All Forum Posts by: Obed Calixte

For the first purchase- the home can not be your primary if you intend to use a DSCR loan. DSCR/hard money are non owner occupy loans.

If you decide to do FHA203K for the first home - a 203K consultant/inspector will be required for the standard 203k loan, you will unlikely be able to serve as GC and you sign a 1 year occupany affidavit.

The homes that you used to determine your ARV are a good reference point.

Pinterest is also a wonderful resource. There are plenty of mood boards and renovation material ideas on there. 

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).

The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

A reputable title company will keep things on track. Just ensure to complete necessary due diligence - this can include, but is not limited to, title search, property inspection, appraisal and/or survey. 

There's quite a bit of threads on the same topic weekly - you'll find plenty of markets shared.

What will help you figure what market to invest in will be answering a few questions for yourself: 

are you willing to travel to that market, what is your buy box, are you seeking appreciation or cash flow more, do you have or reasonably can garner an edge in that market (ie - can you build a great team).

Have you searched your county site to identify those that have bought land in your area the past few years and then contacted them?

Find and attend your local REI groups.

To connect with investors you will have to move beyond just digital - you will have to connect as much as possible on the phone and face-to-face.

The neighborhood specialist sounds to be the better fit. At the end of the day, the list price is your decision. If you believe that 550 is a tad too high, you can have the agent list it lower. 

It will help. Now, don't let having a property manager keep you from learning the ins and out of managing a property. You also will still need to manage your property manager  - ie, stay on top of expenses, ensuring your property is being managed effectively etc. 

Those are much easier to do than having to deal with a difficult tenant daily however.

Some people have the personality, processes and systems & time to self manage, some do not. It is good to know which camp you are in. 

It sounds like a prudent choice to bring in a property manager. Assuming they are professional and skilled in the craft - alot of the issues you have faced, they will remediate and mitigate moving forward. That will help you garner a better picture on if holding this property longer is a fit for you. 

There are a few options

(1)You can get connected with the larger wholesaler firms in the area (2) go through PCPAO site and skiptrace the buyers of similar properties as yours, (3) hunt down the agents involved in the sale of properties similar to yours or go to local REI meetings and pitch it to the investors there.

Solely on price, there are areas that can be fits

Tampa: south of Gandy - South Tampa, Suphur Springs, near University, 

St Pete: Childs Park & surrounding areas, Gulfport, South St Pete, Euclid Heights and areas west of 275

Largo 

You only provided price, which is a small part of buy box. I recommend spending time (if you havent already) considering the type of property, rehab required, exit strategy and level of involvement in management  - amongst other factors.