All Forum Posts by: Alexandra D.

Hi @Nestor Morales! I am new to the STR space as well :)! I wanted to introduce myself. I am looking in FL and PA. I just started researching in the Kissimmee area in FL. From my research on FL so far, STR regulations are variable so it might be the same in the Tampa area. Knowing the market and having good boots are the ground will be vital. I just finished the Short Term Rental Bootcamp with Bigger Pockets and it is a great resource to check out!! Well worth the investment!!

Investment Info:

Townhouse fix & flip investment.

Purchase price: $115,000
Sale price: $165,000

This was a basic fix and flip. Paint, carpet, light fixtures, deck and outside clean-up, plumbing and sump pump corrections.

What made you interested in investing in this type of deal?

It was an easy, quick flip.

How did you find this deal and how did you negotiate it?

A realtor brought the deal to me from another investor.

How did you finance this deal?

Hard Money

How did you add value to the deal?

I made it fresh for the MLS :)

What was the outcome?

The house went under contract quickly. The first contract fell through and we had it under contract again quickly.

Lessons learned? Challenges?

Leave enough room in the budget to hire someone to paint. Create a project management list so I am not wasting time driving to the hardware store multiple times in a week, sometimes in a day.

Awesome! Thank you, that is generous of you both @Dan Rivers, @Troy Gandee! It would be best if you talked to my partner directly so I will pass along your contact information. They will appreciate your time!! Thank you again!

Hi everyone!! I hope I am in the correct forum.

I have a business partner that lives in Charleston, SC and was looking for advice on whether to sell her current home or rent it out. She has a new house under construction now. Her and her family are looking to move into their new home around June. Which strategy would be more beneficial for that market when it comes time for them to move (selling or holding)? Can anyone recommend real estate agent investors that they can contact in regards to this? 

Hi Chris, this is who I use as well as other local investors. William L. McKernan. His phone number is 610-277-7921. He is located in Blue Bell, PA. Hope this helps. Alex!

Hi John, here is a name of a CPA that spoke at one of the local real estate investment meetings recently. He is out of Blue Bell, PA.  

William L. McKernan.  Contact info: 1133 DeKalb Pike Blue Bell, PA 19422, Office #: 610-277-7921, Cell #: 215-896-3951, [email protected], www.wlmckernan.com.  

I have not had personal experience with him. He seemed very knowledgeable and he works with real estate investors though. Hope this helps!  

Thanks @Kevin Siedlecki! That is a great idea. She sounded motivated so I wanted to have a few options prepared for her if she wanted to negotiate. I will definitely present the 0 down, 30 year term before anything else and work from there. Thanks again for the information! I will be sure to keep you updated. 

Hi BP! I am talking with an off market seller. She is trying to get rid of her SFR that is currently a rental. The lowest she is willing to take for the property is 69k, she thinks the property is worth 75k but based on some of the recent sales in the area it might appraise around 80k-85k depending on the interior condition. I was going to offer her the 69k if she is willing to do seller finance. She says the interior doesn't need any repairs and it is currently rented. She said the tenant has been there for 7 years and she pays $1000 every month, always on time. This will be my first deal. Can anyone suggest a resource on how to structure a seller finance deal and/or give suggestions for how to present it to the seller via verbal offer? I have to respond to the seller by Monday, November 28th. Thank you in advance!!