All Forum Posts by: Obed Calixte

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? 

I'd be interested to take a look and see how it compares with the activity and discussions around gentrification in the Tampa Bay area.

Definitely start with lender to get an idea of what you can comfortable afford and that will help guide which direction you can go in.

Are you looking at Tampa or Tampa Bay (Tampa plus surrounding areas including St Pete/Clearwater etc) ?

how far off were your rehab estimates compared to the numbers the GCs provided? It sounds like the deal you backed out of was either very tight or there was a large difference in rehab estimate to bid.

Hey Terry - great first step in getting out of the shadows of analysis paralysis.

Since you're willing to get some leads, you can make a name for yourself if you can find great deals and bring them to the investors in your market either as wholesale deals or potential JV partnerships.