All Forum Posts by: Esaul Viramontes

I'm confused by your racist comment? Owning and being proud of your heritage is now considered racist? Perhaps the old proud neighbor won't want a new racist neighbor.

 Great to meet some locals! I'm based out of Sarasota as well, but do a lot of work in St. Pete/Tampa. More commercial and multifamily than anything, but do have a few SFRs off of 31st Ave S & 18th Ave S in south St. Pete.

@Esaul Viramontes have you already hooked up with a new broker?

I would love to see how I can help you @Account Closed I have a few friends doing thigs in Florida as far as rentals go and I may be able to help you get your management game up to 75 rentals. You must have the patience a friend gave me a management company of 35 Chicagoland rentals last year and I myself did not have the patience and gave the business to a friend up here that manages 350 rentals. 

Proper disclosure being:

I am a realtor and I will be trying to assign this contract? 

What if I ask the seller for a 3% commission if I bring a buyer, and then make an offer with assignment? Is it legal to make money on two sides?

Funny, I just moved from FL to SLC! Like the others said, it depends on where you live. I paid $900 a year for my flood insurance on one property, but it was rezoned and the lender didn't require the insurance anymore, so I dropped it. Hurricane insurance is also a sticker shock item. My home owners insurance in FL is $2700 (without flood) in utah it was around $600. This is in Fort Lauderdale - 2 miles from the ocean. You can look at the flood zone maps and ask before you buy a house if it's required. The hazard insurance with the hurricane deductibles you wont get away from though. The further south and the further east you are, the more you pay. 

On the plus side, you don't have to pay state income tax! 

Esaul,

Depending on where you live in FL there are 3 types of insurance that a lender may require. Normal, hurricane and flood. If you are going to be on the coast - and you are - they are going to require all three. Depending on what the property is classified as (for potential damage due to a flood) will determine if you need flood insurance and the degree of risk. The riskiest is considered a "V" classification. There are also X, A, and B. X is the least risky. We came from NM and were paying $600 a year so I feel your pain. Overall we had made up for the expense in other ways.

Also, a lot of the large companies wont insure down here. There are specialized companies that will. We use Tower Hill for a couple of properties. Find a insurance broker and they will find the companies for you

hello every one. I'm new to the site and located in Florida. I really want to start getting into flipping houses.