All Forum Posts by: Marelyn Valdes

I tried to use Home Depot's services once on a rental.  They advertised installation of carpet and tile flooring and required their contractor come out to do an estimate.  Well, the guy kept adding extras (which were more than I could get at a local flooring company) and so I nixed the tile and went with just the carpet and pad installation.  They ended up taking over 3 times as long as promised and when you call the store they say it's the contractor not them.  I would never use their contractors again.  Also, if you are doing that much rehab, pick your supplies and run it past the pro desk, who will knock a lot off the price.  Remember if you hire anyone, put time is of the essence in your contract with a finish date and have someone monitor the work and use of your materials.  I pay for my own materials and hire contractors to do the work by the job, not the hour and only pay draws as work is completed and not the final until it passes my inspection (or any permits, if needed).

Josue, I have it rented to a family with animals. The rental income is not close to ROI on a $720,000 purchase price. At least it qualifies for the ag exemption on the taxes.

I am also in Ocala and currently have 6 rentals and am always looking for more. I love the SFH rental market here, although my one mistake was buying a 30 acre farm with two homes on it. Hopefully with the amount of new construction I may sell to a developer in the near future since the ROI isn't anywhere near what it should be compared to SFH's.

I put in to use my title company unless the seller pays for the owner's policy.  This is so I get a reduced rate when I sell.  I would call his title company and ask about their fees on a closing.  Some pad the bill with little extras like keeping paperwork on file, courier service to file at the courthouse or even a charge for handling the closing in their office.

Eric, I am in Ocala and SFH's are easy to rent. Try checking Facebook's Ocala for rent or sale or Ocala rental pages where people are lined up looking for houses. I prefer a 3 bedroom as it's the easiest to rent and avoid 4 bedrooms as I was burned on renting to a huge family.

I also see the number of bathrooms. I bought a 4/1 and returned the fourth bedroom back to a carport.   No way someone who needed four bedrooms could live with only one bathroom.  On another home with a converted garage I installed French patio doors and called it an office that could be used as an additional bedroom or family room.

Don't just prorate and give him the deposit back.  Send the required notice of your intention to make a claim on his deposit for the four days and send it certified return receipt.  He has 15 days to dispute your deduction and then you send the check to him.  I have written up a contract that says the tenant waives mailing the statutory notice for the deduction and that they agree to the amount deducted and have received the balance -  check # and amount.  I get two copies and we both sign and each keep one.  

Ocala (Marion County), Levy County, and Gainesville (Alachua County) have a very strong rental market. You do need to make sure to buy in a decent neighborhood and move quickly if you find a bargain. I never buy where there is a HOA - don't want any fines if tenants break rules or the HOA has problems. I manage my own rentals, so that saves a lot of money and handle my own evictions on the rare occasion I need to get rid of a tenant. Vacancies are filled almost as soon as the properties are available if you price right. I also mostly buy fixer uppers, but have excellent repair people and pay less than most for repairs and rehabs.

Have you contacted the board of realtors to see about filing a complaint?  Also, the realtor should have professional liability insurance so make a claim.

You might want to read this on Florida's early termination liquidated damages clause for your new lease.  http://www.nolo.com/sites/default/files/FL_EarlyTermination_LiquidatedDamagesLeaseAdden.pdf