All Forum Posts by: Obed Calixte

Throwing good money and time after bad will not lead to a happy ending. It is time to end the current engagement with the GC and find another.

When finding your next GC, please ensure to validate their credentials by garnering references, their licenses (Florida license validator) and that they are bonded & insured. And ask all the questions you may have early on. 

Walk the property (or have a personal you absolutely trust) with the contractor to determine what has been done (and can remain) and what work needs to be done. Adjust and validate the scope of work. Get a timeline of when work will be done. Align payment with key milestones - do not pay all upfront. 

If you have further questions feel free to DM. 

That is a tough situation. 

1 - what does your lease say about damages?

2 - if you do not have a robust lease, it may be worthwhile to sit down with a landlord-tenant attorney to review your current situation as well as review & enhance your lease agreement. 

Also, what has the HOA shared in response to the damages?

I've never heard or seen such a tool but would love to see what others are aware of. 

If not, that may be a value add opportunity to the industry. 

My condolences on the loss of your son. I hope you and your family have been able to start the healing process and grow closer in the past few months.

What did you decide between those three options and how are they going?

Researching the various markets will be key.

The Tampa Bay market has seen its share of appreciation with a robust outlook still ahead. While there are nowhere near the amount of opportunities now as compared to prior Covid, there are deals to still be had.

Your financial goals, rental strategy and level of desire of involvement will help to inform your decision on SFH vs MF or a mix of both.

As a licensed lender, do you have a trusted underwriter that can provide you with additional insight into what they are seeing in regards to deal quality, purchasing criteria etc ?

I tend to agree with your assessment of the categories and viewpoint of category 2.

I myself fall in multiple categories. Category 2 is my best fit and I have found a wide gap in regards to professionalism, skill, ethics and knowledge.

Where there are low barriers to entry, there is more variability.

Your primary focus with a house hack is to find a home to owner-occupy. That is what the bank will care about.

Renting out rooms etc to other for additional income comes second to that fact. Just fulfill your obligations per the loan. Disclosure of want/desire to house hack is not needed and likely will bring more questions than answers.

What is bringing you from Fort Worth to the Tampa area? 

Also- There's not as many great bbq spots or tex-mex in Tampa Bay but there are plenty of good eats :)

Wow - what an absolutely amazing opportunity!

Great that you were able to be flexible in your plans and look at the big picture to be able to capitalize on the opportunity. 

With the high rates and prices it does require thinking a bit more outside of the box.

Are the properties you are looking at able to allow for rent by the room (some areas have regulations on number of unrelated occupants)? Is Medium term rental and option? Are there opportunities to add sheds etc for additional rental income? Are there spaces on the property improperly or underutilized that can be repositioned for better use (garage conversion/ lot subdivide/ add adu etc)?

Do the numbers work better if you use portion of the 25% down to buy down rate instead? 

Also are you burnt out from running numbers or from submitting offers at numbers that work for you but ultimately are getting rejected?

You're definitely in the right place to learn and meet people.

Is there something specific that you are looking to learn (ie- how to house hack/ find the right property) or are you moreso looking to just connect with likeminded individuals?