All Forum Posts by: Josue Rosario

@Nicholas Alves

Welcome to Tampa!!!

This is a great place to live and invest. I am a licensed Realtor and active investor, if there is anything I could help with do not hesitate to give me a buzz.  Best of luck!

Pro Tip:

When considering contractors look into their history, time in the business, and additional credentials. You can do that by searching them on the Department of Business and Professional Regulation aka (DBPR). You can use this link: https://www.myfloridalicense.c...

I feel a good wholesaler is one that understands the needs of the seller and the needs of the investor and uses that information to package a win-win deal.  What you are seeing currently on this market as of 12/2020 is that everyone is hot and heavy about maximizing profits because the market is "hot" and is "ok" to overpay for deals.  Savvy investors who are on the grind and KNOW what it takes to turn a property around will see a wholesalers' evaluations and know whether or not the person behind the evaluation knows their stuff.  

I have done wholesale deals in the past and continue to be open to the idea. However, if you are a wholesaler and I see a trend of inaccuracy in the deals I am receiving from you, you best believe I am unsubscribing and sending you to the spam box. I just don't have time to waste.

Pro Tip:

If you're a wholesaler, spend time in the field. Don't be a "behind the screen real estate investor". Markets change, and for that reason, you need to spend time with landlords, Flippers, Realtors, Lenders, Insurance Agents, Contractors and gather information to help you craft the best deal possible. Know the cost of material, know the current hard money rates and fees in your area, know the labor cost, know rental rates, supply and demand, zoning restrictions, etc.  

For example: In my extremely competitive market (Tampa, FL) there are sections in which if a window is replaced, the new windows must be "impact" or hurricane resistant windows in order to be code compliant due to the property's proximity to the coast. Impact windows are substantially more expensive than non-impact windows. Knowing little bits of information like this will help you achieve a more accurate repair estimate.

I hope this helps.  

Hey @Tyler Hyma!

I would love to meet and talk about real estate and see how I can bring value and help you guys achieve your real estate goals.

Hey @Matt Birkbeck!

I am a RE Agent and active investor here in the Tampa Bay area. I am here to help! I would love to be part of your wealth-building journey and connect once you get down here. I don't know how familiar you are with Tthe Tampa/St. Petersburg area, I am guessing you have spent some time here and have an idea as to where you want to be located.  If not I can help you decipher the areas. There is more to it, but that can be discussed at a later time. Quite excited for you guys!!!  

@Sama Pa I am sorry you haven't had good luck with property managers and contractors. Unfortunately, there is only one way to truly know if someone will be a good long term fit, and that is to work with them at least once. Referrals from reputable sources are always good but at the end of the day, you have to see how they work with you. I would recommend connecting with people here on the BP platform who conduct business in the Tampa area. I somehow believe that the BP community is unique and you would at least have this in common. I wish you best of luck in your real estate endeavors.

@Kelly Beasley Everyone has provided good insightful input that should definitely be considered. Usually, not every time but usually the person who puts in the $$$ will be the person taking the biggest risk. If things go sideways people will be knocking on your door, not his.

I agree with @Brian G.'s way of looking at things. You don't want to put in 75% - 100% of the capital and still do 75% of the work.  I believe the monetary risk you are taking needs to really be considered and implemented into the equation of who does what and who gets what. Have you discussed your concern with "him"? Is there an expectation of how much he will be receiving from the profits? I am all about fairness, but being fair does not always mean splitting things 50/50. If that is what your deal calls for then perfect.

I agree with Jonathan Greene.

Hey Vasilii, 

Welcome to the BP community!!!  Your question would be best answered if you could provide a bit more information as to what value you are bringing to the table, is it Capital, Time/Hustle, or Knowledge?

If you're starting from scratch I would recommend building your knowledge and network first, if you work on this the money will come. There are many ways of going about it but you can start by attending your local real estate investment association "REIA" meetups or any Real Estate related meetup, you can find meetups on sites such as meetup.com or here on BP, you can also go to open houses and talk to agents, pick up a book from the BP store, listen to Podcasts, YouTube stuff, and just put yourself out there. Have an overall plan and be intentional about it. At the end of the day is all about value. What value are you bringing to the table?

In regards to a course, there is so much free content out there on the subjects that all you really need is time to consume it and you will be ok. You don't want to spend money if you are not making money. In regards to mentors, all I can say is that the right mentor will not take you under their wing without something of value in return ie. Money (are you paying them to teach you?), Time/Hustle (are you working for them for free or little monetary compensation), or knowledge (do you know something they don't, perhaps a skill they can use to improve their business). Whatever you do, do not bluntly ask anyone to mentor you if you do not have any of the above. You might feel as if you are at a disadvantage at first but keep in mind it is only temporary and this is just part of the plan to get to the next step. Either way, you are on the right track. I hope this helps!  

Are you looking to be in compliance or to potentially increased the value/marketability of the property?

In order to be considered a bedroom, the room needs to have a window, and a closet, and a door of course...: ) If its a bonus room then the square footage should already be considered into the value of the home. The square footage value will be different if the space is considered to be "Heated" which in Florida means the room is under some sort of permanent AC system such as centralized AC, a wall AC unit or a window AC unit. In order for public records to show/recognize it as a bedroom, and for you to be able to advertise the extra bedroom in the MLS you will need to pull permits recording the structure/layout change. It is not a big deal if the property will be used as your primary residence or if you are renting it.