All Forum Posts by: Adrian Castillo

We bought our first rental property,  a triplex (home converted to 3 separate units) after several months of searching for the best deal. We found out after that this property has several open code violations and 1 or 2 of these are going to cost between $20-$60k each. We had an inspection done, but they don't pull codes. We did not use an attorney because no one we had talked to told us that was needed. We bought AS-IS but I know there is some law(s) in place to not let this happen. We were supposed to be notified! Anyone had this happen?? It's a mess! We have now the city legal department after us to get these completed because the previous owner just stopped responding to them and sold us the property. BEWARE and always check on the property you are buying if there are open code violations! We are 3 hours away from Chicago and I know for a fact that a sale of a property can't even take place with code violations open. So how did this happen?? I need this to be a topic on Seeing Greene lol. Please let me know any advice you have! We are in central Illinois.

My husband and I are looking to buy an investment property in Florida (open to other suggestions) but short term rentals are so hard to come by with HOA's. I saw a website for mid term rentals with fully furnished places for traveling nurses, business people, etc… how well do these sites do in terms of filling your property with potential tenants? Any experience with this?

Not anytime soon, or ever.

Cryptos looking good? (insert fave emoji here)

Hello real estate enthusiasts, 

I am moving to Connecticut from Florida due to my wife's school. We will live in CT for about 2 years and then plan to move back to FL.  Would it make sense for us to buy a single-family in CT, live in it for 2 years and then rent it out and move to FL ? Or is it a better idea to buy in FL now, rent it out, move to CT and rent an apartment there for the 2 year duration?

Any guidance or tip is appreciated. 

Has anyone had any experience purchasing a STR through open door? Would like to hear about it.

Hi BP community!

My husband and I are rookie real estate investor based in New Jersey. However, we are considering long distance investing in Tampa, focusing on MTR. I did some research, and Tampa seems a strong and affordable market for MTR and traveling nurses.  We only visited Tampa (St. Petersburg once) so we are not very familiar with the neighborhoods. We have friends in St. Petersburg who can walk the property for us and help with 'managing' the property as well, if needed.

We would like to start with a small property with a light rehab (2 bed/ 1 bath) around 200k, that we can turn around quickly.  As our focus is MTR, we would like to stay in a close proximity to Tampa General Hospital. What are the good areas in Tampa for MTR? Is there anyone who currently have a property in Tampa and using is for MTR? We would love some tips and advice! Thank you, Weronika. 

I've had the same person do my taxes for the last few years, but he seems to have disappeared this year. I guess I shouldn't have waited this long to reach out to him, but in prior years I'd set an appointment with him for that same week and would be in and out within one hour. I file jointly with my wife (both have W-2's) and I have one rental property that is under my name. Do you think I should try to find a last-minute tax pro or file my own taxes this year? 

Hello, I bought a home in Dec 2022 in Venice FL from Meritage Homes. I closed when the kitchen was not fully completed because I had to lock the rate at 4.5%. All the doors were misaligned and it needs the vendor (Timber Lake) to come back to fix the kitchen doors and drawers. The Kitchen Island problem is much worse because it appears to be sinking in the middle (See pictures). But it is not. The problem is the counter has been built 1/2 inch - 1 inch too high and the the only  way to fix is to take the countertop off and rebuild part of the island. The builder is saying it is within their tolerance and will fix only by adjusting the doors and trim. But there is no way that will work. Plus, the Warranty work keeps getting pushed back. First it was Feb, than April, and now July. What can I do to ensure they fix their shoddy work properly. It is especially frustrating because the builder keeps saying its within their tolerance levels but I tour other new homes in the development and none have the problems I have. What can I do to ensure they fix it properly? Should I hire an independent inspector give their assessment and/or reach out to an attorney if they don't correct?