All Forum Posts by: Tim Kaminski

@Dave Grimson

What does each side rent for and what do you pay monthly for mortgage? Did you have to increase rents?

What was your monthly payment pre-refinance?

What was your interest rate pre/post refinance?

Sorry if the questions are a bit intrusive. Have a duplex I’m considering refinancing on but concerned about losing my good interest rate/cash flow.

Interested in the responses for this. I would think you would call the companies ahead of time and make sure they are aware of the cancellation of services and just have them transfer to your name/LLC April 1st. I wouldn't shutoff any utilities as they may charge you to "start up" services. Just keep them on but don't use them.

@Shannon Cohan This property is nowhere near the beach. Off of 4th street but will just have to call about Airbnb laws.

Really just wanted to know if anyone had been through the rezoning process and could speak to how difficult it was.

@Adam Benmbark

So calling them up, before I bother making an offer and asking them if rezoning to allow multiple units is even possible/how probable?

Hello!

Looking for my second deal but the times they are a tough! Found a SFH with a very large double garage that I would like to owner occupy, and plan to value add by finishing the garage and turning it into Airbnb/Separate rental.

This is in Pinellas County of St. Pete. Questions are:

How easy/hard is it to rezone a property to allow this? Currently it is just Single Family use.

Anyone have any idea on what the current Pinellas county laws are on Airbnb? I live in Tampa and I thought it was illegal but a simple search shows plenty of properties offering that service.

Just wondering if it is a good idea to look into a property like this if cash flow positive all depends on getting property rezone. Obviously I would like property to cash flow without the garage conversion but this is 2019 in St Pete and that isn’t the easiest thing to find.

If you're trying to buy for $100-150K in Tampa, then It will be in D/C areas. 150-250 C/B areas.  It's possible but hard and probably harder out of state unless you have boots on the ground

@Elenis Camargo So you are using all of the cashflow from the 3 properties to pay down the HELOC, is that correct?

How do you self manage from afar in terms of showing the property to potential tenants?  (Through reading your comment, I see you had a PM find a tenant for you)-  Do you think that just motivates a PM to just put any tenant in there, knowing that they don't have to deal with a potentially bad tenant?  Is that all you use PM for?

Do your tenants just have your phone # and you angles list a local electrician/hvac guy or did you already know ppl in the area through referrals?

Have my first property and considering the HELOC route for the 2nd but just seems like a lot of risk. Also considering investing OOS for cheaper properties.

@Chris Maurice My duplex was a 5% down conventional loan.  Owner Occupied.  It exists

@Scott D Burrows Thank you!  Have reached out

@John Warren My first loan is conventional 5% down, Owner occupant of 1 year, loan.  I have created value and have explored refinancing but I have a really good rate and the amount I would take out is not too significant.  $20K.