All Forum Posts by: William Beck

@Alec Newman Check out Hamlin/New Concord, KY on VRBO. I've seen some very interesting performance out of this area. By interesting, I mean making lots of $$$. PM me if you want to figure out a time to chat further and I can point you to someone who can assist much further.  

@Mark Holmes 30 Day Min Restrictions from HOA's! I can't stress that enough. That is generally the deal breaker for the most investors I've worked with. Really, HOA restrictions can be very strange on lots of potentially good looking investment properties for gulf coast Florida. "Only 6 different rentals or tenants allowed per Year", "2 week Min Stays", "30 day min, 55+ community only". "6 month min.".... The more headache involved with any restriction to use your property how you'd like to use it creates friction with the association, potential fines, lawsuits, and they can even start hassling guests.
Also, ROI tends to go down the closer you get to the beach as even if there are HOA's that allow vacation rental. their fees and and higher price you're paying to acquire the property generally don't make it investment grade or cash-flow worthy and most likely be breaking even or offsetting some costs.
  Other than that, if you get something that is a good price, has a pool, free and clear to rent it how you want it > with it being located centrally in the state of Florida it will have a nice comfortable climate for getting steady occupancy throughout the course of the year Vs. Southern Florida where it becomes a swampy hell in the summer time, or northern Florida where it will get a bit chilly in the winter months. Good luck with your search and hope you get an agent that knows what's up. 
   

@Nadia DaggettThis answer is market dependent. 

I think one idea to capitalize in certain heavily seasonal markets that I'm imagining you are referencing is a hybrid model. For Phoenix, Southern Florida, and to some degree Coachella Valley (Palm Springs/Palm Desert/La Quinta - although I despise their regulatory environment and would steer people clear) you could have your vacation rental rented in peak season, as such, to get all the upside that comes with it. Then block your calendar for the very slow months. Since those are all seasonal snow bird heavy markets, they will have high occupancy Nov-April and get peak daily or weekly rates. Then in the offseason, since your calendar is blocked, just seek out a tenant in the form of a corporate rental, traveling nurse, or someone looking to relocated. That would even allow you to undercut you monthly rental rate if needed to basically guarantee you'll get a tenant for the dead season. 
Using a Phoenix 2BR as an example, if you're pulling $3000-$4500 / month as a vacation rental for those 6 months and then the going rate for a long term lease in the area is $1500/month, you could get a tenant in there for $1300/month for the slower 6 months and still be making way way more than just solely doing the corporate rental strategy or the vacation rental strategy. Just an idea. 

The only barrier to entry sounds like the management side. Airbnb doesn't really get too picky with listings that come on their platform, as long as you're a good host. I think tiny homes might be a little safer in that they could be potentially insurable whereas what's the insurance for a glamping yurt/teepee if a family comes and they get attacked by some wild animal and want to sue you? I would imagine seasonality would be a factor too where the yurts or whatever type of camping set up you have may not provide shoulder season comfort  whereas a tiny home... may? I have seen some incredible tales of tiny home owners that bought a decent prefab with good interior amenities pulling in $20k/year and costing $60-80k. Just saying. 

Poconos is ultra hot right now, but it's also a great market for what you've set up.  I'd continue to hold onto it and maybe do a heloc to get a separate one. Just because the values for your property might be juicy to offload it, it still sounds like a good asset that will remain in high demand. When I did nationwide consulting, I said Gatlinburg, Branson and Poconos were the top 3 destinations for this real estate niche and that really hasn't changed too much in the past couple of years other than more people flocking to these markets in massive droves driving prices up. There are up and comers but the fundamentals for market tourism, regulations, ADR/occupancy curve, property prices could potentially just be a set of different pros and cons. I'd keep it personally from the sounds of it. 

Rich Dad Poor Dad. Kiyosaki changed my life. Honorable mention to the 10X Rule by Grant Cardone.