All Forum Posts by: Erica Muller

View full profile with income/expenses/investment analyzer here: https://www.vrolio.com/propertydetails/514

Asking Price: $460,000
5 bed 4 bath

Property is located in the Branson Canyon community a few miles south of Branson. It was built in 2009 to be a vacation rental, is zoned correctly, and has the proper documentation. The quick info on the house: 5 bedrooms 4 bathrooms Approx. 2786 sq. ft. on 3 levels Redecorated 2018 Operating costs average roughly $18k/yr Gross revenue average of $65k/yr Average of approx. 175 nights rented each year Summer rate of $3450/wk Everything included except the linens. Includes license for the marketing images: 
View full profile with income/expenses/investment analyzer here: https://www.vrolio.com/propertydetails/514

@Brent Zande Also you may want to look into nightly policies in addition to that. Property Protect offers those. I'm sure there are others that do as well. It's around $4 a night. 

@Luke Carl They're working on a project here in Kissimmee also. I'm honestly surprised it took them this long to jump into the scene. Pulte, Lennar and many other builders have been building STR purpose-built homes and communities in this area for almost a decade. They make great investments if you buy them as resales. Airbnb is late to the game but glad to see them jumping in and providing value to the STR real estate industry! I'm curious to see what their sales model will look like.

Question regarding VA loans. I've never dealt with one before because I work mainly with investors but I am flipping a house I rehabbed and the buyer is getting a VA loan. Here is the issue that I am unfamiliar with, the buyer is requesting a $5000 credit due to the fact that the house (which was built in 1991) was piped with polybutylene pipes. They are saying that most insurance companies won't insure a house with this type of piping and that VA will have issues with it. This sounds a bit extreme to me. Is this accurate or are they just reaching at straws here to get a discount on the home? Other homes in the neighborhood have seemed to have closed just fine and they are all built the same way.

Yes I have three lenders that have financed dozens of my clients for vacation rentals. They have specific loan programs for this. 

Their typical requirements are: 

30-40% down

There are minimum loan amount (all three have different ones)

You cannot have more than four mortgages already in your personal name 

That being said they lend here in Florida but I am not sure where else they can lend. 

@Alex Boyce They do but they're not easy to find. There are some triplexes and and quads in Lake county also in seminole county. I don't find too many in Orange county. 

@Ahmed Souissi I have five properties that I just got in on Friday but I still have to go out and look at them to see how much rehab work (if any) each needs and then I will be sending them out to my investors. I can add you to my list if you'd like. Just shoot me a direct message. If you're looking for multifamily, I do have one really nice off market property in GA that I was looking into buying for myself but not sure if I can buy it or not yet. I am happy to send your way as well to take a look at. That one has a 10 cap. 

@Mike Cowper If you're still in town shoot me a message! Would love to meet you and discuss investment properties. 

@Jay S. Sounds like Valentina is a great place to start!! You're going to need a strong marketing strategy if you plan on doing all of the bookings yourself. Also, where you buy will make or break this investment. Some communities are much more competitive than others. That will be the biggest factor in all of this as not everything zoned for short term rental is profitable.  

@Jean-Thierry Aleman everyone is going to have somewhat of a different opinion but you can find deals here if you have the right contacts. Anything already listed on MLS is going to be priced way too high for you to do anything with. Everything I buy personally comes from loan servicing companies and there is no middle man so I get properties at a great price however even those are not what they used to be.