All Forum Posts by: Aaron Washington

Thank you everyone for your recommendations. For those of you with homes or rentals in Florida, especially the interior like Orlando, do you opt for Wind/hurricane coverage? 

Thanks in advance,

Aaron

My wife and I are in the process of closing on a vacation home in the Davenport area. We plan to rent it out, as an STR, while we are not there. This will be our first vacation and STR home.

We need to determine the right insurance, and fast. Please keep in mind, since this is a vacation home, it will not be covered under the protections of an LLC (at least not initially) so we need to make sure we have liabilities covered. 

How do you structure your insurance? Do you have one plan or a plan with supplementals such as liability?

Also, is wind and hurricane a must?

Thanks in advance,

Aaron 

Hello,

My name is Aaron. My wife has been a realtor in norther Indiana coming up on a decade. We have been lurking and learning for a while now and are finally ready to start our real-estate investing journey. We plan to start with short term vacation rentals, in multiple locations around the country, then possibly move into other disciplines from there.

We are happy to be here and learn all we can.

Aaron

Thank you @everyone for your input and advice. A special thank you to those who reached out privately to offer their assistance, extensive knowledge, and personal experiences.

After thinking long and hard about all the advice, pouring over all the data we could collect, and considering we have at least 18+ years of Disney and Universal trips ahead of us with our kids, we decided to move forward with purchasing a vacation home in the area. If everything goes to plan, we will have our vacation home and first STR up and running by the end of May. I'll post the results once we've got everything setup to see what y'all think.

Stay tuned,

Aaron

My wife and I are new to the STR world. We are currently looking for a vacation home that will double as our first STR in the Orlando/Davenport area. While running some of our options thru Awning.com, we noticed that having a hot tub in some areas changes the revenue dramatically (+/- 20k+), while in another area only a few miles away a hot tub has little to no effect on the potential earnings.

Can anyone help us understand why this might be? My wife and I would like a hot tube. If it truly means a reduction of 20k+ we can however live without it.

While on this topic, are there other features, we may not have thought of other than pool and hot tub, that have a dramatic effect on a properties earning potential?

Thanks in advance,

Aaron