It entirely depends on how you structure it. Are you paying cash or need a mortgage on them? There are many solutions such as placing some properties in a trust or corporation which would enable you to receive more mortgages on them. Get into touch with me, I am pretty good at achieving what you are trying to accomplish. P: 888-320-7888 - www.MortgagesforAmerica.org or e-mail me with any questions - Ken@MortgagesforAmerica.org... more
There is only one way that income is calculated in order to qualify for a mortgage and it is based on net income plus depreciation averaged over 2 years.
You should have a mortgage person look at your tax returns to see what you will qualify for.
Fred Glick, NMLS #133975
U S Loans Mortgage LLC #51022
It is difficult to find short term rentals, but not impossible. I can perform a search and see what I can find for you, but anything that is available now will most likely not be available by the time you come down in August, but you will at least have an idea of what you can find for that price range that does accept your pets. If you would like my assistance, please email me with a bit more detail. Where exactly in Tampa are you looking? Are you trying to be close to a specific location? Any information will help, and I will do my best to find you a place.
For most types of mortgages, they use 75% of rental income to add to your income. You should check with a local and trusted loan officer who can prequailify you and let you know what your options are.... more
You first need to know about the APPRAISAL; is it sufficient?
Have you had your Realtor do a CMA?
Is it possible to offer $225,000?
You need the answer to these questions before giving up $8000.... more
First of all assessed values have NOTHING to do with what the house should sell for. It could be a benchmark to go by, but it has nothing to do with it's sale value. Here, in NC, the assessed values change between 4-8 years and remain the same for years. I am not sure what Florida does, but home sale prices can be over, at or under the assessed value which is set to tax similar homes similarly to each other. They do not take into account what is in the house at all so two could be next to each other and assessed the same while one is gutted out and the other upgraded to the max. You need to find a Realtor who can show you what comparable homes have sold for and base you offer on that, not a tax assessment.... more
You are experiencing what other buyers are which is a shortage of homes for sale in some areas. First thing is foreclosures are the best deal as they can close sooner than a short sale. A short sale can take longer and the savings are not great. The more work a home needs the better the deal you may get. The key is finfding a short sale listed by a well experienced agent that has already started the process which cuts down on waiting,... more
Happy Holidays! The HOA appears to be $329 monthly for the bayshore condo, I know the listing agent if this condo or any other condos or properties you might be interested into view let me know. I would be more than happy to assist you if you do not have a current realtor. Good Luck in your search! You can reach me at 813-352-6168 or email@example.com. Wendy Rosenthal Homeward Real Estate... more
The nature of the question is subjective, and is something you would need to determine. I recommend conducting an internet search and also obtain personal experience by driving through the area at the times you would normally drive to your home, plus during the day such as on a day off.
Internet search terms could include the specific neighborhood or zip code to see what information is available from reputable sites that compile the census data. Various real estate sites compile area information from the census and report it by zip code.
Visit the City of Tampa Police Department site for information on crime statistics.
My best advice to you would be to start working with a Realtor and Lender that you feel comfortable. Realtors are a free service to buyers and very helpful. They walk you through the entire process, help you understand how everything works, and really make you feel like you have someone on your side. They can show you all the resources you are looking for. Speaking with a lender would be great too. You will figure out exactly what range you are in and know which houses to eliminate from your search, how much you want to put down on a home and learn more about monthly payments you would be making on a home.
If you are just looking for property taxes, you can look on public records for the county you are looking into. For example, if you are looking at a home in Hillsborough, you can look up the public records for that property and see the taxes for the current year.
Please let me know if you have any more questions or would like any help with your search.
Coldwell Banker Residential
A short sale is going to do as much damage to your credit as a foreclosure, it just feels better knowing that you may have helped the bank make more money. You definitely want to consult an Attorney when doing a short sale so that the lender doesn't come after you for any deficiencies.
If a Realtor helps you with the short sale, in most cases, the bank will pay their fee. However, if the bank does not pay their fee, you might have to. So, make sure that the contract states that you don't have to. You'll also have to check with the Association to make sure they don't come after you for any deficiencies.
Have you thought about renting? Most HOA's don't allow renting but if they are faced with another foreclosure in the complex, they may reconsider. Every time someone defaults on the condo, the remaining tenants have to make up the difference on the shortage of the dues (in most cases). Talk to the owner's and ask them to find you a renter so that their value doesn't go down. You may be able to find someone with bad credit looking for a place that they can lease purchase until their credit gets better.
The market is coming back slowly but it's coming back. Try to hold off as long as possible. If you end up with a short sale, you won't be able to buy again for 3 years from the sale date. The lender may also agree to modify the loan to a point that is affordable for you to rent the unit to avoid foreclosure. You do not have to be late on the mortgage in order to modify the loan, you just have to be insistent (keep at them).... more