All Forum Posts by: Kate Hayes

I would get rid of the property manager and keep that money. You can manage it from out of state. Talk to the tenants and tell them to report any issues to you directly. When you buy houses there are always unexpected costs out the gate. Once you fix them you should be smooth sailing after that. Everything you fix is one less thing to have to fix later. And when you do finally sell you can advertise all those items have been upgraded / fixed which means you can recoup those losses. 

Investment Info:

Single-family residence buy & hold investment in Fort Lauderdale.

Purchase price: $243,000
Cash invested: $40,000

I rent this out through AirBnB. It is a house close to the beach and the airport. I fully furnished it when I bought out and it was already remodeled.

What made you interested in investing in this type of deal?

I wanted an AirBNB I could use when I came to town but now it is a full time AirBNB. I find they cost more up front but make more monthly.

How did you find this deal and how did you negotiate it?

I am a Realtor so I found it myself and purchased it myself.

How did you finance this deal?

My own money and commission went into the closing costs.

How did you add value to the deal?

I furnished the house, had it tented for termites, re sealed the flat roof, cut down some of the overhanging trees.

What was the outcome?

It is fully rented for a month out. Very popular with the airport crowds and those looking for longer stays (aka more than two weeks).

Lessons learned? Challenges?

Find a good property manager than specializes in Airbnb if you don't have the time to manage it yourself.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself.

No not this one - but there are several like it in Lake Worth and surrounding areas. Would you like me to send you a few that are for sale? 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $20,000

Move in ready townhouse that I rented out to long term renters.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Lake Worth.

Purchase price: $220,000
Cash invested: $30,000

Single family home with a mother in law suite in the back. They are separated by a fence so they each have a private yard and separate in house laundry.

Hey there,

I am running the numbers and seem to be finding the return on a tri-plex is much better than a single family home. I could expect to make $2200 a month with a single family home for $250K - Or $3000 for a triplex for even less. Why do these numbers seem to be "too good to be true?" Does anyone have experience with multi unit rentals than has some advice?