All Forum Posts by: Kim Durst

Lady lake. The agent has since claimed she made a mistake and sent a doc u sign for us and the seller to correct it. 

Definitely shady. Therese a whole back story. We’re investors and have walked from deals many times. I think she was trying to pull a fast one. So many other things she did on this deal. This was a new one for me! Bye 

I thought the same thing however, both boxes are checked.

Florida question…we are investors, this would be our fifth short term rental purchase, and I have never seen this. Wondering if anybody knows the legality involved with both of these being checked. 

we don’t have 100% trust in this real estate agent as we have only worked with them a couple of times. 

We like to have the ability to walk away from a deal if something goes south and typically will use the finance contingency. I haven’t gotten a straight answer from the agent as to why both boxes are checked.

Let me know your thoughts!

Thanks everyone! I wasn't sure if holding in escrow was an option. I feel much better about that! 

Kim

We’re under contract on a pool home in Florida. After two inspections on the swimming pool, we were informed that the fiberglass coating has failed. The pool needs to be drained, sanded, and resurfaced or coded.

seller is offering 10k but then wants us to take the home as is. I say no way. 

it’s going to cost anywhere between 8000 and $12,000. Obviously, we are insisting that the seller take care of this however, I would love feedback on how you would go about it. 

Worst case scenario, they drain the water and find cracks or more damages and costs rise. I’m not even remotely interested in this. 
Po companies are booking to three months out so this can’t be done until after close. What would you do?

Question When your calculating cash on cash return. If we are leveraging equity from another property to pay the down payment on a new purchase, do you count that as your cash investment?

Or, are you only counting actual hard cash for furnishings,etc?

Hi @Michael Baum, Our property is on Airbnb, Vrbo & Booking.com. No mentions of LGBTQ friendliness has ever been mentioned. I was just curious if anyone had feedback:) 

We have a property in a strong LGBTQ area and are looking at adding our listing to Mister BNB. Curious what the feedback is. Has anyone tried it? Good, bad? 

I am looking for fellow STR investors to chime in here. Have you ever had that little negative voice tell you what the hell are you doing? You're making a mistake, this could all crash, STR's are going to be history (according to the chatter out there) Robert Kiyasaki says don't buy right now, and it goes on and on and on....

We've been in the STR business since 2018 and have done well. We are under contract on our 5th rental property and now have 4 STR's and 1 long term. The property in question is the most expensive we've ever purchased and it has me nervous as hell. I've run the numbers several times, researched the hell out of the area not to mention....we previously owned 2 STR's on this lake and KNOW 1st hand what the numbers do (that sounds crazy just typing it).

$530k, 20% down, 7.6%...ouch. All in cash to close roughly $119k plus 10k to furnish. Now....based on our old numbers pre, during and post Covid we should do roughly $100k plus we rent our boat which brings in around 20k. COCR at 100k is around 24% using Luke & Avery's spreadsheet. If I look at AIrdna, Price labs, etc...the data comes in a lot lower which is where I think I'm getting doubts. I'm stuck in the data.

This little voice is questioning all the what if's and the if only's....I'd love to hear from those of you who have had similar thoughts. How did you manage the voice? It can be exhilarating yet, terrifying at the same time.