All Forum Posts by: Robert Morgan

Thanks Greg!  I will have to consult my Tax guy on the Capital Gains...need to learn more on that.

Yep...am working on creating a rent by the room lease.  Great advice!

We are in the process of getting ready to rent out our primary home to our daughter and two other ladies...I am assuming that we will need to change our Homeowners insurance to Landlord Insurance when we move out of the house.  Any tips on what to look for in Landlord Insurance?  

Next question...my wife and I are going to be renting our house...3 bedrooms to 3 ladies...we currently have two ladies that are wanting to move in...one is my daughter.  We decided to do this to help these girls due to current high cost of studio apartments in the Lakewood Ranch area...so we will actually probably be taking a slight loss, but we will be paying down our loan.  We have been using word of mouth, but we are still needing one more to close out the rental.  Any suggestions on how to reach out?

Thanks!

Starting our Real Estate Rental journey...Wife and I are moving across state due to a job re-location...we want to keep our primary residence while we rent an apartment. We plan on Leasing our Primary Residence. My daughter will be one of the tenants. We will be looking for a duplex to purchase in the next year to add to real estate. I do have a few questions as we start out.

1) Most important item is to protect our Primary residence. Do we need to do some sort of Change of Address to our Title or Mortgage as we move into the apartment? We will need to update our Personal information on our Driver's License as we start new jobs in the new location.

2) Any advice on dealing with HOAs and Leasing...Leasing is allowed, but Sub-Leasing is not. This might be a problem.

3) Should I consider an LLC if I rent my Primary Residence...I would think that in order to keep homeowners' exemption for property tax I would have to keep it in my wife and my name...thoughts?

4) So we have two of the three tenants, but we want to find a third...any recommended tenant search tools?

I picked up the Lease documents from Bigger Pockets for Florida. Reviewing now.

Thanks for any help!

Starting our Real Estate Rental journey...Wife and I are moving across state due to a job re-location...we want to keep our primary residence while we rent an apartment.  We plan on Leasing our Primary Residence.  My daughter will be one of the tenants.  We will be looking for a duplex to purchase in the next year to add to real estate.  I do have a few questions as we start out.

1) Most important item is to protect our Primary residence.  Do we need to do some sort of Change of Address to our Title or Mortgage as we move into the apartment?  We will need to update our Personal information on our Driver's License as we start new jobs in the new location.

2) Any advice on dealing with HOAs and Leasing...Leasing is allowed, but Sub-Leasing is not.  This might be a problem.

3) Should I consider an LLC if I rent my Primary Residence...I would think that in order to keep homeowners' exemption for property tax I would have to keep it in my wife and my name...thoughts?

4) So we have two of the three tenants, but we want to find a third...any recommended tenant search tools?

I picked up the Lease documents from Bigger Pockets for Florida.  Reviewing now.

Thanks for any help!