All Forum Posts by: Lake Lutes

 I think you answered your own question! Honestly - sometimes, even if guests have "issues," just asking for a 5 star review is enough to encourage them to leave one. The other thing I have gotten a lot of good feedback on is being almost overly communicative, and always answering guest messages and offering to bring a handyman out, a cleaner out, or have a Walmart + order delivered THE SECOND there's an issue. So even if there are issues, they know I am actively working to solve it and not blowing them off.

Hey Melissa!! Its been too long!

I would say the MOST important things are 1) communication with your guests and getting good reviews, along with 2) having a vetted team (handyman, cleaners, etc.). and 3) document EVERYTHING regarding issues and Air BnB will take care of you (without documentation you're out of luck).

 Thanks @Raymond J. Rodrigues! Happy to chat @Tyler Hall - STR regulations differ from area to area, but for the most part you shouldnt have a hard time finding a place you could live in now and STR down the road. Hit me up if you want to chat specifics man!

Great thought process. I helped 2 buddies buy condos on Okaloosa island within the last year who did the exact same thing - they're here for 12 months for flight upgrade training.

Happy to recommend cleaners, management software/products, or listing advice when the time comes. Until then, let me know if you want to check out some properties. Happy to help!

Hey River! What are the requirements to hit 5.99% for a SFR? That is dramatically lower than other DSCR lenders right now. How many points? Pre-payment? Terms?

Thanks!

 Varies by property of course... I don't think cap rate for residential RE is necessarily the best metric, but I try and achieve a 10% minimum gross rent to purchase price figure, so a $300K property I am hoping to achieve a $30K/month gross income goal. This is easier to achieve for short term rentals, and a bit tougher for long term rentals - but I've been getting close for LTRs as of late (closer to 7-8% for LTRs).

Hey Thomas - I am an agent and investor in Fort Walton Beach, Fl. I have gone all in investing in this area, with the military population, tourism demand, healthcare population, etc - it is attractive for so many reasons. If you have any questions about the area or investment options, I am happy to help! Most importantly - The panhandle (Emerald Coast) has the best beaches by a mile :)

Hey Shelby! Tons of great short, mid, and long term rental opportunities on the Emerald Coast of FL, just east of Gulf Shores AL. Let me know if you need someone in your corner over here, I am happy to help and run some numbers for you!

Hey John - I am seeing mid 7%s for DSCR with 20-25% down, so mid 9%s is a couple percent higher than I am seeing!

Of course, this is going to depend on how many points you're willing to eat for buy down (break even analysis timeline is a must), but either way, mid 9%s is at least 1-2% high.  

If you keep an open mind to house hacking meaning renting out part of your home or renting out an in law suite NOT just the traditional multi-family sense of the word, options expand dramatically. Here in NW Florida, there's tons of options to house hack really nice homes if you rent by the bedroom or separate in law spaces through MTR to military or traveling nurses.