All Forum Posts by: Gernide J Antoine

and also like what I do 

• Utilize as STRs: You furnish and list these properties as short-term rentals (STRs) on platforms like Booking.com or Airbnb.
• Generate Cash Flow: The higher rental income from STRs, compared to long-term rentals, allows you to cover your mortgage/lease payments, generate positive cash flow, and potentially have funds left over for further investments.
• Positive Cash Flow: STRs often generate higher rental income than long-term rentals, allowing you to cover your costs and potentially profit.Tax Advantages: You can often deduct expenses related to your STR business, such as mortgage interest, property taxes, and maintenance costs.🙂

Hope this help good luck on your investment journey 

Hi Nate,

Congrats on your third deal and finding your permanent home! It's awesome that you're looking to stay in the real estate game while minimizing risk. Here's a breakdown of strategies you can consider:

1. House Hacking with a Twist

• Rent out rooms: Even though you're living in the property, you can still generate income by renting out spare bedrooms. This can help offset your mortgage payment and potentially even create positive cash flow.    
• Consider an accessory dwelling unit (ADU): If your property allows for it, building an ADU (like a small apartment or guest house) can provide a separate rental unit while you live in the main house.

2. Invest in a Rental Property

• Use your equity: You could leverage the equity in your current home to purchase a rental property. With $100k in equity, you might be able to secure financing for a smaller rental property without significantly increasing your housing payment.    
• Look for properties with positive cash flow: Focus on finding properties where the rental income covers the mortgage payment, taxes, insurance, and other expenses, leaving you with positive cash flow each month.

3. Explore Wholesaling

• No need to own or live in the property: Wholesaling involves finding deeply discounted properties and assigning the contract to another buyer for a fee. You don't need to use your own capital or credit.
• Lower risk: Since you're not buying the property yourself, you're not taking on the risks associated with ownership, like vacancies or repairs.

4. Partner with Other Investors

• Pool resources: Partnering with other investors allows you to combine your capital and expertise to invest in larger or more complex deals that you might not be able to do on your own.    
• Shared risk: By sharing the investment, you also share the risk.

5. Focus on Education and Networking

• Build your knowledge: Continue learning about different real estate investing strategies and market trends to make informed decisions.
• Connect with other investors: Network with experienced investors in your area to gain insights and potentially find partnership opportunities.    

Risk Mitigation Strategies

• Thorough due diligence: Always conduct thorough due diligence on any property before investing, including inspections, appraisals, and market analysis.    
• Conservative financing: Avoid over-leveraging yourself. Opt for loan terms and interest rates that you can comfortably manage.
• Build reserves: Set aside cash reserves to cover unexpected expenses, like vacancies or repairs.
• Consult with professionals: Seek advice from real estate agents, lenders, attorneys, and tax professionals to ensure you're making informed decisions.

Remember, there's no one-size-fits-all answer. The best approach for you will depend on your specific financial situation, risk tolerance, and investment goals.

I hope this helps! Feel free to reach out if you have any other questions.

Best

Gernide 

Hi nice to meet you and thank a bunch this  information is so helpful i have yet to close my first wholesale contract need guidance 

@Mindy Nicol @Mindy Nicol Good morning thank you where should i message you.

@Traci Platone 

Good morning Traci,

Welcome! It's great to connect with you.

I'm definitely open to working as a team! I'm currently focused on expanding my portfolio of leased properties for short-term rentals. I'm looking for a skilled sales rep who can help me connect with landlords in Florida (especially the Palm Bay area) and Georgia.

If you're interested in collaborating, I'd love to chat more about how we can work together and what your experience is in real estate sales and landlord outreach.

Let's connect soon!

GeGe

Hi Traci,

Absolutely! I'm happy to share some tips about purchasing an STR in a different state.

I joined Stayly Academy, which helped me secure a lease property under my business name and utilize it for short-term rentals. So now I have both my personal residence and a leased property as STRs.

Even though I live 3 hours away from my leased STR property, I've built a team that assists with managing it, so I don't have to be there all the time.

Here are some key things I've learned:

• Regulations: Research the specific STR regulations in the state and city where you're looking to buy. Rules vary significantly, and you need to be aware of licensing, taxes, and any restrictions.
• Local Market: Analyze the STR market in your target area. Look at occupancy rates, average daily rates, and competition to understand the potential for success.
• Property Management: Consider how you'll manage the property remotely. You might hire a property manager, use a co-hosting service, or build your own team (like I did!).
• Financing: Explore financing options for out-of-state investment properties. Some lenders specialize in this area.
• Legal and Tax Implications: Consult with a real estate attorney and tax professional to understand the legal and tax implications of owning an STR in a different state.

I'm happy to answer any specific questions you have about my experience. Feel free to ask away!

GeGe

Good morning! I'm ecstatic to have just secured a fantastic new short-term rental property and I'm eager to collaborate with experts to transform it into a stunning haven. Specifically, I'm seeking talented handymen to work their magic on light cosmetic enhancements and an ingenious stage designer to infuse the space with their creativity. As I reside in Palm Bay, Florida, approximately three hours away from the property in Jacksonville, Florida, I'd be forever grateful for any recommendations for local professionals who can bring my vision to life.

Hey everyone,

Love this topic! I'm in the same boat as Gary with STR properties. I have two: one is my primary residence that I also use as an STR, and the other is a leased rental property that I manage remotely.

Since I'm out of town, I'm finding it challenging to manage things like finding a reliable handyman and getting help with staging. I do have a co-host, but they're not able to provide much assistance in these areas.

Any advice or recommendations for finding reliable handyman services and staging help for out-of-town STR owners?

Thanks! GeGe

Hi great covo just by reading I'm on Marcus opinion cause it true don't put your basket into one investment me and my spouse own 2 ATM machine and also ice machine and place them in store and shopping plaza so now After buying our home through personal W2 we now want to invest in Real estate, wholesale and BRRR.

Hi BP community, 

Property Management Expansion: I will expand my property management business to generate more monthly income? and it would require in terms of investment and resources?