All Forum Posts by: Adrian Castillo
Adrian Castillo has started 6 posts and replied 56 times.
Post: Should property management company provide a W9 and copy of ID of tenants to landlord
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Hello @Yang Zheng, there seems to be confusion on how you phrase the situation. Are you managing the property for yourself or a client? Because there are different processes for both.
Managing For a client, the potential tenant should be aware of what will be expected of them (Work History, Income X3.5 rent, Credit (580 and more, etc, and Level -2 background) within the disclosure of the actual application and how they will be evaluated and screened. Also, potential tenants will submit hard copies of government ID and paid stubs.
The client will only get the basic information, for example:
Work/Income - Check's out/Make's enough within the metrics presented.
Credit - within the metrics presented
Level-2 - Check no activities etc
Now each state has different bylaws (check yours) In Florida, clients will get the basics I mentioned (Through Email or verbally) They will not get actual documents.
The only way a client will receive actual documents is if tenants give authorization.
Managing for yourself - You get everything!
Hopefully, this help's!
Post: House Hacking Duplex in Hillsborough/Pinellas County
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Mena Soliman:
Quote from @Joseph Stern:
@Connor Benn Hey Connor, I specialize working with people that want to house hack, I house hack myself. In tampa I would stay west of 275, the east side can be rough in most parts. West tampa, Seminole
Heights, south tampa, and tampa heights would be your best bet. In st Pete I would stay between
1st Ave N and 46th Ave N, jungle terrace is a solid area as well. Largo, Seminole, Clearwater all present opportunity as well. Reach out if you have any questions or need advice!
do these spot cash flow? and how does it look like from a cashflow perspective? if it doesn't cashflow, do you see a market for turning the other unit to a STR/MTR?
I will say, do your homework some locations have city and county limits that prohibit SRTs and MTRs. Send me a DM to further discuss strategies.
Post: Searching for Landlord Friendly AirBnb Arbitrage Agreements in Tampa/StPete Area
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Thomas Korbos:
Good evening! I am in search of Landlords in the South Tampa/St Pete/Clearwater area that are open to an AirBnB Arbitrage Agreement. I am willing to negotiate terms of the agreement. I am a young entrepreneur eager to get more involved in the short term rental business and willing to learn and network with as much people as possible. Please reach out or refer me to anyone willing to give me the opportunity to make this happen!
Post: Stuck in rental lease looking to house hack first property.
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Christopher Bintz:
My brother and I are currently in a rental lease paying $1500 in Portland, Oregon and we are looking to get away from being renters and get into the game of house hacking. between the two of us we have about $60,000 as well as looking to potentially move to a cheaper state. we currently are looking in Florida or Texas. we have family in Utah that we could stay with while we try to find a house. Is it worth it to break our lease which would cost monthly rent plus 1.5 times the rent to a total of around $2,242 and start now or better to start later when our lease ends in march of 2024?
Post: Plant city rental market.
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Huiping S.:
I list one SFR in Plant City and disappointed: the pretty house located in a very nice community but 1)not so much applicants; 2)few scammer and under 500 credit score for all applicants; 3) never show up once I said will check the credit score and income. This rental is over $2300 per month which under Zillow estimated price.
I like Plant City and planned to buy more properties in Plant City. I started to question myself: will the future properties have difficulty to be rented with quality tenants in Plant City?
This is my first time to list a rental in Plant City. I personally like Plant City better than Riverview or Brandon. It is easy to rent out a property in Riverview or Brandon but much fewer qualified applicants in Plant City.
Can you share some experience of Plant City long term rental market? Will the >$2000 per month rental too expensive in Plant City?
Thanks.
Huiping
Post: Rental property in Tampa
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Alon A.:
Need help with rental property I have in Tampa and advice
33610 zip
I purchased house I. Neighbor hood , don’t know if to sell or rent it
Hello, @Alon A. depends on what strategy works for you, if you Keep it ask yourself do the numbers make sense, and if it is profitable. If you are thinking about selling, ask yourself, what will generate the most return...rehabbing it or selling AS-IS. Let's connect! I have a team that can help. I'm also an investor aka Real Estate agent.
Post: Investor friendly agents in St Pete/Tampa area
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Ian S.:
I am investor from the midwest, looking to set up an operation in the area flipping about 12 houses a year.
I am looking to connect with investor friendly agents to help with finding properties, comps and listings.
Thank you.
Hello, @Ian S. Let's connect my team and I can help you throughout any process. We offer Lending, Property Management, and Construction Management services. I'm also an investor myself and a real estate agent!
Post: Expired MLS Listings Strategy
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Krissy Harden:
Hi!
What are your thoughts on targeting certain expired listings for wholesale deals? And if necessary, offering to pay off the sellers listing agreement with agent?
This strategy was suggested to me and I wanted to know if this sounds like it is something that could work out for all parties involved.
Of course, I would first reach out to the agent to see if they would be willing to pass off older leads.
I’m still new and taking notes and curios about different approaches to my investment strategy.
Thanks for the help! <3
Highly agree with Eliott Elias I would recommend getting with an investor-friendly realtor. You can team up, since you have buyers, and the realtor will have sellers, who fall into the drip bucket of distressed properties.
Post: SFHA Vs Non SFHA - Special Flood Hazard Area
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Doug Smith:
Quote from @Adrian Castillo:
Special Flood Hazard Area, had a client look at a property within flood zone AE in Tampa. I was very surprised, by what FEMA requires, if you exceed a rehab budget over 50% of the assessed value. Has anyone experienced this process?
Thanks
Yep...the FEMA 50% Rule. I'm also in East Hillsborough...howdy neighbor. Is the property in Hillsborough County? Head to the property appraiser site (hcpafl.org) and pull up the assessed value for the STRUCTURE ALONE. That is what they use to determine the 50%...not the appraised value of the total property...only the structure. It can really bite you in the behind. If you can't renovate it for 50% of the tax-assessed structure value or less, then they will require you to tear it down and build to current code. Before others start piling in about the value used, that is how the Hillsborough County and City of Tampa officials gauge the property structure's value for calculating the 50% rule. I've done rehabs and dealt with them...trust me I know. Let me know if you have any other questions. Doug
Post: Homeowner Insurance Policy in St Pete
- Real Estate Consultant
- Brandon, FL
- Posts 65
- Votes 25
Quote from @Sterling C.:
Hello, my friend has a single-family house in St Petersburg, Florida which we invested together and renovated. I will purchase the house as my primary and was shopping around for homeowner insurance policy. However, as you know, it's getting very difficult to find an insurance company to insure in Florida. Also, the roof is more than 10 years old in a great condition but some insurance companies are saying they can't insure unless it's replaced. Please let me know if you have any recommendations for an insurance company that's reasonable. Also, would I be able to get umbrella insurance in addition as well? Thanks.