All Forum Posts by: Matthew Tregoning

Certainly, in the highly competitive Disney market in Kissimmee, selecting the right vacation community is key. Look for properties with HOA restrictions that align with your rental plans, and prioritize communities with exceptional amenities. A well-designed and themed interior is essential to stand out and attract guests in this market. Best of luck with your search!

 Hey Michael,

You don't NEED to refinance an FHA loan once you move out and start to operate it as an investment property. I have 2 owner-occupied loans (VA/FHA) and now operate both as investment properties. One thing that WILL change once you move out, you will need a new insurance policy for investment properties specifically for STR if you go that route.

All of the rules for STR are outlined online for whatever area you're looking to purchase in. However, I've found the quickest way is to just call the town hall representative in charge of zoning and ordinance and ask. These documents can often times be long and difficult to find what you're looking for.

Some great locations have already been talked about here! I'll add in Cocoa Beach to the conversation. I think the Space Coast as a whole has a ton of room to grow and Cocoa Beach for the most part is a bit of an undiscovered STR location and there isn't a whole lot of fierce competition.

As for STR to LTR. I think the more reasonable plan would be STR to mid-term rental. Mid-term rental would need to be marketed towards corporate travelers, travel nurses, or snow birds.

Hey Zach! 

THEME THEME THEME in the Disney markets. The market has a TON of short term rentals. Themed rooms, garage-to-gameroom conversions, pool/hot tub will help you stand out! 

I have had some success by checking in with them 4 hours after check out to thank them for their stay, request a 5 star review and explain how it helps our business, and wish them safe travels. I am new to STR but I am 6/6 with this strategy. I use hospitable to automatically send this message.

Hey Obehi!

I'm seeing massive success with my duplex as a mid-term rental in the Space Coast. Have you considered marketing towards travel nurses?

Hey Sarah!

Great work so far! It sounds like you already have some experience in the mid-term/short-term space so why not continue that route? You have a HELOC for a considerable amount, you should be able to purchase a 2nd property in a good area for short term rentals. We have a few good options for short term rentals here in Florida.

If your main concern is leaving your current job to get into real estate. I wouldn't recommend long-term rentals as these can take years to build up enough cash flow to quit your W-2. Short term rentals, wholesaling, flipping, and getting into the agent side of things are some options that will get you there much quicker.

I think the most valuable part of practicing for now is learning where to plug in your numbers so when you do find a deal you're interested in and have estimates from your contractors you can easily plug the numbers in and let your team know if you're going to move forward with the deal. 

Most of the "lipstick" repairs can be easily estimated. I would get on thumbtack and hit up a few companies to see what they charge per sqft on some remodels such as luxury vinyl install, paint interior/exterior, bathroom vanity install should be a few hundred bucks, lighting fixtures should be about $100-$125 each, cabinet painting should be somewhere between $400-$800, countertop install you could look at materials online and see how much a local contractor would install for, etc.  Having a rough estimate of some of these repairs will help you practice for now.

Hope this helps!

Great book!