All Forum Posts by: Alyson Gordon

Looking forward to it!

Of course we can't predict the future but based on everything happening it seems we will have at least as good appreciation as the rest of the country and possibly more than average.

Since it wouldn't be a primary residence, what would your goal be for buying a property? Long term rental, short term rental? Corporate housing? I think that Raleigh could be a great market depending on your goals. I think the clearer you are on that the easier it will be to make a decision. Id imagine you want to at minimum break even if not have some healthy cash flow while you buy and hold. LTR is going to be harder to do that here right now since home prices continue to climb but it is possible. I think that a mid-term/corporate housing opportunity is the current sweet spot for investing in the Triangle. 

Good luck! :)

You can successfully and fairly easily manage an STR out of state, however for your first one I think it can be helpful for it to be within driving distance (3 hours or less) and it will simplify filing / paying for taxes and tax preparation. You can find many markets across the US so i'd try to buy something in MA if you can as you learn STRs but if not, know that you can do well in any "good" market.

A lot of that comes down to your personal goals - cash flow? return on equity? COC? there are tools like STR insights, bnbcalc and airdna that can help identify a good market but ultimately a lot of your success will come down to location and how well the property is managed. Good luck!

If you can get out of the condo and buy SFH in almost any market I think it would be worthwhile. Regardless of location and appreciation % you get you'll get more in a SFH vs a condo.

Being based in the Raleigh area and having lived in Chicago I am biased toward Raleigh area for investing. Happy to chat more if you'd like!

I have heard good things about KBKG and they have an online tool for cost basis of 600k and under https://www.kbkg.com/residential-costsegregator 

I personally used CSSI and they were awesome https://costsegregationservices.com/ but don't offer DIY.

Hope that helps!

I’d be happy to chat and get you set up for a search! We don’t have a ton of multifamily and the cash-flow isn’t strong since appreciation and demand is high. I can share more when we chat :)

I don't own anything in that market but know a few people that do, and have *heard* that the market is saturated and not doing well. Not saying that is true but just as with any investment talk with people operating locally and run your numbers thoroughly. 

You can do well in a down market with a great property. You can also do poorly in a good market with an ok property. 

Good luck! :)

I agree with the comments about saturation in the Disney market. Also, what you'll find about having an STR is that you want to use it most times that you'll collect premium rates and that can create a little internal conflict haha. I have this issue with my beach property :)

Overall your approach to using cash and getting a loan later isn't a bad one at all. The other thing to keep in mind is that Florida has a lot of issues with getting and keeping home insurance so that could end up being a hassle. I know a few people that operate in the new england area with STRs and do well so don't feel like you can't do something closer to home. If its truly intended to be an investment I say look at a different market and use the extra money to rent a sick house for a week or two in Florida. 

Good luck!

There are many free calculators out there from those that do this professionally. I use one from STR Secrets https://www.skool.com/str-secrets-starter-pack/about and would also suggest checking out the one from Tony J Robinson https://alphageekcapital.com/Calculator/. Buy slowly after you have all of the info so you don't have regret! :)