All Forum Posts by: Laura Renner

@Javier Gil Thank you. I'll be in touch soon

This property is located in the Palm Beach Polo Development of Wellington, Florida of Palm Beach County. The neighborhood across the street is where Bill Gates has swooped up 6 properties.  There are many horse stables and barns in walking distance, for equestrian lovers that want their loved horses well kept for 24 hours without having to be on directly on the property.  Views of the Palm Beach Polo Club from the property.

Financial: Asking price $1,350,000.  

Built 1988

Sq. ft- 8,400,  Living Sq. ft 7030

5 Bed, 5 1/2 Bath plus attached Studio/future in-law suite

Pool, outdoor sauna room, cabana bath

1 Acre Lot

Construction: Frame/Stucco

Estimated Remodel to update: $75,000-150,000 (if using higher end products)

ARV: $1,600,000-1,800,000+ (depending on scope of remodel)

Properties in this area range up to $20++ M

Rental Rates during season $25-35,000/mo. for estates of this size.

Owners have done the following recently:

• 5 Ton TRANE AC unit installed 2015
• Pool resurfaced in 2015
• Garage doors installed 2015
• House and patio - new roof 2008
• There is an 800 square foot unfinished area which could be converted into a mother-in-laws apartment (plumbing for bathroom and kitchen available, also location of this space makes separate entrance convenient)
• Second floor deck can be built above existing patio (one was there originally, current owners took it down when they redid the roofing. Were going to rebuild but could not due to financial reasons)
• Room on property for addition of a horse stable
• Location of property within short distance to horse show...(and everything else you need)
• Close to Wellington Amphitheater, numerous community parks, horse trails, bike paths, Wellington Mall and restaurants
• Peaceful area surrounded by nature...yet close access to everything..
• Low HOA fees - $205 per quarter
• Zoned for excellent Wellington schools, top rated in Palm Beach County.
• Wood burning fireplace, built in bar
• Beautiful sunsets!
• Abundant closet/storage areas
• Backs to immaculately maintained riding track

  Please contact me for more information and market comparable sales.

I have just accepted this property as a listing but have not placed on the public MLS yet. We are in the process of getting professional photographs together. You have the opportunity to buy it pre-market.

image:  The red X is the property.  

Horse- Stables/Barns

Circle- 6 propertjes recently purchased by Bill Gates 

Thank you @Account Closed I'll let them know you recommended them. Appreciate your recommendation.

Looking to my fellow BP members for your recommendations. Need reliable, talented photographers in Palm Beach County.   Your recommendations are appreciated!

Hi @David 

@David Wild Welcome to BP!  There's a wealth of information you can learn from these forums and podcasts. I'm in the same area as you, so feel free to connect if and when you can share thoughts, business or questions. 

@John D. I agree it's a cost of doing business. All we can do as investors/owners is exactly what you mentioned, pre-screen as best as possible (these guys were con-artists though- fake profile, fake card and lie about who was staying). This was in a high-end area with costly homes, so my friend had higher quality decoratives and electronics. I believe this event was un-common, but it's safer to assume it in your costs and expect that it can indeed happen. Therefore, don't install high cost items that can easily be plucked up and stolen. Overall, I'm a big big fan of STR. I would never let guys like that, ruin it for the many guests I've had that have been amazing. It's been a really good experience overall in the past few years.

Hi Joe, Is this listed?  I'm interested in learning more... Curious of what repairs  (estimate) are needed. Reply or PM me if you want and thanks~

@Leigh Ann Smith I love your listing :) I'm a huge fan of AirBnb, been using it for 3 years now on 4 different properties. All high tourism areas, but I've visited and stayed in ones off the beaten path like yours and loved it. I see out solitude when I travel :)  Question: Who built the tiny house for you or did you/family member construct it.  Did you need a permit?  I ask because I'm looking for a property that will allow multiple tiny houses to create 3-4 to short term vacation renters.

@Bradley Pietrzak I completely agree! I learned that lesson just last week.  And the investor is set to make very good money from the deal. Fool me once....but never twice :)

@Kiki Helland It appears to be legal in outside common areas (patio/garage) if inside it should and must be disclosed. Check with your own state law of course. I personally don't have them inside,  and don't feel right doing so.  That's invasion of privacy to me.  My friend, does disclose of their presence. I'm sure he's lost guest potential but he doesn't mind.