All Forum Posts by: Anny Garcia

@Steven Hamilton II hi There-I am currently living in Tampa and am looking for a tax attorney or cpa who is well versed in RE investor tax planning and preparation. Do you have any recommendations with references?

@Carlos Garcia I definitely echo what @Joshua has just stated. If the seller is not willing to be transparent on the front end, that may indicate issues in the back end.

I am finding that it really is contingent on the market you are talking about.  Take Tampa, FL, where I am currently working hard to find my buyer deals as quickly as I can.  Homes between 200-250k are on the market for few hours with multiple offers, while over 300K may take a bit longer--(all dependent on if it's priced competitively).  Overall though from what i have read thus far, the market is expected to be strong in this area.  

But as with anything-what goes up will have to go down..except this time-I do not forsee a 2008 on the horizon.

@Russell Brazil-question what is sligh depeciating assets mean? I was hoping with all the attractions and new additions that the area would being appreciating--but that did not pan out.  How can one avoid that in the future?

@Jason Wray I am trying to orient myself and some of my clients on best way to get loans under an LLC.

@Jason Wray hi. Hope all is well. I am analyzing some investment properties-and wld love to get insight from a seasoned investor. Can you help me?

Hey Isaay (Nice name!),

I hv found some success in comparing rent prices in some of the basic sites such as rent.com; apartments.com also gives u an idea b/c they hv also have private and public rental info with amenities. 
Also, your realtor shld be able to assist with pricing out rentals in the area via MLS.

Brian,

Hey there-those areas are rich with new construction-so you are definitely competing with that aspect. Have you considered Ybor City-there are some turnkey properties there.  I can set you up an MlS search if you would like-just let me know. 
I would also be interested in learning more about your numbers and what is kind of property you are looking at?

@Jason Wray thank you. I appreciate it and I look forward to it.

Investment Info:

Condo buy & hold investment in Oxon Hill.

Purchase price: $672,000
Cash invested: $10,000

4 lvl townhome in National Harbor-2500 sqft. 4 Levels of HARDWOOD FLOORS. ALL bathrooms upgraded granite & tile. Gourmet kitchen w/granite and SS appliances, Built ins, Rooftop terrace w/double sided fireplace to enjoy Fabulous water views of the Potomac River ,Wet bar wine fridge and dishwasher on Rooftop level with over sized bedroom and full bath. Master bath upgraded, tiles extend up the wall surrounding seamless glass shower and a Spa Bath tub. Customized closets.

What made you interested in investing in this type of deal?

it was a primary residence with the intention to rent and hold

How did you find this deal and how did you negotiate it?

at that time thru an agent

How did you finance this deal?

VA loan

How did you add value to the deal?

Added modern features/paint

What was the outcome?

Sold it and broke even-we were competing with the builder who was providing deep discounts on newer models.

Lessons learned? Challenges?

learned a good lesson on this one: In the future don't make a permanent decision based on temporary situation.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes I worked with agents--and no, I do not have their names.