All Forum Posts by: Nate Sahm

@Ingrid Hussey

I allow the tenants to have a TV on the wall. Even if you don't allow it you'll go over one day and a TV will be up there anyway lol.

During the initial walk through of the house I tell them if they want a TV on the wall, let me know the size of the TV and where they want it. I tell them I will have my handyman stop by to hang the TV. If the tenant doesn't already have a wall mount I tell them that I will purchase it for them as a move in gift. 

I do not allow them to hang it themselves so there are no issues with a tenant who doesn't know what they're doing trying to get the wall mount up. Typically, when I offer to have my handyman come by to do it, they get excited about that. They also are really appreciative if they don't already have a wall mount so me buying it goes a long way in starting the landlord/tenant relationship off on the right foot. 

Hey @Sheena Bal I would suggest reaching out to:

Liz Welch (Synergistic Property Management) - 813.489.9789 

Fred Vielhauer (PMI Property Management/PMI Palms) - 727.204.2363

They both have managed rentals for me and I have been very happy with their services.

Good luck! 

The bigger underwriters like Fidelity, Chicago, First American & Stewart are typically used and would provide the same protection from title company to title company the majority of the time. A good title company follows their underwriter's guidelines. There are several other, smaller underwriters used. That doesn't make them not preferable, just they can have differing opinions on what constitutes clear title. I have seen title companies delete requirements from their underwriter or add exceptions for items that should be covered or in lieu of truly clearing title (not requiring an heir to sign a deed, for example) that would leave a buyer in a tough situation even if they have the same underwriter as another title company. It's always important to review the title commitment and get a second opinion to verify nothing is being missed. 

@Matt Sora, the settlement fee for a cash transaction should be $300 or less in the Tampa/St Pete area. That settlement fee can go up if a traditional or hard money lender is used, but it is based on the amount of paperwork the particular lender requires. @Darin Mellinger is correct with regard to the title insurance being set by the Department of Insurance. That figure will be the same no matter which title company you use. 

In the Tampa/St Pete area, it is typical on a normal residential sale for the seller to pay the docs stamps (calculated at $0.70 per $100).

The title company you use absolutely matters. I have been working with investment grade residential properties in the Tampa market for 6 years and have seen some massive misses from title companies. It is imperative to have a title company that can handle the transaction you are looking to complete. The tricky part is you won't find a title company that says they aren't good, ha! Having title insurance does provide some protection, but, you still have to deal with the issue if a title company missed something. Just because you have car insurance doesn't mean you go out looking for a car accident. 

If you are buying from a wholesaler be weary as many times they try to saddle the buyer with the doc stamps and all related closing costs. This can cut into your profits. 

If you are looking for a more specific answer or need suggestions on good title companies, I'd be more than happy to point you in the right direction!

Good luck! 
 

Welcome to BP @Parker Hewes! I work with investors in the greater Tampa area. Please feel free to reach out if you have any questions! Good luck! 

@Paoola Sefair I would check out the following:

Mark Dowsett - Real Property Management Leaders

Gerald ( Jerry ) Pappa - Golf View Realty Property Management, Inc.

Doyle and McGrath Real Estate & Property Management

Please PM me for direct contact info. 

Thanks! 

Hello @Zac Conn. I would suggest reaching out to:

Krista Allred - FBC Mortgage LLC or Audi Spiridakos - http://21dayhomeloans.com/

They should be able to answer any questions you have. 

Please also shop around for exactly what you are trying to do. If you are looking for a distressed property it likely will not qualify for an FHA loan. You can, however, use an FHA 203k loan which is FHA's version of a renovation loan. FHA 203k is still 3.5% down but it allows you to add the cost of repairs (can be anything from roof replacement to new paint) on top of the price of the home. In other words, you can finance the cost of repairs. It is a great loan product for owner occupants to purchase a home and customize it to their liking as well as increase the property's value without having to come out of pocket for the expense after closing.

Good luck with the move! You will love Tampa! 

Hi Sarah - here are some good meetups to look at:

http://tampareia.com/

http://www.sreia.com/

http://www.tbreia.com/default.aspx

I work with local investors in the area. Please feel free to PM me if you have any questions or would like any additional information on anything. 

Thanks!