All Forum Posts by: Sunny Alexander

Hi Sunny, If you haven't shopped your insurance rates in awhile I would suggest doing so. I would check every year or two for a better rate. Bankers recently abandoned Florida and many of their clients were automatically switched to another random insurance company at whatever rate they had. Other companies will raise your insurance too without warning. Any time your insurance goes up for any reason, shop it around. I use a broker but also check a couple companies on my own.

 I always tell people that Vacasa is a marketing company, not a property manager. Big difference.

I talk to investors with buyers remorse daily who are calling me to list their cabin. I usually uncover that they’re poorly self managing it. There’s value in having the property professionally managed. There’s also a huge disparity right now with those ‘top shelf’ properties getting the majority of the bookings. 

Real Estate Investing isn't what most people think it is...there's nothing passive about it and more people lose money in it than make it.  In our market here in Tampa Bay, prices are high and inventory is vulgarly low. Insurance cost alone went up 40% this year and it's doubtful that it will go down in the years to come; taxes are some of the highest in the nation especially for non-homestead properties.  I recommend NOT starting with where to get the money. First find out what part of real estate investing - including the industry at large - would be interesting/exciting to you and that could involve your sons (build that family legacy!).  Recently, a local roofing company sold for $11 MILLION dollars to a man living in England. That investor saw that roofing was a recession-proof business and that the demand was never-ending here in Florida.  Handymen are hauling in six-figures and the ones I use have a six-week backlog. A new AC owner is begging for people who want to learn the business and possibly partner.  And, then there's dirt:  do you want to be a landlord?  If you think you might, pull up the Landlord/Tenant Laws online for Florida and KNOW these.  Flipping/Rehabbing more your preference?  What skills do you have that can put into a project?  You might want to take a class or more at Home Depot/Lowe's - because the more you can do on your own, the further your money will go. Look up what requires a building permit and what the filing process in...it's all online. 

And, there's this...it's not about getting out of hospital life, I bet, as much as it is about getting exciting about life again.  Take the time to find out what skills you have that apply to the real estate industry, what segment would allow you to make the biggest/fastest entry from rookie to leaving skid marks, and LEARN.  What you don't know will hurt you.  This is not a business for the meek because what it really is - well, it's this:  Creating, building, running, growing your own business.