All Forum Posts by: Kevin Pillow

Quote from @Nathan Gesner:

Quote from @Akshar Deri:

Hi Friends,

My name is KP and I live in Atlanta GA. I have some long-term rental properties in Atlanta and looking to buy some STR in Jacksonville FL. I have seen your post on bigger pockets and that helped a lot of people I noticed. I have a couple of questions and hope you help me with those. Do you have some sort of spreadsheet to calculate/estimate P&L before you buy STR? I just want to know how I calculate the price that I am paying for the house and how much an average would I make of the property.

go to the bottom of this page. Click on "FilePlace" in the left side menu.

Click on "Spreadsheets" then type "short term" in the search box. You'll find the following two spreadsheets that may help you out. 

Been on BP since 2018ish and you just blew my mind. I had no Idea this file storage page existed! THANK YOU.

Quote from @Caleb Drake:

Quote from @Kevin Pillow:

I would suggest coming out to the investor event that @Caleb Drake is holding in pensacola this month, lots of great connections to be made there. I don't have the info in front of me but I'm sure he can drop the details in this thread. 

 That was fast! lol.

I would suggest coming out to the investor event that @Caleb Drake is holding in pensacola this month, lots of great connections to be made there. I don't have the info in front of me but I'm sure he can drop the details in this thread. 

Just curious, are you looking for insurance to cover a detached/attached single family home or a condo? I usually see people get standard home insurance and then an additional policy that covers STR specific items. One STR insurer I see suggested is, www.safely.com. Best of luck and congrats on the purchase!

I love the idea of selling off the 2 acres in the deal. It's like a real estate leveraged buyout that finds companies worth more sold in parts instead of the whole.

How hard was it to get a crew of handy men or contractors to commit to the project? Do you have past experience with them? I'm curious because some of the feedback I hear in this phase of the market is low labor is limiting the number of jobs contractors can work on.

Like @Marshall Leipprandt said Destin and Miramar Beach were made for short term rentals. Great places like Crab Island, Henderson State Park and Harbor Walk create a unique atmosphere that draws huge family crowds. Regulation is stable and friendly. The only challenge I have seen is limited days on market for the deals that are great cash flow opportunities. So making sure you have a way to run the numbers quickly, financing ready to go and an agent that can write a competitive offer are going to be crucial. Single family homes and townhouses are where most of the competition is when they hit the market, especially those south of Hwy 98. There are still great condo deals but you have to do your comps and make sure there aren't any major assessments coming up.

With how frequently we are seeing these big fires, are insurance companies jacking up the rates? Does that have any impact on profit margins?

So if you go to Udemy and purchase the course https://www.udemy.com/course/r... this guy goes in deep and provides many spread sheets for you to use to do proforma, internal rates of return and discounted cash flows etc.

It's a big shock to a lot of investors that want to use the 10% down FHA Second home loan program. But that's why realtors who focus on investors need to have lenders in their network with non QM loan products.