All Forum Posts by: John Kent

@Roman Strawa reach out to Keith Courtney he knows the vacation market in the attractions area very well. 

@Robert Gunn take a look at the following link. 

New Orlando short-term rental rules start July 1

That article talks about the city of Orlando. Greater Orange county also has regulations on short term rentals. We have specific zoning for short term rentals in certain areas. I know the county proposed changing the short term rental regulations a little over a year ago. I do not know if they have actually come to terms on any new regulations. The best thing to do is to contact the county for a full accounting on how to comply with the regulations. 

That being said the best places to own short term rentals in Orange are near the attractions which have many subdivisions zoned for short term rental. We also have what we call a hotel tax that would apply. It is somewhere in the 12.5% range. 

Best of luck to you.

@Griselle Monzon, the only other local meetup that I am aware of is one that has been organized by Bigger Pockets members. Perhaps this is the meetup to which Shawn G. is referring.

@Branden Sewell I am a local agent and I can help you get signed up for the NACA program if you wish. I may even have a more streamlined program to assist you with the down payment. Just keep in mind that the Orlando market is extremely tight for small multifamily properties so you need to have a realistic perspective. Feel free to PM me.

You will want to have an attorney draw up both a note and  a mortgage and close the transaction for you. 

@Shenell Johnson back when I was an LO and excited about the prospect of meeting other agents, attending events by new home builders, CE classes, and free training events were a great way to meet agents. I also went to open house events. I did try a convention but found it less networking friendly than more intimate gatherings where people are less guarded. 

It would be the same process as any other FSBO sale you just need to close the transaction prior to the auction. The seller would need to make enough from the sale to satisfy the debt of course. If the purchase price is less than the debt then you have a short sale situation which would involve asking the lender to postpone the sale so you can go through the short sale process.

Contacting the seller in and suggest/recommend that they renegotiate the terms of the listing agreement would be an example of tortuous interference with a contract.  Further down the rabbit hole you go. 

Steve didn't mention it but I guess you are assuming that he has chosen to be paid by the lender instead of being paid by the borrower. A mortgage broker is the agent of the buyer in the real estate transaction and is paid a fee for service on a contingent basis in the real estate transaction as a result of the real estate transaction. This should qualify as an interested third party just like the real estate brokers. In the alternative, a loan originator who works for a lender is paid outside of the transaction direct from the lender. The lender and it's employees are a disinterested third party just like an appraiser or home inspector.