All Forum Posts by: Lenny Machin

Hi All, I'm checking back into this forum after 4 years of silence! Nice to find a (slow but) steady stream of feedback. No change on my end. I have 30 acres of land willing to sell it. Not sure what it's worth. The thought of developing / AirBNB is exciting but the fact that I'm in SFlorida kinda leads us to just sell. Any thoughts or ideas? Thanks, Lenny

Hi, I'd love to attend this but I'll be on vacation with the family on 7/19. Please let me know when you'll be hosting the next one. Thanks for putting this together!

Hi gentlemen,

I realize I'm coming into this conversation 1 year late! Anyway, I'm in Miami and I own 30 acres in Tobyhana (on Green Rd.) We're really interested to build SFH's for Airbnb. We've had great success in Miami with Airbnb & hoping to duplicate that in Mt. Pocono. Any ideas or contacts?

Thanks,

Lenny

I'm interested also!

@Jose Rueda - I'm not a realtor and definitely no expert, but my dad has over 100 apartment units and his "magic number" is 6% cap rate.  I agree with your last statement "...higher than inflation of 3-4%  then I'm good".  It's conservative.  Is a higher cap rate in SFL realistic?  Perhaps in a different market than Miami Lakes condos or Hialeah apts, I'm just not aware.  All I can say is do more homework & find out for yourself.  In the mean time, let me know if you're interested in my unit.  All the best!  :)

I'm selling my Villa Vizcaya townhouse in Miami Lakes:

Asking: $315k

Currently renting @ $2,000/mo

Association Fee (includes ins.): $230/mo

Taxes: $3,122/yr

Cap rate= 5.8% = (24,000-((230x12)+3,122))/315,000

Any takers? PM me :)

I'm selling my Villa Vizcaya townhouse in Miami Lakes:

Asking: $315k

Currently renting @ $2,000/mo

Association Fee (includes ins.): $230/mo

Taxes: $3,122/yr

Cap rate= 5.8% = (24,000-((230x12)+3,122))/315,000

Any takers? PM me :)

@Jose Rueda: 

I'm selling my Villa Vizcaya townhouse in Miami Lakes:  

Asking: $315k

Currently renting @ $2,000/mo

Association Fee (includes ins.): $230/mo

Taxes: $3,122/yr

As per @Gabriel Amedee's explanation:

Cap rate= 5.8% = (24,000-((230x12)+3,122))/315,000

Any takers? PM me :)

That's great if I don't need perc testing, but am I then able to install septic tanks w/o them? 

It turns out my dad paid for 'testing' in '82 and is now digging around for the paperwork.  We should be update on all taxes, but may consider a title search to confirm no checks got lost.  

I'll check with SEO to see how much of the 30 acres was even tested (& dbl check against our records).  Can either of you recommend a soil scientist?  How is quantity of testing determined over 30 acres? 

@David Krulac @Beka Shea: I so appreciate your feedback! This is a bit challenging to figure out from Miami, FL.