All Forum Posts by: Bryan Keller

Will do that. No numbers I’ll back out. Thanks guys!

I know it's been asked a million times but I need your opinions .

I'm in North Palm Beach, I put an offer on a gorgeous house with 3 beds and 1 bath with a pool. The owner claims it pulls 9k a month during the season. I live in the area so that sounds about right.

However, the property is already on Airbnb and when I looked at the statistics i found the exact home! it said that it pulled 40k a year 42% occupancy which is not good for my numbers... I’m very concerned because my offer was accepted…

A different website says this address should bring 80k a year and 62% occupation .

Im trying to do the enemy method but it's low season in Florida and most of the properties are vacant right now.

Should I ask the owner for proof of income?

Should I pull out of the offer? 

Thank you guys for your response, definitely sounds like some serious red flags for me. I hope my friends will be ok but based on your input I don't think it's the right investment for me. 

https://www.bizjournals.com/so...

2 of my friends just invested, one in a studio for 540k and one friend invested in a one bedroom apt for 1 mill.

Studio apartments now starts at 650k. They're asking for 10 precent at the time of signing, again after 6 months, one year and 2 years. 

Building will be completed by 2028 (might be longer), nightly rate with airbnb could be between 350-450$ for a studio apt, I know with this money I could buy 2 SFH somewhere else in FL. Your thoughts?

 and how much does a coverage like this should cost monthly?

Anyone invested in Naples, FL? 

I like this area and thinking of gettin a second/vacation home that I could also Airbnb while I'm not there.

My only concerns are: I know this is an area with a high average rate of damage from hurricanes, how does this manifest itself in terms of insurance? How much the insurance cost would be for a good cover?

And even if the insurance company covers everything for me, it takes me time to renovate the house so that there will be no income... 

I know that the Fort Lauderdale area, for example, has less hurricane damage and it's also an area that I really like... 

Your thoughts ?