All Forum Posts by: Linda Wright

Hello, I am realtor/PM in the wesley chapel area and have 2 rentals in that neighborhood. First, I don't see your rental listed in the realtor MLS, so that may be a question to ask. Also, it may priced a little high for the square footage. The ones next to it rented for $2000 and were 1673 sf. I know yours is a little bigger, but maybe ask $2100 to $2150 50 if that number works for you. Good Luck with your property:)

yes, just let me know if you do anything.

Wesley Chapel is one of the fastest growing cities in Florida and Pasco County is one of the fastest growing counties I believe in the country.  I live in Wesley Chapel and it's booming and there is a ton to do here. I think schools are definitely important as that offers more opportunity. People want to live where the best schools are. I actually have a client purchasing in Epperson right now for investment and I will manage his property when built (I am also a property manager and appraiser). I shot videos for him so that he could understand the different communities because he was out of state. They are widening roads all over the place here because of the growth and there is talk of doing some sort of business development (like a little downtown).  I think this area has more potential.

I've not built a home but I am a realtor and appraiser. I've only had a few clients buy in the past but that was a while ago. I do know they have 2 series, the Express series and the regular series, but you probably know that. The express is very nice but does not have the typical upgrades of most new homes.  I live in Wesley Chapel and can tell you Epperson is a very nice community and has that beautiful lagoon. That area is growing tremendously and they are even adding an exit off the interstate About a mile down the road. I have a out of state client building in Epperson community. Not sure if you are already working with a realtor, but if you need any help or eyes or more info let me know. The price doesn't change with a realtor. Hope that helps.

I am an appraiser, but most times (not all) you will most likely get a reduction for the busy street. How much depends on the neighborhood and what the difference in price sales between busy streets and non busy streets. When I put my realtor or property manager hat on, I advise my clients against it for the most part. If the market falls for some reason and it becomes a buyers market, the house on the busy street will be less desirable than other homes not on a busy street. 

In saying the above that is general for most neighborhoods in the Tampa area, except a few. Some exceptions might be South Tampa and Highland Street in Seminole Heights, probably a few streets in St. Pete. I'm sure there are other streets and maybe others could help with that. Hope that is helpful.

Completely depends on where in Hillsborough County. South Tampa is going to bring you a higher rental income than say somewhere in Apollo Beach. You do have to look at rental restrictions for short term rentals to make sure you are complying with the county.  Right now rental demand is through the roof here in the area so I don't think it matters about seasonally at this point. Maybe if things get back to the way it used to be maybe Oct-May, but I can't speak to that for sure as I do long term rentals and have never had any issue getting tenants. 

@Curtis Fuentes

as a PM myself I always provide receipts to the owners. Some thing is super fishy if they’re not giving you receipts on the repairs. And saying that, I will tell you that $900 is the going rate for someone licensed to have a hot water heater replaced in my area. But if they are not producing receipts for the ACs something is really wrong. Not to mention you should get some sort of warranty and you need to have that information of who replaced it. I would find a new property manager and find out what kind of reports and receipts they provide. I use Buildium in which the owner can go into the portal at any time and look at the receipt for the repair so other property manager should have something similar.

Thank you both for your reply. Part of it is education and part of it is learn about how to find them and bring a deal to someone who might like to invest if the numbers work for them. I work with an investor in Dubai who at one time was interested in some smaller unit apartments so perhaps getting him involved again. Part of what RE Mentor promotes now too, is that they offer is investors who will partner with you if the deal is right. I'm a little concerned because it is just the 3 day course and I've heard they really try to upsell you on more and more expensive courses. I don't want to just go to learn that I have to do more expensive courses to really get anything out of it. 

Has anyone done this training? I would love to hear your thoughts on this. I am thinking of doing it to learn more about multi family investing. Thank you in advance.

@Joe Martella I completely agree. He did them a world of favors, even lent them money, and got them a higher rent.