All Forum Posts by: William Kissane

Hi All,

I've come across a few few meetups here but wondering if anyone would be interested in setting up a new group? Feel free to share your thoughts. 

Hi Maddie,

I have some experience investing. I hold 2 short-term rentals and 1 long-term a couple hours north of where you are. I am down in Miami now, but happy to try and help you. Feel free to drop me a direct message and I can see where I can help. 

It's not easy with interest rates where they are currently, mix in the insane insurance premiums, management fees, cleaning fees, general maintenance, and margins are pretty skinny for most I would say. I just ran numbers on one of my properties, rev was 65k and we profited 5k by EOY. We reinvested a lot back into the property the 1st year on various small improvements, so this was to be expected. This is a self-managed property as well. Which leads me to my next point, self-manage the property if you can. This will help with your bottom line, now I know this is not feasible for everyone but if you can, no one will care for your property or business quite like you will. 

Feel free to drop me a message if you have any questions. 

Hi All,

I am looking for some guidance and help in connecting with locals in Broward County as I am looking to build a team of GC's, wholesalers and agents to start finding off-market deals in the area. I will be focusing on fix and flip's mainly but will also be buying and holding along the way. 

For the past few years, I have focused on short-term rentals and currently own and manage 3 in the Space Coast area. This has been rewarding but looking to scale at a faster rate. 

If anyone has referrals or recommendations, feel free to drop a message here or send me a private message. I greatly appreciate it.

I am also curious if anyone in this area has been to any local meetups? If so, which ones and I'm curious if you've had any success connecting with these types of people at any of these events?

For those in the area, that are in the same bucket as me, feel free to drop me a message if you'd like to connect and share ideas.

- Cheers!

Hi All,

I am looking for some recommendations for insurance companies/agents to help me get coverage for some of my rental properties located in Cocoa Beach. Thank you!!

Hi All, 

I am in search of quality partnerships in the state of FL (RE Agents, brokers, contractors, investing partners) to further build out my RE portfolio. I currently own two properties (1STR & 1 LTR) and under contract for a new STR all located in the Space Coast area.

I am seeking people who are knowledgeable on fix and flip opportunities as this is where I want my focus to be moving forward. I am eager to learn more about this side of RE investing. Anyone who is interested in a strategic partnership to find, invest or generally participate is greatly appreciated! 

Hi @Tchaka Owen!

I remember you as well! Yes, we are right in Hampton Homes and I figured I was priced a little high relative to current market rates. I have a RE agent in the area that assured me it wasn't unreasonable though. 

Thanks for the input and I think you are right on point #2. The potential income on the STR will more than certainly offset the increased rates.

Thanks again!

Thank you for your insight and response @Kyle Momany

My mortgage payment on this particular property is about $1250/mo and we are asking for $3300/mo for rent. My guess is this is still a little too high and we'll probably end up getting around 3k/mo based on similar comps in the area. Asking a little higher than most because the entire property is newly renovated inside and out. 

With a cash out refi, some quick calculations point to roughly a $2500-$2700/mo mortgage payment.

2k/mo cash flow vs $500/mo w/ 100k+ in cash to move elsewhere.

Nothing on the immediate forefront as far as investments go, it is a tricky time right now as I am sure you know. 

Hi All, 

I have been battling this decision for a few months now and I am looking for some guidance and direction from any of those who would be so kind to help.

Here are my options I am looking for help with:

1. Sell property (net about 200k) 

2. Cash-out refinance (cash out about 100k)

3. Do nothing with loan, keep current rates and rent out long-term

.....before anything, my goal in all of this has been to create a portfolio of short-term rental properties (airbnbs) to scale as much as possible. My wife and I currently have 2 properties total. The one mentioned here and another we are just finishing up renovations on. 

Details:
I purchased a property in Merritt Island, FL back in 2020. I purchased it for about 230k @ a sub 3% interest rate and it has now since appreciated to about 400k-430k. I set the property up as an airbnb initially, but due to zoning issues, I unfortunately had to take it down and now searching for a long-term tenant. At this time, I am unsure if I should sell the property to look for another property zoned for airbnbs or do a cash-out refinance and long term rent the property. I would use the cash to purchase another property in an area zoned for airbnb's. Naturally my concerns are giving up a sub 3% interest rate, but I want to continue to scale this as a short-term rental business. 

As difficult as it is to admit, I am not smart enough to know what the right move is here, so I need some coaching thru this decision. I can provide more details if I am missing anything that could be useful in this decision making process. 

Thank you to anyone in advance for the guidance here! It is MUCH appreciated! 

Awesome - thank you for the help, Mitchell. Curious, what was your overall opinion of that area? Were you looking to invest over there?