All Forum Posts by: Joseph Beilke

I can only speak for the Palm Coast and Flagler county area, but be very carefully with land wholesaling.  There has been a lot of fraud in the area.  Realtors, owners, buyers all have gotten burned.  Make sure you are very up front and transparent about the transaction and your intentions.  Even local title companies are turning down business for land sale without a very clear and open communication of all parties.  Being able to bring verification of ownership from the seller is key.  I for one will not be working with a wholesaler on land unless I have direct communication with the current owner.

@Jayson Tuliao

They only way to properly answer this question is run the numbers. Run different scenarios, use the information you have and then make it worse case. Which ever scenario keeps the most money in your pocket and the best ROI is the route to take. If none work, then you might need to explore other means of funding. Rates are hight right now and if your primary residents has a great rate the HELOC normally is the smarter play as long as your have repayment plan that allows you to risen and repeat. Good luck!

@Steve K.

Check on my profile and reach out. I specialize in LTR in Palm Coast and have some great working relationship with STR managers that can help you and I narrow down the right property for your real estate investing.

@Steve K.

Orlando to Palm Coast is a long ways apart.  I specialize in Palm Coast and Ormond Beach.  Would be happy to be you POC in that area.  Just like Shawn, said let's set up a call.  I'll DM you as well.

They STR game can be very complicated in NE Florida due to zoning laws, imaginary lines between cities that are and are not incorporated and county rules. Some times it's easier to just identify a possible property and the first you check before even scheduling a viewing, is check the STR rules on that address. You will find like in St Augustine are, one side of the street your good to go, the other side, it a NO.

Earl,

I shot you DM and let's talk about this. You might be able to do better then a SFH if its zoned right.

@John Warren. I am fair from familiar with IL or Chicago RE Laws.  Can you elaborate please?

I'm going out on a limb here.  But I think you would need to follow the same route or similar route as a mechanic's lien.  

As a Firefighter and Real estate professionals, I would contact the Tenants Property and Liability insurance provider to cover the difference.   If you did not require your tenant to carry this type of coverage and not name you also on the policy as insured you may be out of luck.  

I would then approach the tenant and work out a solution that is far for the both of you.  I recommend not dipping into the deposit unless you have no other choice to pay the bill.  

@Robert Ellis  

It wasn't free but it benefited everyone to structure the deal that way.