All Forum Posts by: Sheeva R.

I agree that IF the place looks tidy and you can give it some personality with paint or accessories, get it rented right now. People tend to like a theme, and a unified color scheme is helpful. We slow down our bookings in September and October here on the E coast of central Florida, but are in high demand right now. I will do my renovations in those slower autumn months. I am also getting requests for bookings for next year (Jan-Feb-Mar).

As far as furniture, it has to be nice looking! Can't be dingy, or really dinged up, stained, sagging, etc. You don't get a second chance to make a first impression.

That makes sense! Thank you!
where Are some places people typically buy furniture from and what is a usual budget for a 2 bedroom?

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Quote from @Benjamin Aaker:

Hi Sheeva, congratulations on getting an accepted offer! Assuming this is a short term rental:

1. Rent it out now and do the full rehab when the vacancy is up.
2. Get the place cleaned up first, then get the professional photos, then put up the listing.
3. If the two queens fit in your second bedroom, you can go for it, but if there are two beds, most likely will be two siblings / friends in the room and they won't need such large beds. If the room is really that big, then you could consider a third bed or another pull out sofa.

That's what I'm thinking too. Realistically how quickly could all this take place after close? In other words when could we plan on accepting our first bookings?

Also, to that end, would you recommend just keeping the current furniture and then doing all new after renovation? Instead of having to move the furniture during renovation?

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Hi all,

Finally after putting in many offers I had one accepted - Florida Emerald Coast, 2 bdr/2.5 bath, near the beach.

A have a bunch of questions being new at this and not knowing what I don't know!

1. It has not been renovated (built in the 80s) and could definitely use some renovation. But since we are into high season we won't close until May, should we just try to rent as is and then do the cosmetic upgrades during low season? My understanding is that the market is very seasonal. Or should we do a mini spruce up with new flooring and paint and then be 2-3 weeks delayed?

2. What are some things at this point I need to start working on to get this place ready to go asap?

- arrange for cleaner/handyman

- start AirBNB listing

- finding a professional photographer

3. Also, since it is a 2 bedroom - does it make sense to put 1 king, 2 queens and then a pull out sofa in family room if they all fit? Is this the best setup?

Any advice on these questions or anything else that I am not thinking of would be very helpful!

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Quote from @Rodney Menendez:

Hello @Kunal Mishra the best thing about short term rentals is that you can have a second home loan or vacation home loan with a 10% down payment. Since you can only have one 10% loan on each market, I would recommend to max it out and go as large as you can. This property is a 4/4 3000 sq-ft cabin and I am under contract for $1M. We are expecting gross revenue for the year between $100k and $125k. Occupancy rate if well managed can be around 75%

Can one do 10% down up to a certain loan amount? One lender I spoke with mentioned a jumbo loan and needing 20% for that. Can you clarify?

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Hello!

I am new to this group and trying to learn about multifamily/apartment investing. Where do people find these deals? Are there particular resources that one should look into when looking for large multifamily units/apartment complexes?

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Quote from @Greg R.:

Not sure if I'd recommend spending 5k for a spreadsheet or 10k+ for a subscription. There's no easy easy way, you have to put in the time. A lot of time, a lot of phone calls, a lot of research. Get very familiar w/ Airbnb & vrbo apps and how to analyze calendars for occupancy/ vacancy, etc. Sites like Airdna can offer some valuable data, but starting out you'll need all the capital you have to purchase and furnish/ decorate the home.

What is the best way to analyze calendars on Airbnb? Any basic suggestions?

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How does one find the new upcoming areas?

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Question - does nice stuff hold on for longer? My realtor mentioned not wanting to put nice stuff in because it will inevitably get destroyed and you want to change everything out every 3 years. Thoughts?

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Which coc calculator are you using?

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I am putting 15% down.

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All Forum Posts by: Sheeva R.

Sheeva R. has started 17 posts and replied 52 times.

Post: Questions from a new investor - offer just accepted!

Post: Questions from a new investor - offer just accepted!

Post: Questions from a new investor - offer just accepted!

Post: Where is the best location to start a short term rental in FL?

Post: Sources for multifamily/apartments

Post: Can you still get a good COC return with STR prices so high

Post: Can you still get a good COC return with STR prices so high

Post: How Much Does It Truly Cost to Furnish a New Airbnb

Post: Help me analyze this deal!

Post: Help me analyze this deal!