All Forum Posts by: Doug Merriott

Hi @Kerry Hennessy 

I kind of wish I knew Gibsonton or was close enough to play there. Seems like there should be a ton of untapped potential there. I would think with all the new jobs they have down there that it would be a great buy and hold market. I have come across a few wholesale deals that look good on paper but don't know the market. 

I've heard of Pinellas County!

Opportunities are here. We are experiencing a pretty awesome rental boom right now.

St Pete is hot. The areas with good schools, Seminole and Palm Harbor are also hopping. Good houses are going fast. The junk sits around. 

Hey @Rodney Dixon 

Somehow, I did not get a chance to Welcome you to Bigger Pockets, so Welcome!

It may be helpful to discuss what you are looking for in a Real Estate Agent. I consider myself a friendly guy and would even buy you a coffee but I would not write hundreds of offers hoping that one sticks, drive for dollars for you or otherwise spin the proverbial wheels.

Writing a little something about you, your qualifications, your criteria and timetable might just help other people when they are making recommendations to you. Rather than having a bunch of people jump in and say; "I know Mr. X, he is the best.", and Mr. X only works in South Tampa when you want to be in Westchase for example. 

Best of luck to you. I know there are a half dozen agents that go to Tampa REIA which is in two weeks, you may want to try networking there.

Warmest regards,

Doug Merriott

@Brian Johnson St. Petersburg is not exactly known for their winning school system. If you want Pinellas County you want to start in Seminole and work you way up to East Clearwater, Palm Harbor, East Lake and Tarpon Springs. Avoid southern Pinellas, west Clearwater and even Dunedin has questionable schools (though some people think they are great). 

Hi @Chris Aall 

By far the most active beaches are Clearwater and St Pete Beach. St Pete being the more "low-rise" of the two, but even that is debatable. Condos are ubiquitous along out beaches and if I had to choose I would say that Treasure Island, Indian Rocks, Redington and Madeira Beach have some of the more boardwalk type feel with some small shops, restaurants and hometown feel.

take care,

Doug

Brandon, you know I don't eat bread. Larry's meeting is the best thing since roast turkey.  

Chris, I respectfully disagree. I hold a monthly meeting at a library so I have zero overhead. I think my meeting is legit, investors come together to solve problems, I would call that an alliance.  

I will be at Larry Harbolt's meeting this evening @Dave Foster and @Daniel K Adderly 

I look forward to meeting you. Daniel, this can give you a good opportunity to meet with other investor agents in the area.@Daniel K Adderly

hey Daniel, 

I am more than happy to help you study. Feel free give me a call. 

I am rather partial to Keller Williams, especially for new agents, especially those that also want to be investors and have additional incime streams.  

Doug

Sam,

There is very little information here so I will also speak in generalities.

The tax records are never the true market value. The tax assessor takes the budget requirements, divided by number of houses adjusted for the area and improvements.

She has a $93k mortgage on a property that is worth less because she either bought at the wrong time or used her home as a cash register. I see a few options: 

1. Refer to a good Realtor that can handle a short sale, there are a number of them in our area. 

2. You could get the property under a master lease and then sell your interest in that lease. Guessing at PI on a $93k mortgage I would say it is around $500/month, TI another $250. This would leave about $200/month rental spread.

$30k would do amazing things for a small house. The rent ready would likely be much less than that. No one will hit a home run from this deal but it could solve her problem, put some cash in your pocket abd get someone else a low cost of entry rental.

I spoke with TJ yesterday, he has a solid plan and realistic expectations. If anyone WHO KNOWS THE TAMPA MARKET can help him out that would be great.