All Forum Posts by: Alexander Mir

What is the returns for profits in these areas? did you run the LTR cost with rents? You are probably upside down in Kissimmee for LTR. I always run my STRs with LTR rents also, as my back up plan if cities change permits or cause me to switch to LTR 

Hey Alex,

Yes, there are a lot of both STR and LTR in the Kissimmee / Davenport area, but that doesn't mean necessarily mean it's not a good area to invest. The key is finding the areas / neighborhoods with strong rental rates that are not saturated with too many LTRs. I would not be too concerned about the STRs because from what I am seeing with the STR owners transitioning to LTR, most of them want to rent it furnished as a LTR and charge more than market rent. The bigger concern is the saturation of existing LTR rentals.

If you are looking at any specific properties and want me to do a rental analysis, feel free to DM me.
  

Start checking Zillow, Redfin, etc., for both rentals and sales prices. You can cross reference with rent aggregators like Rentometer.com. Use these numbers to get an idea for which area you will see a better return on to help you focus. Then start reaching out to real estate agents in the area you like with a specific focus on agents that have experience working with investors if you can find one. Finally, start hitting some meetups if you can to pick people's brains, find potential deals, learn what about areas you don't know, etc.

Best of luck!

Have you considered small multi-family opportunities? Generally speaking, the right ones can make great long term holds? 

Short term rental is always a larger gamble with more headaches than a long term rental. There are more moving parts between cleanings, reviews, keeping inventory of a furnished place, bookings, new people every few days, people not understanding the difference between an airbnb and hotel etc. Long term rentals are a for sure thing however you get a bad tenant and you are stuck them for an extended period of time. You are going to get paid every month and not going to have to worry if your place will be booked or not. Property management companies are valuable especially if you are living farther away because they deal with the headaches in any rental. They can help get you a high quality tenant for the most money possible.