All Forum Posts by: Felicia Lucco

Replace it. Good tenants are hard to find. 

I am purchasing in Orlando, as that is less likely to be hit by a hurricane than either coast. So yes, it was a consideration. 

Kim, be sure to check with the town re their STR regulations. If they don't have any in place, but implement them down the road, it sounds like you could easily use this space for a medium term rental (few months at a time), especially near a hospital.

I'm jumping on this, too. Thanks, Tom! Currently living across the river in P'Burg and investing in a STR in the Disney market. A multi is of interest, as well. (NOT in NJ!)

Are you HIRING VAs?

For those who said there's no credit check, that is not correct. I am currently obtaining a DSCR loan for a short-term rental. The reason I went with this is because I am self-employed and have no W2 income verification. DSCR loans were created for that purpose. My tax returns will show a drop in income over the past two years; however, I have cash for a down payment and closing. 

A DSCR loan takes into account the potential income of the property itself. HOWEVER, they still look at your credit history and score. And yes, the interest rate is higher than a traditional loan and I must put 20% down.

Thanks to everyone for your tips and insights. I feel better about this now. I don't really expect that vacationers would spend a lot of time in the condo, but I will eventually add seating to accommodate. 

I am under contract for a townhome in the Disney area, investing from out of state. This is a 4-bedroom unit, although on the smaller side. From the pictures, I see a small dining table that seats four plus two stools at the counter. Just curious... Does anyone else have this type of situation and have your guests complained or voiced concern re the lack of seating? 

I understand this unit did very well because of it's proximity to the parks, but I want to ensure the guests' comfort, as well.

Nice house, @Ryan! Just curious how you go about finding someone to theme a room. I'm sure this is very specialized and not just any designer.  @Alice Horn, would you also have some insight on this? Any tips appreciated.