All Forum Posts by: Frank Borzen

I have been on both sides of this (although not as excessive). Let me ask you this: if the contractor was short on material due to his mistakes, would you expect to pay for the extra necessary material? In my experience the answer is generally no.

I think it's a fair conversation to have with your contractor, but I would go about it in as kind a way as possible, especially if you are happy with the work and want him to work for you in the future.

In terms of Key West, you would need a transient rental license. Here in the Keys you have a 30-35 week rental season. In KW you would need to be in an old town conch home, and a million gets you 2-3 bedrooms. Maybe $250-300 per night. The numbers don't really make sense.

You can go up to Marathon where there is an airport, Publix, movie theater, etc and get on the water for 500-700k and have the same rental returns. We have had a lot of success, but also purchased years ago.

@Chase Keller I didn't read through all the responses, but here is what I have learned over the last 20 years:

Don't put amazing/expensive things in your home. Get the big TV, but the off brand. Home Goods and Costco sell great art work. If you really like something, screw it into the wall.

We learned a long time ago that discounted (mostly last minute) rentals usually bring in the trashy people (here in South Florida). The money was not worth the headache.

I wish you luck in the Disney area. We looked hard there a year ago. Which neighborhoods are you considering? 

In my opinion Emerald Island is in a tough spot. They always compared themselves to Windsor Hills. Well, Windsor Hills just spent a ton of money upgrading their pool area. Emerald Island does not have the space to do it. So now it gets left further behind.

Aside from a great location, Emerald Island offers limited amenities and aging homes. I didn't see even the larger homes grossing more than 40k per year.

Instead of a manager you can find a trustworthy handy man/crew. The HOA and utility fees are hard to escape.

Themed bedrooms and updated decor are a big deal in the 34747 zip code. Maybe spy on the decor at out Encore or Windsor Westside to separate yourself from other rentals.

Iguanas and scorpions are the usual

Crabs, shrimp, fish after Wilma/Irma

Florida Keys

I have only read the first page of this thread (started 5-6 days ago), but I am shocked at the people who are not recognizing that this is an unprecedented nationwide event. I canceled my own family vacation and received a vrbo refund, no questions asked. We had multiple cancellations in our own vacation rentals, and we processed refunds, no questions asked.

I was happy to see the positive nature on both sides. The "as soon as this is over we will be back" from both owners and renters.

We have this in the Keys. Three separate four bedroom rentals, a eight bedroom side by side, or 12 bedroom tic tac toe. The only negative is that when you get the really big groups they can be more destructive. The main positive is that we are able to offer the number of beds/baths "essentially" under one roof.

We looked hard in the Kissimmee area. Tons and tons and tons of new construction, and you are fighting massive quantities of discount hotels. The numbers just didn't make sense, especially with high HOA fees.

@Avery Carl I know it's a loaded question, but what is the "correct" price range for a 5 bedroom home? They seem to be all over the place.

We have been casually looking at 2br cabins in the Sevierville area for the last year. Although prices seems to have significantly risen, we are still considering a purchase.

I listened to Avery's podcast where she said she wished she had purchased one 5br instead of two 2brs.

My question is, do the 4/5/6br homes still average about 20k annual income per bedroom? Any negatives besides the additional wear and tear? Prices on the larger homes seem to be all over the place.

We are experienced with self managing vacation rentals in Florida.