All Forum Posts by: Armando Payano

Hello BP We are in need of a handyman to take of small general maintenance issues. Leaky faucets, washer dryer issues, broken windows etc. Do you know of someone in the Tampa area in need of work? Please PM me. Thanks a bunch!

Hello BP Can anyone recommend and AC repairman. The unit is located in the Seminole Heights area of Tampa and most likely just needs freon. Thanks

Hello BP I have received a quote for faux wood window treatments for a 3-2 rental. The quote came in at $1842 for 11 Windows and doors. This seeems way too expensive. Can anyone here share their thoughts and perhaps a contact for something more economical. I am in the Tamp area Thanks

Focusing solely on the negatives on the current state of my market because my strategy will no longer be viable to me is a gigantic waste of time and energy. I'm better off focusing on the things I can control and adapting to whatever the current market is. 

Am I wrong in thinking that when there is TRUE change in real estate markets and their preceding trends, that there is great opportunity? 

@Ryland Taniguchi I respect your experience and accomplishments. Knowing what you know now, taking into account where most markets are in their cycles, how would you invest if you where just starting out? 

I'm am looking forward to a market correction but they historically last 2-4 years before stabilizing. How would you deploy capitol in the interim? 

@Russell Brazil great quotes. Imo, having lived through the 2008 housing crisis we all experienced a once in a lifetime anomalous event. Etched deeply in our psyche, it is human nature to be on alert (even attempt to anticipate) a similar event. Gun to my head, I would say analyzing real estate markets based on the last 8 years I s too small a sample size. Odds probably favor property values likely being back to their normal ebbs and flows. Whos knows. We continue to seek out GREAT DEALS. WE are 1 unit behind our target for aquisitions for the year. A good DEAL hasn't materialized YET. Frankly It doesn't really matter to our model we buy cheap, fix well, rent and hold. K.I.S.S! 

My high school baseball coach used to say "you can't steal 2nd base from the dug out" Get in the game!

@Thomas S. Curious how, "having any quantity of cash buried in a property is a bankruptcy waiting to happen" 

Can you give an example on your thesis?

Personally I want a pull back in prices SO bad. All our units have greater than 25% equity, all but 2 where purchased below retail prices and cash flow good enough even with 50% income reserved. Being able to ride out the enevitable pull back in prices by buying correctly is the ultimate insurance policy. 

We have been building reserve capitol for just this sort of time. CANT WAIT!

Extreme itemization. 

Good work.

On budget.

I am willing to concede TIME (hopefully within an acceptable deviation of forecast due to unforeseen issues on the work and NOT because the GC is pulling guys to another job)  for budget. 

My GC of over 5yrs just relocated 😢 to another state I'm so bummed! 

thanks for the help. The agent was referred to me because he specializes in rentals. It's all he does. He was was referred to me by another agent that I have worked with on a few other deals. 

I used him because this month I am literally too busy and I was willing to pay the fee for a quicker, than I could produce, turn.  He agreed to manage the repairs and find a tenant. 

Lesson (being) learned.

Hello BP

I'm curious if any agent or property owner can help me out. This is my first time using an agent to find a tenant for one of our Tampa area SFR rentals.

The agent I'm working with has found a prospective tenant and ran a credit check, criminal background check as well as an eviction check and requested prior landlord referral. He said he verified his employment and financials. He told me everything checks out and the tenant is dropping off the deposit money. I then told him before you accept any funds forward me his credentials. He then tells me that he cannot provide me with the background check, credit report or criminal history or he can lose his license. He says he can tell me the prospective tenant doesn't have a criminal history and "has an 8+ credit score" 

Is this a red flag? I have never rented a unit with out seeing first hand a tenants credentials.