All Forum Posts by: Margie Cindy Santos

Hello Matt, here are my two cents:

1. Not all lenders will allow this and if you don't have the funds sitting in your account for at least 60 days before applying or closing they will look into source of funding

2. It may be easier to collateralize a different property you own if this private lender

Hi Kenny, typically, accumulating equity/appreciation is a better play for creating wealth when you are young. If the duplex have the same upsides as your current property in terms of appreciation then, it sounds like all you're doing is increasing cash flow which is a smart play. 8% sounds also a little high, so if there’s no Prepayment, maybe you could even lower the rates when you do the 1031 exchange. 

Hello Adrian, your $65K rehab should be stress-tested. You might want to look on these questions: Have you gotten multiple contractor bids? Have a contingency buffer (10-15%)? Considered holding costs and timeline if there are delays?

If the reno and ARV is not accurate, you're potentially in a tougher spot so it would be important to double check. Happy to connect!

Hi John, are you putting any renovations do this? Rural properties with minimal comps are risky so it would be a good idea to bugger a lot more room to the profit margin.

Hi Shania, don't be nervous as you are one step closer to your first investment! The most important thing is if a lender/appraiser can get access to the property. If access is not permitted to the inside it will be difficult to get financing.

Are they open for inside access on the property for inspection?

Hello Raul, I heard that South of Main is a neighborhood on the rise. It offers residents not just a place to live, but a vibrant lifestyle to embrace and enjoy. 63% of the households are renter-occupied, so if we can find a good spot, then you can do an LTR.

Also, how far are you from Ohio? Happy to connect!

Hello Ian, first of all, Congratulations on your journey to real estate investing. The market is cyclical. Understand that real estate markets fluctuate, so don't panic sell during downturns.

What does financials look like in terms of other assets like stocks/bonds/gold etc? If you don't have other assets as much, perhaps you can reallocate and diversify by getting into other asset types or different types of real estate like commercial buildings.

Hi Alex, welcome to real estate investing! Every property is a learning opportunity. You've got this!

About 50% of the households in Tampa are renter occupied so you are in the right track. Highly suggest to create your own reliable and trusted team to start with. Look for local real estate brokers who can provide reviews and experiences on the properties available.

Key Considerations for Single-Family Homes in Tampa:

1. Location - you need to choose a location that will impact both the purchase price and potential return on investment (ROI). Given the influx of new residents, single-family rentals are in demand, particularly in suburbs like Brandon, Carrollwood, and New Tampa.

2. Price Range - home prices in Tampa have been rising due to strong demand, so you need to run the numbers.