All Forum Posts by: Doug Merriott

If proximity to beaches and commute to Tampa are what you are looking for then check out Safety Harbor and the Countryside area of Clearwater. These are very nice areas without the South Tampa price tag. I am making an assumption about your criteria but these are great areas that will appreciate. I would certainly buy. 

Devin, I don't hate the numbers from a house hacking perspective, I will just say that. This would get your feet wet for a few years and get you some income down the road. Speaking of being wet you have not taken flood insurance in to account. Last time I looked at the flood map www.msc.fema.gov this area was pretty much all flood zone. You will have access to MacDill rental pool but this is not hot South Tampa. Really think this one through and drive it. 

Welcome to BP guys. You both live in very aggressive markets. I wish you the best if luck in your adventures!

If you are talking about electricity then the solution is simple and about the cost of one month's rent on the 2/1. You may also need to add an additional panel which will cost around $1500. 

Water in Hillsborough is kind of expensive to add a second meter. Last I called it was like $2k just to the city.

In all you are sacrificing a few month's rent to limit headaches, is it worthwhile to you?

Best of luck. 

@Mark J.

 What will cost more, the $17k in materials and labor or your time chasing him in court? I probably know the answer, but you will still need to move forward to get that house performing. Does he have a business location or does he work out of his house? Do you need someone to stand on his doorstep with you while you "reason" with him?

If you are actually looking to learn what a real estate transaction looks like from an agent standpoint then go to KW St Pete or St Pete Beach.  Both have a lot of good agent investors.  I would spend a year or so training yourself on marketing and transactions then maybe find a smaller broker that charges less fees. That is what I did.

If you are just looking to invest then I would ask why are you going to spend a few grand a year to have your license? Will you save that much on commissions? 

Hi @David McBrayer

I would say that your rental would not make you money. It is very difficult to purchase a condo and have it cashflow. Though your insurance estimate seems rather high. An all cash purchase may make sense here, if you want but it would still be low return on capital. 

@Account Closed Welcome to Bigger Pockets

Will you do any retail sales? Do you want to learn the business?

Hi @Julio Vasquez! Welcome to Bigger Pockets. 

Congratulations @Greg Martin!!! You have been inspirational for your perseverance and I am glad you have finally found The One!