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All Forum Posts by: Edgar Rodriguez

Edgar Rodriguez has started 5 posts and replied 164 times.

Post: Short Term Rentals Markets in Orlando/Tampa/St Pete area

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

Hey Bradley,

It really depends on budget and what exactly your budget is. In the Tampa area, the city of Tampa actually allows STR while the county it is located in, Hillsborough, will only allow it for a week or more stays which obviously cuts into the renter base. Some condo associations, particularly in Orlando, also allow STRs especially close to the theme parks. On each side of the Central FL coast, those rules will vary based on EVERY individual municipality so tread VERY carefully. Some will allow it while the "town" one street up will not.

I have a client who found a few very cool properties in Largo, Fl about fifteen minutes from the beach that will make some good money on short term rentals. 

My best advice is to educate yourself. Find someone who has done the airbnb management before and see what they think. Gain as much info as possible then focus on 1 or 2 areas to find that investment that works for you. 

Post: I Need Advice and/or Help

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

My first thought is buy and hold because the area is good (South Tampa). However, like you said, the home has limitations so you would need to consider if you want those issues for the long term. It seems like you can remedy some of them. 

My second thought is, if the builder is offering you 10k more, there has to be some big profit in building a home there. I would sit down with several builders and see what they would charge you to build a home there similar to the other new homes there and see what you can get from those on the open market. Building a new home is not easy. You have to secure financing, manage the builder, and make sure your numbers are tight. 

Post: New Real Estate Investor Looking to House Hack

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

@Brandon Moffitt

There is some availability in the Tampa area, especially in Pinellas county. The big differences is that, when qualifying, you can take into account rent from the other units and they usually cash flow a bit better once you move out.

Post: Review: NetWorth Realty

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

I have also dealt with several individuals from there as well as other wholesalers. The bottom line is: DO YOUR OWN RESEARCH. 

Partner with an agent who is willing to pull comps for you. See if you can find a contractor that has a detailed list of his pricing or can at least look at some pictures quickly and give you a range with an hour or two. The name of the game is speed with these guys. The good deals go fast so you have to be on the ball. However, do not base your numbers on what they are telling you. I've noticed that maybe 1/5 or 1/10 of what they send are actually "deals" for myself at least. 

Post: New Real Estate Investor Looking to House Hack

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

Hey @Brandon Moffitt ,

Have you looked into multifamily house hacking? You can actually get an FHA loan for a duplex, triplex, or even a quadplex. That may be a good avenue for you to explore.

Post: Looking to invest/ relocate ....Tampa

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

Hey Charles. 

That price point is difficult unless you go to a rougher area or areas like Spring Hill or Brooksville like your cousin mentioned. 

I do a lot of business in the Riverview/Ruskin/Brandon area and your requirements certainly fit that criteria but most of the inventory within that range is either a townhome, condo, or needs some work. 

Post: FHA Multifamily lenders help

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

Hey @Bradley Snyder ,

Most lenders, at least that I know of, do FHA loans. There is normally not a huge distinction between them as it is a federally backed program so the regulations, underwriting, etc is pretty similar across the board. I would suggest speaking to 2-3 lenders and comparing their fees, rates, etc while getting preapproved. Then, you know what is out there and can make the best decision for you.

There's also some difference between a single family and MF FHA loan, mainly the rent calculations and a little higher appraisal costs, but it is, in general, a very similar process.

Hey @Brandon K.

Shoot me a PM. May have a local guy for you. 

Post: Newbie in Miami looking to purchase a property in Tampa

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

@Moises Alcala  Are you looking to do flips, long term buy and holds, fix and rents? 

Post: Newbie in Miami looking to purchase a property in Tampa

Edgar RodriguezPosted
  • Real Estate Agent
  • Tampa, FL
  • Posts 191
  • Votes 98

Hey Moises,

What kind of properties are you looking to invest in?

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