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The sob-stories; the hard-luck-tales; the down-and-out pleas. There are many reasons tenants might ply a landlord for a special leniency or exemption. Whether these are legitimate reasons or or not, landlords and property managers can end up assuming a lot of extra stress on a property by allowing tenants to take advantage of a situation through emotion. Sometimes, the hardest thing for investors who manage their own properties to do is tell their tenant “no”. It is easy to put yourself in someone else’s shoes, but at what point can empathy hurt your investment? Real estate investors need to know how to keep tenant turmoil at arm’s length when it comes to the viability of an investment.

Adrian Smude may know better than any the importance of managing interaction with tenants. As an investor in single family residential properties in and around Plant City, FL, Adrian has experienced the short-comings of allowing tenants unchecked leniency. Adrian’s start in single family residential investing stems from an unpleasant tenant/landlord experience: eviction. After being evicted from a rental house in college, Adrian ended up purchasing his own single family property and converted into a multi-tenant rental. Wary of the poor experience he had as a tenant, Adrian opted towards a more empathetic approach to landlording. Eventually, he found his tenants abusing their privilege. Adrian had to find a way to separate himself from thinking like a tenant and more as a landlord. Adrian adopted a system that put distance between himself and his tenants while avoiding the hard-line approach. Join us for the first episode of “Landlord Tales” as we discuss holding rental properties in a land trust.

• Land Trust
  • Property placed in name of land trust. Property owners can designate themselves as trustee, separate from beneficiary
  • Managing property and tenants becomes easier by separating function as landlord from property owner
  • Adrian learned this method from veteran local investors Jack Shea, Larry Harbolt and Mike Warda

Adrian is actively in the market for single family residential properties and mobile homes of up to $120k in areas around Hillsborough County and Polk County, including Brandon, Plant City, Lakeland and Winter Haven. If you believe you may have a potential investment opportunity, contact Adrian at (813) 720-7874.

The post Ep. 98 Adrian Smude: Landlord Tales – One Method of Creating Distance between You and Your Tenants appeared first on Real Estate Investing in Florida.

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Many of our past guests on the show have referenced the Jacksonville real estate market in their lists of rising, hot Florida markets. The area has been making a steady recovery since the economic recession and investors are taking notice. With a stable economic base and opportunity in a variety of asset classes, the Jacksonville real estate market has a lot to like for investors.

Maxwell Lee and Kelly Lei, of Glocal Network, know firsthand the appeal of the Jacksonville real estate market. Two years ago, Kelly and Maxwell both left traditional, W-2 income careers for a life in real estate investment and started Glocal Network, a real estate investment firm based out of Jacksonville. Though the company is young, they have a combined portfolio of individually owned and partnered investments of over 20 properties in a diverse collection of asset classes. Kelly’s brokerage and agent’s license combined with Maxwell’s hometown knowledge of the Jacksonville real estate market have established Glocal Network as a leading investor in the Jacksonville real estate market.

• Jacksonville Real Estate Market
  • Large amounts of single family foreclosure properties still being released
  • 40th largest metro in U.S., with strong growth potential
  • Strong single family markets: Riverside; Avondale; Springfield; San Marco
    • Murray Hill: Up-and-coming secondary market
  • Rent hikes in prime markets (Riverside, Avondale)
  • Ep. 84 – Daren Blomquist: Which Florida Markets are Hot?
• Glocal Network
  • “Opportunity Investors” – invest in variety of asset classes
  • +20 properties in portfolio
    • Mainly single family, but also retail and multi family
  • Deals financed privately, no institutional loans
    • Glocal invests 25%, investor(s) contribute remaining
    • Preferred percentage deal on returns
    • Average single family turnkey property costs: $90k, all in
• Investment Tips
  • Want to invest? Buy a property, start small
  • Take advantage of the current low interest rates
  • Learn from experience
  • Know your market
  • Find a mentor or network
• Inspiration/Support
  • Kelly’s family instilled a determined and practical mindset regarding real estate investing
  • Maxwell and Kelly found BiggerPockets instrumental in investing advice and establishing a strong local investment network

Kelly and Maxwell can be contacted with an opportunity to work with Glocal Network in the Jacksonville real estate market or for investing advice by email at glocaljax@gmail.com

The post Ep. 91 – Talking the Jacksonville Real Estate Market appeared first on Real Estate Investing in Florida.