Stabilized in late 2024 and will be seeing about 900 in monthly cash flow.

For us, still in a growth mode, we take action and figure out how to redeploy that equity into other real estate through either cash-out refinancing or selling and 1031! 

But new investors want that NET couple hundred bucks in month 1.  

Making sure you are doing this in a house and community that will warrant it too. 4.

Let’s say with your plan they make an extra $100 or $200 in fees and you lose $1000 or $2,000 in bookings.

You should have a good idea of every expense you have in your primary home, then add the STR specific:  (These are rough estimate numbers, depending on various factors)STR insurance - a special insurance that covers both the property and your liability, could be $2~4k in areas without natural disasters, could be more than $10k in some other areas.cleaning fee - approx. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

The asset management piece of investing is not focused on enough, in my opinion. 

However, the process was extremely cumbersome, communication was inefficient, and the loan fees were inflated compared to other deals I have seen from fellow investors.We will be ready to begin the refinance stage of our next project in the coming days, as renovation is finishing up and we are screening tenants.

In many markets section 8 is higher than market rate. and investors need that extra return to mitigate the risk of sec 8 tenants generally speaking.

Since we live in Orlando area, we are looking at a STR in Disney area.