All Forum Posts by: Jesse O.

@Jeff Kehl 

Ah, OK that's a great breakdown, thanks for taking the time. My Cabin friend lives nearby and self manages, so I didn't consider that. I have another friend with a beach home here near Tampa that he vacation rents out in Bradenton, and he's got it in a program @ 15%, I never imagined the costs could get as high as 35%, but if that happens I can definitely see profits dwindling to nothing quickly.

I also recall reading at one point that if you or your family use it more than 2 weeks a year that it changes what you can claim as far as taxes. Anyone know if that is the case, or am I mixing something up? My dream is shattering before my eyes.

I guess more Pasco county for me then. :)

@Jeff Kehl - Really, avoid mountain vacation rentals? I think they can be more work, but I've heard of some GREAT results from them. I have a friend that owns a cabin that would pull maybe 1100 a month as a 'normal' renal, they vacation rental it cheap for $85 a night, and get pretty darn close to 100% a month, so $2,400 for 30 days, plus cleaning fees. Even at 50% occupancy they are still slightly ahead. What am I missing?

I am very curious on what you have seen, as I hoped to explore this avenue in the future - In areas where it is legal. Around florida you turn into a hotel quickly and many counties have ordinances against "short leases", mine included. I try and follow the rules....

I would say it's banking on too many good ifs. What about the bad ones?if the market "corrects", rent goes down, they trash it, don't pay etc. I think is keep looking until you find something you can get a positive cash flow on when you start at least. Otherwise you are just hoping it will cash flow in a year, and have to try and recoup what you put into it. Unless you have reason to believe a boom is coming to that area, I would offer a number that let's you make at least $100 per unit. If they don't take it i say walk.

Hi all - Not sure this is the right forum to post this in or not, but I thought I'd start here.

So for history, I have purchased 3 properties at the county foreclosure auction, so I'm not super experienced, but not brand new either. I do all my own due diligence on liens, etc so if there is a case that is too complex looking to me, I walk away from it.

At any rate, I purchased my last one on 7/7/14, and have yet get title to it. I received the certificate of sale from the county, but for the title, the county has this note on the case:

Case Progress Notes NEED CERT OF TITLE WITH LEGAL THAT MATCHES PARAGRAPH 17 IN FINAL JUDGMENT

I spoke to the clerks office, and was informed the plaintiffs attorney needs to filed the corrected title. I just realized it had not been filed this week (bad on me, that note was filed 7/23!), but in the meanwhile had started working on the place after the initial 2 week period, thinking the county was just slow.

I have a voicemail and email into the plantiffs attorney. Anyone deal with anything like this before? Do they have an obligation to file the corrected title, or do I need to push BoA (gasp) to have the attorney do it? Or am I going to be stuck hiring an attorney myself?

I just found this all out, so am a bit rattled, maybe it will be easilyresolved, but feeling a bit stressed by it at the moment.

Thanks for any suggestions, insight, or other experiences you may have. Oh, I'm in Pasco county, FL.

Thanks