All Forum Posts by: Wes Eaves

@Marcia Maynard Great approach and perspective to being a landlord.  I completely agree.  If only other LLs took this approach, they wouldn't have all the headaches they complain about.  Thank you for sharing your insight.

@Andrew Almenar  You'd definitely be wise to listen to LLs like Marcia and take other LLs, that do nothing but complain about tenants, with a  grain of salt.  Best of luck to you!

@Shane Waller You might want to consult a RE eviction attorney if you're not familiar with the eviction process in your state.  The first step in the eviction process (in FL) is to serve a 3 day notice for non-payment of rent.

I completely agree with @Dick Rosen !

I highly recommend @Doug Merriott as well!

@Bill OBrien Welcome to BP.  I'm in Brandon as well.  There is definitely lots to learn and RE investing is an ongoing learning opportunity.  Best of luck!

I use Bob Matthews at Investors Choice Realty

http://www.investorschoicesuncoast.com/contact.htm...

@Lakeisha Black Getting advice from PM companies is definitely a good way to go, especially with your first rental.  Personally, my target rent comp would be about $1000 - 1100.  This is probably a pretty conservative estimate but I would rather have a long term tenant than charge premium rent and have a higher turnover.  Also, this is not my target area of Tampa so I would make sure it was a really good deal for me in order to buy it.

Good luck!

@Bob Ebaugh Looks like you did a great job on the renovations. Thanks for sharing and best of luck with getting it sold quickly!

@Jolene Perry Although house prices may go up in 2 years, why would you buy a house prior to knowing where you want to live and will work? "Tampa Bay" is a large area which generally consists of 3-4 counties (depending on who you talk to). Tampa Bay is a very large metro area and there are a lot of factors to determine, especially if you don't know the areas well.

Generally in the first couple of years, there are a lot of expenses with preparing a house for rental, so you probably wouldn't cash flow much, if any, for a while.

Now, if you were planning on buying and holding it for a long term renal, I would advise to go ahead. Although one thing to consider is owning a rental property far away from where you live can pose its own challenges.

There are always good deals to be had. Just because "experts" say prices are going up, doesn't mean you can't find a good deal when you eventually move here in 2 years…especially if you buy a house that needs some work!

Good luck with whatever you decide and the move!

I'm curious about this too as I'm looking to purchase a tenant occupied property.