All Forum Posts by: Jeremy Kloter

You first need to know the zoning. Our MIL home was a house with detached addition, it used to be zone multifamily now it is single family. Without doing anything you should be able to do a bed/bath in the back but not a full kitchen but if you go through zoning variance etc (verify with city) you might be able to do a full unit. At least in Tampa they are technical that a full kitchen means a stove, etc.

Due to the process being a real pain, we are just going to renovate for a full bed/bath without kitchen and maybe do the paperwork process later.

PM me, we got an increase from 2,200 to 4,800 and shopped with our guy and it is only increasing $100 with a new 4pt inspection.

The real estate license is such a valuable tool and yet 80-90% of Realtors don't invest and don't understand wholesaling, flipping, etc... lots of value to be added to investors!

 Yes, we have a few different accounts 1. operating expenses for the business 2. one account where all rents and cash reserves for maintenance are held 3. security deposits 4. company taxes 5. company savings 6. company salaries, etc..

We do use Chase Bank for our property management company, we do NOT collect interest on the funds.

We have run into this, avoid the property since you won't know for sure if it is legal without going through the process which will take a lot of effort and you'd want a sizeable price reduction to go through the effort. It is a pain in the but to do, we ran into this issue on our other primary house that had a MIL suite it used to be zoned multi now SF so we had to go through a long process.

We like Frank Artz CPA in Tampa, we use him for most of our stuff.

Business or real estate attorney? I have both you can PM me.

Lithia is typically a bit more spread out but its an area to consider. What is driving you there versus finding something more centrally located in Tampa?

If you're gaining experience, friends and family are a good place to start if you can joint venture with them. They might bring capital or experience to the table. If they have capital, then you finding the deal and helping manage it can be your value add to the partnership. That is how I did my first deal was finding it and managing it, my partner brough 100% of the cash to the table and we split net profits after expenses.