All Forum Posts by: Kurt Traynor

@Peter Lampione and Dina, Welcome to the BP community and to Sunny FLA..   I too caught the bug "Late" on life, I will be 43 next week.  I'm originally from Glen Head, NY and currently live in Parrish, FL (just east of Bradenton).  There are an abundance of Duplex' in Bradenton, most returning about 1% with minimal rehab.  I have my eyes on some Multi's like the ones that you seek as well.  St Pete is a great booming market too, very well established core with a major influx into the City.

I'll be out of town for Christmas break but PM me and let me know if you come down earlier or stay after New Years.  Would love to hook up and maybe grab some coffee.  We might be able to do some business together.  

I'm in the process of getting my finances back in order, thanks to the inflated market.  I had some family health issues to take care of but selling my current home will put me back in the positive.  That's when I will be investing alot more time into my buy and hold plans.

My wife is about to take her real estate exam so she will be another asset.

Looking forward to hearing from you,

K

Talking with the county and a contractor, here's the latest. County yes would require permits, however my contractor said I could potentially just sell as-is.. of course this may attract different buyers but overall to get my additions up to code I'd be looking somewhere in the lines of $20-25k. I'm looking into a real estate attorney to find out all the paperwork in loved but seems more economical than to do the permits, because I won't recook the money. A suggestion was to demo the garage space and convert back to a functional garage. I was given about a $10k quote for that. Seems like a better option. So with doing the AsIs sale I am going to put a $10k buffer so that if I get an offer and the permitting comes up I'll just drop $10k off the sale or tell them I will convert to a garage. Gives the buyer the option. More info to come once I speak with my attorney.

Thank you all for your input, kind of goes along with my thinking.  Doing the right thing now, so I don't get caught up later.  @Wayne Brooks I understand that not having a garage is a selling point, I do however have a huge enclosed barn on the property and being the weekend warrior I am, I don't miss having the garage.. plus the garage is now the game room!.  Yes, @Brandon Battle I am going to go down and see what I can do.  The only potential problems I may see is the hot water heater being in the closet.  I'm able to drain the tank when needed from the pressure valve, but if it blows then all of the water will run under the raised floor in the "garage", that could be an issue..  Aside from that the windows are all double pane and up to code..  Either way, I think getting it done now and tacking on 600square feet under air will help in the long run.  @Brandt Smith yes, I'm just doing it now..  @Ryan K., yes the 2 new locations what were the Garage and Screen porch are now a game room and workshop.  All with A/C and Heat that are tied into the laundry room and 1/2 bath.  It's tied into a 3rd central system.   

If anyone cares, I'll send an update!!.. wish me luck!

I purchased my current home about 2 years ago, it was a Short Sale.  One of the previous owners enclosed the back porch and the garage.  All the work seems legit but my problem is this.  Tax records in Manatee County, Florida show my house as a 2,712 SqFt Living Area, but if you add in the "additions" it would be 3,323 SqFt.  I'm inquiring about this because I'm going to put my house up for sale and want to list it at 3,323.  When will the flags come up?  I wouldn't mind biting the bullet and pulling permits and paying for them so that my tax records show the increased square footage.  The X Factor is did they do it up to code?   And if they did, are they up to today's code?  I understand my taxes will increase, but honestly, since I'm selling soon, it's not that big of a deal.

If I leave it as is, will there be a potential problem for the new buyer?  I would hate to have these skeletons come out of the closet at the 11th hour.

My realtor suggested that I call the county and discuss with them, without giving my home address so that I can get some answers.   Basically, comp's are about $135SqFoot selling right now so getting that increase on the tax records could be a difference of about $75k

So I was out over the weekend driving for dollars and came across some Duplex communities.  I was interested to inquire with the tax records and do all the analyzing..  then noticed this picture come across my local news station..  I know there's so much discussions about investing outside of your home market, and this is case and point.. this is not a flood zone.   This is why I would be really hesitant about investing further than I can drive, but that's my view.  

well so much for that opportunity, i'll be jumping in a canoe and canvasing out the other areas that I was interested in.. 

@Laurie Johnson jumping on a plane right now, have to head up to NY for work.. sorry can't make it tonight..  wish I could, my son was excited for me to attend!!...     Please keep me in the loop on your next meeting.  I live out in Parrish and if I'm in town, I'll be in attendance..  

I am.  However I'm pretty inactive right now.  rebuilding my savings to purchase 3rd house.  My wife is going for her real estate license this summer so 2016 will be a restart.   Lmk if you get something going, I live in Parrish.  

Welcome to BP. After I rebuked my savings account I'm going to be back out to build my Buy and Hold portfolio. Have 1 right now and have been itching to go full force along with my 14 year old! Good luck. And see you out there.

welcome to BP @Debbie Meteraud..   From south of the Skyway.  

welcome to BP @Raman Singh was saying finding your niche is important because if you try to tackle it all you'll be overwhelmed.  Narrow it down then go from there.  I'm a buy and hold investor because I'm looking at the passive retirement income, although would love to do some flips but the market is a bit inflated right now so I'm waiting.  

Good luck!!