All Forum Posts by: Shailesh L.

 1. Developer has experience with developing commercial real estate. However he is doing residential doing first time.  Phase 1 is 50 condo units and he already has 15 pre construction bookings (30%).  All condo's have waterview and bayview so I think all can be sold in 3 years due to location. Developer is my friend's friend so we have some connection. My friend trusts him to the core and 100% reliable & trustworthy.

2. They need to sell 35 condos to break even

3. I thought condo HOA will be formed after all the units are sold and then reserve start building out

4. Not sure what is PPM but no such document is given. He has given Broker opinion report

5. I have seen all the calculations as how it will work out

6. I was attracted with 60% return

7. Developer putting $2M (15% of money raised by investors )

8. Timeline seems aggressive. Will need to talk to other builders in the area to get general ideal of timing. 

I have been informed of investor opportunity to invest in New construction condo project.   He wants to raise $20M through investors and remaining $30M will be through bank financing . He is asking each investor to invest $500K and he is promising to give returns at least 60% ($300K) on investment once construction is complete and all condo's are sold. This project  will be completed over 3 years of time.  Developer is currently aquiring land and appraisal of the site is done.  As part of due diligence , what should I be asking to the developer, what are the potential pitfalls and how do I protect my investment ?

Thank you everyone for your reply & recommendations. I am going to check on Google for some reviews & Thumbtack also

I'm in the process of buying a short term rental investment property in Citrus ridge Kissimmee near Disney area. Does anyone have a recommendation for home inspector from the area ?

Thank you @Jefferson Brown.

I was really into buying this specific property in WaW but online google reviews put a pause on it. 

When I look Solterra resort reviews they look great !

I don't know how much faith I should put into online reviews but clearly there is something that ppl really like at Solterra compared to WaW. 
I checked into Pricelabs market dashboard for both properties. 30 day estimated revenue is very close for both properties. With price difference, Solterra is looking for better ROI

sorry I didn't make it clear in my earlier post but this is regarding the short term rental investment in areas around the Disney.

I have two properties that I'm considering for short-term rental investment in Kissimmee or Davenport area. Both of these properties are five bedroom and five bath with splash pool. first property is in solterra resort in Polk county and second property in Windsor at Westside. The property in solterra is almost $70K cheaper than the property in Windsor at West side. I looked at the air DNA website for both properties and the sort of property shows better return on investment. I'm little torn between those two properties Windsor at Westside property is very close to Disney and lots of restaurants around the area Walmart publics and 192 highway but also expensive and air DNA shows lower occupancy rates.

Does anyone have first hand experience operating in Solterra or Windsor at West side for short term rental investment? Which one you would choose if you have to make a decision?

Hi Derek

Thank you for your reply. I agree there is uptick in rental inventory that putting pressure on rent.  

I have nice single family home in Cedar Falls Iowa. It's built in 2010 & has 4 bed 3 bath 2662 sqft. It's located in very peaceful & quiet neighboorhood. I lived in this house for 4 years & then I converted my primary residence in Cedar Falls Iowa to rental property. 

I kind of did house hacking without knowing the term at the time. I had good luck for last 3 years as first tenant lived there for 2 years & second tenant lived for only 1 year.  Second tenant left the property at end of July 2017. It's been almost 3 months now and I haven't got any tenant inerest in my rental property. There were few showing earlier in August but nothing has worked out.  Below are few actions I have taken to fill the vacancy  , 

1. Advertised the property on Zillow and it's syndicated sites. Also advertised on craigslist.  
2. Started with the rent $2,095 in August but reduced it to $1,890 since then. 
3. I have reached out to local companies HR (Allen hospital, Covenant Hospital & John Deere) to fill out the vacancy but no luck so far. 
4. I held open house last week but no one showed up which I thought was strange.

I am feeling hopeless at this point as what to do. I am thinking of selling the property but I may have to sell it for way less than I bought for and will suffer losses. So I am trying to hold off selling as much as I can. 

Here is the link for my rental listing, 

https://www.zillow.com/homedetails/1122-Amelia-Dr-...

As you see this is very nice house but really having hard time finding tenant. There are lot of rentals in Cedar falls close to the university (Univ of Northern Iowa) but my property is unique newly built (2010) and nothing compares to it. 

Do you have any suggestion what else I can do to fill vacancy ? Thank you for your time & reply, 

Best Regards