All Forum Posts by: Omar Daniel Medrano

Quote from @Jacob V.:

I've seen garage conversions in Dallas city limits (including just making it a bedroom), but haven't seen a carport.

Are you house hacking already? If so you could move to another house, and negative cashflow ~$400/mo with another owner occ loan, and it'll positive cashflow when all 4 bedrooms are rented.

Then you'd have 2 cashflowing as opposed to one with higher cashflow if that's the goal.

If you're set on the carport - like everyone said look out for zoning.

What specifically am I looking for in the zoning to be able to have a detached dwelling like that? Carport was already built when I purchased home. Just want to enclose it basically and go on from there. 

I have carport that I want to enclose and convert into a apartment. Rough estimate is 30 to 50k investment to have it be liveable. Was wanting to try and get a heloc as the property has a 2.9 intrest rate and want to keep it at that instead of refinancing. Property now worth around 304k and purchased in 2021 and have 160k left on mortgage. So I know I have a decent amount of equity. Just wanted to get pointers or guidance to see if it will be a wise investment. Or things I should look out for. 

Looking to take advantage of tax breaks in my properties, have 3 single family homes that are rented out and my primary residence is being house hacked with two tenants. What's the best way to go about putting my homes into LLCs to take advantage of tax breaks. I know I need to find a RE Lawyer and CPA but also have no idea how to start doing that.