All Forum Posts by: Joseph Ammar

Hey Fellow Members,

Recently purchased a home all cash (for negotiation purposes) and want to refi in order to start reinvesting. Problem we are having is that banks dont want to lend to an LLC without a personal guarantor but we don't want to have our names tied to it. We want everything under the LLC. Of course the house would be used as collateral, and we dont need 75% LTV could even do 50% which eliminates most of the rtisk for the bank.

Anyone have any suggestions or banks in Florida that can help with this issue?

Hi guys,

Whats the best way to find out if a market/city will charge for hospitality/occupancy taxes or not? 

No way for me to know the actual expenses without diving in deep. Request property expenses from the seller for past 12 months to get a true analysis. You're expenses should not be a percentage since it is a STR and is based on occupancy. Also, there are fees which im not sure you assumed - airbnb and homeaway have fees per booking -2-3%. Cleaning fee you can charge the renter along with service and taxes.

Lmk if it helps - regardless your return seems to be negative so would not assume my changes would make it any better. 

Any members manage short term rentals in kissimmee or know of any affordable managers? I will be coming down in the following weeks and would love to meet if possible to hear more about it and the market. 

Hello!

Was thinking of starting a real estate investment club in my area for anyone interested in learning, networking, and potentially investing. 

Any ideas or concerns i should consider when starting one of these? Aiming for young adults ages 22-30yrs old. Want to have a speaker once a month. 

It also has restrictions and laws coming against STR. Long term may not be a safe option for all investors who don't use the residence themselves.

@Jeffrey Long any advice on mngmt 

The only part I’m not understanding and inplementinng in my model is 35% management fees. Airbnb charges 3% - can use great softwares to self manage and cleaning fees can be paid by guest. 

Hey Members,

Been doing research since my last post and one of the top markets I came across has been Myrtle Beach on the ocean. It is STR friendly and thrives on tourism. Any thoughts/concerns? Anyone already in the market doing well?

@Richard Ibeh long term. i'm trying to understand why higher HOA fees are worse even if the rent is much higher than some other areas to invest in that may have lower HOA fees. at the end of the day all that matters is COC and appreciation while building your equity