All Forum Posts by: Sean Harris

I've looked on meetup and can't seem to find anything. I'm from the central coast of California and was wondering if there was another way to find local mastermind groups in my area.

Thanks for the info I will for sure check into those other areas. Seems like the consensus still stands that Daytona Beach proper isn't the best place to invest in. I'm just wanting to find some good deals semi close to family so when we go visit I could see the properties and speak in person with PMs and realtors. Thank you

So I recently started looking at properties in the Daytona beach area mainly because I have family that is moving there from California. They bought a house in Margaritaville to live in long term. I keep reading some pretty bad posts on here from other members about how horrible and sketchy Daytona Beach is and how out of state investors will get smoked there. I have read that the further south you go the better, such as Port Orange area. Are there any other investors here that could chime in as to which areas are better than others and what areas to stay away from entirely? I want to buy 10 single family homes in the next 5 years using the BRRRR strategy because I am thinking that this will be the best way for us to keep aquiring properties without running out of capital. I'm shooting for properties under 200k at the moment. I am open to other areas near Daytona that I could drive too as well.

Haha yea I am going to ask him if he has all that written down, thanks for all the feedback folks

I'm an overanalyzer so this is what my brain is doing right now. "I just bought this house and now what am I supposed to do with it now?" Haha let's just assume it's rent ready with no repairs needed and I have a complete crew to keep it up. Now all I would do is write a great listing with good details across all the booking platforms and make it live. I have also heard tricks about when you first get the property to list it as like $4000 a night so that nobody books it and you can get everything in order so it's perfect when you get your first booking. I've talked with friends doing this and they said make sure you never cancel on anyone because you can get blacklisted from Airbnb and other platforms if it happens alot and to use you DD to.e to fine tune everything. As far as the reviews, I'm not sure because I can't find the property on any platform. I'm thinking this is because they are selling it and don't want to have to have cancelations and confusion during the selling process. There are two houses in the same general area tho that look similar to this one with all positive reviews

So I'm about to purchase my first ever STR in Florida very close to the Disneyworld park and all the other theme parks there. I was basically given the opportunity from a family friend that was using it as an Airbnb property so it's fully furnished and set up for it. My question is what are my next steps exactly? Are there videos I can watch or some reading material that can break down how to get my processes in line so that once I take it over I can get the listing live and start bookings? The current owner says if I purchase it he will give me all the contacts and information with the property like the cleaning crews etc. Thanks

Thanks for the reply Aj that makes sense. As far as buying the property goes, knowing this will be an all cash offer I understand you will most likely wave all contingencys such as an appraisal, inspection ect. But before you place an offer on a house is it a typical practice to have a contractor go in and give you a bid on the rehab cost or after you secure the property? Seems like it would be wise to get an estimate on the rehab before purchasing so you could get close to that 75% of the ARV to pull your capital out. Thoughts?

Looking to do my first out if state BRRRR in the next month. I was just wondering if the 1% rule still applies to a BRRRR deal? I understand I will be buying the property cash and then fixing it up to then refi and cash out. Example, I buy a property for 60k put 30k into it and have it be worth 120k but when I go to refi the deal and get a mortgage in 120k in my market that house will not rent for $1200 a month ( 1% ). Can someone please explain this to me? Thank you

Just put an offer on a duplex in Ohio and my realtor asked if I wanted to add ernest money. Is that normal on a deal under 200k? Or does my bid plus ernest money make a more solid bid? Also does the ernest money get wrapped into the bid? Say I offer 180k, would that really mean 170k plus the 10k ernest money. Confused and need help, thanks

Sorry for the delayed response LaTaja but thank you for the info I will have to look more I to that. I thought I heard there was something about not being able to transfer the water/sewer over also but that is a great idea to try and gain the money back through the rent. Thanks again