All Forum Posts by: Lisa DuFaux

Jon, I would also encourage you to go just a little farther north. I live and invest in west Pasco County, just north of Pinellas. There are plenty of SFR properties that can be purchased in the $40's and rent for $800 or more. As Doug said, avoid flood insurance areas but that still leaves plenty of options in this area. The only areas I avoid are a subdivision called Holiday Lake Estates near Tarpon Springs and some of the more rural areas of Hudson.

Hi Kevin,

I am a rehab & buy/hold investor working primarily in West Pasco. I just bought my first Spring Hill house for rehab recently. What type of investing are you doing or considering?

Hi Kevin - it definitely sounds like you are on the right track to achieve success! I'm a rehab & buy/hold investor nearby in western Pasco county. Have you decided what you will focus on (wholesaling, rehabbing, buy and hold?)

I try not to move walls if possible so this was one of our bigger rehabs...kitchen before:

Kitchen after:

Hi Sam, I'm also in the Tampa Bay area and have been doing rehab flips for quite a while. A couple thoughts...I agree there are good opportunities in this market. On the specific listing you reference, there is a requirement for Realtors to put the "Active with contract" language in the listing if that is the situation. What it means is the owner of the house has accepted an offer and it is now in the hands of their lender to decide if they will accept the price. This process can take a really long time and if they do accept it then you've waited all that time and still have no deal. In other words, I wouldn't focus on just this one and stop searching for others. Also, I wouldn't trust Zillow's valuations without confirming from more reliable sources. I am a licensed agent so I do my own searches on MLS but if you aren't licensed, I would suggest trying to find an agent who will work with you to provide information. You can also search the county's property appraiser site for recent sales to confirm. Best wishes for your first flip!

Interesting perspectives but I would still have questions about how this works.

Michael Q., if you have successfully done it, could you give us more information? How does the closing work - is it done as a double closing? Was the house vacant? Seems it would be awkward to show if occupied. If it was REO, did the lender accept an assignable contract?

Mike, I am a licensed Realtor in Florida (about an hour north of Tampa) and my answer would be no, you can't list a property if you aren't the owner. This doesn't have to do with the eventual sales contract, but with the listing agreement. The FAR listing agreement includes the following sentence, "Seller certifies and represents that he/she/it is legally entitled to convey the property and all improvements." If the deed isn't in your name, you wouldn't be legally entitled to convey it.

I have found my local real estate investment club to be a good source for finding private lenders. At one event, the speaker found out that an attendee was a lender and had her stand up and give her contact information. I've spoken with her and will be doing a deal soon. I have several sources of money that have come from my REIA contacts.

Thanks everyone, I think you've confirmed my concerns about this. I'll only be doing pools for my rehab/sell deals.

I'd like to know if anyone has thoughts/experience on the potential liability of having tenants in a home with a pool.