All Forum Posts by: Wendy Fate

Off Market deal.      Sale Price: $280,000

Monthly Income: $2,800/mo

Monthly Expenses: $990/mo

CoC ROI: 7.63%

Only selling to scale our STFR business. We want to use the cash for the next bigger project. This property is well maintained with new A/C and appliances. No issues with anything. Great HOA, great neighborhood and neighbors.

Coveted Large luxury 1 Bed/1 Bath 1,011sf

condo in Stuart, FL. Martin County borders Palm Beach county to the north and is a wealthy oasis of beautiful beaches, shops, restaurants, spas, services and Cleveland Clinic hospitals.

Snowbirds love this space and book ahead for season one year in advance. Travel nurses love it, buyers relocating to the area love it, professionals on contract with Northrop Grumman at Witham Field or work from home travelers go on and on about how much they love this space. We even had a couple from the west coast book for a year just to have a place to stay when coming to check on aging parents. The community is friendly and welcomes our guests as their own.

1,011sf Upper, end unit with Full size kitchen, laundry room, vaulted ceilings, huge bedroom with large walk in closet. Large climate controlled patio with roll out windows. Plantation shutters, tile, wood laminate flooring throughout. No carpet. Reserved covered parking at your door. Lake view, near the heated pool and clubhouse.

Fully furnished for Airbnb longer term stays. 3 month minimum lease per association. Can be rented right away, no 2 year delay like many other communities in Martin County. All ages welcome. (check age restrictions and rentability on all comps) Pet friendly for owners and renters, also rare, and this HOA allows trucks up to 3/4 ton. This is a hard to find, one of a kind property for investors in desirable Martin County. Operate everything from your phone using the Smart Thermostat, Yale Nest wifi keyless entry and Blink camera for easy self check in. Exceptional cleaning professional handles guest turn overs and maintains the property.

Currently rents for $2,800- $3,000 off season. $3,800/mo for Jan/Feb/March/April

HOA $507/mo covers Water, Sewer, Trash, HD Cable, Maintenance of building exterior, pool, tennis courts, club house, landscape, grounds, building insurance, paving, parking, etc.

Total expenses average $1,000/mo for Taxes, Insurance, HOA, electric and wifi.

New HVAC, 1 year ago, with warranty. New SS French Door Fridge with water and ice on the door. New Bosch dishwasher. Newly renovated bathroom and updated kitchen.

Indian Pines is centrally located in the heart of Stuart. Walk to shops, restaurants and parks. Bike to the beach.

This property has been amazing. I truly have no issues or complaints with the HOA, the building or the people. We used this property to vacation in it ourselves and have made it a truly gorgeous place. We manage it from TN and have never had an issue. Easy as it gets. We just need the cash to scale up with our next big project. It will be a great cashflowing property for another happy investor.

Call, text or email me directly with any questions. I am the owner.

Wendy Fate 423-534-5017 [email protected]

Property address: 3071 SE Aster Ln #204 Stuart, FL 34994 Located in Indian Pines. See attached BP Rental Property Report with numbers.

BP Rental Property Analysis https://www.biggerpockets.com/...

YouTube virtual tour: Large Luxury condo SE FL coast

https://www.biggerpockets.com/analysis/rentals/6e8fe474-7c4f-4461-a51f-4e4277fa2a65

 Thank you for your comment. I totally agree that a 16 y.o. can babysit. It is not illegal. The only thing TN law has to say about it is that children under 10 should never be left alone and teens can be left for short periods. Overnight is a bit different.  

Again, not a problem in her own home/LTR, if that is what she has to do. I'm pretty sure hotels would not allow it. I do feel for her situation.  I have refunded her money. I can't help that we are not a fit. I explained all about the property and why I was concerned,  before letting her apply. I also have a responsibility to my other guests. 

 Again, that is up to her, that is right. Just not a great fit for our shared space. 

Not sure where the judgement is coming from for making money house hacking? We have been providing a much needed service for many grateful guests needing short term housing in a safe, comfortable home. I work hard to match guests upstairs and down to give them the best possible experience.  I do have to inquire about their schedules and lifestyle to make this work, kind of like shared housing. I don't put a night shift person with a barking dog at home alone above someone trying to sleep downstairs.  It's a bit of a unique situation,  but we have had only happy guests who often extend long term. We hope to sell at some point and get into a conventional multifamily,  but for now, this is what we have. It has worked so far.

Wow, so much great feedback. I guess you are all correct. I thought the STFR space might be a little different, or at least the fact that we also live here in our own private unit. We are house hacking our 8 bedroom house, split up into 3 units. I read somewhere we don't have to allow emotional support animals since we live here and it is less than a 4 unit, or something like that. (even still, we made the decision to allow pets) So, I guess I didn't think we had to allow just anyone in this space, with other guests right above them in the same house. It feels like a bit of a gray area, but you definitely opened my eyes to some other perspectives. I will just refund her now and sort it out.

I do understand that a 16 y.o. can legally babysit and in a LTR it would never be an issue. I would have left my 16 y.o. to watch her brothers, as well, so I understand that, but that is in my own home, not someone else's home with other renters. Is it really the same with STFR?  We are allowed to have a policy of not renting to guests under 25 y.o. on airbnb. 

Have you ever had a travel nurse who wants to leave her children unattended in your furnished rental overnight for a 13 hr shift?  I was told that they were bringing their 18 y.o. daughter to watch her 3 younger brothers, ages 5, 12 & 16.  She signed a lease for 5 people, listed them all on the application, but showed up without the 18 y.o. and said she would not be coming.  

I only agreed to let them apply based on the fact that an adult would be with the children and they would not be unattended in my space.  She claims that the lease says nothing about the children being left alone, which is true, however I was very clear in the phone interview that I would only agree if the 18 y.o. was supervising. She argues that 16 is legal age to babysit and I did not list it as a house rule. Also true.  I didn't think I needed to state that children cannot be left alone.  After all, she seemed to understand this based on the fact that she was bringing someone to watch them while she is away at work.  It now appears that this is what she does and was all just a strategy to get into a place.  I think I am dealing with a professional.  It is very likely the daughter was never coming to begin with.  She says she has been doing this for a while now without any issues, and that she always leaves the 5 and 12 y.o. with their 16 y.o. brother.  

She only told me the 18 y.o. was not coming the day before she was to move in, to which I said I was not comfortable with that.  I am trying to fill the space and let her out of the lease.  I have returned her deposit to her and will refund the full month's rent as soon as I fill the space, hopefully today.  I feel that was very fair. 

Lesson learned, I guess.  She is still blowing up my phone saying she needs her money back now, that she never moved into the place and it was not in writing that her children could not stay home alone.  She found somewhere else to stay, so that's not the issue.  I am happy to return her money, even though she signed a lease under certain terms that she presented herself as having childcare.

Am I being unreasonable? I feel that it is a huge liability she is asking me to carry.  She can leave her children home alone in her own home if she wants, but not in my fully furnished vacation rental.  What if there is an accident and they need medical attention or the 16 y.o. can't get his little brothers to listen to him and they trash the place or stay up all night making noise for the guest upstairs, or worse, they try to cook and burn down the place with other people in it?  We have smart TV's in every room with Wifi and access to any content they want. I would be worried about this as a parent. I guess we are not a good fit for families if they do not have childcare. New policy.  I will be sure to list that in the lease next time and not just discuss it verbally.

I hope that helps someone who may end up in a similar situation.  This was a new one for me.

Thank you!! I will do that.

https://www.biggerpockets.com/...

I'm selling my Short term furnished rental in Stuart, FL. Wanted to give my investor friends on BP first look.  

Sale Price: $300,000

Monthly income: $3,000

Monthly expenses: $998

Exquisitely furnished with all essentials.  Rented as Airbnb for 5 years with rent rolls and tax returns.  Totally turn key.

Beautiful south florida coastal community just north of Palm Beach.

Contact me for more info. and pictures.

Wendy 423-534-5017

Everythings conveys!!  All appliances, furniture, furnishings, bedding, kitchen items, Keurig, vacuum, etc, etc.  Airbnb ready.

Sale Price: $250,000

Available Sept. 1st, with or without bookings.

It will be vacant on September 1st, but I can get it leased up right away if desired.  Decided to wait until we know who is buying and what they prefer. Jan-March 2023 is currently booked at $3,000/mo with return guests, but they understand that we might be selling. It's up to you if you want to purchase it vacant or booked.