All Forum Posts by: David Parathundil

I paid for the market access to Kissimmee on AirDNA and got the number of 40k NOI by inputting all the standard rates for taxes and insurance and whatnot. AirDNA ran the numbers and got it so idk exactly how they got it. Their daily rental rate was $220 when it is $150-200 for this type of property.

When doing calculations on a STR airbnb in Kissimmee, on a 4/3 townhome with nice amenities and a pool the property produces negative cashflow. On airdna the property makes 40k in NOI bc they inflate the daily rent. I am wondering how are investors in Kissimmee making money?

I even ran numbers on a 300k house which has less amenities and no pool but still does not cashflow. Even on the properties that cashflow the spread is so small it would be better to take my capital and invest it elsewhere. How are you making deals work in Kissimmee?

If anyone is able to run numbers on this property, and show me what I am doing wrong I would appreciate very much.

On AirDNA the numbers are NOI: 34,814 Cap:9.46 65% occupancy and it is 18 minutes away from Disney

My own numbers showed negative cashflow and basically show that any property off the MLS in Kissimmee will not produce income. This is the property address.

4449 Le Reve Ct, Kissimmee, FL 34746

im in the miami area and would love to connect

I did the same thing as an 18 year old I put all my money into my Roth IRA, now I have 24k sitting there on which I can take out the 6k in profit tax free but it would've been put to much better use towards a property. To do the self directed IRA method (I could be wrong) but my lender told me that you have to use only funds from there for the downpayment so I'm doubting as young as you are have enough in there for a whole downpayment. Read my other reply to a post it contains useful information for recent college graduates.

My advice would be read books, listen to podcasts on the material as much as possible. But first and foremost network!!! If I had started networking the way I do now at 18 I would be more successful. Just talk to as many people as you can involved in real estate, whether on the forums or through your own circle.

I want to clarify some things before I answer. The credit karma loan would be for the property and would be completely separate than the FHA loan right? People are jumping on you for trying to qualify for a loan with another loan which most lenders will not approve. Did you mean taking the personal loan for the downpayment of the FHA or personal loan to pay for the whole property?

I am also 20 years old and am on the right track to get my first property this year. My advice is save up as much money as you can while you're in college. After college find a full-time job within 6 months of graduating and all you need is 30 days of paystubs to qualify for an FHA loan. The two years of income verification and tax returns are skipped due to the fact school will count as work history. I feel like this is not well known, when I talked to my lender about it I was very happy to learn I could qualify without the 2 years of work history.

If you want the single family home bad enough find a hard money lender and BRRR the property but with a short term rental strategy instead of a normal long term. This way you can get your hard money lender's money out of the deal, this is risky as hard money lenders charge points and have high interest rates.

I would say, your actions must align with your values. If your model is buy and hold, stick to that strategy. You spent a year and a half looking for that deal and putting in the work to find that deal. If your market is truly that hot that triplex will appreciate even more as you buy and hold it. Then you'll be able to refinance your money out of the deal while still holding onto the asset instead of simply chasing 70k in profit in the short term. 

Hey Griffin, I am interested in this role. I am a realtor in South Florida but planning to move very soon and Jacksonville is in my list of cities.

Hey Natalie, welcome to BP! You'll definitely find a community of supportive people and find the resources you need to succeed in your real estate journey.

My mom owns and runs a grouphome in Florida so I would like to hear more about this.