All Forum Posts by: Sharisma Sawyer

Hi Colin, Welcome To BP. Meetup.com has several investor's meetings in the area. If you ever need advice regarding the market or have any questions that are Real Estate related, feel free to reach out. Wishing you the best in your Real Estate endeavors. 

https://www.meetup.com/find/?allMeetups=false&keywords=real+estate+investment&radius=25&userFreeform=Saint+Petersburg%2C+Florida%2C+USA&mcId=c33701&change=yes&sort=default

Hi Nuneh,

First question you want to ask yourself is: will the sale of a town home be able to cover the cost of a duplex in CA? You also want to take a look at inventory and see what options are out there. If there is limited inventory most likely prices will be much higher. Maybe you should look in areas where multifamily properties are more reasonable and inventory is not limited. Since the cost of living is much higher compared to Florida, you might be able to obtain greater purchasing power. 

Hi @Dan Handford, if you can PM me the contact information of VA as well, it'll be greatly appreciated. Thank you!

Welcome to BP @Eliza Sprague your goals seem very attainable and I wish you the best of luck. If you ever need any help with anything real estate related, have questions or need recommendations for agents in the area, I'll be happy to help!

Hi Tom,

I agree with Christopher, Those aren't good comps. You would want your comps to be closer to size as the subject property, particularly the heated sq ft. Even with the adjustment being made for the differences in sq. ft, sometimes for the comps that are much bigger, adjustments would have to be made elsewhere. For instance. comp 7 and 8 is drastically off and comp 7 is an entire house bigger than comp 8. I also personally believe that when all those comps are being used, numbers start getting skewed. 

I also agree with Christopher regarding your options for buyers on the FHA loan, however, I've had a buyer utilizing a conventional loan with 40% down and we had a similar appraisal issue where those same options applied to him. They didn't have to pay the difference out of pocket due to the large downpayment, however, they refused to purchase an overpriced property. I make sure that all of my buyers sign an appraisal contingency, so we were able to negotiate the price a bit. With that being said, whether the buyer is using an FHA or not, the same issue may come up with a buyer on a conventional loan.

One note, a buyer on an FHA loan will most likely not be able to pay the difference out of pocket, so you're down to two options, find another buyer who will or lower the price.

Crescent Heights, Seminole and Gulfport are great areas to invest in. However, from professional experience, Safety Harbor and most neighborhoods in Clearwater are huge buyer's markets. With renovated and accurately price properties lasting no more than a week on the market.

@Michael Guzik I am an agent in Tampa with a phone number that has an OKC area code and I've had multiple experiences where prospects and leads rejected my calls unless I called them from a Tampa area code. I recently signed up for godaddy.com which allowed me to obtain a secondary number with the Tampa area code. 

Hi Linda, 

I am also an agent in Tampa. In order to use the MLS you would have to join the local Realtor's Associaton. Now to my understanding, there may be brokers that don't require you to join, however, you won't gain access to the MLS unless you do, not unless you're authorized to access it through someone else.

I agree with John, it is much easier to purchase an SFH without the help of an agent but commercial real estate is much more complicated. I recommend having an expert on your side, especially if it is your first commercial transaction. I also recommend having an agent that represents you because the listing agent represents the seller and will most likely work in their favor. I've seen buyers purchase overpriced properties at asking price because they went through the listing agent. If you need help finding a trustworthy agent in your area I'll be happy to help.

Hi Jerry, welcome to Bigger Pockets. My first suggestion would be to find an investor-friendly agent that would be able to offer guidance in regards to the best areas to invest in. They will be able to run comps for you to help you decide whether a property is a good investment or not. Many seasoned investors work without the help of an agent, but as a new investor, it is best to have one underneath your belt. If you need help locating one, I would love to assist with that.