All Forum Posts by: Keith C.

Hi 

I have a 6 unit ( Cash Cow ) multi family on a beach block . Under contract needing a  close by end of week — Very hard to find  6 unit Multi family most units are 2-4 .. price In the 70k range per  unit.

Aside from beach block only 1.4 miles from the VA medical center just across the bridge . Meaning ( VA staff etc ) opening the already multitude of people's looking for rentals. In the 900/1300 range.there are 2-4 vacant rentals open at anytime in the whole town . Any PM will tell you it takes days ( not weeks ) to rent these smaller units

Property is being sold at distressed price and already has cash flow with some leases.

I am open to fliping the contract preferably JV—

I Would do a 50/50 JV -as this is a Cash Cow opportunity that I would BRRR

PM dor full details including appraisal at much higher price 

This is only for someone who has funds available , there is no time for lengthy doc processing . I can show you units today and or tomorrow 

Sorry for the short notice 

One of my partners coming up short 

( St Pete Beach , St Petersburg, Pinnellas County , Multi family , Distressed cash sale ) 

I have some both SFR rentals and flips in St Petersburg and Tampa . Doing well on both . Tampa and St Pete are sensitive to being on the right right side of the highway and street. If you can find a nice organic neighborhood you will do well . It took me 4 months learning the areas before making offers

I would be happy to chat with anyone who wants to learn more  - just PM me . 

I split my weeks between in NY &  St Pete ( I like the beach ) . Managing my flip crews, monitoring my rentals and looking for new opportunities.

I am very interested in Multi Families 20 + units .  I made a number of offers but none of the bigger MF  deals landed  just yet.

I think the RE crash is imminent as Trump has practically  closed our borders  . No more illegals needing housing  :-)  

That said ,,, perhaps   Trump was pushing so hard for the Steel tariffs since his family has accumulated a s__t load of properties in Pittsburgh ,, Steel capital  USA  , again just kidding .. but ........

I have acquired a few properties in FL each on their own LLC , Some our rentals some are flips Looking for liability and possibly full package

@Thomas S. how much programming effort would it take Airbnb to restrict hosts or guests from booking stays that are not allowed ? A pop up would appear “ this property is restricted to 4 weeks stay “ .

If you are trading stocks the trading Platform restricts traders from doing illegals trades. Such  as  Restricted stock shorts , margins , etc .. 

It comes down to a $20 Billion platform   - Airbnb Adding some basic programming,  vs mom and pop trying to navigate pushing buttons and the local law of the day.

Airbnb will never do it because they make money wether it’s legal or not.

Ironically Uber has a similar matter when certain counties or municipalities ban Uber from picking people up without local permits . ( Weschster county NY is one example ) If the app alerts the driver of a local pickup and the driver winds up getting fined . Uber claims they will defend or pay the fine .( usually $5000 and up )

 I don’t see Airbnb advising  or offering hosts any solutions or platform help.

I think it’s time Airbnb does the right thing and spend a few hours on platform restrictions.

The point of the post was not to justify the host , who in this case had warning , but rather bring the seriousness of the matter to anyone currently hosting or looking into a property - calculeting on hosting income .

That said,  the article clearly states the agency had monitored the hosts activity weeks, used fake reservations etc .. 

If this is truly illegal They Should Ban Airbnb , Howmaway , in those neighborhoods. Put some of the onus on the Big boy valued at $20 Billion dollar store  not the small people guy trying to make a few dollars of side income.

Agencies go after easy target - they can’t afford the Airbnb leagal batte .

When  small government bodies are lurking in the bushes with binoculars that’s just messed up for any US citizen.. Unless your selling crack , 

It appears more cities are beginning to crack down on STR's.

Even in once STR Friendly neighborhoods on the Gulf Coast.

A Couple  in Clearwater FL were  fined $35k after Municipal Code Enforcement Board ran a sting operation to bust the couple .

Tampa bay Online 

Staking  hosts  out on Airbnb and HomeAway , even taking license plate info from cars parked in driveways.

It would be much more courteous  if these cities and municipalities just post STR laws as opposed to being vague and opinionated to  what is or is now allowed . 

A basic radio , newspaper campaign to the local area would clear up all confusion , Apparently these municipalities and code enforcers rather play the Cat and Mouse game 

Do others have knowledge of the STR law  in the Greater Tampa Area  or other regions in FL ?

@Jared Vidales , I find it hard to comprehend how a flooded home in Houston needs 5-10k in repairs. Almost all homes I looked at were well over 40/50k . Most were taken down to studs  , needed new kitchens, baths, plus the usual suspects. 

You also need to be very cognizant regarding mold readings and remediations especially if someone else oversaw them .

That said, if you have deals like the one above in Houston , Phoenix or Vegas  I would love to see about acquiring them as long as the numbers and Mold facts can be backed up..  My only criteria is that they remain in warm states .. I had enough of NY cold .. 

Please PM me .. All the best   

@Garry Huber @Jenessa NeSmith I have yet to find a good tool or platform to show real  Airbnb expenses vs real Aribnb income considering  vacancy and price adjustments . There are platforms that manage your listing and pricing but not that I found analyzing a deal as an investor . If there is some you saw please post here please in this forum.

I started creating a Google Sheet that incorporates investment , expenses vs credits and shows a percentage return o ROI . I'm still Touching it up and should be done soon .

@Jennifer Wilson I recall a post on BP a while back that mentioned Destin is now over saturated with vacation properties. Just saying what I recall seeing. I also just did a quick  Airbnb analysis on Destin and most properties occupancy rates are between 35-55 %  . In fact many under 50% ... I would speak to local STVR people and confirm what their occupancy rates are. Let me know if you hear different . Very possible trends change , but i would research more .

Condo polices don't give a hard time to Airbnb hosts in Destin?

IF anyone wants a brief Airbnb  analysis for one area ,,PM me ..