All Forum Posts by: Wes Mccullar

@Dado Vucak

yes it comes fully furnished

for expenses i have:

electric - $500

water - $100

cable/internet - $150

Pest - $75

Supplies - $50

i didn't factor in any cap ex because the roof was just replaced last year and the pool is brand new as well. the house looks to be in excellent condition

as far as lawn care and maintenance how much should i factor in?

@Dado Vucak

yes it comes fully furnished

for expenses i have:

electric - $500

water - $100

cable/internet - $150

Pest - $75

Supplies - $50

i didn't factor in any cap ex because the roof was just replaced last year and the pool is brand new as well. the house looks to be in excellent condition

as far as lawn care and maintenance how much should i factor in?

@Linda West

No intentions on living in it. Our goal is to build a short term rental business. We are extremely high income earners in our W2, and want to put our money to work.

@Bruce Woodruff

The house is beautiful! The pool and back yard area is incredible too. Comes fully furnished plus a 6 passenger golf cart.

Hello all

My wife and I are new to STR and we have been analyzing properties in several markets the last 2 months trying to find the right one to take action on. We were under contract a few weeks ago in coastal NC but that fell through due to termites an various other headaches we aren't prepared to undertake right now. We now need help determining if we should jump on the current opportunity we have.

The numbers look like this:

Miramar Beach FL, 4 bed, 3 bath. 2560 sq. ft. 2 blocks from the beach.

purchase price $1,275,000

10% down $127,500

$55,860 Closing cost

TOTAL money out of pocket = $183,360

Annual gross revenue = $146,000

Total Net Cash Flow after all expenses including mortgage = $45,600

COC return = 25%

would you all jump on this or would you recommend using that 180k to invest in maybe 2 cheaper properties? our sole primary objective is strictly cash flow. This is 100% strictly a business decision for my wife and I. We aren't going into this with the mindset of our family using it for any more than maybe 1 week a year.

Thanks all for your feedback

@Shawn McCormick

Im definitely interested for sure. Again we strictly looking at this as a business only. So wherever we can generate the most Net cash flow is where we will be most interested in investing. 

Good morning BP

My wife and I are new investors and have drilled down on the following markets and are ready to take action immediately in one of them. We just need some added clarity from those who have experience investing in each of them.

- Smokies

- emerald coast

- forgotten coast

- Orlando

- North Carolina coast (Topsail island, Oak island etc..)

We are planning to make this a business in the coming years but for our first property our main primary objective is strictly cash flow so we can begin scaling as quickly as possible.

Which market would you all suggest as being the wisest to invest in considering our goal? We are high income earners and have plenty of capital to invest.

Thank you all

@Christian Beyer I am interested for sure. Let me know when you have time to discuss.

@Arn Cenedella thank you again for the solid feedback. With our income it’s not out of reason for us to invest much more per year than that. Realistically we could probably invest 150k -200k per year. What would that look like in 5 years?

@Arn Cenedella great feedback! The main dilemma right now for me is time. I have a very demanding corporate career where I’m the operating partner for a large GM dealership and work a ton. The little free time I have is spent with the kids. My wife doesn’t work so she’s been taking the lead role on this journey to get us to a place cash flow wise to where I can eventually join her and pursue this with full focus.