All Forum Posts by: Dottie Matheson

Asking for advice from anyone who has purchased an occupied REO or at foreclosure auction and what is your experience with getting them out. I am looking to purchase multiple properties in the Tampa, Fl area and wonder what the laws and such are concerning getting them out?

I am looking at a possible purchase for a rental just south of the university of south florida area. University Square in Tampa.

Is this a good area for a rental? 

Any comments, rebukes, stories advice is greatly welcomed!

@Wes Blackwell

Great study post Wes

I believe it may be sitting on market so long and warrants a lower price because it backs right up to an active train run.....see the train tracks?  Also may be harder to rent at an increased amount because of the noise.

Missing are the expenses.  I would add in monthly expenses:

5% vacancy

5% maintenance

6% capital expenditures

10% property manager (i manage mine own but if I ever got tired of it I have that # worked in)

$390 needs to be included in the equation:

It still cash flows at the lower price, however the number is $151 a month.  These are real expenses that need to be worked in.

Hi Tiffanie

You can google yellow letters and many companies come up.  I did a research once for them but choose to pay a college student to write mine for me.

Hello Everyone

Can anyone share with me about this area?  Just curious if it is a good buy and hold area to invest in?

Any comments helpful.

Thank you.

Hi

I am looking to purchase a multi-unit for a child who will be attending UCLA.  I found one in an area near Inglewood that might work and bring cash flow.  Would love to here what everyone thinks about the area between 110 and Normandie north of Florence.  

My most concern is the Rent Control Ordinance in LA..but I do not know the boundaries.

 Good words Jeff....if they really want to sell.  Too many times I have danced around with sellers and when they do not move forward I have found they really don't want to sell and down the road when it goes off market I've found out that they changed their mind about selling.   There is truth to both sides...there are both sides to the coin and they really do want to sell but want a certain number and eventually they do sell at a discount.  So with properties sitting on the market I have learned to find out in the beginning if they really want to sell.

 Great post Wes

Derek...I took a look at the 275K and it is actually 3/2 and 2/1 with more square footage with 1 unit updated and the other dated.  However the one for 259K pretty much has all the improvements that the $325 one is offering.  Hopefully the seller will come to reality or maybe he does not really want to sell and is in no hurry.  He may be just testing the waters to see what the market is telling him.  I have found that to be so with many homes that have been sitting on the market.  Seller are just in no hurry.

Hi 

I'm am looking to bid at the Pasco County Online Foreclosure Auction and wondering if anyone can share the process, experience,success or failures?

In particular is where to check for a clean title or title search without paying $$ to do a title search?

Any information is greatly appreciated.

do you go to the port richey area?