All Forum Posts by: Kristina Kuba

@David Caradonna

The creative financing strategy of subject to is used best when there is no bank involvement because you are essentially transferring the deed but making payments to the mortgage company from an LLC. One trick I learned is, let's say you are doing a Tampa subject to deal, you can create an LLC like "Tampa property maintenance" and send the mortgage bill payment checks from there. This will not raise any suspicion with the bank.

I’ve never dealt with a subject of a foreclosure deal and I am assuming if the home seller wants to get caught up it would require some more legal ppw between the bank and yourself and things could get complicated. Let us know how you do. Best of Luck!

@Chelsea M.

Asset prices continue to fall across the nation and so does rent, Tampa seems to buck the trend (link below). Tampa is landlocked on 3 different sides by water giving it forced appreciation. Look for areas not in a flood zone and you can avoid the floor insurance premium and have a lower premium on your overall landlord policy. If you underwrite it as a long term rental and if you quickly want to convert to a short term rental you can with the lax Tampa ordinances. You have a 3rd strategy if you want to use the property as a MTR (mid term rental) to medical professionals as Tampa has a plethora of hospitals and some of the best in the nation.

Florida hurricanes and weather are definitely a concern, but you will be pleased with the high levels of appreciation, steady rising rent, no state income tax and low crime. Best of luck!

Rental prices across the country are starting to drop, except in Tampa

@Tyler S.

Many wholesalers in the Tampa area use

Albatross Title Services

One Progress Plaza, 200 Central Ave 4th Floor, St. Petersburg, FL 33701

They are familiar with assignments, blind HUDs, double closings and deals that are more complex with probate or Power of Attorneys, etc.

@Monica Boyles

Look for agents that align with your interest. Interview a few and see what is a good fit for your STR aspirations. The agent you choose should be an investor themselves because they are going to have the rolodex of plumbers, cleaners, lawn care, etc. that are reputable and low cost. If you are not self managing, make sure to see if they can provide you with plenty of referrals of STR hosts that are cost effective and have superhost status.

Good luck. Please reach out if I can answer any additional questions.

@Shane Edwards

Drive around the neighborhood and look for new builds… Then look up the addresses on Tampa’s plan and permitting system…Accela Citizen Access. Reverse search the builder LLC or name on websites like Fast People Search and call them.

Some of these records will be investors that are GCs as well and are likely willing to do a profit split. Pitch your situation and see if it could be a win-win for both parties; it may be a safer route to go with an experienced investor who holds their GC license.

There are no great solutions out of a bad deal… I hope this helps. Good luck!

@Alex Terraciano

I have found Task Rabbit app to be a lifesaver in my area for Cleaner, Handyman, Plumber, Electrician, HVAC...light trade work

@Sheina Lassalle

Like the poster above said it would be hard to get anything in Tampa under 200k. Nevertheless, check places like the outskirts of West Tampa and Ybor, Tampa… you might be able to find a 2/1 in the low 200s. A 2/1 in the urban core would likely produce 25k -35k gross STR revenue.

Also, look in up and coming tertiary markets such as Lakeland/ Polk County (in between Orlando and Tampa), you should be able to hit the 1% rule as an LTR if that is an option for you.

@Jennifer S.

This is the next one in Dec in Ybor

Multifamily Meetup and More - Tampa Bay!

@Erik Bergerud

I would definitely add one or two multi unit properties to your strategy if your primary goal was immediate cash flow… Asset prices are declining and so are rents across the country except for Tampa.  Here is a link to the article from earlier this week:

Stagflation is a legitimate concern and I don’t have a crystal ball; nevertheless Florida and Tampa’s unemployment still are at record low levels when compared to the macro level of the country. At the end of October, Florida unemployment rate fell to 2.5%, lowest since 2006.

@Brittany L Gramm

I own a few short term rentals myself in Tampa and think Tampa is a great market because of the different types of tourism. Not only do we have beach tourism, we have educational tourism (one of the largest universities - USF and then UT), and also medical tourism (we have some of the best hospitals in the country especially for outpatient services).

For a lower price point, I would suggest a tertiary market like Lakeland. A lakeland duplex / triplex will be reasonable and you should have steady STR/ LTR occupancy as Polk County (Lakeland is the main city) sits directly in between some of the largest and fastest growing cities in America: Tampa and Orlando).

Please reach out if you have any questions. Best of luck!