All Forum Posts by: Edgar Rodriguez

@Nathaniel Walker

It’s really hard to explain because honestly there is a lot of variation. For example, I like the area close to the Casino but if you venture too far west towards 50th st closer to MLK, it gets dicey. You almost have to go street by street.

That Palm River area (33619) is also a good spot in my opinion. My father has a rental there that has performed very well. Palmetto Beach (behind the Ikea across from the port) is also growing a lot.

@Nathaniel Walker

It’s really hard to explain because honestly there is a lot of variation. For example, I like the area close to the Casino but if you venture too far west towards 50th st closer to MLK, it gets dicey. You almost have to go street by street.

That Palm River area (33619) is also a good spot in my opinion. My father has a rental there that has performed very well. Palmetto Beach (behind the Ikea across from the port) is also growing a lot.

@David Armas

Your best bet to find consistency deals is probably Port Richey/New Port Richey. Some areas in East Tampa are good and maybe Plant City. Pinellas County is super hit or miss.

Hey @David Armas

What kind of investing are you looking into doing? Do you have a budget in mind?

It is definitely a personal preference situation @Mitchell P.

Do you want to be more hands on and build your business from the ground up?

Are you looking to get passive income by investing in a syndication?

What are your future plans for the Malibu home? Are you planning on going back after a few years? Is the appreciation good? What is your return after mortgage paydown and expenses? Is that return okay with you based on the amount of equity you have?

These are all questions I would ask myself if I was in your shoes. 

Hey @Jason Wagner 

The retail market right now is insanely hot hence why you are probably seeing these situations more often. Right now, I get emails from wholesalers and, by the time I ask to go see them, they are already sold sight unseen. My suggestion would be to stick to what you are comfortable with. If you have to see a home before you buy it and do your numbers on the site, then you have to do that. Just be prepared to lose deals as a result especially right now. 

My other suggestion would to find a nice location/area and learn everything there is to know about it. Examples are approximate price per square foot of each subdivision, local attractions, common issues with homes in the area, ages of the homes in the area, etc. If you do that and a deal comes across your desk in that area, you will have the knowledge to know whether it is a deal or not. Once you get a foothold in that area, you can begin talking to the neighbors and seeing who is thinking of selling. Then, you can grab the property before everyone else does. 

Hey Josean, 

I think both cities offer great opportunities for real estate agents and investors. I have lived in both cities, Orlando being more briefly. I went to UCF and spent four years there. What I can tell you is there are many different areas to both cities and you can find whatever you are looking in terms of living situation. It really depends on budget, your personal plan as well as business plan, along with, frankly, which area you like more. 

I personally prefer Tampa but I lived in Orlando when I was a broke college student so things will definitely be different now versus then. 

@Jake E. hey Jake. If you're question is in terms of actually getting licensed, that is on the DBPR website. Here's a quick link I found. 

https://www.floridarealtors.org/education/how-to-get-your-florida-real-estate-license

In terms of brokerages, they will vary A LOT. Most big brokers have monthly office fees, transaction fees, and commission splits up to a cap. When I was with KW in New Tampa, you paid $50 per month office fee. Then, you would charge your client a $295 transaction fee or you would have to take care of the expense yourself. The split was 64/36 up until you hit a cap of $15,000 paid to the brokerage. You also have upfront set up fees that I do not remember but they were not much more than a couple hundred dollars. 

My new broker charges a one time set up fee and then an 80/20 split up until you hit $12000 paid to the broker. No monthly fees but there is a $395 transaction fee but that is paid for a transaction coordinator to bring your deal from contract to close, essentially do a lot of clerical work. 

Hey  @Christian Nickolas Setser 

I am an agent local to Tampa. My biggest recommendation to most investors is knowing what they want and getting their ducks in a row, mentally and financially, in preparation for the property to become available. I see a lot of my buyers losing out on deals because they cannot move quickly enough. This could be for a variety of reasons but the most popular usually are not getting preapproved and analysis paralysis. The market here is very hot and good homes move quickly but there is still room for people willing to act fast and intelligently. 

Another big thing is shopping your lender. Most people just go with whoever did their friend's loan or is recommended by a family member. I would ask your agent or even people on BP for recommendations as well. Cast a wide net and then go with the person who you are most confident in to get the deal done and who will give you good terms. Do not just look at the interest rate and payment. Also, go through the closing cost estimate and ask questions. 

Good luck!

@Elvis Albarracin 

If your previous property is financed fha, you will not be able to do another fha loan. If it is conventional, you can do fha on your next primary residence. Your options are either refinance your previous home to conventional or, as you mentioned, purchase as investment property where most lenders do require 20% down.