All Forum Posts by: Edgar Rodriguez

As a seller, you HAVE TO and should declare anything that would materially affect the value of a property aka a fire. In your position, I would make sure to disclose the fire issue while also providing documentation regarding proper remediation and replacement. I probably would not replace the rest of the roof and, if a buyer wants a new roof prior to closing, I would address it then. However, some buyers may be turned off to a partial replacement because of aesthetics or just bias. That is something to consider as well.  

Lenders generally do not care about the condition of a roof unless it comes up in the four point inspection or appraisal. A failed four point means a purchaser cannot obtain insurance. There are ways around that if your insurance agent is creative enough.

I think you have to do what you think is best for yourself and your situation. If the wholesaler is giving you a good deal (and other good deals) and you're also making money on it, I usually don't mind it.  

 Of course! Feel free to DM me. I can also meet up for coffee if you are in the Tampa area. 

Hey Jackson! I am a real estate agent in the area with clients looking for flips, buy and holds, and rentals in the area. I would love to connect and discuss what deals you have going on!

Hey all! I'm looking to get started into the development game. Can anyone get me in touch with local Tampa builders that work with on your lot clients? Thanks!

I would consider finding an experienced partner and using both of your capital to pursue something large such as an apartment complex, small shopping center, or something similar. Considering your already full plate, I would find it difficult to also manage a real estate portfolio consisting of several different properties in different locations. Using a property management company is also a good solution to that but I find that it is hard to find the right company without knowing what to look for and what questions to ask. 

What are most STR lenders charging in terms of points and interest rate? LTV?

Do you have any concerns about the glut of apartments that are being currently built? It seems like there are new apartment complexes. There is also a concern that these low cap rate A class apartments will experience issues if rents do not keep up or even drop. 

Personally, I would keep the home, get some high quality tenants, and try to find the root of the issues. If the rates go down, I would probably try to get some cash out of it and buy another asset. 

Hey Matt,

If you are trying to get your flips funded, I would personally recommend trying to network with private lenders. Most banks will probably not, as noted earlier, give someone a line of credit for flips. That is just not the business they want to be in. However, high networth individuals usually have money but not a lot of time. That could create a good opportunity for you to ask for capital in return for interest or equity.