All Forum Posts by: Natalie Davidson

Lakeisha, I'm looking for SF homes under 80k in saint petersburg. Do you have any experience with prices being better in a certain season in your area?

Scott, with respect to what you said, I ask because florida is highly seasonal. I'm not sure if you're aware but many parts of florida nearly double in population in the winter. Thus, I assume that summer would be better, but you also have families that prefer to move in the summer. So I was hoping to find someone seasoned in the real estate market in St Pete for general reference on the topic.

What is the best time of year to buy real estate in the St Pete/Tampa Bay Area? Early/ late summer? Spring? Typically I feel that one might get a better deal in Florida in the summer, but I'm wondering if anyone has experience in the Tampa Bay Area. Thanks for your time.

(Three homes that all have a mortgage)

I may not be able to get a loan because I am moving and will not have a job. However, the biggest reason I'm moving or because I can afford a home flat out. I do hate the idea of borrowing on my home if I don't have to. I want the security of no liens or payments. I want to know it's mine flat out. Then I will save to put down 20% on a rental property. I should make 450+ a month per rental property. I feel much more comfortable having a loan that essentially someone else will pay via the income producing property. I have considered purchasing three homes with my savings. I calculate I would make more faster but I think that is truly risky.

Thanks jerry! I have calculated those costs to about $400 a month. I am currently paying rent which (if all goes according to plan) will be ending soon. Is homeowners insurance the same as property insurance? I will definitely have an inspection, what do they run? I definitely need title insurance buying from the bank? Shouldn't they have that squared away? How much is title insurance if the home is 65k?

Yes yes! Will live in the house (of course it is still an investment via resale or renting a room). What should a first time home buyer know? I may only keep insurance during hurricane season, or decrease coverage afterward if possible. As far as negotiation likely anything I will buy will be bank owned REO so negotiation will likely be minimal. I should get a good deal that way anyway though I hope!

Yes, it is a cash buy, so technically I wont have to have any insurance at all. I can't lose the house unless there's a massive storm and bad luck, or I don't pay my taxes which wouldn't happen. With mandatory expenses at $650 I don't see any scenario where I couldn't make that. The credit cards would just be if I did lose my job, to give me time to get another job, But really any job (even part time) would cover such low expenses. What I do anticipate is making at least 2-3k leaving me a savings of 1-2k a month which I will use for repairs and a new nest egg for the next place which would be a rental savings.

I am just starting out, I guess what I was really asking is what typically goes wrong, what surprise expenses might I run into. I wasn't planning on using every penny but like I said I think its a better investment than the cheaper places. It ultimately will make me more when I sell it, but this would be my homestead. I'm likely making an offer Monday.

How would it have ruined you? See I will own my car and my house, the only way anything could be taken from me is if I don't pay taxes or insurance. I don't see what I will lose in the long run.

I will be living in the house, and I figure I will make money so quickly and save that I will have that emergency fund within 6 months. I hear you though, what are some things that may come up financially (unexpectedly) outside of the roof/AC?

As far as what I will get out of it, after just two years I will make 2-3 times more with my max budget than with something a little more within my means. It's the best investment opportunity I see in the area I am looking. I just need to weigh out the risk, and to me the risk seems like un-comfortability. At the end of the day I get the house I want that will sell for much more, and I just live in a house that needs some minor repairs and is not all cushy at first. Keep costs down initially and save, ( I can also rent out bedroom #2 to have even more monthly income to get back into saving).