All Forum Posts by: Ravi S.

hi
In Miami Lakes, I have a 4 bed, 3 full bath, with pool & lake single family home for which I would like to put on Airbnb / Short term rentals.
this is my first time, I request all to please guide me.
I have never done it.
Don't know what to do , what not to do.
Would you please guide ?
thanks

Investment Info:

Condo buy & hold investment.

Purchase price: $108,000
Cash invested: $60,000

Bought
Complete renovation
new 2 bathrooms, new floors, new kitchen, remove popcorn ceiling,
new paint

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

to get experience in a complete rehab job

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

MLS
negotiation with the buyer

How did you finance this deal?

standard mortgage 30 year

How did you add value to the deal?

by doing a complete rehab

What was the outcome?

good completely new unit
which will be zero maintenance for next 10 years

Lessons learned? Challenges?

no need to do popcorn ceiling
could have saved 4-5K on rehab

I booked & paid twice
however haven't got a confirmation yet.
would you please help ?

Quote from @Donna M.:

Underwriter says I can't be listed on renters policy as ADDITIONAL INSURED.  Twice tried, both times was only given additional interest.   Agent says she can't give me name or phone number of underwriter.  Gave me Progressives phone number.  Got no where.   Anyone else experience this. Agent said she requested additional insured but the company won't write it.

call Shobha Gurbani she is a good insurance agent
786-877-4496

Hello Friends,
trying to evaluate investing in Single Family in Austin, Liberty Hill, Georgetown, Texas.
Past year has been great price increase which is highly enticing.
Only two things are the rents are 1600-1900 for 3 bedroom single family home wont cover the mortgage+HOA+Pest control of 2500-2600
and
the builders are building houses in huge huge numbers so is a glut or over supply coming ?

Request all friends to share / voice their views.

Thanks in advance !

Ravi

True, I agree

it is better to be proactive then be reactive.

The market that we see today might not continue for more than a year.

We need to think, how can we profit from current market & at the same time prepare for the impending downturn coming just don't know when.

@Salvatore Lentini true

Thanks

@Joe Villeneuve thank you

You are genius

How can we talk?

My number is 305-926-9154

@Joe Villeneuve 435 into it

I own a SFH.
Bought it in 2009 at 385K + 50K in rehab = 435K
Current Market Value 785K
Current NOI = 32K Annual = 7.7 % Cap Rate on my investment, 4 % Cap Rate at current market prices

should I continue holding it or sell it or other ideas?
I am open to ideas.