All Forum Posts by: Ari Steinman

@Wayne Brooks

Thank you- that was very helpful. Are you sayin that it can only increase 3% a year? or thats for the homestead exemption?

Have you ever tried to get  taxes lowered on any properties?

Thank you @Raymond J. Rodrigues and @Devin Peterson I will reach out.

Thank you @Raymond J. Rodrigues I appreciate that!

I am currently working with a local broker but I'm happy to take advice from anyone offering :-) 

But can I hear about your investors mortgage options?

The one year raised rents presumption is only bec the tenants currently in the duplex are paying way under market rent(30%) 

Regarding the LLC rule- Nice, interesting. Thanks for quoting that out for me.

Thanks @Zach Wain !

Yes- thanks for pointing that out- 100% true story!

I thoughts most lenders wont let you transfer in onto an LLC after purchase?

I'm looking at in the 25% down range.

By supplement I meant that one lender told me that they are lending based on DSCR amount and they cant lend me the full 75% LTV right now based on current rates but since they see the potential in the raised rents I will get in a year they are willing to add more money to the loan then when they see the higher rents.

Property Taxes is one of the highest recurring charges that we have to pay as landlords/investors.

I'm told that in FL even if the taxes were low were a long time due to an old outdated assessment, after you purchase the property the next year the taxes will correct to market rates which can be a big hit if its jumping from $1500 to $3800.

Correct or incorrect? (I'm specifically looking in lee, charlotte, Sarasota and Volusia county)

Additionally, as investors what is there to do to get property taxes lowered? I know there are attorneys/companies that say they will try to get your taxes lower but when do you in which situations its worth it to go down that route?

Hi, 

I recently starting investing in FL in SFH and duplexes.

I reached out to 2-3 lenders in FL to see what financing options they have and I figured I'll try my luck here too to get more options.

I know it's hard to give a exact interest rate but you can give a best case scenario of the lending products you offer with todays rates.

I purchase my properties in an LLC. Homes that are in the 300-400 ARV range for buy and hold long term rentals.

Do you offer conventional loans or just investment loans? What is your min. DSCR? What is your current rate (If the borrower has a good credit) Are they Recourse or not and is there a pre payment penalty? Can I get supplement to the loan after we raise the rents?

Thank you!

@Raeford Leonard Black II

I'm interested in hearing more about your experience- Why was this an expensive lesson- what fees did you have to pay for?

I would also love to have contractor contacts in the area for when I need one 

Hi @Raeford Leonard Black II

I own a property in the area and have spoken several times with Michael from Red Fortress Property Management. He was very patient and knowledgeable.

I didn't hire anyone yet but I will probably be using them.

Let me know who else you find!

Another Question about taxes in florida- I understand that in Florida they base the taxes on a recent sale if there was one done the year before. Is this true?

I just bought a duplex in in Charlotte county and I received a "sales verification questionnaire" from the county property appraiser. Does anyone have experience with these- are there any pros or cons to filling this out?