Buying SFH With Potential Double Garage Conversion?

Question

Hello!

Looking for my second deal but the times they are a tough! Found a SFH with a very large double garage that I would like to owner occupy, and plan to value add by finishing the garage and turning it into Airbnb/Separate rental.

This is in Pinellas County of St. Pete. Questions are:

How easy/hard is it to rezone a property to allow this? Currently it is just Single Family use.

Anyone have any idea on what the current Pinellas county laws are on Airbnb? I live in Tampa and I thought it was illegal but a simple search shows plenty of properties offering that service.

Just wondering if it is a good idea to look into a property like this if cash flow positive all depends on getting property rezone. Obviously I would like property to cash flow without the garage conversion but this is 2019 in St Pete and that isn’t the easiest thing to find.

Tim Kaminski · Answer

@Shannon Cohan This property is nowhere near the beach. Off of 4th street but will just have to call about Airbnb laws.

Really just wanted to know if anyone had been through the rezoning process and could speak to how difficult it was.

Shannon Cohan · Answer

@Tim Kaminski Be careful as some areas in St Pete are starting to have stricter guide lines with short term rentals, especially if your near the beach. I would make sure you have an agent who knows the area or in the least knows how to get this information for you.

Good luck on your project!

Tim Kaminski · Answer

@Adam Benmbark

So calling them up, before I bother making an offer and asking them if rezoning to allow multiple units is even possible/how probable?

Adam Benmbark · Answer

Hey Tim, each municipality has it's own regulations regarding lease periods.  I've been shopping with several clients that are seeking to do the exact same thing you are and it involves getting on the phone with each municipality or searching for the information on their website.

Keep at it and you will find what you are looking for.  Let me know if I can help you in any way!