All Forum Posts by: Jon Lopez

@Dan MacDonald hi Dan. I'm also on the hunt for an STR in Florida. I called into the city of Daytona Beach and spoke with someone. They emailed me a map and chart with zoning codes. Message me your email address and I can forward the email to you.

Per chart, “Short-term rentals (rentals less than 6 months) are listed as Other Accommodations in the permitted uses. If Other Accommodations is not listed under the Permitted Uses section highlighted in green, short-term rentals are not permitted at that location.”

Hope this helps with your hunt.

@Zach Fridrich you’re mine is on the right path. Stick with it

Thanks Kevin. I may have been over thinking it and your explanation helped simplify things for me. Sounds like their individual name/SSN will go on the purchase contract along with our LLC.

Hi Spencer, is this the correct address for tonight?  6515 S Jones Blvd. Las Vegas, NV 89118

You are correct with traditional big banks such as Wells Fargo, Chase, etc.  Try contacting credit unions and smaller banks.  The smaller banks and credit unions can be much more creative than larger banks that have more red tape. 

I'd recommend finding partners, form an LLC, and hunt down your first deal. You all can pool capital together. If you underwrite conservatively, lenders will be much more open to your needs. This is what I did with my first multi family property. Also makes it much more efficient to scale with a team to land more deals. I'm not an expert and still learning the craft. But this is what my team and I have been doing since in the last 2 years. I hope this helps and good luck!

Has anyone here had experienced purchaing a multi family with an LLC and with an individual as a TIC? Does the LLC and the indivudual's name must be on the purchase agreement? Anyone advice from anyone who has experienced this scenario would be appreciated. Thanks all!

@Spencer Cornelia thank you Sir! I’ll come by on Tue!

@Brian Walters for sure sir. Let’s do it!