All Forum Posts by: MarZia RiVera

Hello @Wayne Brooks and others,

what do you mean when you state "Could a "safe" certificate slip thru the cracks and not be bid on....sure, but the odds are extremely low....not a wise pool to fishing in"

Am I correct to assume when you refer to the not a wise pool, that those are properties with low to no resale value, those nobody will bid on at the tax deed sale and you end of with the property at a loss?

Can anyone answer? What happens with a property when the county is the certificate holder and no one bids tax deed sale.   I assume the county places it in their residential division and attempts to sell it?

Question for everyone in this feed. What is your main goal when you purchase a certificate? What is your lowest interest rate bid? How many years do you hold it between the min and max time frame?  

Are you buying for the annual interest earnings with safe return, no work, no holding cost, etc?  Do you ultimately bid on the property at tax deed sale?  Do you bid to buy then sell certs? Do you ever contact the owners in default?

MarZia

As a Mother of a first year college student I see huge upswing to investing around the college, I am paying $750 per month for half a cubicle. With only first semester completed he is already telling me he wants to live off campus. One of my buyers purchased a duplex for his 2nd year student making him house manager collecting rents, splitting utilities and clean up. As a Property Manager I don't want to make my position obsolete but assigning the best applicant to handle some Mngt duties for a discount rent might just give you eyes and ears on your property. Don't just give it away make him/her earn it so you know they are performing.  

FYI those interested in purchasing student housing in SW Florida we have a brand new construction state of the art gated development due for completion for Fall 2017.  The complete project is in partnership with FGCU but the housing rental is open to all students from any university.  Contact me if interested.

As I read through it sounds like many Investors are leaving money on the tenants table. What I mean is your not truly running your investments as profitable as it could and should be. You should be signing a new lease each year while inspecting the property. The lease should indicate a notice renewal period for which the tenant must indicate if they will renew or be responsible for the following month.  At that 60 day notice is your opportunity to present the rent increase with new lease. Decision is made new lease signed, you might also include a new application to review the tenants continued  qualification, income changes, new credit issues etc. If they do not sign new lease you have 45+ days to market and release, your inspections will indicate approximate cost to rent ready less tenant responsible cost of departure unit cleaning and carpet cleaning.   

Communicating with your tenant is important and ultimately should always be placed in writing acknowledged by all parties. You may feel you are saving money by managing your portfolio but if you fear losing a tenant over rent increases you are losing far more than it cost to hire management when you calculate the loss of rent AND the cost of your time to handle the task.  I have just recently turned over long term rentals with out missing a months rent AND increasing the rate above the market setting the new standard rate.  Be the leader rather than follow behind set the market value.  With all that said let's build a portfolio in SW Florida in Cape Coral where i just rented TWO pool homes less than 1300 sq feet includes pool and lawn services for $1595 month after services and management the owners take is 1300.50. 

Welcome to the Cape!

Hello Shawn,

I am located in Cape Coral working with Investors for flips and buy hold property management.  Lets discuss to see how I may assist you.  Are you interested in building spec homes, higher end on waterfront?

Thank you

MarZia RiVera, Broker
239-540-4884

Welcome Peggy, If I may assist or refer contractors, title company, attorney, etc in SW Florida let me know.  As well if I can assist to rent and manage your holds in Cape Coral, Fort Myers and South of there, we are here to get you the best rents.  Good luck replacing the W2 for 2016 and forever!

Do you already have the lot in mind? contact me direct 239-540-4884

Hello William

DR Horton will build on your lot BUT they only build their models so if you like one of them they are a good builder. The have many styles of SFR as well Duplex and Multi.

Hello Orlando

Do you have a Plan?  Both a home plan and a business plan to show the lender?  They will need to see the lots your interested in, the engineered for plan with cost from permiting to completion, a draw schedule, the time frame to permit then fir reach draw, the GC you are using with their credentials, the finish appraised value and lastly your credit information and approval letter from lender showing you have the means to qualify to finance the home in completion.