All Forum Posts by: Dennis Henderson

I live in the Tampa Bay Area (Pinellas County) and am looking to move my real estate license to a transaction based broker. Let me know if you would recommend a good brokerage in the area that is investor friendly and accomplishes the following:

* 100% commission

* Transaction fees only based on purchase and sales

* E&O insurance as a transaction based

* Supports being a property management company

I plan to only use my license for purchase and sales of my own investment properties and in the future also focusing on property managment. I don't need a traditional real estate broker. Note I'm not asking for a FREE broker, I get everyone has expenses, I am just looking for one in the area that is good with me holding my license in their brokerage and collecting a transaction fee only when I buy or sell something. (On occasion I may help someone buy or sell but it's not my focus).

Note: I already have experience with the buying and selling process so I don't need any training on forms, documents, etc.

Thanks!

0 Votes

Tampa, Florida

Looking for investor friendly contractors. Have a 2/1 in St Petersburg under contract and need estimates.

Needs a bit of everything (except for the roof which will be new) including repairs to the wood foundation.

Have current pics and pics of roughly what I'm looking for. Can meet you tomorrow or sometime this week. Thanks.

0 Votes

Saint Petersburg, Florida

Check it out, I only live a few miles from the first home in the US that sold as an NFT Transaction so my Dad and I got a chance to interview the neighbor and I just posted the video on YouTube. Take a look and let me know what you think.

1 Vote

Quote from @Brooks Becker:

Quote from @Dan Maciejewski:

You can make great money if you know what you're doing.

Arbitrage is not a wrong, description but what you're talking about is a Master Lease situation. If I was you, I would already have some idea of what exactly I'm asking for as I call landlords and propose this to them. And by that, I mean, I would already have a master lease drawn up with terms in it. Hopefully by an attorney.

And you'll have to have some idea of why they would forgo income that you'll be able to earn when they do this. Because if you came to me and asked to take a master lease on one of my properties, I would say, "What's stopping me from just turning my property into a short term rental myself?" There are answers to that that may make sense, but in my case, I know it's not complicated at all to run an STR. Although I have the benefit of being in the space, and a partner that has been in hospitality management in the area for decades.

Some ideas (BTW, these are what to look for in a short term property manager):

You know exactly how to turn a property the fastest and most economical way, and have the best inspectors.
You know exactly what the guests are looking for in terms of arrival experience, cleanliness, and decoration.
You know exactly how to adjust rates to be the most competitive and maximize ADR.
You monitor your comp set daily and adjust rates and minimum stays accordingly.
You area a business owner and run forecasts and P&Ls like a big business.
You handle the purchasing and renewal of soft goods, and the owner won't need to worry about that.
You can increase their cash flow with zero extra work on their part!

Also, neither Clearwater nor St Pete allow less than 30 day rentals (St Pete will allow 3 less than 30 in a rolling year).

This is great information!

Dennis- I imagine you reference not being able to purchase because you have a 1099 job. There are lending options out there that qualify the purchase based on the rental income from the property. These will have higher interest rates but paying more in interest may out way not buying at all!

Something to think about. If you want to learn more let me know.

Thanks for the reply, I called and left you a message, would like to hear more.

0 Votes

Saint Petersburg, Florida

Quote from @Dan Maciejewski:

Awesome info, thanks for taking the time to write back this detailed information. I know a lot of the areas do not allow short term rentals, but Pinellas County Unincorporated does as well as largo. So long as I stay away from places like most cities that have restrictions, and HOA's I imagine it would be fine. What about keeping things above board with Taxes and Pinellas County? My understanding is Florida Department of Revenue requires a Tax ID and a DR-15 form to be filed and Pinellas County requires the following form to be submitted (https://www.pinellascounty.org...). To my knowledge I don't have to be the actual owner to be in compliance correct?

0 Votes

Saint Petersburg, Florida

I'm looking to connect with investors that have successfully done Rental Arbitrage for Airbnb in the past.

I live in a hot spot for vacation rentals (Clearwater / St Petersburg, Florida), and have been researching the regulations in my area for short term rental rules for a few months now. I'm unfortunately not in a position to purchase an investment home due to my current circumstances taking the leap of faith and moving from a W-2 to a 1099 last year, so I'm looking to see what I can do to get into the investing game. This has lead me to the thought of Rental Arbitrage because I have enough cash in the bank to be dangerous but not enough to pay cash outright for a home in my area. I don't mind calling the landlords and I know I can make some deals happen if I'm not blindly going into it with no experience an w/o someone that's done it before to help answer questions.

-Dennis

0 Votes

Saint Petersburg, Florida

All Forum Posts by: Dennis Henderson

Dennis Henderson has started 4 posts and replied 6 times.

Post: Looking For 100% Investor Friendly Transaction Based Broker

Post: Looking for a bid on a rehab in St Petersburg.

Post: Interview With First NFT Home Sold In The US

Post: Airbnb Rental Arbitrage Guide

Post: Airbnb Rental Arbitrage Guide

Post: Airbnb Rental Arbitrage Guide