All Forum Posts by: Katharine G.

Thank you, @Tyler Gibson! Followed up with @Alice Horn and looking forward to diving into the search!

Thanks, @Amanda Ferguson! Will do.

Hi all!

NY based investor looking to get a vacation home in Florida (tale as old as time, right?) and seeking some wisdom for a rookie.

Interested specifically in Kissimmee/Orlando/Davenport as Disney market feels familiar to me and it’s generally a cheaper entry point than beach condos.

Looking at Regal Oaks (staying here now on vacation myself and enjoying it, though have read mixed things about occupancy), Windsor Hills, and Champions Gate.

Goal is to have a second home that I AirBnb out the majority of the year but also can escape to when NYC is ruthless (like now :) hoping to live in the 150-250K range, bonus if there’s a pool (regal oaks has community pool and individual hot tubs), and solid amenities.

Other than reading for my life, how can I number crunch and prepare for this? (Tricky to do now, especially) Anything you’ve done in this market that you wish you’d known about?

Thank you all!

Jim, that's a great consideration. The son of the owner is a carpenter/handyman so he's definitely been fixing certain items himself over the years. 

The ARV is more likely around 250. The house needs a *lot* of work--saw it yesterday. I'm guessing more like 75-80K. Probably indeed a full gut reno--including windows, doors, etc. My concern is it would be a great deal if I actually wanted to live in it, but probably not a steal as a flip. Alternatively, could be solid as a rental, but the style of reno would probably change in that case.

Thanks Edward!

Also--in terms of a loan/mortgage--can anyone speak to the best kind to get? This would be my second property. Is there a combo mortgage/home improvement loan?...(I know, I know. I'm doing research as well!)

BP Team!

Long time lurker, second time poster. A property in a Dallas suburb next to my aunt's house has been vacant for 2 years. The owner has lived in Dallas proper (older gent with a much more expensive property) and has rented the second house out for the better part of the last 30 years. It's in original 1979 condition--rough shape. Sent a note asking if they were interested in selling--they are. Mostly looking to get it off their hands.

Estimating it needs about 50K of reno work? Aesthetic work throughout but full kitchen and master bath gut. (Is this unrealistic?) Zestimate for similar fixed houses in the neighborhood in the low 200s. Looks like we might land on a deal around 130K.

Going to see the place today--outside of having it inspected, what else should I be considering as I head into this? TYIA!

Thanks @Chris Szepessy! That's great to hear.

At the risk of sounding stupid--is Google searching the best way to look up the potential laws regarding STR? All I'm finding now is a poorly attended town hall meeting and people on both sides of the issue--but no hard and fast rules in that area (I know lodging taxes are being enforced in other areas..

Thanks @Raul R. I do anticipate having a team upstate to assist with turnover, etc.

Thanks for the input!

Good morning!

Not new to the podcast and currently reading The Book on Rental Property Investing, but new-ish to the forums/site and admittedly green. 

I live in NYC and have been saving steadily for a home purchase; I don't have enough to buy the kind of apartment I'd like in the city, but for half or a third of the price, I could buy a home upstate in the Hudson Valley. (FWIW, my rent is very affordable and I can comfortably handle a monthly payment on a house after downpayment etc.) Looking for STR as opposed to long term tenants; I work from home and am happy to add this as an additional job. The idea would be to purchase a home that I AirBnb/VRBO out but also have the ability to use when it isn't booked; profit would be great, but I would settle for paying it off (or even mostly) with renters. After researching the towns along the Hudson and making a trip, my initial thought had been to purchase a home in Kingston. I love this area and it seems there are still deals. As time has passed and I've done more research, I've been wondering if would be wiser to purchase more of a Vacation Rental in a ski area like Hunter/Windham. Selfishly, it's more appealing. It would be nice to have a home that's distinctly different from my NYC apartment (mountain as opposed to town) and it also seems there might be more profit to be made on a ski/mountain rental. At present I'm looking at homes that don't need FULL reno--mostly aesthetic fixes/updating, but still fixer uppers to an extent. 20% down and leaving ample cushion (I think) for reno etc. On the right track? Is a mountain purchase a terrible idea? Glaring factors I might not be considering?

Also: Any HV investors (bonus if you're NYC based, also bonus if you're female) interested in meeting up/chatting--particularly those in the STR game?

Open to any/all suggestions and opinions. Thank you in advance!

Hi Jared--

New to BP (and real estate investing, for that matter) but a NYC local very interested in the Kingston area. I may be greener than what you're looking for, but would love to learn about anything you have to share--or even grab coffee sometime to talk about the area.

Katharine