All Forum Posts by: Doug Merriott

@Michael Leonardo Welcome to Bigger Pockets. 

Hope to see you tomorrow night.

One suggestion would be to go Pro and advertise in the marketplace. 

Another would be to find someone in the area to pitch deals for you at local events.

@Account Closed I just got clarification on that. There are actually legal ramifications of funding the first deal with the second deal's money. If you can fund the A to B close then you can continue with the B to C close. 

@Phil B. try calling it A to B and B to C closing and see where that gets you. I know that the practice is frowned upon by many Realtors, because they may worry that their clients feelings might get hurt. I don't know why a title company would tell you that. In essence you are selling the same day you are buying, great for your holding costs, great for the title company because they get to double up on the deal. In all honesty it just sounds like a receptionist answering the phone and not knowing what it is, getting scared and telling you that it is illegal. 

I called a couple of title companies I know over here in Pinellas. One said it was just fine, the other said it was fine but would be concerned about RESPA violations. If institutional borrowed money were in play then you may want to be cautious. 

As far as a title company you may want to go to a Tampa or Suncoast REIA meeting to see who everyone else is using.

@Joe Bergamo Welcome to Bigger Pockets! There is a lot of good stuff happening in our area. I agree with @Siye Baker , definitely get out there and network with local folks, they know what is going on in your area. I was just learning a bit about Palmetto last night from a guy I met at a REIA.

I certainly agree that MH investing makes sense for our area. I just do not have experience in it. 

Something else to consider in your search is flood insurance. This will be a key part of your holding cost math. You would use the FEMA flood zone map search, to search the address and check the code. Flood zone X is okay, no flood insurance needed, AE is not good from an insurance standpoint and can cost you some serious money, VE is coastal and if I recall a home has a 24% chance of flooding in the course of 30 years.

@Daniel Miller you forgot to mention the boogeyman and the ghost pirates...

@Adam Craig I think you just described St. Pete/Clearwater area. I personally believe it is the best part of Florida. You would have a difficult time being right on the beach, but within 10 minutes is very possible. As @Warren Sterling stated Clearwater Beach is frequently named one of the top beaches in the country by the likes of Sports Illustrated, USA Today and Parenting magazine. Most of the areas that fit your criteria are also less than 25 minutes from Tampa International Airport. 

@Brie Schmidt Congratulations!!!

Good morning @Walter Pape @John Fedro has written a number of great blog posts, many of them are about mobile home investing.

Here is one that immediately comes to mind.