All Forum Posts by: Amber Stout

Welcome to the community, Eric. I actually come from the hospitality industry as well and then got into RE by house hacking myself and now work as a mortgage broker mainly helping investors, so I know how important networking is early on.

Since you're in St. Pete, you're in a strong market with a lot of investor activity—multifamily, STRs, and house hacks. If you ever want to chat about financing options for investors or STR specific lenders (we even use AirDNA projections upfront to qualify), happy to connect.

What’s your main focus right now—working with investor clients, or also looking to invest personally?

@Adam Lowe - I'll send you a DM 

Hi Bobbie, In FL, you don’t necessarily need a formal “escrow account” . The law just requires you to keep tenant deposits separate from your operating funds and to notify the tenant in writing where it’s being held also whether it’s interest bearing or noninterest bearing. 

Most small landlords here just open a separate checking or savings account in the property's LLC or their name and park the deposit there. That way, it's cleanly separated if you ever get audited or a tenant challenges it. When you set it up, make sure you send the tenant the required written notice within 30 days. I typically just have it in my lease so when they sign, it's already documented within the lease where the funds are being held.

Hi Collin, Partnering with someone experienced in STRs is a smart move, especially since the systems and guest experience side can make or break a property.

If you're already putting together STR deals, I'd definitely recommend connecting with lenders that underwrite based on AirDNA projections instead of just long term rents—that's been huge for my clients. Makes it way easier to qualify and scale without getting stuck.

Also, since you're in Tampa, you're in one of the hotter STR markets. Just be sure you're staying on top of city/county rules.

Great post @Doug Smith. I'm seeing that on my end as well, especially if the client is willing to do a PPP. 

Hey Anthony, welcome to Tampa!

My husband’s a local realtor who mainly works with investors and understands deals inside and out (we’ve both been in your shoes with house hacks). He’s helped a ton of clients find off market and small multifamily deals around Seminole Heights, Tampa Heights, and St. Pete (all our house hacks are in St.Pete). 

I’m also a mortgage broker and work with a lot of house hackers, so if you want to talk financing strategy while you’re hunting, I’m happy to help too! 

Hi Bobbie, your local credit union or regional banks will usually offer the best terms and lowest closing costs for a HELOC on your personal home. I'd recommend reaching out to BayFirst to see if they'll lend in your area. They're typically very local, so they may not go out to Orlando, but that's who I used and it was a great experience. Happy to share my contact there if you'd like.

Hi Eyan, thank you for your service. I don't think buying an investment property after your first home purchase is too much if you're able to comfortably handle that. I would suggest starting with your personal residence and then moving to the investment property, from a financing perspective it'll make the primary purchase easier/smoother. For VA, you can go 0% and then if you qualify conventional, you can do 15% for single fam or 20% for multi family. I do always suggest multi fam - it's less risk and can be less in expenses. ie. only 1 roof for 2-4 units. As long you price the rental property right, you'll find a great tenant. I'm an investor turned mortgage broker, if you want to discuss further, send me a dm.

Hi Joseph and Anna, you can go bank or private money however depends on experience, plans, liquidity, etc. Do you have experience with completed projects that are similar in size / scope? Is the plan to sell the property upon completion or hold/refinance it?

Hi Emilio, thank you for your service. First, I think it depends on what you're most comfortable with risk wise AND long term wise. If it's important to you to have limited risk and you don't care much about scale, then pay cash. If you want to scale and maximize, I would suggest financing and spreading it amongst several properties... I HIGHLY recommend a multi family property if you do decide to do 3-4 properties. It'll limit your risk and expenses = 1 roof, etc. If you do decide to do the financing route, I am an investor and mortgage broker specializing in working with investors. I also have great contacts in the area if you do need a great agent to source a solid deal.