All Forum Posts by: Tim Kaminski

@Corby Goade

Thanks for response. Yes I have never had that amount of money so it is very tempting but should stay the course.

@Nia Hall

Thank you for your reply. Yes it could be worth $500k or it could be worth less ha which is why I ponder. But yes I think best solution is to refinance and hold onto it. Thanks

@Dave Foster

AC and WH new as I replaced them within past 2 years. Roof probably has about 7-8 years to go before have to start thinking about it.

It is actually in Tampa Heights and the area is getting a lot of growth with builders coming in, breweries etc.

I’m thinking of refinancing and holding the more I think about it and get feedback from other investors like yourself.

Hello.

Bough 1920s duplex in 2018. Have $145k left on mortgage. Received an offer today for $300k. Thinking I would come away with $120-125k after everything. I’ve never had that much money. I’m a newer investor. This is 1/2 of my portfolio.

Part of me wants to hold long term as that’s what I have heard but part of me wants to sell, and reinvest into more property.

Thoughts?

@Timothy Smith Yeah, just adding 1 wall.  Not removing/altering any others, but as I am "changing the occupancy" of a building, so figured it had to be permitted.  Just not sure how close the city is going to look into who is doing the actual work. 

Just curious how fellow DIYers do this to their investment homes.  Do you just handle cosmetic items yourself and things that wouldnt require permit pulling?  Do they just ignore permits?  Do they pony up the $$ to hire out permit items, even if they can handle it themselves?

@Timothy Smith So I'm just taking space from a family room to add a bedroom so not really adding any SqFootage.  Have not already brought it to their attention, just doing my own research.

BP,

Located in St. Petersburg, Fl. Am under contract with a single family home that I plan on adding a bedroom to. I work for a construction company and am quite handy, but county is saying I can’t do any work on these properties if they are for sale or lease. I intended to get the work inspected as it would be increasing occupancy of building, but this was my value add! The fact that I can do most of this work myself and save a bunch of money let’s me buy at a different price. This is just making me want to skip permitting altogether, but will I have issues down the road? Now I have to hire out a company to overcharge me for work I know I can do? Just very frustrating. Rant over.

Would appreciate any advice.

Thanks,

Tim

@Tanvir Sattar  This was St. Bernard.  I think the home has some potential structural issues as it is located on a hill and may be falling so have not looked into the home quite as much now as i did initially.

@Colleen F. I think it’s pretty common. Just wanting to make sure I’m not doing anything too illegal