All Forum Posts by: Joseph Narcisse

I am a Real Estate Broker/Property Manager in Florida and I often target buyers and investors out-of-state.  Here are a few approaches that I use. I'm sure there are people from certain areas that tend to visit Delaware on a frequent basis. 

1.  Social Media Advertising:  Target advertising platforms like Facebook and Instagram to reach out-of-state buyers based on their hobbies and interests.  Join Facebook groups targeting the geographic area/interests.  I found joining social media platforms for Boating to be successful. I have also created my own groups and sometimes they take off.  

2.  Partner with local Real Estate Agents:  Partner with agents that can help market the property to their network of buyers.  They might have sellers that are looking to relocate because of retirement or job relocation.

3. Targeted advertising: Use geotargeting and other advanced advertising techniques to target potential buyers in specific geographic areas or regions where there is likely an interest.

4.  Video Tours and Live Streaming:  Offer live video tours or virtual walkthroughs of the property, allowing out-of-state buyers to view the property in real-time and ask questions remotely.

Combining these methods, sellers can effectively market their property to buyers in different states, maximizing exposure and increasing the likelihood of a successful sale.  

I just posted a video about this, but "BIGGER BROTHER", lol, made me take it down. Anyhow, your decision to use a property manager is heavily dependent upon your lifestyle and how much time you have. When you raise the rent or have new tenants move in; Those are the periods you can expect the highest volume of calls, inquiries, or complaints about the property. It almost has nothing to do with how you've written the lease. If you can tolerate that, then you'll probably be fine throughout the lease term. Things of course vary from one property to the next and if you multiply your units, you multiply the frequency of problems you have to solve. Take those things into consideration as you take on the challenge and call a property manager if you get in over your head.

HOWEVER, deciding to use a property manager in the beginning when screening the right tenant, (we call them Residents), highly increases you likelihood of success as a CASHFLOWING investor. I hope this was helpful.

Hi Christina,

I am the CFO for a Pinellas Property Management in TB FL and I use the following methods when verifying income for military personnel.  Be advised, military personnel are not bound to lease agreements if they get orders to PCS to another base (permanent change of station) or deploy.  Otherwise, we have had some excellent experience with active duty military, traditional reservist/guardsman, and veterans.

1. LES (Leave and Earnings Statement):  This is the military equivalent of a pay stub and provides detailed information about a service members pay, allowances, and deductions.   

Generally Applicants must submit:

2. Bank Statements: Reviewing bank statements can provide additional evidence of consistent income and display how much cash they have in reserve.  In Tampa it's common to find an entrepreneur that is running there own business and this allows me to verify how much cash they have on hand and assists me in calculating their debt to income ratio.

3. Tax Returns: Request copies of the individual's previous years tax returns will confirm there yearly income and account for expenses and liabilities.

4. Previous Landlord:  Speaking with previous landlords can provide insights into the individuals rental history, payment habits, and overall behavior as a tenant.  It's particularly helpful to inquire about the promptness of rent payments and the condition in which the rental unit was left upon vacating.  In addition, I often request to visit there current residence to see how they take care of the property.

5.  Background check:  I always perform a background check.  This can provide the applicants criminal/credit history.  

 There are no guarantees, but performing due diligence, an assessment of character, and affordability is what keeps up in business. Let me know if this was helpful or if there is anything else we can help with.

Hi Sterling, 

  My name is Joseph Narcisse and I am the broker owner of Champa Bay Broker. We are a full-service property management firm here in Pinellas County and we do cover St. Petersburg. Please be advised, that we do try to focus on LTR, (i.e. Long Term Rental). If there is anything we can do to help you get cash-flowing on the property let me know. I have artillery of licensed contractors that can complete any size job, if that is impeding you goals.