Florida Shooters Network

The bank bought it for $40K.
I guess that the housing market isn't doing very well in Pasco County.

Damn good thing I don't live in it!

great time to pick up a few rentals for investments

If you can get financing

neonnight34609 wrote:great time to pick up a few rentals for investments

Smart investors are not even considering this currently, the ones that are you will soon also see those homes back in foreclosure

i guess i am not a smart investor but its making me money

Rentprop1 wrote:

neonnight34609 wrote:great time to pick up a few rentals for investments

Smart investors are not even considering this currently, the ones that are you will soon also see those homes back in foreclosure

wait till you get your taxes next year, the percentages for non homesteaded properties just went to the " Oh Chit " bracket

buy sink hole houses for rentals. taxes are half so are the cost of the houses. once a rental always a rental. know what your looking at when you read the reports.

Rentprop1 wrote:wait till you get your taxes next year, the percentages for non homesteaded properties just went to the " Oh Chit " bracket

Re: "once a rental always a rental." Could you elaborate? Does that mean that if a house was a rental and I bought it, or more accurately in a situation I'm looking at (very, very preliminary) half was rented (house was divided though not built as a duplex), there would be issues reclassifying from 08 to 01 single family? I wrote that question to the property appraiser's office but never heard back.

Maybe somebody can answer a real estate question for me while we're on the topic...me and my wife are considering buying a duplex to my mother can live near enough to us that we can help take care of her...if you buy a duplex for the sake of living in it, can you still homestead the whole building?

what i meant by "once a rental always a rental" is that MOST renters dont care. the house will USUALLY get trashed and patched up between renters. i figured a "sinkhole" house was the way to go buy them CHEAP, property taxes are HALF because they are sink holed . its always gonna be worth what i payed for it even if i sold it to a "sink hole" repair company. right now they are making me money and i feel good about it.

Do you notify the renters about the possible/current sinkhole?

If not, does that expose you to risk in the case of someone getting injured due to a sinkhole opening up?

Onree wrote:Do you notify the renters about the possible/current sinkhole?

If not, does that expose you to risk in the case of someone getting injured due to a sinkhole opening up?

I'm sure if you do a contract it's in the paperwork somewhere, if they don't read it, it's on them! And anyways, that's what you have insurance for!

Also, I'm sure someone who is renting is more concerned w/ "What! a 3/2 for $750, deal!" not "Oh, what's the catch?" If they were intelligent they wouldn't be renters. Just my 2 cents.

molivo wrote:Maybe somebody can answer a real estate question for me while we're on the topic...me and my wife are considering buying a duplex to my mother can live near enough to us that we can help take care of her...if you buy a duplex for the sake of living in it, can you still homestead the whole building?

Yes you can. If you ever decide to turn the other unit into a rental(and tell the tax assessor), your homestead exemption would be reduced by 1/2. I think that you might have to submit an affidavit to the issue of the second unit not being a rental.



4886 32ND DR S

mikecu wrote:

molivo wrote:Maybe somebody can answer a real estate question for me while we're on the topic...me and my wife are considering buying a duplex to my mother can live near enough to us that we can help take care of her...if you buy a duplex for the sake of living in it, can you still homestead the whole building?

Yes you can. If you ever decide to turn the other unit into a rental(and tell the tax assessor), your homestead exemption would be reduced by 1/2. I think that you might have to submit an affidavit to the issue of the second unit not being a rental.



4886 32ND DR S

^ Yup.

yes its explained and written in contract and more people dont care because there RENTING not BUYING the house.

Onree wrote:Do you notify the renters about the possible/current sinkhole?

If not, does that expose you to risk in the case of someone getting injured due to a sinkhole opening up?

Very interesting. My luck, I'd return from work to find all my belongings at the bottom of a watery hole.

Onree wrote:Very interesting. My luck, I'd return from work to find all my belongings at the bottom of a watery hole.

Renters insurance is a must if you are a renter. Shit i wish i would come home and find half my shit under water. Cash in on my 50k worth of insurance and buy new stuff

poloboy821 wrote:

Onree wrote:Very interesting. My luck, I'd return from work to find all my belongings at the bottom of a watery hole.

Renters insurance is a must if you are a renter.

several of the larger apartment communities now require it to live there, its not for your stuff, but if you ruin someone elses

I carried a $50k policy through castle key (third party for allstate) i say carried because i am now buying my home so i will be getting homeowners insurance instead