All Forum Posts by: Austin Hair

thank you!!

Looking for recommendations for our short term rental property in Orlando. It's a duplex and we actually live upstairs. Is short term rental insurance necessary even though VRBO and airbnb have liability insurance? I got a quote from CBIZ but it was $3,300 a year for a 2700 sq foot house. My normal home insurance without short term rentals was $1900 before. 

thanks 

@Paul Sandhu whats the catch? that seems too good to be true, every investor would be jumping all over that. what city are you in?

@Jason Taliaferro yes pretty passive if you have a maid, pool company, and lawn maintenance. We rent out half of our duplex so I manage that property and doesn't take much time bc I live there. The other property has a small guest house that I pay the tenant 20% to manage the larger short term rental. That one is almost completely hands off. If you can replicate that deal with a ADU I'd 100% recommend going that route for sure. Make sense?

We have two in Orlando and it's going great. We have a little more responsibilities than a long term rental but much for cash flow.  I would say it's about twice as much work and twice as much profit, so still worth it in my opinion. 

Are you in orlando? It's true it is not allowed but it's a weird dynamic because the city makes 12% in occupancy taxes so they actually benefit a lot from short term. However it's the neighbors who don't like it. So in my experience the city isnt motivated to investigate this on their own which means that if you have cool neighbors who don't care you can get away with it. All that being said, I think the numbers should still make sense for long term rentals just in case. When we pull up the area we like we don't see a whole lot of houses for rent in that area. Home values range from 400k to 1.4M. Is that typically too expensive of a range to make a good rental property?

My wife has an hour and a half commute that we're looking to shorten. So, we're looking to buy a place closer to her job, preferably lakefront, and then move out of state in a year and rent it out short or long term. Right now our 2 airbnb properties are killing it. I have capital but I'm struggling to find a good deal in this area; what's the best way to maximize ROI? The area we are looking is near Winter Garden, FL. My main concern is positive cash flow long term.