All Forum Posts by: Michael Onuigbo

Quote from @Dave Meyers:

I’m interested in manufactured homes, but curious on economic differences from site built homes.

Can you point me in direction of ebooks, articles, etc…

-how they appreciate differently

-how they depreciate differently

I think someone else also mentioned it, but make sure you check out Adrian Smude's content. I got to see him live at a REIA and he's got tons of content to help understand what to look for and what to avoid - pros and cons of all styles and years. He has a book out too.
https://adriansmude.com/

@Greg Simpson I’m assuming happy hour already went down? Lol I just updated my BP app and I’m vowing to check here more often for Tampa related forums 👌🏼

@Jorge Vazquez Tampa and St. Pete still have some seriously great buy and hold deals going even on the MLS if you search hard enough and run your numbers frequently enough to realize them. I’ve been buying here for the last 2 years and plan to double up my portfolio before mid next year.

All very good input. I’m definitely going to give first citrus a call too. 

I will say in quickens Loans defense that I’ve had an awesome experience with two mortgages through them so far. They have it down to a science over there. What they can’t provide, obviously, is a local point of contact and services like wires, checking accounts and whatnot. 

Thanks guys!

I have a couple rentals in the St. Pete and Tampa areas and I’m seeking some recommendations on a local bank or credit union I could start building a relationship with. I have a deal right now I need to refinance and already have lending approved with quicken loans, but I think it’s a good idea to build a local relationship now. (Lines of credit, checking accounts etc) Any recommendations on banks that offer good checking products and service for investors would be greatly appreciated!

Really good insight Patrick L. I've been watching S St Pete and really think it's still an awesome place to snag some properties for long term rentals as long as you do your due diligence at screening and managing tenants

St Pete is definitely and awesome city. I definitely recommend you do some driving around the city to learn about some pocket neighborhoods. So many times properties like the one above look amazing on the MLS or Zillow, but turn out to be in "rougher" neighborhoods. Helps save time to weed out what you want :) cheers

Now you say that Wayne, escrow is with the title company not broker. the reason I was not able to close was because the bank could not finish my financing in the time alloted in the contract, instead of allowing a few more days for the bank to finish, the seller backed out and stayed in the home. 

It looks like the I will have to move to arbitration. However, I thought that inside Florida law it says that the escrow holder can release the funds back to the buyer if the reason for no sale was because of not being able to obtain financing, without having to go through the rest of the steps and without seller permission 

thanks for posting this up bud. I actually have a very similar situation going on in Florida right now. I am trying to avoid litigation and wasting money and time to fight it. I am interested to see how yours pans out.