All Forum Posts by: Luke Rorech

@Jonathan Greene Great advice. Any unique strategies you're seeing success with when sourcing off market opportunities for your clients? 

@Jimmy Jefferson I haven’t used either of those in awhile, so someone please correct me if I’m wrong, but I think those are catered towards sfh. 

@Evan Murphree happy to discuss. Just let me know how I can help. 

@Paul Deliso as Connie mentioned, the calculators are a good place to start. If the property is older, I underwrite with higher capex and repairs than if the property is newer. Local PM will range from 8-12% so 10% isn't bad. Consider the current demand for housing, you may be able to lower the vacancy rate but again, very dependent on the property and location. I always recommend to be more on the higher side to give a buffer. Best of luck. 

@Cole Britting Congrats on starting your journey. Tampa is a great area for str as it should allow you to cash flow a property in an appreciating area. You do want to stay inside the city limits of Tampa to ensure you're complying with local regulations. There's a lot of pockets up by Busch Gardens, some nice, some not so nice. I'm a believer that a lot of that area will continue to gentrify as flippers and developers look for land in the path of future development but you'll have to make sure you're comfortable with the neighborhood as it currently is to ensure guest safety. Let me know if you have any other questions. Best of luck! 

Says the third Wednesday of the month but the 25th is a Tuesday. Just want to confirm that's the correct date? 

Great event @Khaled Morad! Looking forward to another good outing. 

There are a lot of rules and regulations in Pinellas County but the areas that do allow them do very well. On the other side of the bridge in Tampa is another great spot. Inside city limits of Tampa is allowed and it's a great way to cash flow property that should see solid appreciation in the years to come. 

@Dustin Pavlik I have a list of the rules for different municipalities that I'm happy to share. I wouldn't recommend risking it in an area that has regulations preventing it. All it takes is one complaint from a neighbor and then your sh*t outta luck. Can try to transition it into a long term rental but if that's not cash flow positive, which it most likely wouldn't be, what then?

When the wise one @Jeff Copeland speaks, you listen. But in all seriousness, as Jeff said, the amount of appreciation over the past 12-24 months gives a lot of sellers the ability to sell before foreclosure because they can get more out of a sale than what's left on their mortgage.