All Forum Posts by: Brad Klimkowski

I recently bought 2 duplexes on the same lot. Zoning allows for 6 more units to be built, and given the location that it is in, building those units would be a lot more economical than buying more land or another property. There is also space for 22 parking spaces, so that also adheres to the zoning requirements.

What are my options in terms of being able to fund 6 more units?

I put 3.5% down on an FHA to get this property just as a little background.

Does anyone know of a good theme for real estate wholesaling? I have a few wordpress sites myself, but I was looking for a good landing page/website theme to direct potential sellers to.

Thanks

@Kiersten Vance Thank you for your response! I will do just that

 Great advice Michael! Thanks

 Paul, has this happened to you? I just want to make sure that I am not the only one out there

I recently purchased a property that has 2 duplexes side by side. For simplicity, I call it a quadplex. 

After I had already made the offer, I realized that due to zoning, I could potentially build more units on the property. The lot is 17,502 square feet, and according to this zoning guide, if the lot is over 15,000 square feet, it appears that I can build more, as long as I adhere to the setbacks (page 15) http://www.orangecountyfl.net/Portals/0/resource%2..

The back of the quadplex is 66 feet from the back of the lot, and the setback requirements are 30 feet for the zoning. Sure, I can can probably build more units, but I am more concerned about parking. Would a parking lot or driveway have to adhere to the setbacks in Orange County?

I have personally seen driveways and parking lots that are zero lot line, so I am hopeful about it.

Either way, I am looking for solutions, because I think there is a lot of upside to this property.

Thanks in advance.

I know that Zestimate on Zillow is unreliable, but I want to set up my Mint account with my mortgage, but I don't want my net worth to be like negative $100k. I bought a 4 unit for $429k and Zillow is saying $330k. I know that they aren't taking into account the rent roll. They are pretty much comparing it to other single family homes in the area since Multi-Family homes are rare in the location. Mint uses Zestimate to approximate value. Any solutions?

Thanks

Just bought my first property which is a 4 unit and wanted to join the conversations that are going on here! 

Awesome reply, Rich! Thank you

I just purchased a quadplex, and after reviewing the survey and the county zoning guidelines, it looks like I can build 4 additional units on the property. Given the fact that I just pumped a bunch of money into this place, I don't have the money right now. However, in the future, I would like to build those 4 extra units, maybe 2-4 years down the road. Does anyone have any experience with this or know of what my options are for getting the financing? Would it be as simple as putting another down payment down and refinancing the property?