All Forum Posts by: Chris C.

Hey all,

Working on a deal for a duplex that is currently being rented out. The duplex rents at higher-level vacation prices to athletes training in the area - they come for anywhere from 1 week to 6 months at a time.

I'm offering asking price to the seller, but the seller has added an adendum that offers all previous renters with contact information, as well as all future bookings (From April through June), in addition to furniture - Tiki bar, outdoor grill, kitchen tables, bedding, the works. The catch is he wants 10g extra for this "turnkey" package - sort of like he's selling his former business to me, on top of the price of the actual duplex. For what it's worth, the duplex is in great condition and I'm in the process of scheduling a walkthrough.

Any thoughts on a situation like this? Is this information, as well as having a fully stocked and ready-to-rent property worth the extras? The furniture itself I can't imagine costing more than 5g, but an existing list of trusted, vetted renters could be invaluable.

Something you may want to consider is getting the financing first, as an individual, and then deed the property to a newly formed LLC. You can get a more favorable loan if you as the individual is responsible for the loan. After the financing goes through you can then insert the LLC to protect yourself.

Legal or Financial experts may be able to give you a better picture. As others have mentioned, sometimes an LLC can get pricey per property, and a good insurance policy and property management can be just as good.

Thanks for the insight Michael - Probably something I should be estimating for. 

Hey all - Relatively new to the scene and have been watching the Orlando market for about a year. 

Something I've heard about recently is that copper piping is highly susceptible to corrosion in FL, something to do with the soil/water content? I'm still reading more, but thought I'd ask the experts as well. Has anyone experienced this in their properties?

I'm looking at relatively old properties that may still be using copper instead of say, Pex, which seems to be the preferred plumbing. Do you think I really need to worry about copper or re-piping the whole property? I've read that this can be expensive, and since this would be a first property for me, I want to minimize risks and maybe shoot for a newer single-family instead of an older duplex/triplex.