All Forum Posts by: Eldin Kalic

Avail seems to be the best I've found.  I used Cozy but the move to apartments.com sucks.  

as for the $55 app fee, I market it as,

"The $55 application fee will be returned to you via first month's rent" 

this promotes that only a tenant who believes they qualify per your rental qualifying standards will apply. 

@Patrick M.

Hi Patrick, no I didn't see that article. I'll definitely give it a read! Thanks!

I've been research and strongly considering investing in a STR in a major market with significant tourist attraction like Miami/South Beach. I've gone through the data on AirDNA, MashVisor, etc. and the data points to the less common markets such as Nashville, UpState New York instead of major markets like South Beach.

I'm looking for insight from all current BP STR investors that are managing these rentals in the major markets. What is your occupancy rate? Do you find your market to be over-saturated with AirBnB rentals? Any and all advice or experiences is welcome!

Hi all,

I'm looking to invest in a property in Florida.  I'm doing my research on which areas to target where I wont have much difficulty finding tenants, AirBnb's, etc.   I haven't honed in a specific city yet but I wanted to see what some of you experienced Florida investors think.  What is the ideal area to target?  Coast side or Gulf Side?  

On the Gulf side I was looking into Clearwater, and Sarasota.  Coast side: Panama City, Fort Lauderdale, Daytona, Fort Meyers.

Any and all helpful insight is welcome!  Thanks!

Colton Cook Hey Colton! Yes, I would love to get your insight on operating procedures! That would actually be tremendously helpful. I have requested to connect with you; I can't send you a PM otherwise.

Ruth, that might be one of the most favorable situations one person could find themselves in when looking to break into RE investing. Unfortunately, at the moment I don't have that luxury which is why I'll need to go about it differently and build a business plan. Brian, I'm creating a business plan to map out my investment business. It's like taking a road trip from the West Coast to the East coast. One doesn't just get in their car and drive in a general direction. You use a map or smartphone or GPS to get there. So essentially that's the ideology here. I want to map out my entire action plan to ensure all details are covered and accounted for. Once I have this completed, I will take action. And, yes it may come in handy down the road if I'd like to partner with someone on a REIT, obtain additional financing/lending for a larger multi-unit/complex project which I do not have the capital for yet. All in all, it's very beneficial to have one. I like to be thorough to ensure I minimize my risk as much as possible and have a clear road map from start to finish.

Hi,

I am in the process of writing my business plan for my real estate flipping business.  Would anyone care to share theirs with me just so I can ensure that I'm doing it correctly?  

Thanks for the help.

Hi everyone!

First off all, thanks for taking the time to read my post and a special thank you to all who leave some positive advice and/or suggestions.

Anyways, I've been in the real estate business since May of this year.  Got out of accounting in NYC; absolutely hated the dry, monotonous work. It drove me crazy! But even though, I'm still a newbie, I've immersed myself in the business and I can confidently say I know a great deal about the industry.  I read, listen, study, research anything and everything.  I've actually sold 9 properties since May on the buyer's side, so I'm well ahead of the average.

Let me get to the point here; I've been attending Sherriff Sales for the past 2 months with a strong intention of buying my first investment, probably a flip.  I've prepared, researched, drove by, ran title on a few homes already that I was going to bid on but I got outbid at the auction.

My plan of action before each Sherriff Sale is as follows:

1.) Pull the docket sheet from the County courthouse website.
2.) Scour the listings; eliminating any properties which will be stayed or continued.
3.) Identify properties in areas I wish to hold an investment in.
4.) Run comps on those properties and assign a conservative and reasonable market value to that property.
5.) Drive by all potential properties, and collect as much information about it as possible from plain sight.
6.) For the majority of the properties, I'll estimate a $30K rehab cost to be conservative. (This is where I lack knowledge of how much it will cost me to rehab that particular property because I'm unable to see most of them from the inside)
7.) Calculate net profit after rehab costs, taxes, fees, commissions (3% only bc I have my real estate license). And evaluate whether or not the profit margin is worth it.  I like to keep my profit margin at $30K per house.  That way if there are unforeseen issues, I can cover it and still make a good profit.
8.) If numbers check out, Run Title search.
9.) Show up to auction, bid and hope you win.

Please let me know if I have a well designed plan of action.  Am I missing something?  What is the best way to estimate total rehab costs?  

What advice can you give me that only a seasoned sheriff sale flipper would know?  Tell me about the mistakes you made in the beginning that I can avoid with your insight.

Any and all comments and suggestions are welcome and appreciated.

Thanks for all the help!

---Eldin K

Bethlehem, PA  (Lehigh Valley)

@Jeff Amore,

Yes, let's definitely stay in touch. I'm a firm believer in success by networking. Perhaps there's something both us can bring to each other's table in the near future. 

ill send you a PM. 

I bought J Scotts book on flipping houses and it's exactly what I was looking for. It breaks everything down to detail. Buy it.