All Forum Posts by: Donnie Thomas

Ok thanks Shawn. And Stephen haven't researched much into joint venture.  I may end up selling the lots and going for a rehab mainly due to lack of knowledge and comfort in that area of investment but definitely feel like I could turn the property into some what of a income producer. 

Tyler it’s located in just north of Orlando in Apopka near altomonte side 

Alright I’ll try to keep it brief. I live in Florida I’m 29 yrs old I have a 2 bed 1 bath rental on 2 acres. I’m new to real estate investing and don’t want to make a detrimental mistake early on. I’ve done some research and it appears I can split my lot into 3 separate lots I.e flag lots. It’s not 100 percent certain but the county tells me it shouldn’t be a problem all in all it looks like it may be up to 3k out of pocket to complete. So do I split the lots and refi while the market is high then keep the house and sell the other two lots to generate cash to invest into the next rental/brrrr house, or 

Option two keep the land and refi the house to pull equity.

Land is zoned r-2 so if I were to split the lot in thirds I could in the future have up to 6 dwellings on the 2 acres 

Any info would be appreciated thanks in advanced