All Forum Posts by: Ryan Tolley

Hello everyone,

Does anyone have recommendations, or had any luck securing a HELOC on an investment property or on a 2nd home? Any advice you can share would be greatly appreciated. I've got a great deal of equity to work with, but I'd rather not do a cash-out refi.

I'm located in Tampa, FL with properties in Indian Rocks Beach, FL. 

Thanks in advance.

Great info @Kerry Baird! Thank you!!!

Hey everyone! Thanks for the kind words @Dan Maciejewski ...I just wanted to chime in on a couple of things that I've seen in the forum.

1. Management fees will always vary from company to company. At the beach specifically you can find anywhere from 15% up to 40% (and yes, there are people that for some reason pay 40%). The important thing is to always get these companies down to an apples to apples comparison by researching exactly what is included in their management fee. Many companies will say their management fee is a certain percentage and then when random fees are added in they end up being 10-12% higher. Think marketing fees, credit card fees, house visits, toiletries between each guest, batteries, light bulbs, propane refills, etc. Always put every company on equal footing when making a decision to figure out true value. Then you need to ensure that the revenue drivers are going to be comparable (where and how they'll market the property).

2. Gulfport is a 30 day minimum rental zone outside of the commercial area along the beach and up the main street. @Dan Jennings ...There are some rentals in the properly zoned area, but most of the people in Gulfport are operating outside of the zoning restrictions.

3. Zoning in general can be tough to overcome, but remember that HOA's (condo investments) always set their own restrictions, so regardless of what the city has set their zoning as for single family homes you can get around that by investing in a rental friendly condo to get into the exact location that you'd like.

Thanks @Dan Maciejewski ...rough is not a problem! I can deal with that, it's just reliability that I'm struggling with!

Does anyone in Pinellas County have any recommendations for general maintenance help? Anywhere along the beach area from Clearwater, Indian Rocks Beach, Largo, Treasure Island, or St. Pete Beach.

Thanks in advance!

Hey @Matthew Ferguson ...That depends if you're thinking of going the LTR route in the city of St. Pete, or trying to do STR (vacation rentals) in the St. Pete Beach area. It's critically important to make sure you know the exact zoning in regards to minimum stay requirements before you go too deep into a property. St. Pete Beach has varying STR rules in different areas, and each condo HOA sets it's own stipulation on 3, 7, 14, 30+ day minimums.

I'm glad to help with info, or potential rental estimates for properties you're thinking about on the STR side. Just DM me if you want any additional data.