All Forum Posts by: Chris Mathe

Hi All, Does anyone have experience with Florida business tax receipts?  For long term rentals, is a tax receipt required for each property?  Or is a tax receipt only required for the principle place of business - example: Home office?  

It seems like the guidance on this is difficult to find.  Each county and city has different rules, but nothing specifying what is considered the "place of business".  Is this your home office only, or does it include all of your rentals?

Hi All, Quick back story: I was trying to cash out refinance my primary residence when unfortunately the appraisal unexpectedly came in too low for it to make sense. With that being said, my loan officer recommended getting a HELOC to help fund an investment property? What are the pros/cons of doing this? A quick side note: I have some cash, but the HELOC would help me get over any additional hump.

An initial con I can think of is that I won't have a heaping pile of cash in my savings account waiting to be used, but will need to draw from the credit line.

A pro would be that after 6 months from a BRRRR purchase, I should be able to pay back the line of credit and not be taking any interest hit, wait for the next deal, and do it again.

Also, assuming a HELOC makes sense, would a interest only or principle and interest make more sense from a BRRRR financing standpoint?

Any advice is welcome on this as I have just stated to research this option.  Thanks!

  

Hello, I am a new investor in Florida, Volusia County. I have cash ready to go for an investment home. I am looking to use the BRRRR strategy. Does anyone in the area have good contacts or recommendations for short term lenders for rehab on BRRRR properties? Also, does anyone have a good wholesaler or seller that would be good for BRRRR? Thanks in advance!