All Forum Posts by: Patrick Whyte

It's a starting point. Of course, the virtual numbers that the tool spits out have to be validated "the old fashioned way" by confirming the assumptions the tool is making (comps for daily rental, occupancy, vacancy rate, seasonality, etc.) To answer your question (which is a good one), I am trying to make my searches efficient.  I want to filter out the "1.3%" properties so I can focus my attention on properties that warrant further due diligence.

Does anyone have a recommendation for a tool where I can filter properties based on a CoC minimum? Mashvisor does it, but the usability quickly breaks down. Thanks.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $584,000
Cash invested: $116,000

This pet-friendly 3-bedroom, 3-bathroom house overlooks Aunt Patty's Pond and is adjacent to Dennis Pines Golf Course. The first floor features a renovated kitchen with a large island, connecting a cozy sitting room, a living room with a 55" TV, a dining area, and a spacious back porch. A full bathroom is conveniently located off the mudroom beside the kitchen. Upstairs, the bright master bedroom has a king bed and en suite bath, There are two other two bedrooms—a queen room and a twin room.

What made you interested in investing in this type of deal?

This is more of a 2nd home with a buy and hold strategy.

How did you find this deal and how did you negotiate it?

We worked with a local realtor, and fell in love with this place.

How did you finance this deal?

Coventional, 30 year, 20% down, 3% interest (those were the days!).

How did you add value to the deal?

Added a primary bath to create a true master suite. Extended the kitchen island and added a wine fridge. Added outdoor shower (a must on the Cape.)

What was the outcome?

We "lose" money on a cashflow basis, but completely comfortable with that as this is more of a 2nd home that renters help us pay for. Plus, gave us the real estate, STR bug. Lastly, appreciation has been roughly 58%. Fully understand this was due to "Covid Bump", and not typical results.

Lessons learned? Challenges?

It's all about guest experience. Jump on issues immediately. It goes along way with your guests.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $584,000
Cash invested: $116,000

This 3 bedroom 3 bathroom pet friendly house overlooking Aunt Patty's Pond is also adjacent to Dennis Pines Golf Course! The first floor of this private home offers a bright renovated kitchen with a large island centrally located between a cozy sitting room, the living room with 55" TV, a dining area, and the spacious back porch. A full bathroom is conveniently located just off the mud room beside the kitchen. The second floor holds a bright bedroom with a king bed and en suite bath, a restful room with a queen, and a comfortable bedroom with two twin beds as well as a full bathroom. The walk out lower level offers an additional room with two twin beds, a game room, and another TV 50" area with a pull out sleeper sofa. Unwind in the outdoor shower. Relax in the air conditioning after a day at the beach. Prepare a feast with loved ones in the well stocked kitchen but most importantly, make lasting memories in this lovely home.

What made you interested in investing in this type of deal?

This is more of a 2nd home with a buy and hold strategy.

How did you find this deal and how did you negotiate it?

We worked with a local realtor, and fell in love with this place.

How did you finance this deal?

Coventional, 30 year, 20% down, 3% interest (those were the days!).

How did you add value to the deal?

Added a primary bath to create a true master suite. Extended the kitchen island and added a wine fridge. Added outdoor shower (a must on the Cape.)

What was the outcome?

We "lose" money on a cashflow basis, but completely comfortable with that as this is more of a 2nd home that renters help us pay for. Plus, gave us the real estate, STR bug. Lastly, appreciation has been roughly 58%. Fully understand this was due to "Covid Bump", and not typical results.

Lessons learned? Challenges?

It's all about guest experience. Jump on issues immediately. It goes along way with your guests.

Investment Info:

Condo buy & hold investment.

Purchase price: $645,000
Cash invested: $32,250

1 bedroom villa is an ideal beach getaway. With ocean views and community pool access walk right off the screened porch to the beautiful, pristine beaches of the Isle of Palms. The bedroom features a King bed and TV and it connects to both the renovated bathroom with standing shower and accesses the screened porch. There is extra sleeping in the twin-sized daybed in the foyer area or on the comfortable sleeper sofa the Wild Dunes Golf Resort, located just 20 minutes from historic Charleston!

What made you interested in investing in this type of deal?

We vacationed there and loved the area

How did you find this deal and how did you negotiate it?

Zillow. With a buyer’s agent

How did you finance this deal?

5% down, 10 year ARM

How did you add value to the deal?

Updated the decor

What was the outcome?

Bookings have been good, but wondering how we can do better

Lessons learned? Challenges?

First full time STR

Investment Info:

Condo buy & hold investment.

Purchase price: $645,000
Cash invested: $32,250

New to the rental program, this charming 1 bedroom villa is an ideal beach getaway. With ocean views and community pool access, you'll be able to walk right off the screened porch out to the beautiful, pristine beaches of the Isle of Palms. The bedroom features a King bed and TV and it connects to both the renovated bathroom with standing shower and accesses the screened porch. Have extra company? There is extra sleeping in the twin-sized daybed in the foyer area or on the comfortable sleeper sofa in the living room. Come check out this beach-side paradise within the Wild Dunes Golf Resort, located just 20 minutes from downtown historic Charleston!

What made you interested in investing in this type of deal?

We vacationed there and loved the area

How did you find this deal and how did you negotiate it?

Zillow. With a buyer’s agent

How did you finance this deal?

5% down, 10 year ARM

How did you add value to the deal?

Updated the decor

What was the outcome?

Bookings have been good, but wondering how we can do better

Lessons learned? Challenges?

First full time STR