All Forum Posts by: Jeff Davidson

Hi,

we have an onsite rental desk that does a great job. We'd like to give holiday gifts to them when we're onsite but don't want it to seem like we are bribing to steer rentals our way...

good idea to give gifts?

thanks!

thanks all, as I said in my op, I don't think it was intentional, it just felt "scammy". Let me think about it...

we have an accepted offer for a fl condo, it's an as-is contract which allows us to recover our deposit if the seller won't repair a defect. The home inspection uncovered that the heat pump, a $5k replacement, was near the end of expected life. Had we known, we'd have lowered our offer. Since it's working, and therefore not a defect, apparently we have no recourse.

I'm sure this was not intentional but not sure we can do anything.

thoughts?

@Luke Carl lol, actually, I think the better analogy is purchasing a leaky boat. There's no danger of drowning but I'd like to do everything possible to slow the leak. as for overthinking, in some ways, that's how I got into the position of safety from drowning :^)

anyhow, I'm retired and this forum has started to open my eyes to opportunities of deploying capital in new ways. very intriguing. To go off my topic for a moment, I worked in wall st asset mgmt, I thought I'd read that with the entry of private equity/asset mgrs to real assets, real estate returns have pretty much converged on stock market returns?

best,

thanks @Ken Latchers I tend to agree, unfortunately, we have family not far from st aug and would like to spend more time with them as we all approach retirement. Also, we are tennis players, and in a one week visit found two incredible tennis communities in st aug

@Julie McCoy  the complex we're considering does have onsite maintenance and the fee is 20% but you do make good points. the other advantage might be the ability to charge higher rents than the onsite pm. I see that on vrbo, where the owners have really gone out of their way to reno/improve the units and want to capture a premium above the "gold" standard for the complex.

thanks!

Hi,

  we're considering purchasing an str in st augustine fl. Retirees in the winter (jan-apr), families in the summer (jun-aug). It will be mixed use (we'll use it oct-dec). 

the onsite realtor is encouraging us to purchase a first-floor unit. She states retirees prefer the first floor (though there is an elevator) as well as families with kids. For our use, we prefer the 2nd floor due to better ocean views. Interestingly, 2nd and 3rd floor units tend to sell for higher prices but perhaps aren't as desirable in the rental market.

Looking over rental histories, jan-mar rentals seem assured but we're not sure about the high-value, summer rentals.

thoughts?

@Karl McGarvey

we have the rental history for four condos in the complex we're considering, every one is rented jan-mar, some thru april.

thank you lucas, I've read some of the self-manage threads, a little daunting considering we're remote. As someone pointed out in one of those threads, if checkout is at 10:00 on a sat, a problem is discovered at 11 and next check in is at 3, we might be in a world of hurt. Still, we'll be exploring this.

we plan to pay cash but don't think it will be possible not to lose money given the opportunity of the purchase price. However, we hope to use it enough to make it an affordable vacation condo.

Hi,

we're thinking about purchasing a str condo in st augustine. Winter rentals are to retirees, june july and aug to families with kids. Most of the tripadvisor complaints in the complex have to do with mattresses, what other upgrades offer good ROI? I'm thinking large screen tv, maybe a gourmet coffee maker...

thanks!