That said, we’re still up around 5% year-to-date on the island.

Hi Everyone, looking to connect with folks who run STRs in the Hamptons (Long Island New York).I have a couple and would love to chat!

Continuous Improvement: They consistently seek feedback and assess what’s working or not, making necessary adjustments to enhance team performance.Conclusion:Great leaders focus on building a team that is not just skilled but also motivated, cohesive, and resilient.

Just learn how to hit base hits consistently.

Hey BP community,I’m currently looking to expand my lead pipeline, and lately, it’s been pretty challenging to consistently find good deals.

I have 2 rental properties on Long Island, NY and they're both located in the same town.Property #1-Legal 2-family duplex (2 units)-Does not need to be owner-occupied since it’s a legal 2-family-Has active rental permit with the townProperty #2-Single family house w/accessory apartment (2 units + illegal basement apartment)-I live in the upstairs unit-Needs to be owner-occupied in order to get rental permit for the 2nd unit since it’s not a legal 2-family-No scenario where the basement apartment will ever be legalMy family has been renting this house without a rental permit for several decades without any issue.

There is a reason why PMs exist and why they manage based on location.I'm not sure how often you're flying to Detroit and checking up on your properties but having someone do consistent walk-throughs at least three times a year is incredibly important.

  -  All of the homes/properties have been renovated and have been in service for a number of years (meaning we have a strong history as successful  property owners/investors)-  All of the homes are higher-end rentals in very good neighborhoods -  All but 4 homes are completely paid off  with no mortgage overhead or LOC debt-  All homes have a very consistent rental history with very low vacancy-  All homes are turning a profit and our pre-door numbers are very goodBecause the homes are almost completely paid off, we have a good deal of equity in just sitting around. 

As an investor, the goal is to generate consistent residual income.

depends on the quality of the assets and the reliability of consistent rental income.this is an age old argument and really a personal choice at the end of the day.