All Forum Posts by: Toula McGinley

Hello,

I am reaching out to private money lenders for a loan.  We have just secured a duplex in tampa bay on auction for cash only.  We are need of a loan to close the deal.  Anyone who can help please respond asap.  Thank you.

Welcome to BP Michael,

I am also a new investor and live in the area. I have bought a property through HUBZU (auction). There are a lot of foreclosure websites that you can google (i.e. foreclosure fortunes.com) most of their inventory is already sold. I joined a local REIA and I receive a lot of wholesale emails but I haven't found the right deal so far. Just a lot of people trying to take advantage and charge me for their knowledge.

Most people have advised me to do marketing with letters, online, etc. I am just getting going on that so I cannot offer advice on whether it works or not. If it is a good deal and its on the MLS it does not last long and you have to have cash to compete.

There is a REIA meeting in Clearwater that meets on Thursday mornings and one that meets on Monday at 7pm at Hibachi restaurant on 49th street in Pinellas Park (7 pm). I attend the one in PP.

Best of luck to you. Pm me of you are interested in connecting. 

Stephen and Toula M.

Additionally, we would like bank resources for commercial loans.

Hi Everyone,

I am wondering what banks in the Tampa Bay area you are using in order to buy property. I realize that there are a lot of creative ways to get financed but would also like some leads on conventional loans from local banks who can deal with investors needs. We are primarily interested in SFH and multi family homes. Thank you.

Does anyone have experience with evictions as a Landlord in Pinellas County, Florida?

We are in the process for the first time with non-paying tenants. We have posted the 3 and 7 day notice for failure to pay.  Now we are filing the complaint.  Pinellas county has a cover sheet that includes categories for remedy sought, to check off like "monetary" or non monetary declaratory or injunctive relief, or punitive.  Which one to check in order to evict without getting back pay? Also, since the tenant was there prior to purchasing the property and was not paying for several months, we gave them a new lease agreement.  They did not sign it but said they would attempt to pay the rent. In this case do we check off "oral agreement" in the complaint to be filed with the court.  Any advice in this matter is appreciated as we are going through this today and time is of the essence.  Thank you.

Thank you JD, Joel and Steven for your replies. There is a common pattern in your responses and I think I am hearing you loud and clear. Start the eviction process. 

Hello,

We just purchased a duplex from an auction. Everything has gone smoothly so far. The closing was fast and seamless. We bought the duplex knowing they were tenants that have not been paying. One unit is occupied by a couple. When the property went in foreclosure they moved their adult daughter, her two children and her boyfriend in the other unit. They have not paid rent and also the water bill in months. 

We met the tenants and introduced ourselves as the new owners. We offered them a lease (they kept the place in good shape and it only needs minor repairs). We offered them a month to month lease (50 dollars a month more than they were paying with the previous owner and catching up on the water bill) plus a security deposit contingent upon meeting our criteria: clean background check and showing proof of income).The daughter said she could not afford it because she just got a job. The father said he would think about it and give us an answer the next day. Today is the next day and he did not call.

We told them that if they decided that they could not stay they will have 10 days to vacate the premises. (neither one of them had leases at this point). 

We are thinking if we don't hear from them by tomorrow to start the eviction process as they may just be dragging their feet to buy more time. I have contacted a company called Evictions Plus and they said they could start the process.

If anyone has any input on this or has gone through this before please advice. 

Thank you

Mark,

Thank you for this helpful advice.  We will pursue these suggestions.  We do not have a project as yet but want to line things up so we are ready.  We are expecting something soon and would gladly keep you in mind.  What do you do?

Hi,

We are looking for decent a licensed handyman or contractor in the tampa bay area.

We are in Pinellas county and will consider all.

-   Stephen and Toula 

    Seminole, Florida

My Husband and I are new to real estate investing. We live in The Tampa Bay area (FL). We are trying to learn as much as possible. We started taking seminars with the Rich Dad company and we are currently attending one. I am 49 and he is 51 and we work full time jobs in "the helping industry" . I work with children who have special needs and he is a counselor. We are in good financial standing (not much debt) , we have good credit, we just lack the knowledge on how to start making deals. My husband feels  we don't have a lot of time and money to afford making a lot of mistakes. In the seminar, they are promoting "hiring" a mentor for several thousands of dollars so they can walk us through our first deals..

I found the BP website recently and attended Brandon's webinar. Can you please advice us whether it is a wise decision to pay for a mentor? Did any of you pay for mentors? or do you just network until you find someone who will do it for free? Are there any seasoned investors in the Tampa Bay area who would be willing to mentor us?