All Forum Posts by: Louis Zameryka

@Ruben Correa

I calculated it $68k gross income.

minus the following

electric,

mortgage,

ins,

tax,

cdd,

HOA,

mgmt fee (15%)

reserve and cap ex.

Which puts the cash flow at $11k

This is for a 8 bedroom at $549k ChampionsGate

@Jonathan Conaghan can you tell me more about your rehab please? I keep debating in my head if I go turnkey or find a rehab so i can try to get the downpayment out via a higher ARV. Is that possible in the vacation rental communities?

@Serena Kim where do you find $250k properties for STR. I am lead to believe that at that price occupancy can be a problem and that i should focus on the 7-9 bedroom homes in the amenity heavy hoa which usually then are $475k-$550k. thanks

@Simon W.

You are correct Simon that in my area of NY the 10% will require equal or more capital or a lot of leg work.

I think I’m sort of less concerned about the return vs the idea that I cannot get the cash out.

It might be more worth it to find a deal that includes a rehab to get the cash out and the 10% or slightly less.

What do you think Simon?

@Ruben Correa I’m seriously looking at buying a rental home in Kissimmee at Champions Gate most likely.

I’m struggling to see how people get the cash on cash return there. I found a 8 bed at about $540k and that rented for $68k in 2019 but when I run my numbers the annual profit at best is $12-14k.

Why would I tie up about $125k cash (dp and closing) for 10% a year?

Am I missing the value somewhere? It seems like a low appreciation market meaning no chance to re-appraise and get the down payment out.

Advice is appreciated. Thanks

@Joseph Firmin

Thanks for the advice and the article. So it looks like in an area like mine within 2-3 hours of NYC that housing shortages will exist for a long while even post Covid frenzy. Thus I should still negotiate hard to get my cash flow but also not fear too much that a depreciation is in the cards over the next maybe decade. My goal is cash flow not appreciation (except forced to get my down payment out)

Any other thoughts on my statements anyone?

In my area due to demand of people relocating out of NYC at least part time, homes in rural mountain areas are listing for about 30% over the market rate used in their last appraisal. Then getting multiple offers. Should I respect that Covid listing price or offer over market value just respecting the ranges of my investment math? I’m buying in the low end of the market so there is a bit of an inventory crunch in the areas I’m looking.

Any advice?

@Matthew Stallings I’m also in the market for one. I’m trying to choose between ChampionsGate, Reunion, Windsor and Solterra.

Lots of choices to make regarding location, hoa fees vs amenities and house size. Seems like there are some good deals out there if you can hold on for a bit until cash flow comes back as parks open more in 2021.

I’d like advice on where to take my down payment from.

I’ve got a paid off house I can get a heloc on

I’ve got a 401k

I’ve got a savings account

I’ve got a brokerage account (might have to sell a couple stocks to have the cash)

Which one is best to use to take about $50k downpayment and up to $25k renovation funds for a approx $250k home I want to buy with a mortgage for an Airbnb style brrr

Any advice on which avenue and why?

@Michael Dumont II ok night problem. To the east is Brattleboro and Keene NH. It’s about 90min from Albany 2.30 from Boston and 4hrs or less from NYC.

@Michael Dumont II what about the area of Whitingham? Looks like a pretty good year round ski and lake potential.