All Forum Posts by: Steven Saccio

thanks Sue,

I owned the condo before they moved in though. The management company that runs the place for me is who collected the deposit and is saying their money person did something wrong and is know in court for it. Somehow the money is frozen because of this.

Truthfully I'm worried that management company is just stalling

Thanks John! Good advice 

I own a property in central Florida that is managed by agency for me. The agency was bought out by another group at the same time that I turned over tenants. The out going tenants never received their deposit back and were told by the new management agency that who ever was in charge of the deposit accounts for the old group was doing something shady and has ended up in court. Apparently the litigation is starting to wrap up but the old tenants are very upset that they haven't gotten their money back yet. its been three months since they left and the original return would have gone out two months ago if everything went accordingly plan.

Has anyone experienced something like this? Sorry my facts are a little vague but I'm fairly removed from the operation. Thanks in advance!

hello,

I'm a land lord (by semi-unforeseen circumstance) of a condo in central Florida. I live several hours away and the property is managed by a group that works out of the condo complex. The management team has been pretty good in the past couple years  and the tenants I have in the unit have been great but there have been lots of little issues with the unit over the past year and a half.  It's a well kept complex but about 20 years old and has had some roof, ac and electrical problems since this couple moved in.

It seems that they (the tenants) do not get along well with the Maintence man and the recent issues are starting to become bigger problems. The current issue is a window that keeps leaking whenever it rains. It flooded out the kitchen once already. The tenant said they called it in and heard nothing for three weeks. When I heard of this I immediately called the HOA and they made sure it was fixed right away but now it's happening again, less than two weeks later.

What's the best way to go about handling this? my big concern is that property might be falling apart and the HOA doesn't seem to be concerned. My tenants and I get along great but I'm afraid if this goes legal it will be a them vs me situation since I own it. Getting rid of the property isn't really an option as it's valued about $100k less than what I purchased it for.

Is this worth talking to a real estate lawyer? Do I need to get insurance involved or have the property inspected for water damage asap?

Any advice is much appreciated. Thank you!

true that! I actually made a couple 360 virtual tours to show it off.

http://goo.gl/XhJ3lS

Will revisit Craigslist but didn't have a whole lot of luck my first go round.

Thanks!

Afternoon!

I am a photographer and smallish real estate investor. The building My studio is located in is owned by my family who inherited it and run it as a rental office complex in tallahassee fl.

The majority of the spaces are occupied but most of the tenants have been there for quiet a while. Attracting new renters to fill the remainning spaces has been a challenge so I'm curious what successful ways people have found to bring in new rental clients?

Both me and my family are loving the dealings in realestate but we're both very much accidental landlords.

Thanks for any help!

thanks for the welcome all! Look forward to reading through the pages. Mehran- thanks for the podcast suggestion, ill check it out!

Dean- it will be a bit before I'm ready to get another unit but ill keep you in mind.

Ahhhhhh, that makes so much sense now.

So much for flipping one of mine for a hidden mini fortune. Thanks! this site is already proving to be a great resource.

Hello,

I hope this is in a good section, Its my first true post other than my introduction earlier today.

I have rentals in the central florida area and as such I scour Zillow and Realtor.com on a regular bases just to get an idea on pricing, sales and other rentals.

Mine are in a complex called Columbia Arms. When they converted from Apartments to Condos they sold from between $150,000 to $180,000. When the market crashed they plummeted to as low as $20,000-55,000. A bitter pill to swallow but they are on the rise now and have come up as much as $30k

Recently though there seems to be a rash of sales that are much higher then what current value would point to. I figure a 2/2 should be about $65,000 from the estimates on the site and what at least two people are currently listing their for sale properties at. But the link below shows that 5 condos have sold for $100,000-150,000. two or three of them looked to be bought by the same group, but I can't understand why all of these would sell for so much more then they are worth? I thought it was just an error but theres such a spread from different sites and dates that theres got to be more to it. Can any one shed some light on it? The first link is to zillow which shows the 5 in questions and then the address that follows is for a 1/1 condo that sold for $154,000, which is just mind boggling in this economy.

Thanks for any insight!

http://www.zillow.com/homes/for_sale/Kissimmee-FL/18847_rid/100000-155000_price/385-596_mp/days_sort/28.307511,-81.412105,28.306049,-81.413523_rect/18_zm/0_mmm/1_rs/

1612 columbia arms cir 237, Kissimmee Fl 34741

Oh, newbie to the site I mean. Though I've been playing with RE for a couple years now I would still say I'm still pretty green to figuring out the whole rental game. I'm very much on auto pilot but want to start getting aggressive about generating more revenue.
Both are condos in the Kissimmee Fl area. 2/2 and 3/2.
I'm doing one year leases with both. been very successful with the 2/2 but the 3/2 I've had bail out tenants with 2 months to go in the contract two years in a row. Hopefully that trend stops this year.