All Forum Posts by: Kristina Kuba

@Abraham Cisneros

If your intent is to wholesale, Have the seller talking 80 percent of the time and you 20 percent of the time. Instead of asking questions where the homeowner can answer them in one word like how old is the roof… ask “What remodeling have you done in the kitchens and bathrooms in the last 5 years?”

Sellers sometimes can get inundated with the same questions, how old is the HVAC, how old is the roof? Etc.

Ask questions like … What is the speed limit outside the house? (why because we want to gauge if this is family friendly neighborhood)

Is there an aggressive dog on either side of the home? (why because if you plan to flip the house and I can’t tell you how many times I know in the agent community that a deal was killed because of unruly neighbors or their possessions rather than the house itself)

Always be kind, Ask open ended questions for while building value in yourself, and uncovering objections

Hi @Leon Keeling

It would depend on what you define as a good deal. Unlike Austin/ California where prices are softening. Tampa is steady. In July 2023, Tampa home prices were up 1.2% compared to last year, selling for a median price of $430K. On average, homes in Tampa sell after 18 days on the market compared to 11 days last year. So a tad bit longer on the market and prices are still up for metric purposes.

TD bank is still provided RELOC's.  Just checked with the South Tampa branch a few weeks ago for another client.

Producing content and provided content on Instagram/ Facebook is the #1 way to attract organic leads. Most of my retail clients have come to me organically and I know of wholesalers that do the same.

I know of some DSCR products that don't have citizenship requirements.

I just did this for an investor in NY for a 2.5 million dollar STR on Indian Rocks Beach and it grosses 400k per year. In his situation, he only needed about 250K plus closing costs as his entry point and he will net more than his very first year.

Take a peak into Tampa Bay

I think the biggest hack since you're not a FL resident is to use a 2nd home loan with only 10% down to buy something. I just did this for an investor in NY for a 2.5 million dollar STR on Indian Rocks Beach and it grosses 400k per year. In his situation, he only needed about 250K plus closing costs as his entry point and he will net more than his very first year.

So your 80k will get you a 700k home which will easily gross over six figures.

@Sam Chicquen

Look into property taxes for Texas, most counties have an average 2.8% tax rate. So a 1 million dollar house is almost 30k in taxes in Texas. Even in the nicest neighborhoods in Tampa, a 1 mil property tops out at about 12k.

If you need assistance with mutlifamily, I have a rolodex of trades and project managers that can manage it efficiently for you remotely.

@Brenton Rodgers

PM me and I will give you my hard money guy in Tampa.  Fast pre-approval and quick closings for flips.

@Rob White

You are running into a non conforming structure. Many of my investors have purchased non conforming properties in Tampa. Run the risk/reward on it. The nice thing about it is most overlay districts in Tampa allow you to build an ADU accessory dwelling unit in the back. That's the hack. Call the city zoning dept and ask if the parcel is in an ADU eligible zone. Now you can make that garage unit legal.

Now, let's address the duplex in the front. If the property burns down or a hurricane crushes it, you lose your duplex and you rebuild as a SFR with an ADU because the new zoning status is SFH. You go from 3 units to 2 units. Again, make sure you are comfortable with the risk/ reward on it and the numbers would work.

One solution is to put it under contract with an addendum that the seller must receive a “formal decision” thru city of Tampa with corrected “property use” with property appraiser prior to closing. If the current seller can show that the property was leased consistently and has the lease documents, the city might not ask much in order to sign off on this property to be grandfathered in as a duplex and update the “use” status. It is a case by case. This process can take between 60-90 days.

Lastly, if you are using a real estate agent that invests themselves, they should be educating you on this whole process as this is a common yet solvable situation.

@Michael C Fowler

We recently switched to a new property mgmt team for our personal multifamily property in Tampa proper. The best things I like about the new company are:

1. -Someone who can respond to my questions via text 7 days a week
2. -A clean, easy to use portal where I can view statements and work logs
3. -A 12 month guarantee, if the tenant is evicted, the property mgmt company puts replaces the tenant without charging us 1st months rent
4. -Allows us to put a MAX threshold hold of $250 for non-emergency repairs. Anything over $250 requires our explicit written approval with at least 2 estimates presented to us from their vendors

PM and I can send to you