All Forum Posts by: Kristina Kuba

@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

@Maite Narciso

Jacksonville is a cash flow market where many properties can hit the 1% rule but appreciation lacks. I work and invest in Tampa and we do not have the best appreciation relatively speaking but our appreciation is one of the highest. Most of my properties that I personally own have doubled in value since 2018.

As far as HELOC's, I would avoid the major banks, yes they are more convenient but you pay for the convenience with higher rates. Look for local credit unions that invest in the communities that you want to buy in. They almost always have more favorable rates, terms and MOST importantly draw and payback periods.

Regarding acquiring probate properties, you are essentially signing yourself up for (2) jobs - finding the property and then fixing and flipping it. Probate properties are an excellent deal but the marketing energy needed to find and close them is tremendous. You would have to check the probate court's website. Search "probate court" with the name of the county. And then you have to market to these homeowners using cold calling or direct mail…following up for months on end. I would recommend interviewing a good wholesaler or real estate agent to handle the acquisition of the property.

Best of Luck!

@Connor Benn

I highly recommend looking in West Tampa 33607 and Ybor 33605 zip code. You will find lots of older duplexes and sometimes triplexes at a reasonable price compared to multi-family closer to downtown/ south Tampa. As the area develops, West Tampa/ Ybor rents are rapidly increasing.

Plus you will see substantial appreciation after the riverwalk expansion is complete. The 5-mile expansion will allow the Riverwalk to connect more neighborhoods, including West Tampa, Tampa Heights, Bayshore Boulevard, Hyde Park, Riverside Heights, North Franklin Street, and Bowman Heights.

@Anthony Montano Start with one of the bigger brands: Remax, Compass, Keller Williams, Century 21 etc.

They will typically have a higher split but they will provide much more training and help get your career off to a good start.

@Matt Smith reach out to @Gabe Apple and his team

Like any profession, there’s bad apples and good apples… I work with a few professional wholesalers and yes you might see a large assignment fee but what you don’t see is the heavy marketing costs that go behind it. The best wholesalers I work with don't rely on bandit signs or cold calling people, they run SEO and direct mail to websites and online forms.

There are listings in my career I have encountered that I simply cannot take on because of the heavy damage to the house, hoarding situation, or the seller simply tells me that they need the funds within 30 days because of something unexpected in their life. That is where I connect them to a reputable wholesaler.

My 2 cents.

@Gowtham Natarajan

Time in the market beats timing the market.

Although we might see small corrections… In major metropolitan areas in Florida such as Tampa and Miami, appreciation stays steady. The combination of no state income tax, low property tax and favorable regulations keep Florida cities growing with a high net inbound migration.

@Ethan Colbert

One of the best networking groups to join is https://www.tbreia.com. They have subgroups in different parts of Tampa Bay and one big monthly meeting near downtown Tampa.

What are your investing goals? I’d be happy to help point you in the right direction.

I have re-priced two of my properties and one for my investor with the agency below and found them to very competitive in the STR and condo market.

Gunnar Schafers

Risk Advisor

Professional Insurance Service

13907 Carrollwood Village Run

Tampa, FL 33618