All Forum Posts by: Mya Toohey

@Shawn McCormick  
Most Orlando neighborhoods actually promote STR. They framed it inviting to fault owners from acquiring additional wealth. Some investors find it unfair that there are "said" investors better at discovering and utilizing resources to their advantage.

Start with identifying the "Primary Subject" property. Then, diligently cross reference it with all available "Vacation Sites" (search using the subject property address) The owners/ Hosts info will pull up in a general search of what's close. Research each listing from all platforms and you will see trends, Discriptions, Inticing or family friendly Waze to attract attention to the property. Only appropriate and pertinent info will attract the upper echelon of respected guests to visit your STR. Less is more. Simple, classy, retro & even vintage decor is bring in the big moola. Even if I had the bank roll to bling out a spot, I would never waste it on the important things your guests will make everlasting memories with. HOA is irrelevant in these cases. Once you put some effort into finding out the Minutes and By-Laws from the association, you throw that HOA out the window knowing that your thought out investments profits outweighs the HOA by 50% Ya'lls ROI can't be beaten any more. That HOA gets long forgotten. There are multiple similar names and areas, so please use caution when comparing vacancy rates, nightly rate trends and sleeping capacity. Does the listing show that it's business, vacation destinations nearby and has room for a family of 4 to be accommodated for? Oh, and don't forget the 5th, their dog. Not only do you need to know St. names and subdivisions which gross more revenue, and for Pete's sake, the condo complex will allow you to utilize their resort style pool and quant lounging area with multiple TVs and the liquors a flowing. It's all about a vibe. Does the STR make you feel at home? Does it have the take your shoes off and rest a while enjoying the fancy rolls of TP you never splurge on at home? No matter, where, when or how a STR is made, it should always be the place everyone wants to call home after traveling 1000 miles which is never too far if you really enjoy the ambiance, amenities, unwarranted surprises and mindful upgrades your STR holds. To top it off a family friendly excursion to Universal while making lifelong memories. Will I always give the best advice, maybe, no. I will keep it real and be glad to answer anyone needing additional resources when I have my a chance to share the wealth with like minded and passionate individuals like myself.

Sure, I can take a look. I'll DM you info. 

@Robert Smith. Would you consider a renovation or BRRRR in the Clearwater, Saint Pete and Tampa Bay Area of good 'ol' sunny Florida. If you ever come down. I'll meet you for coffee!!! Best of Luck!!!! Utilize your local gurus most of all. Outside trends and selling tackets don't always work in every market. Find a GREAT Realtor and have them run CMA's. (Comparable Market Analysis) and they can be your boots on the ground. Pay them per task if needing quotes or contractors met. You know, all the extra that we as investors would do ourselves had we been on site. You can find one here on the Bigger Pockets resources. Cheers!

I had my account messages deleted for the last 6 years....  did this happen to MORE of US, OR just ME????

@Ying Tang Congrats on your new adventure! You have a great foundation started to be very successful in REI. I am in the Tampa area. It also includes, Clearwater, Saint Pete and surrounding beach areas. Since the storms hit us hard, we have an influx of flood damaged homes at fractions of the pre-storm sales prices. I work closely with a contractor that can do the work for you as well. So, I can make it a seamless process and have your already tight knit team ready to get the job done. I would be happy to chat!?

Facebook is a good place to find Tradespeople. You need to join the right groups. I am part of Tampa Bay Contractors, Tampa Realtors, Tampa Investors Meetup,  and so on for your specific area.  All of mine are in Florida and as stated above, you have to very careful who you choose to use for your projects.  Most professionals that have investor friendly pricing, don't have offices or bougie marketing. Just google profile, cards and simple websites.  They (in my experience) always have lots of photos of past work on their Smart Phones ready to show off.   

@Benjamin Lingo

We, my partner and I have been thinking about some big moves with investing.  We haven't been able to sit down and really focus on what will be the best investment project...but...we should get on a zoom call and discuss it in more detail.  Especially, if you would consider doing some out of state investing!  We have funding options and could also run the project with our resources that we have in my area of Florida.  We can discuss the wheres and who's if interested! 

I am in Florida but Hello! If you ever think about coming to the Tampa area, I can help you enjoy a sun filled winter! LOL! 

Wow that sounds like a huge project!!! Good for you jumping in like that!  Have you looked into mobile home parks or tiny home villages.  With the lack of housing and the cost of everything going up, more moderate practical housing spaces might be a thought.  You would basically offer the same set up utilities but you would have a residual income monthly by renting the plot to the owners of the space.  I am in the Tampa Florida market and they make a killing here and are worth their weight in gold to the owners of the community.  

Well, you came to the right place to ask that. I would also contact the tax pros in the header and get their opinion and maybe utilize them for that reason. It really makes a difference when you use pros that specialize in REI and how they can help your money work for you. It really all depends on the amount of risk you want to involve yourselves in. I am in the Tampa Florida area and MTRs and STRs are a big thing here. We also have a huge LTR market. Find a good real estate agent that is also an investor specialist and they can help you navigate what will get you your best ROI for your situation.