All Forum Posts by: Frank Zhang

Hi Trent - It's best to contact the local government directly for information on short term rental. It can vary by state, county, and town. You can also look into the local zoning maps and regulations. I'm in Florida as well if you have any specific questions. 

#2 I'm an agent who work with investors. It's important to know the criteria that makes a property the right investment for you. It helps us market to the right people and property to get you the best deal. Usually, the lists that goes out to everyone are the ones that the connected investors are not interested in. 

LLC if you plan on using it to hold onto your property as an investment. There's a lot more than goes into filing your taxes as an S-corp that probably doesn't apply to you.
Disclaimer: I am also not an attorney for legal advice

I agree with @Patrick Drury. I would use it for a DSCR loan or hard money to purchase as many rental doors as I can. Then I would look into refi options in a couple of years when the rents or your income stabilizes. And no better place to be than Florida.

Go 30 years if you can. Get the most bang for your buck as they say

My criteria is if the market in Florida or not. Kidding, but my market is the Daytona Beach area so I'm biased. 

I base my market on the population growth, job growth, job industry diversity, current population size, rental occupancy, cost of living, potential appreciation, and price point. Cash flow is king but it is a small benefit to the potential that appreciation offers so it is a balance. Let me know if you want more detail about area. 

I'd personally recommend Jeanne Greek @ Florida Home and Auto Insurance. She helped me quickly find affordable flood and home insurance to close on my investment property in a timely manner. She also does more than flood/home if you need to auto or anything else. 

Edit - I can't share the contact info but PM me if you're interested. 

15% is enough skin in the game to be a serious consideration for seller financing. Another point I would push in addition to the ones listed by @Charles Carillo is that you will be making updates to the properties which will only benefit the seller if you aren't able to execute. It is a win-win for the seller whether he agrees to your terms to purchase or if he gains upgrades to his properties without any cost. 

Although a bit higher price point than areas like Ohio or Maryland, the Daytona Beach, Florida is a great area to invest in. It is one of the most affordable beach cities in the country and the area is growing rapidly with the support of government and large investors. Feel free to reach out to learn more about my investments here