All Forum Posts by: Shane Odom

Hello Yiftach. I'm a local Realtor and investor in the Tampa areas. Tell me what it is you're looking for when moving down here.

Tampa and the surrounding areas can be great depending on exactly what you are looking for. If you have any questions, don't hesitate to reach out. Good luck!!

Welcome Jennifer from your neighbor in St. Pete!! Always good to hear of successful teams in the local area.

Congratulations on your first deal!!! And no need to worry about "getting into the game," you're already there! Depending on the profit you made, you are aware of the many options you have. After my first deal I took some of the money and invested it back into my business by marketing and looking for my next deal. You personal goes can also dictate what you do with the money. Good luck with whatever you choose!! I'm down here in St. Pete as well, so don't hesitate to reach with whatever you need. Maybe we can even grab a bite to eat sometime and bounce some ideas around.

This local (Tampa, Clearwater, St. Pete, and surrounding) area is a great place to both live and invest in.  Each area has it's own little flavor and appeal, so you can always find pretty much anything you are looking for property wise.  Are there any particular guidelines you are looking for (ie; waterfront, closer to a downtown aread, 3/2, 3/1)?  If you know that, it will help to narrow down which areas to focus.  If you have any questions, or need some extra info, don't hesitate to ask.  

P.S. Bern's or Charley's Steak House are great places!! And of course, you can find some amazing seafood places throughout the area.

Hi Jessie Griffin . I'm a local Realtor in the St. Pete area who's also an investor. I'd love to help you in anyway I can. Feel free to reach out to me and we can chat about what you're looking for.

Congratulations on your foray into the multi-family world. The fact that you already own a commercial property can help you when it comes to getting your numbers solid for what you are looking for.  I come from the same wholesaling background and have spent the last few months learning the area and running numbers to get a feel for what I am looking for in the multi-family arena.  I, myself, am not seasoned in the commercial field as a RE Agent, but I have several that I have worked with that I could recommend if you like.  As far as financing, seller financing can be found, and Marty is right with these "mom and pop" owned,  you can find great deals.  As long as you can find the reason an owner is wanting to sell, you can find something creative to work for both parties. Good luck and continue to reach out with any questions you may have

Welcome to BP!! You seem to be on the right track with the work you are currently doing.  I am an Investor and Realtor in St. Petersburg and would love to chat or answer any questions you may have.

I think you are handling it well, and yes, "backup ideas" can be exit strategies or even various financing. With seller financing, you can often come closer to an agreement on the amount they are looking for by dictating the terms of financing. A Realtor will explain the need of prepping the house and all that comes with putting a house on the MLS. This is where you can help them by pointing out that you will be purchasing "as is" and taking care of all of those expenses they would be incurring.

Good luck with this deal!! I had a couple of questions.  Will the payments be interest only, perhaps with a balloon payment?  I worked a similar deal with $5K down, 6.25% interest on a 30 yr amortization.  Interest only the first 18 months, will balance due at 60 months.  It was a deal where I didn't have a lot of money at the beginning and the sellers just wanted to be rid of the property.  The interest only payments allowed me to cash flow more at the beginning and put that money into doing some of the rehab work. Afterwards, I was able to refinance out quickly with very little of my own money, and help them out while giving them some cash flow for awhile and taking it off of their hands quickly.  I think you are on the right track with your initial offer, just make sure you have some "backup" ideas to help out the seller.