People who have 5 STRs how much totally would you generate in a year?

Question

People who have 5 STRs how much totally would you generate in a year? Around 100 k totally in profit?

Wilson Hunter · Answer

It totally depends on what “1 STR” is. Is is a 1 BR cabin or 8 BR oceanfront house with a pool?

John Underwood · Answer

This really could be all over the place based on what type of properties ones has and where they are located.

Expenses and mortgage also greatly affect the bottom line.

Someone with 5 properties could be killing it or not have two nickles to rub together.

Account Closed · Answer

Honestly you have to run numbers. So many nuances from property taxes, insurances, what does airdna or rabbit say, cost of internet, HOA, permit costs, local utilities, are you doing maintenance or is someone else.... Depending on the property one property could clear you over $100k or you could loose $20k a year.

Jorge Vazquez · Answer

In my 20 years of navigating the world of real estate, I've stumbled through just about every mistake you can imagine. In fact, I've recently lost more money on my short-term rentals than on my long-term properties. So, heed my advice and tread carefully with these ventures. It's crucial to approach your income goals with a plan—breaking down your long-term ambitions into annual targets makes them far more manageable. Reverse engineering from your desired income to today's steps, like calculating the number of properties to purchase each year, is a practical strategy. This approach not only simplifies your journey but also helps you stay resilient amid the inevitable ups and downs of the market. Remember, diversification is your best defense against unpredictability; don't put all your eggs in the STR basket. A well-thought-out plan, acknowledging the potential for change and challenges is your blueprint to success. I did get to 30 properties in 10 years. It was not fast, but If I did it with no money, anyone could!

Collin Hays · Answer

How is "profit" defined?

Andrew Steffens · Answer

I will send you a DM John, as everyone else mentions there are a lot of details to fully answer your question. I operate in Pinellas County so I know the numbers better than anyone here. On the properties you are looking at based on current mortgage rates etc you can profit $10k per property or more if you are self managing.

Joe S. · Answer

That’s like asking how much could you make per car if you’re running a Huber business?
depends on the area and depends on how much you paid for the car. Is it a state that takes all your profits for taxes? will you be running business in an area that tip well? What will gas prices be doing?

John Mason · Answer

Houses like this https://www.trulia.com/home/11368-116th-st-seminole-fl-33778...

John Mason · Answer

Yes financed using DSCR at let us say 10 -12 percent interest and 15 % down

Collin Hays · Answer

I don't know how one could reasonably answer this question. Are the properties financed? If so, what's the term? And oh, about a dozen other questions.

People who have 5 STRs how much totally would you generate in a year?

People who have 5 STRs how much totally would you generate in a year?

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