All Forum Posts by: Matt Pastier

Hey Mariangela - I would echo what others have said about making sure STR's are allowed where you are looking. Another thing I've done is to go onto STR sites, and check out a couple things. One, see how saturated an area already is and what the rental rates are. You might find saturated areas at prices that don't make sense for your numbers (not profitable). Then check availability - are they being rented or are there a lot of days empty for that time of year? It will give you an idea of what your competition might be like, and for those being rented a lot, what amenities seem to be popular that would get the most rentals. Hope that helps.

Welcome, Seth!

Welcome, Paul! I'm an agent in the Orlando area and happy to be a resource if you ever need one. I left corporate about 4 months ago to do real estate full time. Good luck!

Welcome Jerome!

@Austin Wood I was just about to post a similar topic. I received a complaint today from a tenant that their neighbor across the hall started putting partially smoked cigarettes on their door frame to finish later. He is a tenant I inherited a few months ago and has been a headache. I called him tonight and told him he had to stop because it was a fire hazard, and also that he couldn’t smoke in his apartment. My wife then reminded me that the previous owners lease says nothing about smoking. She was right - the lease only referred to illegal substances. Super frustrating. But, it’s good to know there’s a product that will help get rid of the smell when the lease is up.

@Caleb Brown You could look up the address on the auditors website and see who owns it. From there, you could send them a letter, try to find them on Facebook, etc. You could also let the PM know you are interested in buying and see if they’ll connect you with the owner or relay the message for you. If they won’t just move on to the next one.

@Caleb Brown Look for “for rent” signs or rental ads and call them. Let them know you’re an investor and you’re curious if they’ve considered selling. We bought a 4 plex this way a couple months ago. There are lots of landlords that want to get out of the game, and vacancies are high stress times when they might just want to offload the problem. In our situation with the 4 plex, the owner is close to retirement and wants to start selling them off. It works!

@Scott Trench Just about everyone has a video camera on their phone. Why doesn’t she record this behavior so she has documentation for the police? That would be my suggestion to her to try and be helpful. I agree with the others that there’s not much you can do as the landlord if it’s not a violation of your lease.

@Daniel Mendez It has been on the market for about 5 months. There was definitely pushback and the first time around I had to walk away because we couldn’t get to the price I needed. 4 months after that he was desperate to sell and he came around to my offer. Real estate investing takes patience. Some deals, like this one, can take a long time to close. I did a write up about this deal in more detail on my profile if you’re interested.

@Zackary Mlynarczyk The bank I work with will count rent to offset my DTI if I have leases to show. Some banks will want to see the income in your tax return. You should talk to a bank or mortgage company. Get preapproved so you can see what you qualify for. If you don't qualify find out why, and you'll then know what you have to work on or change. Good luck!