All Forum Posts by: Clinton Cox

Thanks. I had not heard of these. They are better priced than the local companies it seems. Appreciate the help!

Looking for a management company for a STR rental home in the Black Hills of South Dakota near Lake Pactola beginning next season. The companies I've talked to so far charge an outrageous fee. Looking for a good company that doesn't change an arm and a leg! Any help is appreciated.

Thanks! 

Clint.

Thank you so much everyone for the great advice.  Apologies for the late response, I'm just now getting back from my extended holiday break with the family.  

So, it seems the consensus opinion is to keep the house in FL and rent it out -- which is what I've decided to do as well. It's tempting to sell and cash out, but I see great long-term value in keeping an asset in a high-appreciation market like Miami and in a new and strong neighborhood with great schools, shopping, hospitals, military, recreation and employment centers nearby -- and all with a low-interest note on the property!  Also, something I didn't mention in my OP is I have family nearby in FL who will help me manage the property remotely, so that factors into my decision as well.  Also, my career experience is in mostly extended-stay hotel management, so I know a thing or two about property and asset management.  I plan to rent a low-cost apartment in SD for six months until I can find house hack opportunity up there.  Not in a huge hurry -- I want to find a good deal.

Again -- thanks for all the great feedback.  This group is such a great forum and resource and I'm glad to be part of the BiggerPockets family going forward. 

Happy New Year!!!

Hi everyone! I'm new to the group and new to real-estate investing. I've been researching the better part of the last year and getting ready to make a move soon. My goal is to build a portfolio of rental properties and eventually even hotels. I've been in the hotel business for 17 years helping others build wealth and now I want to get in the game! I recently accepted an offer for a new job, which requires a relocation from Miami to South Dakota! I currently own my house (this was my first home purchase). I have an FHA mortgage with a nice interest rate of 3.125%. I've owned the single-family home for about three years now (it's also three years old, as I bought it as a new-construction home). I have about $200,000 in equity in the home already (95% through appreciation). Should I sell it and use the equity to begin buying rental properties? Or should I hold onto the home and rent it out as my first rental home? I realize that to answer this question specifically depends on many variables. However, in general for those of you out there who have been doing this a while what do you think? From my research I believe the property can cash-flow $200 to $400 per month after all expenses, mortgage and vacancy, CapEx, maintenance. Lastly, the home is not near the beach -- it's in a suburb and STRs aren't allowed so if I keep it, it will be long-term rental only.

Thanks all!  Either way I'm excited about the potential; and this job change has given me a chance to get started in my real-estate career a bit sooner than I anticipated!