All Forum Posts by: Kiko Mattoso

Reach out to Avery Carl's team The Short Term Shop. They specialize in STR deals and then when you close the deal, they teach you how to self manage the property remotely.

I’ve bought 4 properties with them. Self manage them all from 6 and 14 hours away. If I can do it, you can. She has a book called Short Term Rental, Long Term Wealth. It helps you get your systems in place so you are spending minimal time on them.

Thanks, that's very helpful. I'll look for those people.

0 Votes

New York City, New York

Hi everyone,

I want an honest answer about something. I own only one STR property upstate NY that gives me around 11% cash on cash return. This means, I get like around 10k per year, net. But reading some posts here on Biggerpockets, this deal will sound bad to a lot of investors who say they only consider deals that can generate at least 20%.

My long-term goal is to buy enough STR properties that will generate a cash flow of 20k/month, so I can retire in the next 15 years with live with this cash-flow money.

BUT, in NY the homes are expensive and with current interests rates, I am not sure now buying STR properties is the way to go. I probably can get 10% investing in stocks. Not sure I wanna go that route, though.

My thoughts: I could buy another house now that would generate another 10% Cash on Cash return, and get around 700 dollars per month in cash flow, but then I'd have to buy 25 properties to reach those 20k. I'd need to buy 2 per year, to achieve that, but I don't have the time or money to do that.

I know some of you will say " find better deals, maybe not in NY" but how when you're on a 9 to 5 job?

Any advice? What is the best free tool to help me find the deals? I love real estate, so would prefer to find ways to make it right, than to invest in stocks.

Thanks a lot in advance!

3 Votes

New York City, New York

Quote from @Andrew Simms:

Quote from @Kiko Mattoso:

Quote from @Michael Baum:

Hey @Kiko Mattoso, is your first STR on VRBO as well? If not you are missing out on a lot of guests.

No, is it worth it? But does the platforms combine so there's no double booking?

@Kiko Mattoso You can sync the calendars to prevent that from happening. Some folks don't allow instant booking at all, so that should not be a problem or you could just allow instant booking on one of the platforms and require guests to inquire about booking through the other. The other way to prevent it is to use a property management software, such as Hospitable.

great, thanks a lot Andrew!

0 Votes

New York City, New York

Quote from @Kerry Baird:

Reserves. Keep six months or more payments in a reserve account.

got it thanks.

0 Votes

New York City, New York

Quote from @Brooklyn McCarty:

Read the book Profit First

thanks!

0 Votes

New York City, New York

Quote from @Nathan Gesner:

Quote from @Kiko Mattoso:

When purchased properly, an investment will cover its own expenses and provide additional cashflow. The additional cashflow should be saved and used to purchase new investments. This will accelerate your growth and wealth building.

If the second property will not pay for itself, cover all expenses, and provide cashflow, then it's not a good deal and you shouldn't buy it. Same with the first property.

Here's a guide that describes what good cash flow looks like and how to analyze a property.

https://www.biggerpockets.com/...

thanks!!

1 Vote

New York City, New York

Quote from @Michael Baum:

Hey @Kiko Mattoso, is your first STR on VRBO as well? If not you are missing out on a lot of guests.

No, is it worth it? But does the platforms combine so there's no double booking?

0 Votes

New York City, New York

Hi!

I am looking to buy my first home, an STR one, and I want one that is a max 2-hour drive from NYC and that I can rent on Airbnb 90% of the time and use 10% for myself.

I've been looking in the Pocono Mt area in PA and Sullivan County in NY.

A lot of people told me Poconos are not a cool place to go but the area is extremely hot, homes for sale disappearing in a week.

Considering how I'd use it, which area would you say has more potential for cash flow?

I thinking of a 200/280k property.

Thank you for your time,

0 Votes

All Forum Posts by: Kiko Mattoso

Kiko Mattoso has started 2 posts and replied 28 times.

Post: Buying STR with current rates as a retirement plan?

Post: Buying STR with current rates as a retirement plan?

Post: Profit to pay new mortgage

Post: Profit to pay new mortgage

Post: Profit to pay new mortgage

Post: Profit to pay new mortgage

Post: Profit to pay new mortgage

Post: Poconos PA X Sullivan County NY