All Forum Posts by: Chan M Stagg

I have been a active home flipper for many years now, but have always been scared to delve much into buying foreclosure properties on the courthouse auctions. Biggest roadblock for me is being able to figure out the best way to vet these properties to make sure there is no hidden liens or anything that would kick my butt after a purchase. I have someone who works at a title agency that say she would help me in a title search but I feel like she would just be doing a casual search because I'm not getting title insurance or anything like that with this search. I've heard a few stories of people getting screwed in these foreclosure properties because they didn't do the research.  Anyone know any sources of information I could get on this subject?

I will be looking at properties at auction and if the money is there I may be interested in 400,000+ but to start off I am only looking for $200-250,000

I have been searching for lending/financing on properties that I will be looking for in auctions/foreclosures. It has been very tricky finding someone or an institution that does not want to pull my personal credit and rely fully on that when I own properties free and clear and have an LLC. Also, please do not waste my time and yours by answering to this post with "Find a REI meetup", as to my experience they are mostly filled with newbies that are far less experienced in this than I am that are basically also looking to find someone they can learn or partner from. I am in Brevard County, FL so if there is someone who has definite knowledge/names of people who may be able to help me on this, that would be greatly appreciated.

Thank You.

But it was originally a duplex that was converted into a SFR and still has the attached mother-in-law as well

I have a question for Orlando-based investors: how difficult is it to get zoning on a single family residence change to multi-family? I have invested mostly in Melbourne, and it doesn't seem to be much of a thing there if you use a mother in law suite as a rental, though truthfully I have never done it. But I am looking at a property in Orlando that I would like to convert back into a duplex that also has a mother in law suite and the realtor is telling me theres lots of paperwork in order to apply for this and it can take months...and even that there is the possibility it can be turned down. Does anyone have any experience with this in Orlando?

I have to add to this, so the original poster I'm assuming is in the insurance industry and  says they know of one carrier that does allow pit bulls for rental insurance out of the what, probably hundreds of carriers that offer renters insurance? So even your industry obviously has a huge bias against pit bulls. I'm an avid dog lover, but there is no doubt whatsoever if you pay attention to what you see and the statistics out there, pit bulls are generally dangerous. I'm sure it has a lot to do with the fact that they have to be the most mixed of all breeds out there and I can guarantee you that at least in FL, if you go to a humane society anywhere, there will be at the very least 60% of the poor dogs there are all some variation of a pit. Now the reasons why that is could be a whole other discussion.

Yes I already do that through RE offices. As far as listing the property I don't think anything gets more activity than the MLS. I was just looking for other websites that might be unknown to me. Like Craigslist has actually been another successful route for me...

Thanks, I’ll look more into that! They look to be a property management company. Is it expensive? Do they charge you a monthly fee? I might be willing to pay if they take a percentage of original rent/fees but I wouldn’t just pay for a monthly subscription right now. I collect my own rents as I only have 3 right now. Maybe when I get more rentals I might look into a property manager more. 

I have rented out many properties and have used Zillow/Trulia, Craigslist and of course listed on the MLS. Is there any other avenues of marketing my rentals in Florida that I might not be aware of? And I'm talking long term rentals, of course short term and air bnb is a totally different marketing method. Thanks!

And I’m curious as to how the banks would see it if we have a contract in which I am financing the buyers purchase of the home as the bank would and the bank is simultaneously financing me.