All Forum Posts by: Aaron T.

I am in a similar situation. I would like to use a HELOC on a couple properties.

Thanks for the heads up on TD banks.

Chris,

Thanks for the reply. I have a link to a online RE license school for Florida.

I will have to do more research on an invsetor friendly Broker in Tampa that will be able to help teach the day-to-day items needed to make deals, and work with investors that are working full time jobs.

Chris, what does local board mean? sorry for the basic question.

I am looking at getting my real estate license, but had a couple questions. I have listened to the podcasts, read some other posts, but still was a little unsure how this worked when you are an investor and working full time.

- I was told what was on the test in FL was not exactly how the real world works for doing day-to-day operations. If this is the case, how do you learn as an investor to write contracts, do paperwork, etc..? I assume a agent mentor would be good at this point.

- Once you get your license, how do investors align/find themselves with a investor friendly broker?

I want a license, so i can make offers, have MLS access, run numbers to do comps, etc...

If anyone has info that would help in the Tampa market, I would love to hear about it.  

I was also outbid on a REO in Tampa this weekend. The last bid i was aware of was 20k over the list price. The bank took all offers until the closing date and time.....essentially a auction. At the price that was bid, there would not be any money left in the property. at that point you could only hold it and hope for cash flow or appreciation down the road.

Most umbrella policies will go through your auto carrier; at least that is what i have been told by a few companies i have spoken with. 

INS in FL is a PITA, because nobody wants to insure. I even had USAA, and because I moved my primary home, they would no longer insure me....so much for a military benefit. 

I have citizens on both my rentals. The older homes cost more, even if it is a complete rehab. 

Flood INS is currently subsidized by the state. If you remember last year the flood INS scare. people were going to have to sell there houses if the rates went up, because for some it would have been unaffordable. Because of the subsidy, I think twice about flood zones. If the rates were to sky rocket, there would be no way to get out from under that property without taking a loss in my opinion.

ken, thanks for the reply. The property was a great deal,  but we were outbid by other cash investors. I stumbled onto to property, so I did not have any lead time for funding options. No big deal, there will be more deals out there.

I have a deal in Tampa on an REO that I need to have financing in place. The Bank is taking offers until 5pm tonight.

I ran the numbers and there is money to be made.

How quick can you get approval for hard money? or any suggestions on how i can turn up 60k by the end of the day?

@Dave  Bingham, Please forward me the info as well.

I may need someone in the next month to hang cabinets, do bathroom surrounds, outlets, etc...

Eric, 

thanks for the links. i am looking for a contractor and handyman as well.

depending where the condo is located, if it is furnished, you may be able to get some short term military members in there that are only in town for weeks or months.