All Forum Posts by: Anand S.

@Kristin Arby Did you purchase in Victoria Park by chance?

I've got a pool table and foosball. Both are easy maintenance and folks love it. I replace the pool sticks once in a while and will probably have to refelt once every two years but the ROI is worth it.

Got it. Pricing seems high for that area and home. You might want to negotiate down based on needed repairs because his revenue/profit is solid. I can only imagine it doing better with updating. Again, verify the income based on reports taken directly from the booking platform. Don't just take his word for it.

In South Florida, being on the beach means $$$$ so it's not easy to cash flow but it can be done. Most likely you will need to find a distressed property that will need repairs/updates but those have the potential to cash flow. 

Location, size (BR/BA SQFT) and pool would also help in determining nightly rate. 

Not sure what market that is but occupancy seems quite high. FL is hot and humid as heck in the summer so impacts occupancy during those months.

He should be able to print out his transactions from ABB and HA so there is no debate as to the income. If he is hesitant to do so, I'd be concerned. Utilities seem OK and cleanings a bit low but not much to be concerned there. 

Lastly, I wouldn't pay more than retail for the home. 

Here in SFL the savvy investors pivoted to STR as a way generate the necessary income to hold their properties during the downturns, and were successful in doing so. I believe vacation rentals are the best value for the buck, so imagine more would seek them out in a downturn. You may have to adjust your pricing but you should still generate more income than LTR.

In Fort Lauderdale it's legal and regulated. We own a few and they do well but it's not as easy as it sounds. Reach out if you're serious. 

I use Properly. Syncs with all major Channel calendars. It has an app that my cleaners download and I am able to push jobs to them. Works very well. 

They also have a list of cleaners in your area that are using the app that you can push jobs to. I've actually found new cleaners this way. 

There's lots of other useful features. Costs about $100/year. Highly recommend.