All Forum Posts by: Christopher Holt

@Christopher Holt

You'll want to become an MAI and if you already have your basic classes completed so you can start as a trainee that may impress your new boss.  

I was speaking at a conference a couple of years ago and one of the other speakers, an executive with an appraisal management company, pointed out that the average age of an appraiser in the US at that time was 58 years old. Younger people simply aren't going into the field. You have to pass an exam and spend a great deal of time as an "apprentice". It's not something young people like yourself are flocking to. Might I say this...you can watch as much Youtube or read as many blog posts on here as you want, but that doesn't get you closer to your license. If you feel that appraising is your calling, go for it, but a long journey begins with a single step. If you're committed to it, skip Youtube and go right to the class. ng

Hey everyone,

I'm new here and looking for some advice on getting into real estate investing. I've heard you can start without much money, and I'm curious about how to do that. I've got some equity in my home that might help me get started, but I'm not sure what the best move is.

I'm also thinking about getting a mentor. I've heard about programs like Relaunch and Real Success, but I'm not sure if they're worth it. Has anyone tried these or got any tips on finding a good mentor?

Here's what I'm trying to figure out:

• What's a good first step for someone with a bit of property equity?
• Any advice on mentorship programs or how to find a mentor?
• Are those "no-money-down" deals for real? How do you actually do that?

Would love to hear from anyone who's been in my shoes or has any insights to share. Thanks a bunch!

Cheers,

Levinski

 i would do it now without even thinking.

@Christopher Holt what information did you get back from the city in regards to your question(s) ?

Hello Jaron Walling in Indianapolis, IN. I just drove through Indiana on my way back from Milwaukee. Too cold for me. You are right that I am giving longterm advice and this is 2023 and the old Laws have changed. They got stricker and the Fines got bigger and the Lawyer's who may have to represent you in front of the Board Downtown Tampa cost more and the Liberal Judges want to give an extra 90 days without paying Rent or Utilities to the poor Tenants who were able to write a letter for sympathy to not be Evicted because they lost their JOB. I worked with Code Enforcement and the Plans Department and the Mayor when I had a problem to not pay a fine for something I could fix and when one or another Department was making it difficult for me to sell a property. If you are in California you could be without Rent for a Year and have to pay for the Deadbeats Utilities or get fined big time. Each City and State has it's own Rules to follow. From my beginning in Buying properties to Rent in Tampa, Florida it was understood that Renting Single Family Homes do not make any Money. $100 a door if your lucky at the end of the year? Does that sound Tasty? BP is a forum for advice and that is my advice as a hands on Landlord for 35 years. Do not live with your Tenants.  

@Christopher Holt Circling back to this post... I really don't like the second half of @Michael Haynes response, "I had Duplexes and houses with ADU's for 30 years in South Tampa and this is only the start of your troubles when the Owner lives with the Tenants." What kind of advice is this?? The guy is looking for creative avenues to get in the REI game. Grant Cardone doesn't care about ADU's or SF for that matter.

It's 2023. Not 1980... laws change, strategies change, so I'd be contacting the city department and getting my facts from the source. Those website are confusing. I know because I work for The State of Indiana. I'd tailor my search and offers based on the specific regulations in Tampa. 

Hello Christopher Holt in Tampa. You can talk with Code Enforcement Manager and see what he will say. In the "old days," they told me that if you rent the house to someone different than the renter in the ADU, they will Violate you. It has to be the same family members. That's why it was licensed as an "In-Law Apartment," in the back whey the law was changed. With you in the back you still have to talk with the Plans Department for City of Tampa or County to see if it is legal. The problems that still exist are that you might only have Parking on a narrow street with one driveway. Think. You can't park on the narrow street. Not legal to park on the lawn. Most families have two trucks or cars, with Visitors. You live in the back? Where do you Park? Hmmm? And you don't have a separate Water and Light meters. You charge the house a Flat Rent including Utilities in your name and they have leaks for months that don't get reported and you don't check the meter and they won't pay extra and you have to fight and argue and threaten and then file for Eviction. Or, they move in and they set up to Mine Bitcoin and the light bill is $10,000 a month and your stuck. They have guns and make noise 24/7 and smoke marihuana with ten friends all night etc. I had Duplexes and houses with ADU's for 30 years in South Tampa and this is only the start of your troubles when the Owner lives with the Tenants. Watch Grant Cardone's youtube video, "The Worst Investment You'll Ever Make."