All Forum Posts by: Halil C.

When you look at the comps, try to compare it against the ones that are from the same neighborhood. Sometimes across the street or river/waterway makes a big difference.

 Does this apply to every state? 

Can we have tall furniture that functions as a closet if the room doesn't have a built in closet? 

Hi everyone, (I was not sure if I should post this in multi-family section or short term rental section, however, to me it sounds like a house hacking)

Got a duplex recently where each unit has 3 bedroom/2 bath. Planning to occupy one of the units and use the other one as STR. However, 3 bedroom is too big for me. The layout is very convenient that I can easily put a wall where there is a door separating 1 bed and 1 bath (master bedroom) from the rest of the unit. This master bedroom has sliding door to outside.

The question is: How do you utilize one unit as 2 units? 

A) Do you apply for efficiency -not sure if there is an application for it-? I don't know if it is called "efficiency" when you have a studio within the unit (without a new construction outside the property) 

B) Or, do you apply to the city for converting the duplex into an official triplex (replacing the door with a dry wall)?

C) Or, do you just keep the door, still keep it as one unit, but basically separate your renters' and your space with a lock?

More context: I need to have a small kitchen in that bedroom so not sure how to get a permit for 2nd kitchen if the option C is the most logical. Also, planning to use the other side of the unit as short term rental.

Any advise which could make this more seamless would be highly appreciated!! 

Despite lower efficiency, it seems I will be going with the central AC. Getting much lower quotes for central compared to split AC. Also, split AC sounds complicated to the folks who have visited the property so far. There is a good space in the attic too.

Thank you all for your valuable insights!

Hi all,

Got a duplex recently in Ft Lauderdale, it is my first primary property. A couple of facts: 
a) Not planning to sell it anytime before 5 or 10 years
b) Planning to refinance it next year or so, after the renovations are over
c) Planning to use the unit with backyard as short term rental

- General contractor gave me a very high number. Thus, I want to work with each specialized company separately. 

I have a few critical questions:
1- Do I need permit for kitchen and bathroom remodeling (which includes changing the layout within its boundaries without expanding it)?
2- Do I need permit for adding another bedroom? Would it affect refinancing or selling it? Some say that I can sell it "as is"
3- Not having permit for these work, would it affect whether I can put it on short term rental?
4- Finally, can I have the permits after the work is complete? I learned that it takes time to get permit so maybe we finish renovations first, rent it out, and then get permit?
5- Do I need to have an umbrella insurance for these individual workers/freelancer or companies, just in case? Or if they have their insurance, that is enough?

I know this is a long post but I really appreciate any guidance and help.

Anyone in Ft Lauderdale/Miami area who knows a good contractor, I am still open to that option. And actively looking for AC companies, kitchen, and bathroom remodeling companies.

Thank you,
Halil

Hi Alyson, can you tell more why you would prefer split??
Thank you!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Primary property. No cash flow yet.

What made you interested in investing in this type of deal?

Moving from NYC, I wanted something walkable to everything. This is a great location with walking distance to many stores.

 Thank you Andrew! I am not planning to sell but I will refi. Would a central AC still help with a higher valuation if I refi?

And can you elaborate on why a central AC doesn't help a duplex as much as a single family house?

Wow! This is a great point! I have not thought about it this way!

I am not planning to sell in the near future but I am planning to refinance next year, so this is very important!

Thank you so much for sharing.