Cheap fixer-uppers in Pinellas County: Gems waiting to be polished

Ok, so we're not always talking about unpolished gems here, but there is still a lot of money to be made in purchasing, fixing up, and reselling homes under $80,000. My investors and I look for these criteria as perfect flip opportunities:

1. LOCATION - however cliche it may sound, it's absolutely the number one factor in any buying decision for a flip house. In a great area, your house sells fast and for top dollar.
2. "The Eye Test" - this is the "gut feeling", "makes logical sense", "good bones" test that is agreed upon by the buyer, Realtor, investor, and sometimes contractor(s). We look for extensive termite damage, rotting wood, foundation cracks, lifted, wood frame houses and rule out MAJOR renovations that make the project not cost-effective.
3. Price - this can usually be sorted out with making low offers on over-priced properties or waiting until properties sit on the market long enough for the seller to realize that it's not moving.

As of this writing, there are currently:

372 single family houses in Pinellas county UNDER $80,000 and 125 of those are UNDER $50,000

133 of the 372 are bank-owned "forclosures"
AND
44 of them are Short Sales "in-foreclosure"

While location is subjective, I count about 151 of these that meet our "target areas" or locations that are on the rise.

42 of the remaining 151 are at least a 3 bedroom, 2 bathroom house, the most desirable types of homes for the largest population currently on the market. While we do target smaller homes as well, they are only in key areas and lower price points.

21 are "not wood frame", not a bad criteria but rather an objection and a stigma for many buyers in Florida.

I remove another 8 because of square footage or false information in the listing leaving us with

13 properties to sift through the pictures, much more manageable.

With these remaining 13 properties. I look at recently sold, pending, and active comparable properties in the IMMEDIATE neighborhood and figure out which are most profitable.

Again, this is just for "under $80,000" properties. There are other price points that require additional criteria and profit margins to be eligible for my criteria!

Lastly, here are the final properties that passed my "eye test".

Just so you know I actually follow these rules, here are the properties I came up with:
12252 ELDON DR, LARGO 33774
2140 23RD ST W, LARGO 33774
9374 88TH TER, SEMINOLE 33777
5531 DARTMOUTH AVE N, ST PETERSBURG 33710
8501 HOLLYHOCK AVE, SEMINOLE 33777
1156 7TH ST NW, LARGO 33770
4732 2ND AVE S, ST PETERSBURG 33711
4529 9TH AVE S, ST PETERSBURG 33711

Have you ever considered a career in real estate?

This is going to be an informational article for anybody who might be interested in learning more about what a real estate agent does or how the profession works.

Legal (State) Qualifications: 1 week in-classroom or online course covering real estate law and regulations. After the course, you are required to pass a state exam and then you're licensed.

Necessary Qualifications: To work underneath a broker (brokerage), join Pinellas Realtor Organization and Multiple Listing Service (pay dues), join National Association of Realtors.


Skills needed: People person, technologically savvy, understanding contracts and addenda, on call (not necessarily working) 24 hours a day, working 7 days per week, constant access to internet/MLS, internet presence, good standing (outstanding) in the community, market knowledge, niche market knowledge (vacation rentals, residential homes by city/neighborhood, Gulf-front condos, Intracoastal waterfront homes, rental property)


These are not all the skills and qualifications needed but they have been the most helpful in my career.

Please feel free to ask me about the industry or about career opportunities within the real estate field (they are always available!).

Thanks for reading and also try the new chat feature in the bottom right hand corner!   

What to to in the Tampa Bay area: Attractions, Family Fun, and Going Out!

Salvador Dali Museum
For about $20 per person, you can spend hours and hours in the interactive Dali museum. Featuring a labyrinth in the outside garden area, hundreds and hundreds of exhibits of Dali's famous art, and a surreal gift shop. It's well worth it!
 
http://thedali.org/








Nearby the Dali Museum is:
Downtown St Petersburg
Friday evening sailboat races at the Pier, incredible food and fine dining, craft beer, art district, rooftop bars and restaurants overlooking the Bay... You name it, Downtown has it! Spend the day here or just an evening!


Sunset at Pier 60, Clearwater Beach
Want to hang on the beach and watch the sunset? How about watch a classic movie? How about both?! Every Friday and Saturday evening, at sunset, a giant inflatable projection screen is setup at Pier 60 in Clearwater Beach for everyone to see and best of all, it's FREE!!! There's always concessions available as well as a festival going on at the Pier too!

The Beach
How about you catch some rays, throw a football around, play beach soccer, collect seashells, jump waves, go for a walk and relax! Free, relaxing, stress-relieving...enough said
(My preference is Madeira Beach)


More to come... make sure to check back regularly!!!

Awesome deal in an even better neighborhood $135,900 3/2 with a POOL underpriced

Hey everyone,

I don't often promote other properties but this is one I've been in twice and it's a great house for a great price. It's currently valued at about $155,000 judging by the rest of the comps in the area but they're only asking $135,000.

Take a look!



Entryway

Kitchen
Large bedroom #2
Bath #1
Pool is in good shape but decking needs to be redone

Message me for more info or to see it!!!------------------------------------------------------------------->

Seminole 3 bedroom, 2 bathroom houses with a POOL under $299,000 (Active listings)

   
(2) $258,000 3 bed 2 bath Pool homes in Oakhurst Groves




$265,000 in Seminole Groves Estates 1600 heated sq ft with 2300 sq ft under the roof
  


Open floor plan, new hardwood, new cabinets, counters, appliances, vanities, tile...

$269,900 2100 sq ft. fully-updated
 
New Metro tile in the living and game rooms
 3/2 1700 ft in Seminole Grove Estates 2 car garage


Aerial Views

Market Update: Best deals on the beach right now! (under $250k)

Every single one of these 7 would be a good buy right now and some of the sellers are very motivated. 

My top 3 are: 

1. 19823 Gulf Blvd #19. These townhomes are way undervalued and on the up and up. The last 3 sold in the complex went above asking price. The complex is maintained exceptionally well and HOA fees stay low because of this. Not only do they make great rentals for families but also great 2nd homes and vacation homes because of Intracoastal waterway access and 1 block from the sandy beach. Incredible rental income potential because of the allowance of weekly rentals. This unit will pull in $20k per year (and I know that for a fact with rental history and financials to prove it) LARGE 2 bedroom and can sleep 6!

2. The 2 single family homes on Pruitt Dr in Madeira Beach. They appeal to different people but one is high ceiling, open feel and slightly out dated. The other is completely updated with a beachy feel to it. Both can move downwards on price because of time on the market. Prices are on the rise in Madeira and I don't expect that to change!

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3. A project for certain but 19451 Gulf Blvd is a unit that needs to be finished. It has a coveted Intracoastal Waterway view from 2 large balconies and finished would be a $250k to $275k unit. Also short term rentals allowed.

Tis the season to be selling! Fa la la la la la la la la...

Welcome Floridians! Good news for you, it's almost snowbird season! Here come our annual economy boosting, price driving, friendly Northerners!

Snowbirds is an endearing term everyone... no one likes the bitter cold days where they have to shovel mounds of wet snow.

This post is about embracing your Northern neighbors and even thanking them for their vacations down here to keep our recovering economy on the rise!

In honor of the season opener :) here are some Norther-inspired works of architecture: