All Forum Posts by: Bao Chau Tran

Hi I am trying to help my cousin find a loan for his unique situation.

He currently live and own a home in Washington. He will be selling his home here in Washington and looking to buy in Tampa Florida. His proceed from the sale of his home will be about $90k.

He works in the nail industry for about 4 years but currently he is at a new nail salon for about 6 months or so. His primary job are paid in commission and a few of the lenders we spoke to haven’t been able to do his commission because it hasn’t been 2 years yet.

Is there any way for him to get loan approval using his commission income? Is there any lender that will be more flexible? Thanks!

@Andre Irigoyen

Yes I saw a lot of houses for sale in this zip code for cheap and was wondering about this. Do you know what is going on at this area?

@Benjamin Luu

How did the discount rent for exchange for looking after the house work out?

@Tim Swierczek

Hi I am thinking of doing this strategy with the new house I am buying In Tampa. It will be our vacation home and so we want to reserve the right to come in and goes. So thinking renting out room would be a good strategy. We can stay in the office.

How do you do this correctly? Where do you get your lease? Do you need a lawyer for lease write up?

@Andrew Hoefling

Hi this is an old post but did you have any resolutions to this? Did you consult a lawyer?

I might be looking at similar situations with roommate for our vacation home. It is our second home.

@Adrian Chu

Can you expand on what your experiences with this? Was it hard to obtain a permit? I am curious as I am buying my first investment home in Tampa Fl. I wonder if I can apply to add an unit like this? Thanks!

@Jeffrey Kops

Yea I don’t know. It was actually an idea from the listing agent. The listing agent and my buyer agent is helping me to get a rental waiver first from the board members. Finger crossed, hoping to get it approved by the board member! We did our homework with cc&r and I read their rules and regulations online but it didn’t say this. We almost missed this since it was so new but I got a voicemail from the property manager of the complex.

@Braden C.

Hi we are trying to approach the board members for a rental waiver. Hopefully we get it so we don’t have to do any work around.

We are set to close at the end of this month.

Hello,

We are starting out in buying our rental property In Tampa Florida with the goal of living in it in 2 years. So we want to rent it out until then.

This is a great property in a great community but we ran into a little issue. The HOA had this year added a new rental restrictions that stated that owner must have the house for one year before they can rent it out. We don't want to keep the house empty and not rent out for one year. It would hurt us financially.

My agent have suggested I get a real estate lawyer to draft out a house carer agreement instead of lease agreement. I think just avoid using rent, lease in the agreement. They would take care of the house for a reduce rent. Anyone experienced with this issue before?

Thanks!

Bao

@Joshua Adlam

Hey I saw that you are a property manager in Tampa Fl?

I am acquiring a property in Tampa and I am searching for a good property manager too. What company are you with? Thanks!