All Forum Posts by: Randall Re II

@Allan Smith thats very interesting on the dublex comment. I'll look into these things.

@Kenneth Garrett, I feel there is plenty of square footage as I've seen homes with the same size on the market, which is what gave me the idea. 

My house is separate from my garage, and my garage is 750 sq ft. How can I go about finding out from the city/ or what do i do or who to call to find out if I can legally turn it into a livable space to rent out separately? My lot is over 7000 sq ft and my garage isn't to bad. Also, would it be expensive to turn the garage into a livable area? It's in Florida. I'd do a split unit in the garage because it's small or see how easily it is to add on to the A/C unit (its brand new). I'd have to add plumbing, etc. What do I need to do, so I can rent it out as Florida rental market is very good now.

When I look at my properties blue print, I add up the math and the livable property is around 1660 sq. ft. but when I look on zillow, etc... they all say 1200ish sq ft. What am I missing here, I'm not bad at math, and curious what I'm doing wrong?

Investment Info:

Single-family residence buy & hold investment in Port Charlotte.

Purchase price: $195,000
Cash invested: $40,000

My first property back in 2021. I was so nervous as I bought this while in Afghanistan during the withdraw. My agent withheld all the bad stuff to just get the sale, the PM and inspector she sent me were horrible, however, I did such great research, it worked out in the end. By 2023, I'll be able to raise rent a large amount to be making over $300 a month positive cash flow.

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

Wanted to sell my house and buy my first rental.

How did you find this deal and how did you negotiate it?

MLS and my agent did as I asked. I was lucky, they took off $5k for a new roof during the hot market in Florida.

How did you finance this deal?

Loan.

How did you add value to the deal?

New roof and spent another $15k fixing up the house on things needing to be fixed.

What was the outcome?

Turning out to be a good base hit.

Thank you all. Very helpful. 

I'm currently oveseas right now and don't have a w-2. I have time on my hands to research markets and find rental properties that would work for long term and airbnb. The issue I am running into is with no w-2, can't get a loan. What's the best way that I see so many people scale to several properties with no to low w-2 wages for loans? The money is the only thing slowing me down. I currently have 1 long-term rental that I'm doing pretty good on. 

Any updates on anyone using southern?

Mike, 

I'm a veteran thats currently deployed. Would you be against me picking your brain to see what else I can learn from your experience in flipping and new home builds in the PC/NP area? Ive been in that market for a few months and trying to learn and do as much as I can with the limitations that I have being overseas and with doing most of the stuff on my own.

Peter, 

What are some of those construction companies you have toured that you might recommend? I've been looking there for built to rent for SFH and multifamily homes.