All Forum Posts by: Kurt Jones

Try a local community bank. The big boys are much more difficult to deal with (Chase, Bank of America, Wells, etc).

Do your research. Daytona has already outlawed airbnb beachside. Go to Jax.

Lots of people on this thread will say just go ahead and split it. Recently I looked at doing just that and honestly it was incredibly expensive to do so. With all of the permits, work orders and nonsense that the city wanted done, it was going to take me years to recoup the investment. Easy solution was to add a “water surcharge” to that unit.

Pretty easy right now. Local credit union or community bank, Stay away from big banks (Chase, BAC, etc) as they are a pain in the *** to work with. Currently working through a six unit multifamily and just completed a refi with a community bank that is a portfolio lender here in Central FL.

Not exactly a rigorous research endeavor quoting “unpublished paper by ...” Translation, couldn’t find peer reviewed statistically significant evidence. 

Find a good property manager (difficult I know) that you can bring onto your team. They do their job while you use your time/talent in the highest and best use. Most of us here have started with self-managing to learn the ropes. But once you turn over the headaches to a manager, your shoulders feel very light indeed.

Given his criteria on cap rate and no rent control, I’d stay away from the people’s republic of California. 

Well, I invest here in CFL and the reasons are usually predictable when deals fall out- diligence process does what it is supposed to do - make the information symmetrical. 

Put another way, the sellers listing is as polished as that property could ever be with flattering pics and a buffed pro-forma. Once you the buyer have a chance to uncover the rest of the story, only then do you have a peek at all the information.  Usually if I walk from a deal during diligence it’s just a lack of value. That may be a large repair needed, inconsistent or missing rental history, or flat out misrepresentation of the opportunity. 

That having been said, I frequently write up a revision onne I find significant issues and offer the seller a chance to negotiate a revised deal. If not, adios. 

PM me if interested. Have a BRRR small multi that I've repositioned in central FL.

As for the laws, many county clerk websites (at least here in FL) have free downloadable forms for 72 hour notice and the eviction filing paperwork.