All Forum Posts by: Dillon Cook

@Tien Cotter

We are a top end PM company in the Tampa Bay area. We are closely affiliated with a construction company and have been building brand new homes in the area. We sell to investors, lease, and manage so the experience is maintained around a couple points of contact the entire time. Feel free to reach out for specifics if something like that interests you.

@Stephen Brown

You could keep management and have tenants pay for their own water. Is it a side by side duplex? Split meters. Small upfront cost but long term you can keep rents about the same, but allow tenants to pay for their own water.

That's right. CT has had several unfortunate policy advances this year. This and the Family and Medical Leave Law come to mind. Lots of opportunity for fraud.

You closed in late 2019 and just found out they have been living there this year?

Depends on what you want to do. Either way, I would contact them directly and tell them you need to set up a written lease with market rate rent or give them the opportunity to leave the property within a reasonable amount of time. Encourage them by saying you won't file an eviction if they do so. This will save you hundreds or thousands and it will keep their rental record clean.

You could even offer them cash for keys (if that works in IL?) before proceeding with a potentially lengthy and costly eviction.

You're on the right website! It sounds like you want a STR that can also be used as a winter house for family AND flips/BRRRR.

Just my opinion, Tampa BRRRRing is getting hard now with prices and materials at all time highs. Tampa is more of an appreciation game with some cash flow on the side. Alternatively, look just outside the Tampa Bay to Polk or Pasco county for some better deals. As Tampa's growth continues, and it 100% will, this will ripple into the surrounding areas i.e. towards Lakeland and i-4/i-75 corridor

@Kasey Destache

Best way...property manager

@Shane Short

31% coc roi, something is definitely overlooked.

Insurance shows $6? 1500 a year avg.

Estimate taxes directly with new purchase price from county appraiser website.

Don't count on rentometer to give you an accurate rent estimate. More times than not just in the last week it's been off for me. Talk with an agent who works with investors and/or a PM.

I believe that will go down to 10% coc or less real fast

@Nicholas Jose

Reading more comments here.

Guy sounds like some work. I'm not sure how you verify his information, but I almost wouldn't accept bank statements anymore with the creative levels of fraud rising.

Paystubs or tax returns, call employer to verify paystubs. (Also seen some pretty neat fake paystubs recently)

@Nicholas Jose

Don't give out too much information. Politely and vaguely say they did not provide REQUIRED information you need to process their application.

Someone else did and is now approved.

@Eric Bilderback

I see it as an incentive for investors to keep using their capital to improve the lives of those in their market.

Doesn't matter the party, government has never managed money effectively. They have to print 50% of all the money they spend.