All Forum Posts by: Josh Green

I would consult this with a licensed professional (tax accountant and real estate attorney), but I will say it's more than likely you're going to want an LLC established in the near future. With that said, I'm a big fan of action - just go and create that LLC is you're planning to purchase within the next 12 months. It's a pretty simple and usually inexpensive process so might as well jump on that and take the next steps while that is under approval. Hope that helps!

 Thanks, Jared!

@Michael, just sent you a connection request! I work with investors on small to large investment properties, mainly residential. I do LTR and STR for my clients and would love to help!

@Merna Pettit what are you looking for? I can help out in the Tampa Bay area!

@Katy McEntire

Keep in mind the important factor is the numbers. I was concerned as well when I first learned of the 30day minimum but the occupancy rates are still very high. You tend to get better tenants as well when they stay a month and opex is lower than high turnover. Also, there are still parts of Pinellas county that do not have these restrictions and much of Hillsborough does well for STRs with less restrictions 👍🏼

Hi Bailey, would you be managing the property yourself?  The best way to determine comparable rent is to go online as if you are a renter yourself and see what people are charging by the room in the areas you're looking at.  This method shows you how the rent ranges by area, which areas have more rent by the room type properties, and what accommodations you should consider when advertising.   I'm a local realtor and I specialize helping new investors like yourself with house-hacking.  Let's connect and see how I can help!

@Francis Nasser can you share the link? Thanks!

@Stephanie P. Does this change if the ADU is Not registered with city?

@Raymond J. Rodrigues that would help but I'm really wanting to do 20% down and no more...and would like the rate at or below 6.5% par (no discount points).

Thank you all for the quick insights! The plot thickens:

so again the property is a single family + ADU. The entire place and adu we're flipped - everything is new so I would consider a teardown.

next, the adu has been recorded on county records. The owner just converted the ADU from a single unit to two units: a 1/1 and a studio (this was not permitted as they share utilities). So, I am thinking at least from a sales approach this adu sqft would be considered and I'm not concerned about the property being able to appraise. The question just remains if I can finance this as a DSCR loan for it to work will need rent from the main house + one of the two units in the adu to meet the dscr ratio requirements. Any insight on how I can know that the adu will be counted as additional income + how that would look? For example, market rent for the house should be $1800/mo and the 1/1 should be $1200/mo. This is perfect but I don't know if the ADU for whatever reason wouldn't be counted or if the rent would be reduced. It's difficult like you all said to find properties with an adu and their rental amounts - but the adu's are permitted in this area.

Hi All,

I've been looking at a single family property with a detached ADU (has 2 units!). The adu is not permitted and I was looking to purchase this with a dscr loan. Anyone have experience with appraisers and how they consider the ADU in both a comp sale approach and for the 1070 estimated rents?