All Forum Posts by: Kristina Kuba

https://www.tbreia.com/ monthly meeting has great speakers and good networking!

@Account Closed

I have connections to a few, sending you a DM

@Emerson Pariona

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 be a good fit for your new construction goals.

I hope this helps. Good luck!

@Nate Branscome Task Rabbit cleaners are typically reliable and you can schedule and pay for them all thru the app.

@Joey Mitchell

Personally, I would think of it as a reliable Technology, Consumer Cyclical, or Healthcare stock. Why sell when it is down? You own the equity, don’t give it up for 70 cents on the dollar. Keep it, take the cash flow and when the market moves it a seller’s market in a few years unload it then.

I personally own properties north of Port Tampa, so generally speaking you should still be hitting close to $3k on a 2,700 sq ft house. Think of high impact, low cost renovations. Exterior, interior paint, lighting, curb appeal, professional pictures to drive rental showings. There are excellent services out there that will reglaze a bathroom and refresh the kitchen cabinets and get you a remodel look for a budget price.

The way I see it is that rents are steady and/or rising in Tampa Bay, but asset prices are decreasing slightly in most neighborhoods. I would rent it now, brush up on your development and architectural plans and build in a few years and sell for the highest price per sq ft.

@Jonathan Kennon

Need a little more info to address the deal.. What is the monthly HOA? Also, have you gone through the Homeowners Association past assessments and future deferred maintenance? I am assuming that at that price it is an older building so if you get a roof or other larger assessment that could eat up your cash flow for several years.

@Wagner Dias

As Andrew mentioned, I would be extra diligent in Orlando due to zoning and the powerful hotel/ resort lobby. Also, Orlando STR travel is primarily driven by theme park tourism and can be cyclical during the seasons and if god forbid there is another pandemic.

I would also consider other markets. I am in Tampa and own a few short term rentals myself here. Born and raised in Tampa, Obviously I think Tampa is an amazing gmarket. Regardless, make sure your city and neighborhood that you are investing in have different types of STR travel demographics.

For example, here in Tampa not only do we have theme park and beach tourism (#5 ranked beaches by TripAdvisor in the world in 2021), 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). Tampa General Hospital has been named one of the top 100 hospitals in the United States, according to Newsweek. The 1,041-bed hospital was recently ranked as one of the news magazine's World's Best Hospitals 2022.

Reach out if you have any questions.

Best of Luck!

@Miles Viant

We personally used Walters Levine & DeGrave on Bayshore Blvd in Tampa with a contractor that tried to walk away with our money. They have a big name because they are in Chicago as well, but are priced reasonably.

They are well versed in contract law and should be able to file a lien on the property and they can also assist in filing a formal report against the builder with the Florida DPPR which carries weight and can pressure the builder to do the right thing.

@Khurram Humayun

Khurram,

There is never a perfect time to BRRR nor is there a perfect time to buy real estate. Here is what I will tell you from being personally invested and an agent. Because sellers are in a nervous climate, I am seeing buyers get anywhere from 20-40k average off a reasonable list price on a median priced home in Tampa. If it's a fixer upper? You might be able to get more.

With a 6 month seasoning period….Here is your timeline for a proposed BRRR

Month 1 - buy property with cash/ hard money, start cosmetic rehab

Month 2 - cosmetic rehab continued

Month 3 - cosmetic rehab continues

Month 4 - put tenants in and have the rent offset the high interest hard money loan

Month 5 - continue

Month 6 - do a “complimentary deep clean” for your tenants and call an appraiser

In Tampa, I think your appreciation goal is very reachable and you will get closer to 6-8% in the urban core. Your agent should meet the appraiser and/or prepare a document outlining the upgrades and renovations you did to the home. Once you get it appraised, do a 75% cash out refi and you should have cash flow reasonably and enjoy the appreciation in the coming years. The economy is softening and you will likely see a little more of a dip in revenue as a STR, then as a LTR. LTR rates continue to hold steady in Tampa and have only dipped slightly.

Hope this helps. Happy new Year!

@David C.

I have a great CPA in Tampa that actually works very proactively meaning he will do tax projections in Q3 and Q4 and proactively let you know where your tax bill is and give you documented written out options in order to decrease your tax liability.

Ruben is a ninja on real estate ins and outs and how to maximize the little things like meal / vacation decisions. Also, the secure portal and phone app make it a breeze to manage years of taxes and docs so you're not scrambling for items the next time you are applying for something big like a mortgage.

Ruben Cruz

Crulliance

400 N Tampa St 15th floor, Tampa, FL 33602

Tell him Kristina and Ryan sent you!