All Forum Posts by: Jacob Brenyo

Hey @Cody Z.,

I manage STR's in Central FL.

My fees range from 15%-25% for full service depending on expected revenue.

I will say majority of owners that would qualify for a 25% management fee with me opt to self manage or go LTR due to the fact there isn't any cash flow.

My average fee is 20% for full service. Alternatively, if a client is only looking for marketing and pricing help I charge 10%.

Hope that helps!

 I Agree with Erica. The approach an agent takes can make all of the difference, if the agent is giving you that impression likely he is giving potential prospects that impression as well. 

Honor whatever contract you have with them, but then I would consider a change. you can connect with investor friendly agents right here on BP.

I have confidence you can get out of this property with the right approach. Too bad you aren't in my market or I could really help

 Ok so this would be profitable for a potential investor if you seller financed. I would explore that further. Alternatively you could sell at a loss and stop the bleeding so to speak. Its an ugly thing, but sometimes its best to cut losses and move on. The right agent will be a huge asset here. I would consider hiring someone else to help get this sold. 

 Rate is solid. Whats the expected monthly rent?

Hi Kayla, Sorry you are going through this.

Without context on price point and other factors, it's hard to say definitively what the exact best course is, but I have seen investors off-load properties like this by seller financing. If your interest rate is solid then that's something of value that a potential buyer may want. 

I'd research Lease-Option and Seller Financing to get a better understanding.

I may also consult a different realtor that's local to your market to see how to get this home off your books

There is demand for the services you provide, but as mentioned by others this market is very competitive. I would start by trying to build a relationship with local property managers who would benefit from your services vs other self-managers. Easier to scale in my opinion

25% is definitely high for the Orlando area. I will say if a property manager isn't increasing your revenue and helping decrease costs then self-managing can make a lot of sense. I've found most of my investors want to focus on scaling and are happy to give a portion of the income away to a trusted manager, which makes them free to pursue investing in other opportunities. 

The key part is finding a trusted manager who operates with integrity. Not sure about the ghost fees you dealt with, but I have personally seen owners overcharged for simple tasks so I always recommend that my clients monitor their expense reports and get explanations for charges that aren't adding up. 

A good property manager will more than pay for themselves if you find the right one.

Hi Courtney,

I'm a broker and property manager in Kissimmee/Davenport.

Others have shared great insight that has a ton of merit, but like all areas it's essential to buy right. 

It seems like you already have pretty good expectations. Break-even or small monthly loss is 100% achievable here in good proximity to the parks and attractions.

Please feel free to message me I can direct you to a few opportunities that may allign with what you're trying to do!

Thanks so much!

Hi Helen,

I have clients actively investing in a few different FL markets.

I will say your budget for both the property and furnishing will dictate the type of returns you can expect. The easy money days are over. Only superior design and amenities are winning.

A few markets with strong cash-flow and lower saturation would be Bradenton FL, Clearwater/unincorporated Pinellas County and Hollywood FL. Not saying you can't find slam dunks elsewhere, but these are markets where my clients are actually making great returns on their investments.

Feel free to message me if you'd like to discuss more

Hey Daniel,

I think it really depends on what your strategy is.

If you are planning to pick the market, furnish and manage the property then education will be extremely beneficial.

If you are partnering with an experienced agent/manager then a lot of the guesswork is taken out.

I'm based out of central FL and have helped multiple Canadians purchase investments in FL. Would be happy to discuss this at more length with you. Feel free to DM me.

 Hey Sarah, I'm using Hostaway and overall have liked it. Pretty easy to use, but not 100% sold on it being the best product to scale. I'll have to check out Jurny.

Thanks!