All Forum Posts by: Kristina Kuba

@Kaylan Haight

Lower price points that make good LTR’s or PatSplits can be found in east and north Tampa proper (city of Tampa limits) in zip codes such as 33604, 33605 and 33610. When going outside of city limits, look just north in 33612… lots of cash transactions there, meaning flippers are buying and selling. DM me and I can put you in touch with a reputable wholesaler who gets deals in these areas.

@Oleg Reut

Always leverage. Buy some STRs and LTRs and keep a healthy balance.

I think the biggest hack since you're 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.

@Shayla McMurray

I can connect you with someone. I'll DM you.

@Rhea Campbell

I would not do a general estimate like that. I have personally flipped 25+ homes and if it's 1960’s and before you should run a sewer scope if you want the most accurate rehab costs because the galvanized plumbing may or may not be operational. Also, is the electrical cloth wiring? After the major hurricane last year, homeowners insurance underwriting guidelines have tightened tremendously.

For lot splitting purposes, are you assigning this to an end buyer with contingencies that they can get approval from the county? Since Carrollwood is outside City of Tampa limits, the county process is a little more cumbersome than the city process for lot splitting. Reach out if you need help finding a cash buyer.

@Brian Stike

I personally grew up in Treasure Island and code enforcement is small but mighty. In most of the beach cities you mentioned, you run an enormous risk running in an illegal STR. Indian Rocks Beach is the only unincorporated beach city in Pinellas County that allows STRs. I recently sold a 2.5 million dollar house on the water that grosses 400k. No need to worry about getting caught with fines, look to IRB.

@Omid Khezri

One of the greatest hacks in my opinion is the 10% only down loan for out of state “vacation” homes. You can get into a $500k house in Tampa for approx $50k. We are seeing multiple offers come back in many neighborhoods in Tampa. Most of my personal rental properties have doubled in value over the last 4-5 years and are still appreciating in Tampa. Tampa is landlocked by water on 3 sides and I don’t foresee any slowdown with the new stabilized appreciation. I would look at as, why miss out on 2 years of rapid equity growth by buying in CT?

PS. Since you will be moving to Tampa in 2 years, you will likely need to visit here a few times before the big move and your trips can be considered tax write offs if you spend some time here checking on your rental.

@Alon A.

I would recommend the hub and spoke model. The hub is a LLC you own in a state like Wyoming or Delaware that has anonymity and the spokes are the ability for that LLC to own properties in different states. You can go a step further and put the property into a land trust.

For Example, you own ABC Investments LLC in Delaware. ABC Investments now owns 123 Main Street LLC in Florida and that LLC owns the property in a land trust. Land trusts don't violate the due on sale clause so how you finance the property will have no impact.

All your mail and any correspondence passes through your attorney. This strategy I have found to be the most effective for myself and the investors I help. This provides you 1) anonymity 2) a certain level of liability protection.

It is an expensive and complex asset protection and it could be overkill if you are just starting out, but something you want to look at later down the road. I am not an attorney and I recommend you always consult a Florida attorney before doing anything.

@Danielle Lynch

If you are looking to scale up you likely need a multi unit that will quickly appreciate so you can borrow against or 1031 it into a bigger unit size. I would highly recommend you look at Tampa. Time magazine recently ranked Tampa as one of the best cities in the world. We are also seeing multiple offers come back in certain neighborhoods, especially in the urban core.

Time names Tampa on ‘World’s Greatest Places’ list

Reach out if you have any questions. Best of luck!

@Bryce Kennebeck

In Tampa, I would check out Pineywoods Realty and Out Fast Realty & Investments. Both are popular and investment focused

@Niti Bhat

Tampa has a strong STR market and LTR rents are still rising in most neighborhoods. Like another poster stated, TIME magazine just rated Tampa on the list of World's Greatest Places 2023. I am also seeing multiple offers come back in the Tampa urban core and there are no STR restrictions in Tampa city limits.