All Forum Posts by: Mike Shulman

What kind of rates are you quoting at the moment?

Quote from @Alex Bekeza:

• How to Request a Free Quote - Short Term Rental DSCR (please put STR next to your monthly rent number)
• See what my Bigger Pockets clients are saying -- > Client References
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Quote from @Melanie Hernandez:

@Sarah Kensinger for my first investment I won’t be purchasing the property. I will be subleasing. A condo 3B/2B at $2,200/Month. Fully furnished. 15 minutes from Disney.

Arbitrage in Orlando typically don't go together. There's a specific area of Central Florida that's for short-term rental and they were purpose built and rented for that reason. Make sure this property specifically zoned for short-term rental, otherwise you're going to get shut down and be stuck with the least on a property you don't want. Then you have to ask yourself the question, if it is zoned for short-term rental why isn't the person that owns it using it for the best and highest use. If it made more money as short-term that's probably what they be doing.

Hello Sean, I've been helping people buy short-term rentals in the Disney corridor since 2005. I currently own eight of my own str  properties and I have helped hundreds of people purchase over the years. I have some great tools like AirDNA to help analyze the properties. If you'd like to jump on a call and see if we're a good fit, feel free to send me a private message. I'll be happy to help.

Hey Anthony, I sent you a PM. We would be able to assist in Sanford lake Mary area. 

Quote from @Chad Shultz:

There are quite a few rules about STR in the Ormond and Daytona areas. As long as you follow them, you'll be good and the money will flow. However, you are fooling yourself if you think you will just STR any beach property. We have two STR focus groups in the area, which I recommend you get involved with, before you pull the plug on a property. STR is not allowed in Volusia County, so just be cautious.

Would you mind sharing those groups you were referring to?

St Pete has a 30-day minimum rental. There are parts of town that exclude those rules but it is a bit of a needle and a haystack. Unincorporated Pinellas county does not restrict and you could find areas in St Pete that are unincorporated but it's very difficult. I work with a great realtor and then area that knows the ins and outs. I'd be happy to connect you if you're interested, just send me a PM

Quote from @Zach Placek:

Quote from @Mike Shulman:

Unfortunately St Pete restricts short-term rental. You have to adjust your market to a different town and to find one without restrictions. Largo is a good option

May I ask what types of STR restrictions they have in place?

Unfortunately St Pete restricts short-term rental. You have to adjust your market to a different town and to find one without restrictions. Largo is a good option

I know both communities pretty well. They have a lot of similarities and a lot of differences. Reunion is more of an experience and champions gate is more of a town. If you own in reunion you are not allowed to self manage and you have to use one of their three preferred Management companies. You are allowed to use anyone you like to manage in champions gate. Not all properties in champions gate allow short-term rental so you have to be careful. In my opinion reunion is better for golf as they have three courses. They also have some amazing amenities like water park.  Feel free to PM me if you have any more specific questions. I've been dealing with properties in reunions since it was built. Would you believe they used to fly people in on helicopter to check it out at their original launch celebration. 

I'm very familiar with the rules in these areas. Cape Canaveral does not allow short-term rental so it is not a viable option. Cocoa Beach and Melbourne do allow it but they have to be in designated areas. There are specific maps that show where they are allowed. Send me a PM if you'd like more insight like potential returns. 

I typically use a combination of data rabbu which is free, air DNA which I have the entire country package, awning and Air review. Each of these will pull up comparables that I then use the enemy method to analyze. So I'll take all of the data I acquire from all the programs and then analyze it piece by piece. If you plan to make an investment for a few hundred thousand dollars a few hundred that shouldn't be something to stop you. If anything it should encourage you to spend a few hundred dollars so you don't mess up with a few hundred thousand.