All Forum Posts by: Lance Campbell

@Nick Belsky I was very vague.

I am looking to purchase my first STR condo. I live in Tennessee so would be an out of state loan. I have the funds for a down payment of 20-25% of the properties I'm looking at. Just curious what my options are. Or knowledge of investor friendly lenders in the area. Thanks

Looking for advise on lenders and types of loans people are getting in the Miramar beach area?

When estimating the potential revenue of a STR. What is the best way to estimate how many nights the rental should book? Should occupancy rate of the area X the number of days the unit will be listed give a good number?

@Kenneth Garrett thank you!

@Kenneth Garrett awesome! I’m ready to make the leap, I have the funding, just looking for a good deal. This property listed at 354k with 40k in gross rentals last year. Est cash flow of only around 12,500 yearly. Cash on cash 4% roughly.

@Kenneth Garrett appreciate it! My first issue when evaluating is looking at a management company, 28% . Would 10% be fair to account for cleaning / listing myself?

I’m looking at a property in Miramar Beach, FL. Chase flow would be in the negative at that price. What kind of cash flow percentage should be expected in a beach vacation property?

@Luke Carl appreciate the advice! Turns out it was owner rented. This property is in Miramar beach FL , I live in Tennessee, with it being my first vacation property would the smart thing be to use a management / leasing company. There is already one on cite.

Looking at purchasing my first STR property. When I ask for past years profit generated from rental I was given gross rentals for the year. Just so I'm sure gross rentals is going to be the total on the year not necessarily profit correct?