All Forum Posts by: Devin Beverage

@Danielle D.

I didn't buy it! It needed flood insurance and once I stopped trying to make it into a deal I realized (like some above) that it really wasn't such a great deal... As my first buy and hold property I want something "stupid" safe before I go into actual ownership. I've been navigating the wholesale side of things instead, and meanwhile hoping to find something I can get into "creatively," with a sandwich lease / L/O, etc. I'm not in a hurry to actually buy anything because the market is on the up and up. My plan is to build cash reserves now and buy next dip. You're definitely right about Tampa! Goodness. But the persistent will make it.

This is way old, I know, but I was hoping to find a resolution as to the potential ethics (?) issue with the "My wife and I" template, as well as the debate using fake names, while we're at it. I noticed @Jesse Ramirez asked whether sellers could go after you of misleading advertisement or whatever, but no one ever addressed it. Anyone willing to revive a thread, I'd love ya forever.

This is a little bit of an old thread, but I'm hoping someone can confirm that the old pricing is still available? From what I'm looking at, trying to sign up, there are only Gold and Platinum packages, and 2000 records is between $80-325 / month. (AgentPro247)

@Rand Owens

I haven't done it yet, but I believe you can go to the courthouse for this. You could always get the leads online as well, but I couldn't direct you where just yet. I've heard mixed messages about which is better -- courthouse or online. A few who have tried both and tested it say online has the full list, where the courthouse only has a limited amount. 

Sorry for the super late reply here, guys. The property was on MLS, but it was indeed listed for over 180 days. I talked to the commercial department of my office about the property and she pointed out that in some of the photos it actually looks like there could be some settlement issues. I don't trust the agent/property manager (yup, same guy) selling it and I've gotten some inconsistent information as well.

My original financing plan didn't pan out and I'm no longer pursuing the property. I did consider living in it for like two seconds, but it isn't quite an area I would feel comfortable living in just yet, at least not in the same building as people I rent to. 

I also couldn't find a pulled permit for replacing the roof in public records meaning more likely than not it needed replacing, and decided that this along with everything else was enough to estrange myself from the deal. Thanks everyone for replying. :) 

Are you suggesting putting your home in the LLC and technically renting it to yourself?

Hi Artemio, 

I'm an agent in Tampa Bay. If you're looking to find investor friendly agents, make sure to attend your local investors' meetups. The savvy agents attend these if they are investors themselves, want to work with investors, or are interested in getting into that side of things themselves. If you form a symbiotic relationship with these agents, which shouldn't be too hard, they may be able to let you in on pocket listings and things like that. 

Also ask around your local investors for who they talk to when they could use an agent's assistance. They don't tend to work with any old agent, but rather with those who think like themselves and know what to look for. 

You can find local meetups online. Try Craigslist, Google, and MeetUp.com. 

Good lucK!

Hi Rick, 

Awesome job on your rehab! I love multifamily. Your best bet is to scour the local investors meetups. Do a search on MeetUp, Craigslist, or just start with Google, and mark your calendar for when the groups meet. 

In addition,I'm down in Florida, and I don't know your local laws and ordinances and things, but here we have pretty common "bandit signs" with variations of "4/2 investment property," "Rehabbed 2/1" "Rent-ready investment property," and the ubiquitous "WE BUY HOUSES (888) 888-8888" scrawled on them in sharpie or printed. I think it's really important to know your local market and everyone you can know that plays in the real estate market around you, so I always take photos of these and call them to find out what they're about. 

These are the best ways I can think of just off the top of my head, but try both out and you'll end up discovering more resources for meeting people, learning, and finding deals. 

Best of luck!

There is a 4-plex I am looking at that is not in the best of areas, but isn't right in the middle of a war-zone either. All four units are separately metered (tenants pay rent), with rents as follows: 

Unit 1: $550

Unit 2: $495

Unit 3: $450

Unit 4: Vacant

Each unit is 2 bed/1 bath (rents are a fair amount below market, but two of the leases are up in 4 months. Rents could probably be raised to $550-650 based on the area. 

The property is $105,000. It's just East of Nebraska Avenue, if you're familiar with Tampa and/or Ybor. I've included some pictures.

As you can see, a couple floorboards need replacing in the living room. this is one of the units. 

Hi, @Jacques Wurms!

I'm actually a new real estate agent in Tampa Bay. I haven't closed my first wholesale deal yet (mostly because I've been so busy with my full-time job and going to classes to get my license) but I've been hunting for leads and getting into the biz as much as I can for a while. When I started I had no intention of becoming an agent, but since I'm moving to Tampa and wanted out of my industry but to stay in sales.. And I've always loved real estate, I realized, "Oh, wait. Why don't I become an agent?" 

Anyway, before I got my license I was very cautious because I knew the extra rules and regulations that we have to deal with. I actually had several people encourage me to get my license because it can aid in your wholesaling endeavors. On one hand, some owners will try to tie you up and say, "Well is the house worth what you're offering me? You should know." Then again, others will trust you more because you are licensed in the industry. You can turn around anything they throw at you, though. Are they trying to sell their house quickly, without the hassles and fees of getting it listed and dealing with negotiation and pretty much a minimum of 45 days to close? If they really want, you could list it for them, but... And you can make that sound as favorable as unfavorable as you want. 

You make it clear that you're representing yourself, not them. I don't know strict legalities, but personally I intend to disclose to every seller that I may keep the property for myself, to hold, to flip, to live in, or I may also reassign it because I have a network of investors that I know who might also have interest in it. Some wholesalers pretend the whole way that they are going to be the one buying and then reassign the contract, which may end up confusing the seller and pissing them off, muddying your reputation. Full disclosure is important, and it gets easier the more confident and skilled you are. What you can promise is that there will be a quick closing and that they'll get paid what the contract is signed for. 

Good luck! Since I'm done with my old job now I'm going to have more time to scout for deals, so I'll have greater chances of actually getting things done. Keep us updated on your progress if you decide to wholesale.