All Forum Posts by: Wesley Myers

Seriously considering adding a spa with our pool build in the fall. I see a ton of rentals in the Orlando market with a pool/spa combo. Not that many up here in the Panhandle but I think it’d do well. 

How do you manage this for your guests? Do they control spa/pool settings? Do you? What about temps? Is there a WiFi option with your system? I’m struggling to find info on how we will manage this from a far if we add the spa but I think it will increase our chances of bookings especially in the spring, fall and winter. 

Thank you both. I’m concerned about operation of the spa/pool for guests. Does a built in spa add another level of “headache” that I would have to deal with? Are your renters controlling temps, when it is running, etc…? How do you manage that?

Getting quotes on a pool now for our STR. Option to add a spa for about $8k more. Should we do it vs a stand alone hot tub? How difficult is it to manage vs just the pool for guests? Any info would be greatly appreciated.

Purchasing properties in a vacation destination has its challenges. What tips do you have for purchasing properties specifically when you’re up against other investors? I know cash is king but we don’t have that luxury.

Living in our target market helps because we’re able to view the property quickly. What about motivated sellers? Easy way to find out if they’re trying to unload it quick? 

I foresee this becoming more of a challenge in the near future if prices dip more. 

We’re highly considering a fiberglass pool over concrete due to installation timeframe and about half the cost of concrete. Any negatives that you are aware of?

Bay county is monthly. Will have to check into it. 

So in FL can VRBO collect and remit all taxes including county taxes? If so, I need to figure this out. Having to log in and remit taxes on 2 different websites each month is a PITA. 

Very helpful info so far thank you. She passed just before Jan 1 2020 so we’re under the old rule. I should clarify I withhold 10% for taxes you are correct it’s not a penalty. 

I have a unique situation with an inherited IRA from a sibling that passed a few years ago. I could potentially purchase 3-4 units (down payments) with funds from this account over the next few years still leaving a good amount in the account.

My main question is how would you analyze if this would be a good idea or not? Feds get 10% right off the top for whatever comes out of the account but I’m required to take a small amount out yearly as is. I understand diversification of your entire portfolio but would this be a “smart” idea?

Looking to the future with the goal in mind for managing my rentals vs working a W2 job with benefits what are you doing for healthcare insurance?

My current state job has great insurance for our small family of 3 but one day I envision this changing once we reach enough properties. 

How are you handling this?