All Forum Posts by: Matt Nico

@Melvin List

I actually figured it out. We used my tax return showing my rental income along with my wifes W2 salary to qualify. The big banks all say no but we found a small local bank who funded it no problem.

The process was actually so smooth we did 2 HELOC's last year with them back-back.

 Sure. Here is one of my listings. Its in a community right around Reunion, Solterra, and Providence.

https://www.airbnb.com/rooms/49933062?guests=1&adults=1&s=67&unique_share_id=8c31f92b-8ddd-4ef9-a5d2-d32d15b99bf4

Shannon,

I own 3 different STR's in 3 different communities of the Kissimmee/Championsgate/Davenport area. I personally avoid the Storey Lakes, Reunions, Windsors, and those other huge communities...The price-points are becoming too high there.

I invest in the surrounding communities with less amenities and lower HOA's. The return is much better in the surrounding communities, especially if you theme your home correctly....In essence, your home becomes the attraction rather than the community amenities. I have rehabbed all 3 of my homes in-house. If you'd like, I can share my listings and numbers with you so you can get an idea of how they perform :)

Happy Housing,

Matt

Eddy,

I would refine your search criteria if I were you and let everyone know what you are looking for...A $250,000 condo thats a 3-2 is much different than a 10 bedroom 1.2 million luxury mansion. I work a lot in the STR community....And I will tell you that if you dont rehab your property correctly you are going to be very disappointed with your results no matter what you buy. Here are a few different options for you for STR:

Best/Most Expensive communities:  Reunion Resort championsgate, Storey Lake Kissimmee

Lesser Expensive:  Championsgate resort, Windor Hills, Solterra, Providence

Least expensive: The surrounding communities of all of these communities. A few examples you can search for are Pinewood estates, Cypress Pointe, Hampton Estates, Ext.

Hope this helps,

Matt

@Natasha Jansen

I own 2 homes in Kissimmee. Which community did you choose to go with? The homes are a bit older in some of the Kissimmee communities but getting that better bang for your buck with the larger models is sweet. I have a 6-4 in the area and its one of my top homes.

@Neelima Jadapalli

I live and invest in all of the surrounding areas of Reunion. I have looked into purchasing in there but with the recent runup in housing prices and the $600+ HOA fee for that particular community, its tough to justify the purchase.

In my opinion, its better to pick a neighboring community with a low HOA (and less rules) to purchase a short term rental or long term rental.

Hope this helps,

-Matt

@J.C. Martel

Those numbers are semi-accurate with a 20% down. Ive been buying a lot of homes at over asking price with seller financing where I put down less than 5% and im still cashflowing about $800ish so id say eith putting 20% down its about $950-$1,000 a month. I am not accounting for CapX as well just so you know.

-Matt

@J.C. Martel

The best sweet spot is to buy a 4-3 that has a 5th flex room that you can turn into a bedroom or just a straight up 5-3. The 3-4 bed homes dont usually cashflow enough.

Also home prices have shot up about 20% since this thread last year. Before the run up i could cashflow about $1,200 or so. Im at about $800-$900 now.

Food for thought :)

-Matt

 Hi Christine,

You are more than welcome to bounce any ideas off of me if you have anything in particular that you want to know about the Disney market... I'm in the Championsgate area. If you like STR, I am finishing up a rehab you are more than welcome to stop by and see to get an idea of a neighborhood and a construction job.

-Matt

Ryan, this is awesome man. You did to that house what I keep suggesting to people with the game rooms and themed bedrooms. You must be cash-flowing at least $3,000 a month I would assume right?

I have 2 in the area myself. Can I ask where you got your arcade games from? I have been finding stuff on Facebook marketplace for a while but I want someone who is a professional and a technician to fix them if anything goes wrong.

-Matt