All Forum Posts by: Brian Kragerud

@Jackson Risse your graph tells half the story and you did include those higher interest rates so here is the graph to compare with yours, this Fred graph shows the inverse with interest rates falling since 1980 as house prices rise. Cant have both high interest rate and high prices something gives. Yes, seems funny that 7% is high but considering house prices and wages lagging behind all other high costs there is no wonder why housing is not affordable to the average wage earner.

Just using your numbers, CoC=NOI/Total invested I get 12.5 not 33. I calculate 1320 mortgage pmt. I calculate more like 8% CoC. In subtraction, expenses for platform fees, capex/maintenance/supplies and 6 months reserves. Other factors are HOA restrictions and non warrantable loan and credit score. In addition, yours 145$ ADR source might include cleaning fees if taken from airdna. The DSCR ratio is below loan standards of >1.0. So to answer your question, with not ocean front, and a minimum of CoC of 20%, I would offer 125k with all those repairs and nowadays for contractors and rehab time costs, and uncertain times with ocean front competition, this is a NO deal for me. Keep looking.

I bought both the Zinus Foam GT for personal use and the Zinus medium firm with a pillow top and both are way to firm for my back and side sleeper. Had to put a 3" foam topper to be comfortable. I thought to buy first hand and try b4 subjecting guests to a bad experience and bad reviews. I'm guessing it's a personal preference for firm over soft as I prefer a firm base and soft top and these Zinus are just too firm for the great price. Its not just me, my fiance had the same complaints. So I am still on the look for the right mattress and will just donate these to goodwill as Amazon will not return but did credit back the price on the first mattress.

Now it’s a party🥳

Good to know when analyzing my expenses on properties of size. I figured from what I get from others posting and or commenting on podcasts the insurance costing and coverage problems in Florida. I did hear they should get better in 2023 as this is a big topic at higher levels that's got attention to resolve. Insurance companies should be able to provide owners some outlook of what they are hearing and planning for 2023.

Thank you for the information.

@Kerry Baird Are your STRs located beachfront (Condos) and what can you share are your challenges and costs for (ALL) insurances required including supplemental specific to your STR properties and best insurance agencies for Florida. I can search and find topics on this subject but things seem to change with conditions and regulations, such as insurance pools granted yearly for agencies, renewals vs. new purchase, property conditions (roofs), flood zones, and you know better than I.

David Green on BiggerPockets is buying in the Smokies, https://www.the1brokerage.com/ I here they are a good source for funding STR. I will be contacting them for funding soon.