All Forum Posts by: Jarod Rotolo

If you're considering STR on your personal home, that means you probably have a home in a great spot - that's half the battle. You could even try it out, and move back in/purchase a new one if it doesn't work out as you'd hoped. Sounds like 2 great options! Let me know if you need any help analyzing properties in the panhandle!

Appreciate the offer, may have to take you up on it.

1 Vote

Quote from @James Dainard:

Quote from @Jarod Rotolo:

Hey everyone, I've recently been able to position myself to consider getting into STRs.

The decision I'm trying to make is, do I:

A) update, furnish, and STR my current home on the panhandle within 10 mins of Pensacola and Navarre beaches, thinking it will cost 20k to update.

OR,

B) start analyzing properties in various markets to purchase a property for STR?

Not sure what the right choice is, how would you make the determination?

Thanks

Hey Jarod,

I'd say stabilize the one that you've got then hop over to a new house with an owner-occupied loan to max out your leverage.

Investing in what you have now will compound to help you out in the long run!

Appreciate the feedback, I think that is ideal!

0 Votes

Quote from @Lyndsay Zwirlein:

Quote from @Jarod Rotolo:

Hey everyone, I've recently been able to position myself to consider getting into STRs.

The decision I'm trying to make is, do I:

A) update, furnish, and STR my current home on the panhandle within 10 mins of Pensacola and Navarre beaches, thinking it will cost 20k to update.

OR,

B) start analyzing properties in various markets to purchase a property for STR?

Not sure what the right choice is, how would you make the determination?

Thanks

What if you STR your primary and buy a new primary with 5% down that could eventually be converted to STR?

This is exactly what I envision doing, trouble is, I don't want to fool myself if this location simply is terrible to do so.

0 Votes

Quote from @Anne M Stenzel:

I have a 2/2 condo on Navarre Beach. Within the last year, SFH STRs in Navarre proper (not walking distance to the beach although a short drive) have exploded. I think that your SFH may be successful if you offer lots of amenities that your competition does not, such a pool, game room, etc.

Amenities, copy. Appreciate the advice!

0 Votes

Quote from @Kenneth Garrett:

@Jarod Rotolo

I have a STR in Miramar Beach and recently moved here from the Chicago area. I live about 10 minutes from Navarre Beach. Like any investment property analyze each option. I prefer to be within walking distance to the beach, but I've seen investors become successful with a short drive.

Good Luck.

Great point; hopefully, as I keep digging, I'll get confident in the analysis...just not there yet.

0 Votes

@John Underwood

Copy that!

6 Votes

@Luke Carl

Luke, I've signed up for the boot camp to make this exact determination as well as buy many units to build something significant. So, that is definitely the eventual plan. Just not confident in my analysis just yet. Ideally, I'd fix up my home, STR it and buy one very soon thereafter.

7 Votes

@John Underwood

John appreciate the advice. I've signed up for the biggerpockets STR bootcamp and have been consuming what I can to learn how to analyze it. My confidence in the calculations isnt there yet, any advice on how to get there?

7 Votes

Hey everyone, I've recently been able to position myself to consider getting into STRs.

The decision I'm trying to make is, do I:

A) update, furnish, and STR my current home on the panhandle within 10 mins of Pensacola and Navarre beaches, thinking it will cost 20k to update.

OR,

B) start analyzing properties in various markets to purchase a property for STR?

Not sure what the right choice is, how would you make the determination?

Thanks

8 Votes

@Clara Tang

Sounds like your likely going to spend a lot of money. Have you considered asking her if instead of charging her late penalties, can you offer to give her $500 to help with moving expenses, will she move out today?

0 Votes

All Forum Posts by: Jarod Rotolo

Jarod Rotolo has started 7 posts and replied 26 times.

Post: STR current home or buy one?

Post: STR current home or buy one?

Post: STR current home or buy one?

Post: STR current home or buy one?

Post: STR current home or buy one?

Post: STR current home or buy one?

Post: STR current home or buy one?

Post: STR current home or buy one?

Post: STR current home or buy one?

Post: Big headache - tenant won't move after lease expired