All Forum Posts by: Account Closed

@Mike S. I have not, just because it would likely cost me more than just using what I currently have. why fix it if it ain't broken ?

Hello guys,

I am closing next week on a property in Lakeland Florida. It's a 3/1 and I think I got a nice deal on it. I had a short discussion with my PM about the property and she says that because of the window AC units rent could potentially be affected and being lower than a house with a central AC.

The house has a low pitch roof with very little attic space. Central AC is doable but will be costly and I'm not interested in that upgrade. Especially because most rooms in the house already have a fully working window unit.

So what do you guys think? How much lower is the rental going to be because of the window units ?

@Daniel W. welcome to the party!

Seems like your a frugal individual thats been saving up to start investing. I think you got a  good start and will definitely recommend moving forward with your plans. 

Do your research here on BP and also ask around your friends if maybe some of them has done investing in Real estate. I think Indianapolis could potentially fit your investing budget but you need to be careful where you buy. Some areas are great and some not so great. 

more like the 90% rule. Most transactions are closed at an average of 5-10% below asking. I just pulled this off the MLS which reflects the data for Tampa

Thanks for the tips guys.

@John Underwood thank you for the quick response.

The new roof will not get me better rents. A leaking roof would cause me more trouble and cost me more to fix. Thats my dilemma. 

I have multiple properties in the Tampa bay and Lakeland area. Most of them bought when the roof was already getting old and some showed in the inspection that the roof is "near lifespan". Some I had patched up a few shingles.

I have a property that the tenant has decided not to renew the lease and the house has an old roof but had no complaints from tenant so far. Should I let it run for another year or should I proactively start changing roofs ?

Thanks, I can confirm that is also what the city of Tampa said :)

Good morning BiggerPockets team,

I'm looking to purchase a duplex in Tampa and I've asked the owner to see his three latest water bills so I can get a general idea how much water is going to run me as a monthly expense because the property doesn't have separate water meters for each unit. So the kind realtor that works with the seller sends me the bills and I see a charge of $69.82 each month for "Refuse Apartment Charge". I tried calling the city of Tampa to inquire yesterday and they were closed so I asked my buddies that are in the business and also Google and no one was able to give me an answer. I thought it would be a good idea to post this situation here so that next time somebody tries to google it he will have an answer. I will have an answer as well later today when I check with the city. 

If someone knows what it means please do post it here as a response.

Thanks!

Don't be alarmed about the D/C areas in Tampa. They make the best cash flow and appreciation. With the right property management company you can secure a decent income.