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All Forum Posts by: Christopher Makestas

Christopher Makestas has started 5 posts and replied 29 times.

@Michael Baum I would agree that a work around can at times be illegal and if thats the case it confirms my suspicion of how i've seen other ADU's operating on airbnb. Was hoping to find maybe for instance there are ways to operate in a grey area that isn't overtly illegal, for example keeping the ADU on wheels allowing it to be considered an RV. Not sure if this would be allowed either but just as an example.

I called over to the county and wasn't given a clear answer. It seems ADU's in a traditional sense are not allowed (IE. grandma can't live in my backyard, nor can a renter), however you're allowed to build an office out back (so long as you're not operating a business out of it) or a "she shed" to hang out in. Im wondering if at that point, if I listed it on airbnb would there be a direct violation. They didn't have a clear response to this. Also, not sure if platforms like airbnb or vrbo would allow it to be used if it weren't already permitted with the county as an "ADU", in other words "can I put them in my shed, so long as it has a bed?". Still digging.

I dont think regulations have caught up to these trends and definitions are out of date. The last thing I want to do is disregard or violate directly any laws; however, I also don't want to handcuff myself for laws that have yet to be clearly defined either.

@John Underwood fully agreed. I would prefer to setup systems and investments that won't be wiped out in the future nor get me into any trouble. Like you, my long term vision is to acquire vacation sites i'm also interested in for personal use. The desire to put something in my backyard is more of a short term strategy to get me started (a house hack if you will). Once Im more liquid, I will certainly be following your path.

@Ross Gortney good to know. I could see how you might be hesitant to apply for the permit on the off chance you might be denied. For now it seems to be working for you. I agree, putting money into it without a fair degree of certainty that it's allowed would be too risky.

Hi everyone! My fiancee and I are looking to get into AirBnb investments in Greenville, South Carolina. We're originally from Florida but fell in love with Greenville and want to make it our home/begin some investments here. Does anyone here have any experience with short term rentals in Greenville county? Also, does anyone know if it is possible to put up ADU's in Greenville county in residential zones for AirBnb? It looks like Greenville county states ADU's aren't allowed in residential zones; however, we've seen a couple of ADU's on AirBNB and are wondering if there is some kind of work around. Also looking to connect with any short term rental investors! Thanks!

Post: Best brokerage for license

Christopher MakestasPosted
  • Fort Lauderdale, FL
  • Posts 30
  • Votes 18

1) If an investor were to have their license solely for the purpose of saving or earning commission when buying and selling property, what would be the best broker to hang their license at in order to reduce the amount they split with the broker?

 2) If an agent only did a few deals here and there for family and friends what would be the best brokerage? 

As an agent I currently work a few deals a year. I DONT use any of the brokerages tools to get business. I mostly use them as a support for my transactions. Im looking for a broker that would offer light support in that realm (I still need help with compliance, using proper forms, etc), without taking such a large split (my current broker takes 40%). Thank you for any help.

Post: Is this a dumb idea?

Christopher MakestasPosted
  • Fort Lauderdale, FL
  • Posts 30
  • Votes 18
Originally posted by @Joe Villeneuve:

I second what @Greg Scott said.


Let me add a 4th:  Never, under any circumstances, ever, for any reason,...spend your seed money.  That's your $10k.  Use it to infinity, but NEVER spend it.  Once you spend it, it's gone forever...and you need to have a way of replacing it....and the BRRRR method isn't the way.

I found this interesting and I feel the need to fully understand what you mean by this. Thanks!

Post: How to get started in the luxury rental market

Christopher MakestasPosted
  • Fort Lauderdale, FL
  • Posts 30
  • Votes 18

Hey guys,

If you were attempting to do business in the high end rental market what methods would you employ to get started. Ive worked many high end rentals but they all came to me through my sphere of influence. Ive never marketed to them directly and I'm not quite sure how to begin?

I don't mind paying for advertising, just looking for the best platform(s).

Any and all advice/ ideas/ methods are welcome

Thanks!

@Mike Gee I see this is an old post. Was wondering if you ever made progress or found anything else out about this? I too am interested in buying property in natural settings and putting renovated airstreams for rent on airbnb. I think its a great and creative model though I don't fully understand how to go about this task. Im just now beginning the research. Good luck and hope you were able to pull off your dream.

Post: Part Time Real Estate Agent

Christopher MakestasPosted
  • Fort Lauderdale, FL
  • Posts 30
  • Votes 18

@Cody Evans any of the big name brokerages will be flexible with you. Its up to you how much you want to work and how much your willing to put in. In Florida we have a licensing course and a state exam. I imagine its similar in California. Good luck!

Post: Airbnb vacation rental

Christopher MakestasPosted
  • Fort Lauderdale, FL
  • Posts 30
  • Votes 18

Funny I was thinking of doing a crazy travel trip around the world as well and decided id be better off investing and building wealth that will allow me freedom to travel down the road in the future. Very interesting how you got into that first property. Cool that you fixed it up and made do with what was in your range. It was the stepping stone you needed to get rolling. Did you find the tenant before or after the summer you spent fixing it up?

Nice to see the Brrrr method in action. Cant wait to share my first deal with you and everyone else here! I feel its right around the corner. 

Best of luck with everything you do

Post: Starting Cash-Out Refinance BEFORE Completed Rehab?

Christopher MakestasPosted
  • Fort Lauderdale, FL
  • Posts 30
  • Votes 18

I'd have to agree with @Neil Goradia. I would try to get that bath done before the Refi. Surely those thousands are more than the interest your paying on the credit card. Unless your factoring in the opportunity cost of not getting your flipping business going on the side. Potentially it would make sense to just do the refi now if it meant getting the business going and taking a small hit on the bathroom.  I would have a deal lined up or at least something in the works if that were my final decision.

Post: Airbnb vacation rental

Christopher MakestasPosted
  • Fort Lauderdale, FL
  • Posts 30
  • Votes 18

@April Vogt Im a bartender as well. Always nice to see in the biz people doing well with their money. Im in the process of finding my first deal, I must be creative though since my reported income was low for so long. Hard to get a mortgage loan without a solid declared income. Did you run into similar issues getting a loan?

And did you pay market for your duplex purchase or did you find the deal off market and try to get a discount on a motivated seller for instance? Always curious how people acquire their properties

Being that its a duplex im sure you have investing in mind when you purchased it. May I ask what criteria you were looking for in order to decide this was a good deal? Thanks!