All Forum Posts by: David C.

The first thing I question is "Inside a resort". Does that mean they are managed, where you have all sorts of HOA / Management fees? That might be concerning... often you don't really know how that is going to look until you are into it. So being "into it" twice (all at once) might double your surprises. It might make more sense to buy in, see how it goes, then buy in again.

I'm not a fan of overhead fees (property managers, HOA's, etc.) They eat away at your profit, and they often control what you can and can't do with your property (depending on what type of property you are buying into).

Also, know your exit strategy. If you want to sell your property, how does the management company / HOA affect your planned strategy.

The only other thought is "As one goes, so does the other"... so if something goes sideways (They raise their fees, there is a covid outbreak and tourism tanks again, etc), you are in for twice the trouble you might be in if you were buying in two different areas.

Wish you all the best!

Randy

I’m reluctant to but I have to agree with your input above….

1 Vote

Orlando, Florida

Quote from @Bruce Woodruff:

As long as they produce a good ROI, why would it matter? Are they in an HOA?

Yes they are in a HOA. Was wondering if I should buy both or just go for a larger home…. However it seem that buying both and putting some work may yield more revenue than buy 1 larger property.

0 Votes

Orlando, Florida

Hi,

I am looking to buy 2 STR inside a resort that sits side by side next to each other with more or less the same specs.

Any pros here can give me some pros or cons on doing that or why I shouldn't purchase 2 properties sitting side by side?

Thanks,

David

0 Votes

Orlando, Florida

Quote from @John Underwood:

Cash Flow 100k? Maybe you mean gross 100k?

I don't know of any place with a mortgage that will cash flow 100k, but I'd like some of these to if you find any.

The more a place will Gross the more expensive it and then the higher the mortgage payment is.

I think some STR properties out there can do it however I could be wrong. Just checking if anyone has experience or know.

0 Votes

Orlando, Florida

Quote from @Joshua Strickland:

Strategy - self manage

Location - any vacation destination (for the most part)

Price point to gross $100k - $800k+
Price point to NET $100k if only putting 20% down - $2M+ probably

Thank you for your feedback. I was thinking it’ll be north of 2M minimum. Thx

0 Votes

Orlando, Florida

Hi,

Need to get some pro advices on what kind of STR/strategy and where in FL (near Disnney or beach) that can cashflow 100k+ after mortgage(20% down) and all expense. Where? What price point of a property would more or less fit that criteria?

much appreciate.

David

0 Votes

Orlando, Florida

@Julie Hartman - Thank you for your feedback. I am not familiar with landlord/tenant laws however the reason why I want to manage most of it myself is to learn the ins and outs but I am aware that is also risky to do.

0 Votes

Hi,

I purchased a new construction home as my first rental property and have a closing date of 12/28. I live 1000 miles away from this new construction rental. I have a couple of questions and would appreciate if anyone can chime in.

1. Would you recommend I go with a full-blown property manager or I can semi manage it myself and just have a handy man on call when needed given that it is new construction.

2. Should I get a realtor or begin posting the property up for rent now? again the closing date is a few weeks from now. Any drawbacks?

3. Any online platform you would recommend for rental owners to manage and collect rent through tenant portals, open maintenance tickets etc.. etc..

Any advice or feedback is appreciated.

Thanks

David

0 Votes

All Forum Posts by: David C.

David C. has started 6 posts and replied 18 times.

Post: 2 x STR property (side by side)

Post: 2 x STR property (side by side)

Post: 2 x STR property (side by side)

Post: Looking for STR in FL

Post: Looking for STR in FL

Post: Looking for STR in FL

Post: New construction Rental (Newbie)

Post: New construction Rental (Newbie)