All Forum Posts by: Brandon P.

I am about to purchase a property in Miami Beach to do STR, and I'm so excited to start my Airbnb business venture. However, it seems like there are so many rules and regulations with the State/City and when it comes to getting approved to list on Airbnb. Is there anyway to bypass any of the requirements? One of the requirement that is the most challenging to obtain is a letter from the HOA saying that STR (less than 180 days) is allowed. Can we provide other documents in its place if the HOA doesn't provide?

I took a look at the Miami STR zoning map from the Airbnb website and saw that the property that I'm about to purchase is in a zone that as "Short Term Rentals Allowed in accordance with all applicable State, County, and Local regulations." With this said, I'm taking it as it's not prohibited at least. There is a lot of paperwork and certificates to obtain, but they require the letter from the HOA.

I was browsing Miami on Airbnb, and it just seems like so many people are able to do Airbnb in Miami. Some places look like they are in really nice high-rise buildings with probably really strict rental/leasing terms from the HOA. So I'm wondering how are these people able to get on the Airbnb platforms to list their properties with the strict paperwork requirement. What is the loophole here?

I'm close to closing on the property, but now I am wondering if this is a good idea to move forward if I can't even get to list on Airbnb so really do need some help to make a decision.

Thank you so much!

I'm trying to decide which area would be the best for someone just starting out. The cities on my radar are Tampa, Jacksonville, Orlando, and Miami. I'm hoping to gather insights from those with experience in these markets. Which city do you think offers the best environment for a wholesaling newbie? I'm interested in factors like market demand, competition level, and overall growth prospects.  Any advice or personal experiences you could share would be greatly appreciated!

Thank you!!

Hi Everyone,

I hope you're all doing well. I'm reaching out to this forum in the hopes of gathering some innovative strategies for real estate investment, given my current circumstances.

Here's a bit about my situation: I've been experiencing unexplained pain in my hands, which has unfortunately made it impossible for me to continue working. As a result, I'm finding it incredibly challenging to establish credit or secure traditional sources of income.

Currently, my kids and I are living with my parents in Sigourney, having moved there last June. While I'm actively exploring various avenues to improve our financial situation, I keep running into dead ends. However, I'm determined to find a way forward.

I'm particularly interested in real estate investment opportunities, but without access to credit, I'm at a bit of a loss. I'm eager to hear about any unconventional methods or creative approaches that could enable me to invest in real estate despite my limitations.

Additionally, I'm working on expanding my skill set by taking online courses in game development and gaining experience in website design and app development. While these efforts hold promise for the future, I'm seeking practical strategies for navigating my current challenges.

I'd greatly appreciate any insights, advice, or resources that you could share with me. Your expertise and ideas could make a world of difference in helping me achieve my financial goals despite the obstacles I'm facing.

Looking forward to hearing your thoughts!

Phil

Hey there! 

I am looking to potentially purchase a condo/single family home to live in and refi down line in the Miami area. However, I have this huge fear when it comes to auctions. Titles, being occupied are my biggest fears. But I know it could be a great reward in the end. 

Anyone have any experience in Miami or Broward County? Advice? 

not sure what you mean by basics. what do you mean by basics?

feel like i've consumed enough media over the years i'm past basics stage.

ok lets try a specific question:

what company can i call for an insurance quote on a 4plex that would be all units  rental not a live in? i tried geico and basically got a long  runaround and eventually disconnected they dont seem to know how to deal with a 4plex. 

I am looking at a property that has two structures.  The main house 2+2 and the garage with a studio apartment located underneath.  I want to live in the studio and rent the house.  So I guess it's not "reverse" but normally I see house hackers renting out rooms within their main house, this is different.  Anyway... is this considered house hacking?  Or just renting a stand alone property?  Both structures are on same lot and have same utilities but are not connected in any way.  I'd like to start renting the main house asap!!!  any advice?

Hi! I currently have a large 1/1 with a ton of space in a highly desirable location in Chicago. With interest rates being so high and it being a condo I pay just under 3k/month. The condo surprisingly has no limit on rentals, as confirmed by my lawyer I could Airbnb it if I wanted to. Right now I have a very demanding 9-5 and don’t see running an Airbnb as an option right now. I have a great contractor and have explored adding a bath for 45k and/or add a bedroom (removing the large dining room). If I add a bath I could split the unit and house hack, however I don’t see it covering all of my housing costs/renovation cost at least for some time. Alternatively, if I left the unit as is, or added a bedroom for a much smaller cost by removing the dining room, I could rent the entire unit out on a short or medium term basis, for at or above the monthly cost, then look for a separate house hack with a bath already installed. Many thanks in advance!

Hello everyone,

I am pretty new to the real investing. I currently live in Houston, TX and I find it very difficult for new investors without a big capital to find a good deal.

I am considering Pittsburgh, PA to start. Any tips , recommendations would be very appreciated. How is the market? Is it a good place to invest in multi family?

Hello BP community, I'm currently in the process of searching for a full duplex within a 30-minute commute to Orlando Downtown, with a budget of $400K. Despite setting up alerts on Zillow, Redfin, and realtor.com, as well as utilizing alerts through realtors, I am consistently facing challenges in finding suitable deals. 

I am seeking insights and recommendations from the community regarding potential locations in and around Orlando where full duplexes might be more readily available within my budget.

My plan is to house hack, and based on my initial calculations, I anticipate an extra expense of $1.5K beyond rental income to cover the mortgage. I am interested in knowing if this strategy remains viable in 2024. If not, what alternative strategies would you recommend?