All Forum Posts by: Lakeisha Black

@Michael Jobe I am in the same situation as I am looking for 2/1 and 3/1.  Do you mind sharing your mortgage info?  Really appreciate it.

Thanks everyone for the good points to consider.  I am going to do additional research on the rental market for 2/1 and 2/2 in Tampa and will report back later on tonight with what I find.  I think that it may be easier to achieve the 2% rule with a 2/1 or 2/2 than it is with a 3/2.  Sorry if I am stating something obvious :-)

I am new real estate investor.  I sold my first rental property and looking for a new deal.  I am finding some good deals for 2/1 and 2/2 which is closer to my initial investment price point.  The question I would like to ask the group is:  Is there a good market for 2/1 and 2/2?  I have been looking at 3/1 and 3/2, but I would love to hear the opinion of others.  Do you think 2/1 and 2/2 could be good rental properties or should I plan for a longer holding period?  I will check padmapper.com and past rental listings, just would like to hear another point of view.

Thanks!

Lakeisha

@Brad B. 

That makes sense.  I have evaluated some potential properties using the rental spreadsheet.  I need to look at them again.  Thanks for the response.

@Eric Odum Do you think the 1% rule is a better guide to use for evaluating buy and hold properties?

I am looking for a buy and hold - either 3 bd or 2 bd SFR in Tampa. As I screen these properties by researching the rents on rentometer and padmapper, I find it is getting harder and harder to find a property close to the 2% rule. I am hoping someone can tell me what I am I missing. For example, if I find a 55K house, should I expect to put a significant amount of rehab? Or perhaps I should settle that if I purchase a house a house for 70k with little rehab then not expect 2%. I have been looking in different areas of Tampa and even looking in Brandon. Any advice would be greatly appreciated. I just need to understand if I need to adjust my screening process and expectations.

Thanks for the help.

Lakeisha

Adam Jordan I am looking for properties in the 50k to 65k range with a target of gross rents in the 950 to 1100 per month range. I am interested in primarily 3 bedroom Sfr but would consider 2 bedroom if the rent potential was there. I have been pre-approved and have cash available for earnest money. Please let me know if you think you have something that could be a good fit and I can give you a call. Cheers Lakeisha

Adam Jordan Hi Adam I am just getting started a looking for rental properties in Tampa, Brandon, Riverview, Land O Lakes without too much serious rehab. Please PM if you have any properties you would like to share. I would have to do conventional financing most likely. Cheers Lakeisha

Would love to come. Great suggestion

Kevin Cook I have been thinking about wholesaling in Hillsborough county but realize there are a lot of other options (homepath, HUD) etc. can you explain in more detail why it is tough to wholesale in Hillsborough as opposed to Pasco? Competition perhaps? Thanks. Lakeisha