All Forum Posts by: Adam Schooley

@Dylan E. house hacking is a great way to get started. I house hacked a duplex in Ft Lauderdale several years ago (look at my old posts) and it was a great investment and experience. You can take advantage of lower down payments but you just have to make sure of your numbers. As far as price goes it’s very hard to find duplexes under $500k and most are between $600k-$750k. Good luck with your search. 

@AJ Wong I’d be interested in that off market triplex if the numbers work. I’m an end buyer and don’t take commissions on the buyer side. Let me know. 

@John Catanzaro Cat I’m in Broward county doing mid term rentals. I’m newer to the mid term rental space but have been a landlord for many years here. I started at the end of Sept 2023. I booked Nov-Dec of 2023 and I’m currently booked from Jan through the end of June. 8 months booked with about 12 days of vacancy in that time. I’m currently remodeling a triplex in Ft Lauderdale and will also do mid term rentals with that property also. It’s been a great experience so far. 

@Mason Schreck I live in Broward and have rentals here. Increasing the rent when a tenant goes month to month is a normal thing no matter what time of year it is. This is really up to you and your tenant on what mothly rent you can agree on. You had an annual lease and it sounds like you're thinking of doing STR's now when you say "snowbird months". I don't think that any tenant would agree to pay short term rental rates after paying a long term rate. If you're just trying to make up for the extra cost on taxes I would be honest with them and tell them you need to increase it by X amount per month in order to break even again.

@Olga Salaz I sent you a message. 

@Manny Carzola I’d be interested to hear what you have. I’m currently working on a triplex with seller financing in Ft Lauderdale. 

Please send info.

Info please. 

@Scott Smith the first thing you might want to try to do is go back to the seller and see if you can renegotiate the terms.  Even if you paid the owner interest but spread the term over a longer period you would have a much smaller amount to pay annually. If you offered the seller a 3.5% interest rate over 10 years your annual payment would be around $48k instead of $90k and the owner would make about $75k more from the interest over that 10 year period. It beats doing a cash out refi for 7.5% or higher interest rate through a lender.   

@David Freudenberg I’m flipping properties in Broward county. Send me a DM and I can give you a good idea of what it costs to flip here locally.