All Forum Posts by: Joe Vairo

@Jonathan Greene That is a very good point, a lot of the condo HOA's in Florida barely allow you to rent out long term let alone STR. There is a lot of influx of Jobs in the entire central Florida area. It seems like they're continuously building more and more around the area.

Find groups and or events on Facebook or on meetup!

The STR is in Orlando. I started looking for both the STR and Multifamily in Fort Lauderdale and South Florida. Then came across a couple different deals that made more sense in Orlando, so then I started looking there and running the numbers.

The west side of Fort Lauderdale has a lot more affordable options compared to East of Federal Highway. Plantation and Davie could be a good area to check out as well! 

It really just depends on your goals moving forward. If you are looking to cash flow and have consistent money coming in then by all means keep it and rent it out. However, to sell with that amount of equity could be used to purchase 2 or more properties that could possibly bring in more in monthly cash flow.

Personally I would probably keep it since the markets strong and cash flow over the next couple years.

@Marian Smith I did get compensated, but it is mostly for the convenience like you said

@Kiran K. The repair costs were genuine, they did give us the option to fix the repairs but the owners were happy with the offer and wanted to move forward quickly. 

Hi Kiran!

I have done a deal with Opendoor. They stuck to their initial offer, however they did come back and take an additional $20K off as part of their “fee” for repairs. The hardest part is nobody is really there to contact. When you call the local representative or email them they take a long time to get back to you, and thats if they get back to you at all. I will say to use their title company though when doing the deal, it does make it a little bit easier. The title company was really our only point of contact with OpenDoor throughout the entire transaction.

Hi Marc,

I've heard that Bahia Vista estates is a great place. It is in Sarasota. In terms of walkability It is close by to many shopping and dining areas, while also featuring a lot friendly social events within the neighborhood!

Hi Alfred,

Im also down here in the Fort Lauderdale/Miami area. I don't know of any groups to suggest, however I am open to helping t start one up whether it be weekly or monthly and get something going!