All Forum Posts by: Pavlos Kasselouris

The unit that i had sold had a certificate of occupancy from the city. The one bedroom go for 650, two bedrooms go for 800 if we assume that you will have to do basic renovation. I havent done research on the property as for all the details. Heat is part of the Ac here in florida. I didnt see if it has central ac or window units. So the tenant pays electric. Water owner will have to pay. You should put coin laundry for sure. 

It doesnt say details, from the tax roll I think it has 4×one bd and 4×2bd.

I got this alert today. Please feel free to say your ideas. It looks like a nice project. I sold very close last year an 8 unit for 350K, which had been completely gutted about 12 years ago. This looks like a similar project but it will need a good rehab.

http://www.flexmls.com/share/Jufl/149-S-HOLLYWOOD-...

That's so awesome! I wish I had the ability to buy from auctions. I find it so complicated and risky for a part time investor like myself to learn and buy from those. Too bad there are not professionals out there that could handle these types of acquisitions for your part.   

I have some few questions on the subject so please help me understand certain things:

a) What are essentially the differences on your taxable rental income when you file as a sole proprietor and when you file taxes as a LLC. Dont you get the same tax benefits?

b) Do the properties have to be owned by the LLC, or can you use the entity as the rental management company?

c) What if the LLC is owned 50-50 with a partner, but I use my car more and take out for dinner other potential investors, vendors for business purposes? How can I deduct these expenses only for myself since I pay these from my own pocket and not from the rental income of the LLC?

d) Is there some other way to protect each interest without putting the properties under the LLC?

 So your goal is to sell fast or make the most money?

Obviously the better the price the faster you will unload the inventory. Even if you price it exactly at market value, the right buyer may not be there currently but  in a couple of months.

As for you wanting to make at least the money you put in the deals thats a complete different story. The buyer out there doesnt care how much you want to make, he cares how much it will cost him.

Let not forget that at the end of the day, the seller wants to make as much as possible and the buyer to save as much as possible. Now if there are other factors in this equation like in your instance wanting to sell fast, guess to whose in favor the scale will go...

I recently bought a property with an established tenant. The lease which I assumed was drafted by an attorney (about 10 pages long). Till now I used the Florida Realtors "Residential lease for Single family Home or duplexes" (about 19 pages long)

I actually liked the way the attorney drafted the lease, because it felt a lot more simple for tenants to understand, and it focused exactly in issues that mostly occur. The Florida Realtors one, I know that it is compliant 110% on Florida Landlord-tenant law, and covers every detail.

My questions are a) can I use the new one without the attorneys permission if I change it a bit? 

b) Which one would you use?

If you ever come across a wholesaling deal in Port Orange-S.Daytona- or Daytona South of ISB, shoot me a msg. 

Grrr I wish I could make it, but with a 2year old things are tough...maybe next time if the meeting is closer.

I'm with Travis on this one. Go work for a property management firm! You will learn and get paid at the same time!  Just by learning the ins and outs of the business, it will help you create a business model if you decide to go by yourself later on.

Also buy as soon as possible your first investment rental!