All Forum Posts by: James May

if you can house hack a house that you genuinely owner occupy, but frequently aren't in... that is a very powerful strategy, because it opens up better financing with lower down payment options, but still lets you buy and run a STR. I'd look into that.

Is there anyway you can point me in the right direction for where I can start? Who should I watch, what should I read so I can become as knowledgable as possible to get into this?

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Quote from @Nicholas L.:

@John Underwood wow, 100 votes for your post of sound advice. I haz questions for OP.

@James May

Have you talked to a lender to get pre-qualified? Are you working with an agent? Are you looking on-market or off-market? Why do you want to invest in STRs (not challenging you, just trying to get to your goals.) Do you own or rent currently? Could you house hack and use a portion of the residence as an STR? Are you going to any meet-ups?

You are asking the best questions so thank you.

Pre-qual - Yes I have an investor-friendly lender I work with and they based the "pre-qual" based on the potential income of the property.

Agent: Yes I have an agent shes excellent and works with a few STR investors

On/off market: I have only looked on Market, not too familiar with tapping into off-market, or where to start with that.

Why to invest: I am looking to quit my job and be able to dominate the real-estate game, STRs have amazing cash-on-cash return, great potential for margins, and overall ROI. I also do a lot of traveling to having places all over would be convenient.

Currently, I rent an apartment is south Orlando, Fl.

I would love to house hack, not 100% researched in the topic so haven't fully tried, I am having some issues with full-time just and have been searching for other jobs in the meantime and that isn't going well.

Meet-ups: I want to go to them but have not found any, I don't really know where they post them.

To be honest, I'm not aggressively looking for meet-ups like I should be, really focused on getting the first property, finding a new job and researching. Not an excuse, there's no excuse for not going because they are very important.

1 Vote

Quote from @John Underwood:

Buy your first STR relatively close to you.

Consider buying a LTR for your first investment property.

Run the numbers and make sure of what you could net after all expenses. There are several STR spreadsheet tools floating around. Search through the forum.

Read through the forum on past topics and read Avery's book.

Don't get emotionally tied to a property let the numbers do the talking.

Know what the STR rules are for the area you buy your first property.

A 2 bedroom house may be a good first affordable property.

Always ask seller for owner financing you never now what they might say.

And don't call it an Airbnb. It is a STR or vacation rental that is listed on Airbnb.

Thank you, I just joined this group so its time to take action

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Quote from @John Underwood:

Buy your first STR relatively close to you.

Consider buying a LTR for your first investment property.

Run the numbers and make sure of what you could net after all expenses. There are several STR spreadsheet tools floating around. Search through the forum.

Read through the forum on past topics and read Avery's book.

Don't get emotionally tied to a property let the numbers do the talking.

Know what the STR rules are for the area you buy your first property.

A 2 bedroom house may be a good first affordable property.

Always ask seller for owner financing you never now what they might say.

And don't call it an Airbnb. It is a STR or vacation rental that is listed on Airbnb.

Never thought about it like that, whats the mindset behind calling it that?

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Hey guys, I have been researching the space for quite and while and have been doing quite a bit of research and seem to find myself having a very hard time pulling the trigger. Any advice?

0 Votes

All Forum Posts by: James May

James May has started 2 posts and replied 15 times.

Post: First Air BNB property

Post: First Air BNB property

Post: First Air BNB property

Post: First Air BNB property

Post: First Air BNB property