All Forum Posts by: Elizabeth Conklin

 Just adding to this thread.  I purchased land and built a place in Las Galeras, Samana which is an up and coming spot on the Northwest coast.  We just got it online in March and have had pretty consistent rentals, but are doing more direct booking than with Air B&B (through networks).  We bought land with an ocean view, built and furnished for a total investment of about US$300,000.  Properties in the area appraise for US$450-800k depending on the location.  

I have lots of friends who have bought apartments in PCana in the development stage and then sold when finished (flipping).  Also know very credible property managers there.  Happy to connect folks that are interested or serve as a resource.

This may be a long shot but wondering if there are folks that have an STR/MTR in Sarasota, Marco, Island, Ft Myers, Bonita Springs or Estero to rent. 2 bedrooms/2 bathrooms needed--have been looking for my parents but not finding options. Are there other sites I should be looking besides the typical Furnish Finder, VRBO, Air B&B?

Thanks!

Elizabeth

I have an investment property which I have been using for a combination of STRs and a seasonal MTR for the ski season.  What platforms do you find most useful to attract different MTR audiences?  I know Furnish Finder specializes on travel nurses but how about other populations (seasonal workers, families for a ski season, insurance, etc)?  

Do people use Air DNA for market research or other tools?

Thanks!

Elizabeth

I am hopeful that this question is not too basic. :) I have one rental property and wanting an LLC to manage expenses (avoid co mingling) and set up a more professional business structure for future purposes. Questions-

-Is this wise? My CPA has advised that there is no tax advantage (I won't be transferring the property to the LLC) and that the income I run through the LLC related to the property may then be subject to additional taxation. Is this correct?

-What is the most cost effective way to establish an LLC?

-Should the LLC be established in the State where I own the property (and future properties)?

THANK YOU!!

Elizabeth

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $260,000
Cash invested: $260,000

New build-STR facing the beautiful Samana bay in the Dominican Republic. Coming online April 2023.

What made you interested in investing in this type of deal?

This property allows me to spend time in my favorite place (beach, Dominican Republic) while cash flowing with visiting tourists to our STR.

How did you find this deal and how did you negotiate it?

We found a great plot of land overlooking the beach and partnered to purchase and build 2 houses.

How did you finance this deal?

Leveraged HELOC on our primary residence (which is also a STR)

How did you add value to the deal?

Land was undervalued -will appreciate 100k above investment due to location and growth of tourism in the area.

What was the outcome?

Will open for rentals in April.

Lessons learned? Challenges?

Importance of having a solid lawyer for investments overseas
Construction materials fluctuate-important to build in cushion

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes-DM for detalls if interested

 Hi Joshua-  I am now living in the Dominican Republic and would be happy to serve as a resource if you are still interested in looking at properties.  Two of my close friends just purchased apartments in downtown Punta Cana (which are under construction) and we just built in another beach town called Samana.  There are lots of rental management companies, and finding a good cleaner and support person is possible.  I know lots of people who have had great success with their STRs.  Feel free to DM me and we can connect.  

 Thanks Eric! I will look for that podcast.