All Forum Posts by: Account Closed

Hi Sonja, my agent from Tampa says that South Tampa and Clearwater areas are good for those kind of rentals. But in Clearwater You may need to pay little extra insurance.

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Hi Everyone,

Again needed some help please!

Wells Fargo is offering 4.75 interest rate for an investment property for 30 years fixed amount. Do You think it is present market rate?

Is there some ways to negotiate the interest rates with bank?

I read in some real estate books about discount points. But this bank doesn't hold such rules.

Do You think private lenders can offer better rates?

Thank You,

Maral

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hi Everyone,

Just interested, why many investors prefer to register their investment property on their LLC rather than to their own name? Is there a risk with registering a property for one's name?

Thanks

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Originally posted by @Brad Bartlett:

Welcome to BP. I’m a new BP user myself.

Checking with the Florida Real Estate Commission is a good place to start, but the lack of complaints doesn’t help much. FREC is responsible for real estate licensing law. It’s possible to comply with the law, but still not provide good service for management clients. The biggest complaints I hear from people towards management companies is difficulty in reaching the manager and a lack of good reporting. Has it been easy to reach the manager? Make sure the management agent has experience with the property type you own and ask for a sample reporting package. Ask for their reporting schedule and make sure the schedule is frequent enough for you and the reports are detailed enough for you. The reporting schedule and details of the reporting package should be part of your management agreement.

The best way to know if a management company is "authentic" is to ask other people that use the company. If that isn't feasible, I would look for a property manager that has the Certified Property Manager (CPM) designation from the Institute of Real Estate Management (IREM). CPMs are required to demonstrate management expertise and abide by a strict code of ethics. CPMs have a fiduciary responsibility and are required to put the client first. Also, real estate management firms can earn the Accredited Management Organization (AMO) accreditation. The AMO means the company has a certain level of standards and must also abide by a strict code of ethics.

Thank You Brad Bartlett, yes we checked all the things which were told above. Many thanks to Peter Mckernan also! Interesting does Your friend also in Real estate?

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Originally posted by @Phil Earley:

Maybe start with the Florida Real Estate Commission to see if there are any complaints on file.

Double check their score on the BBB. Consumer complaints here are from legitimate people unlike many of the other anonymously posted sites out there.

Narpm.org is the National Association of Residential Property Managers. See if you find them there.

Hope that helps.

Thanks Phil Earley!

All the links were very helpful. Especially i checked in BBB and in NARPM

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Originally posted by @Jeffrey Kops:

Hi Maral,

Welcome to BP! Your questions are good ones. I'm am agent/property manager here in the Tampa area, and you do have to be careful. The funny thing is I just read a great article this morning from BP about how to select a property manager. Here is the link:

https://www.biggerpockets.com/renewsblog/2016/01/25/property-management-worth-it/

I hope this helps.

If you would like to talk, please feel free to contact me. I would look forward to the opportunity to speak with you.

@Jeffrey Kops, thank You for the link for the blog, i read it.

And yes, i am checking Your website, let me see what we can do.

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Thanks Adrian, I am talking about Bahia property management in Tampa, if somebody worked with them? Google reviews are amazing.

Meetups are good idea but in near future we don't have plans to visit there.

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Hi Everyone,

Such a nice website! Thank You for people who are behind this!

We want to invest in Tampa and Clearwater areas.

But we stay in CA. But we found a property managers online who are ready even to purchase a home for us.

So my question is how to check if property management company is authentic? Is there some ways to check the company title online?

Also they are referring us to local lenders. Again, how to check if those are legal?

Your opinions and answers would be a great help for us!

Thank You!

Maral

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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 8 times.

Post: Vacation Rental Property in Florida

Post: Negotiation of rates at Wells Fargo?

Post: Conventional loan vs business loan

Post: Investing in Tampa but can we trust Property Managers?

Post: Investing in Tampa but can we trust Property Managers?

Post: Investing in Tampa but can we trust Property Managers?

Post: Investing in Tampa but can we trust Property Managers?

Post: Investing in Tampa but can we trust Property Managers?