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Updated over 5 years ago on . Most recent reply

User Stats

81
Posts
41
Votes
Andrew DeWeerd
  • Rental Property Investor
  • Sarasota, Fl
41
Votes |
81
Posts

Multiple properties on single deed

Andrew DeWeerd
  • Rental Property Investor
  • Sarasota, Fl
Posted

Hey everyone!

I just purchased 2.5 lots that were put together by seller (through quitclaim) prior to closing to be sold to me on a single warranty deed. Between it all, the half lot has an actual street address (just land, no dwellings), and the other 2 lots combined have another street address, along with 2 houses (3/2, and 2/2 guest home separately metered electrically but single water line). It's zoned SFR so it's tricky, but hear me out, I'm looking for any help if you have knowledge in the area.

I bought the property with the intention to execute a combined house hack / live-in-flip for a year (currently living in the 2/2 unit, rehabbing the 3/2 now), and then turn both into a full rental after a year, with strong equity creation through the purchase & rehab process to sell if need be.  This leads to me my future plans though, to rent both houses out - my realtor, a seasoned commercial property mgr, told me that bc the houses were basically on multiple parcels of land (even though same address), that it wouldn't be a problem with the SFR zoning (even though one house basically intersects both full parcels).  So here I am, starting to research how to do this properly/legally (put the cart in front of the horse perhaps.. rookie move), and realtor doesn't think I need to do anything but he's not getting a huge vote of confidence from me.  So I'd love if you would discuss these options with me if you're patient enough!

1) Do I need even to do anything, since there is multiple land parcels for the SFR zoning, even if they're both on a single property "address"?  

2) Can it be as simple as getting another address added at the post office for the other home, since there's multiple parcels of land?  Utilities has the houses metered separately already, under 1234 and 1234 #guest.

3) If not, can I somehow utilize the vacant property that already has the property address to qualify as the renting out of multiple SFR homes, even when they're both on the single deed?

4) Anything else I'm not thinking about that ya'll might have experience with?  

Anything helps!  

Thanks,
Andrew

#: Sarasota, Bradenton, Manatee, Florida, house hack, live in flip, @biggerpockets, @Mindy Jensen, @Brandon Turner, @Scott Trench @J Scott

Most Popular Reply

User Stats

587
Posts
269
Votes
Amy Aziz
  • Specialist
  • Los Angeles, CA
269
Votes |
587
Posts
Amy Aziz
  • Specialist
  • Los Angeles, CA
Replied

@Andrew DeWeerd Hi Andrew! I always recommend reaching out to the county the land is in. They are normally pretty nice and helpful once you get them on the line. :)

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