All Forum Posts by: Jacob Kline

@Jonathan Greene best reply on the thread. I couldn’t agree more!

Tomorrow I have my first call with a qualified pre-foreclosure lead. Pretty excited as it’s in my ideal area of town, should have about 50% equity (based on court docs), and seller is motivated. Also I’m the first person to reach out to him about it.

Does anyone have any tips for my call?

Thanks!

@Nancy Bachety great to hear! I’d love to get together next time you’re here. I’m sending you a request to connect now.

@Pennie Nakashima have you found any deals in the market yet?

@Evan Greenfield did you end up executing this project?

I would suggest TBL Construction or Forrest Builders.

Are you still looking to do projects in the St Augustine area?

@Jacob Kline also, I dont have any STR in St Augustine for that very reason. I knew they would enforce the one rental per 7 days and one parking spot per room rented (at some point), which makes the investment no longer profitable.

@Nancy Bachety nevermind my previous message. Did a quick search and looks like your property is actually in the my neighborhood, even funnier built by the same builder who built my house! Small world.

It’s not a 7 day minimum as far as I know, it’s one rental per 7 days. And that is in the zoning code for RS-1 already, there’s nothing to pass. They will just start enforcing it, along with the parking requirements and fees.

This is just what I have heard and seen discussed at the city commission meetings.

@Nancy Bachety are you talking about the STR market in your area or St Augustine? Sorry, I'm just confused as your location says NY.

@Nancy Bachety no vote needed, they are just enforcing the existing zoning code.

The city has proposed a registration process where the STR hosts will be required to sign up and abide by the rules, taxes will be enforced the same way hotels are taxed- with a bed tax. The taxes will be used to employee a STR committee which will enforce the code.

They will also enforce a 1 parking space per room rented as STR, which will knock out about 70% of the STRs.

I’m honestly happy they’re doing this because Airbnb has taken over the nicer neighborhoods and people that have lived there for 30 years are moving because people have parties and clutter the streets.

@Atwan Kwan look on your county’s official records for document type “final judgement default”, then search the address to figure out if it’s a foreclosure or eviction. If the plaintiff is the property owner, then it’s an eviction. If the plaintiff is a lender or note holder, its a foreclosure