All Forum Posts by: Brian Spink

Thank you Luke. Should’ve known you’d have a document for this!

Looking at tweaking my min night stay requirement now that business has picked up again. What do you guys require for those of you with STR in the Pigeon Forge/Gatlinburg area? Thanks.

Thank you for the info.  I'm looking into places similar Windsor Hills resorts where short term rentals are allowed and were actually built for the short term market.  Hopefully they provide a more promising cash flow than the city of Orlando.  Anyone willing to DM and share experiences?

Looking to possibly buy a short term rental near Orlando.  Possibly Windsor Hills or other short term rental friendly vacation properties nearby.  I'm thinking condo or townhouse in the 3-5 bedroom range.  I'm thinking I want to hire property management to handle everything.  Anyone willing to connect and share experiences?  General numbers?

3 of my 5 duplexes all have similar numbers.  60k purchase/renovations, 45k loan.  Average rent at those 3 is $1250 per month.  Mortgages/taxes/insurance average between the 3 is $575 so that's about $337 cash flow per unit/$676 per duplex (on perfect months).

I'm looking at a couple different 6 unit buildings.  Rental income is about $3300 per month.  Mortgage/taxes/insurance would be around $1693.  Landlord is responsible for some utilities as well as water so that's an additional $300 or so per month.  Total cash flow would be around $1307 a month or $217 per door.  It's been similar numbers on the 4-12 unit places I've looked at.

For the extra risk I'm putting into the upfront money, I was hoping to see an increased cash flow but I'm not, and it goes against everything I've read and listened to.  Based on what I'm seeing, if I want the best cashflow I should stay with duplexes and triplexes.  Hoping people can share experiences and knowledge.

I've got 5 duplexes in Jackson and Adrian Michigan that I own and am starting to look into transitioning to small apartment buildings, however, the cash flow doesn't appear to be as good (which goes against everything else I read and listen to).  As I use the bigger pockets calculators to analyze potential deals, for the extra upfront money required to get into the small apartment deals, it does not produce extra cash flow in comparison to what is required for me to continue with duplexes.  There is a strong likelihood I'm missing something or not doing something correctly but.......thoughts, advice, and knowledge would be appreciated.

Thanks for advice on Quickbooks......also the magnifying glass:)

I've got 5 duplexes and am tired of trying to separate expenses with spreadsheets in Google as well as checking things off on my checklists.  I like to think buy I'll 5-7 more duplexes in the next 2-3 years and am looking for suggestion on book keeping software.  I don't need the tenant portals, maintenance requests, and all the other feature that big time property managers use.  Trying to find something quick and efficient in terms of record keeping and being ready for tax time.  Suggestions?  Experiences?

I've got my eye on a 15 unit apartment in excellent condition (asking over 700k).  I've got excellent credit, a flip, and 4 rental units (in the past three years).  Problem is coming up with a 20% down payment for something in this price range.  Anyone a lender, know lender, are a  lender that might have some solutions for me (like 90% ltv instread of 80%)?

I've got my eye on a 15 unit apartment in excellent condition (asking over 700k).  I've got excellent credit, a flip, and 4 rental units (in the past three years).  Problem is coming up with a 20% down payment for something in this price range.  Anyone a lender, know lender, are a  lender that might have some solutions for me (like 90% ltv instread of 80%)?