All Forum Posts by: Heather De La Cruz

I'm thinking about getting a condo in the Largo area. Somewhere to stay and visit my brother and also rent as a STR in the meantime. How are the restrictions in the area concerning Airbnb or VRBO generally? I know some associations have their own rules but I'm not sure if there are local restrictions based on certain zoning and whatnot.

It would be nice to meet other investors, aspiring investors, and any like-minded locals. I'm also interested in discussions about the rent moratorium and how others have handled it.

I've been in Lakeland about a year and a half and the pandemic thwarted any social networking for me.

If anyone's interested in a meet-up for coffee, food, or beers let me know.

@Jeff T.

I don't trust All County Polk. I left a review on them over a year ago on their Google page. That's not the only property management company that I've ran into that behaves that way.

@Michael Plante

It's profiting 1k, not renting for 1k. The cost was only 139k.

But it does look like it would be better to sell.

@Crystal H. I would like to take advantage of a 1031x. I'm waiting on a CMA right now to confirm I can get a buyer for that price and then check my options. But your right, I definitely need something more passive. I'll look into it. Thanks!

@Joe Villeneuve

Thank you!

I'm not understanding what you're saying in the second equation though. Can you elaborate a little?

I think I have too much going on and I'm considering making a decision that's a little rash.

I have a duplex which is generating a little over $1025.00 after mortgage and escrow. It's an hour and a half away. I work full time at a desk and go to school.. I find it harder and harder managing tenants when they move out, dealing with repairs/ cleaning and traveling back and forth as my time is not that flexible.

Anyway, I bought the property for $139k it looks like i could possibly sell for close to $400k. (That was the recent sales price for identical properties next door.)

My issue is that's my only passive income. I feel dumb because it's $1000+/month for life or potentially over $200k one time with no similar prospects that are nearby.

Others have suggested to use a property manager but I honestly have not come across anyone or any company that I find trustworthy. I've seen countless times where tenants are treated poorly and maintenance is upcharged insane amounts.. I've also seen where companies do not respond to tenant requests creating lager problems due to lack of repairs.

Is it dumb to sell? Should I hold on to it and bite the bullet and find a reputable property management company? Should I sell and take advantage of the profits?

Anyone else find themselves feeling this way or in the same position?

I'm a little stressed and welcome any advice.

@Bernard Sanga I use Cozy.co to collect rent. I like it because late fees are automatically applied and since I've started using it, I haven't received a late payment. The other nice thing about it is the applicants pay to run their background and credit checks and it's basically free for landlords. However, I don't compromise on how rent is collected. If the tenant doesn't have a bank account you can suggest alternative banking, credit unions, or prepaid debit cards if you're doing online payments. When I switched, I gave a 30 day notice advising that it was just how I was collecting rent from now on.

Before, I was just taking checks and using online deposits since my bank at that time was almost two hours away. But now that I switched, I don't need to do anything. It just gets deposited directly to the bank account.

@Tamar Hermes Thank you so much! I'm looking in Sebring, Highlands County

I typically require people to have renter's insurance with pet liability if the animal is an "aggressive" breed. I'm coming across someone who has a rottweiler service animal. In the state of Florida, my understanding is if you have less than 5 properties and it's owned personally, you are not subject to civil rights requirements since it's your personal property. I only have a duplex and my residential house. I actually have no problem with having a rottweiler living on the site. I just have a liability concern and want to require the tenants to have their own policy. I have a policy for my own pitbull and I registered him as a support animal because you never know.

Anyone else in the state of Florida come across this and how have you dealt with it?