All Forum Posts by: Cody Benedetto

I’m planning to purchase my first short term rental in the Poconos, PA and have been researching the local markets, communities, and looking to connect with others with experience in the area. Right now, I’m primarily hunting in the Lake Ariel village.

1. What communities are both STR friendly and appealing from an amenities standpoint worth looking into? What non-HOA neighborhoods are worth considering?

2. Are there any realtors in the area that have experience in the STR market? I'd love to connect.

Thank you!

Florida is an interesting market. I own a SFH in Florida (out of state buy and hold investor) and hunting for more properties. Insurance rates have risen and I always look for flood zone X as a requirement to avoid flood insurance, block construction or stone/brick to avoid termites, no pool, construction 1980+ to avoid costly capex, greater Tampa Bay Area, No HOA or HOA less than $175 per month, $150k-$225k SFH with no more than $15k in repairs, 2+ beds 1+ bath, minimum 1000sqft, cash on cash return for year 1 minimum 7%, 20% down, 30 year fixed mortgage long term buy and hold.

This fits my needs but I’m fascinated by other investor “niches.” What’s your strategy? I’d love to hear how other investors control their parameters and analyze properties with controlled criteria. What’s your niche? How do you filter through listing and limit yourself? I understand that some people don’t want to share insight with other competitive investors so please feel free to hide your location based criteria.

@Beau Pearson I only use Zillow manager for one property that I self manage in the area where I live. Otherwise I have property manager for my long distance rental. In the process of buying another out of state and will use a property manager, open to whatever they’re already leveraging

@Joshua Loranger I’m always annual, would only go month to month if I was struggling with vacancy and found a great tenant who would only sign mtm

@Andrew Brown the 1st one is a learning experience, focusing on CoC is important but getting started is the hardest battle. Keep in mind the other wealth building parts aside from cash flow that aren't factored into CoC: tax benefits/depreciation, appreciation, loan pay down building equity.

@Beau Pearson I use Zillow and have had no issues at all. It’s super user friendly and the fact that it’s an established name and brand that tenants are familiar with, they’re more comfortable and trusting. I find it to be a great one stop shop.

Can you ask her for more details on when she'll be back, if you can inspect//check in while she's out since it will be vacant? I'd open the conversation a bit more. It does seem a little odd. 

@John Thedford Would love to hear more about what makes you bullish? I'm always looking at new areas to invest in :) 

As Luis mentioned, the "house hack" + FHA could really set you up nicely. I wish I did this years ago. https://www.biggerpockets.com/...

Brandon Turner's book is an excellent 1st step, highly recommend. https://www.amazon.com/Book-Re...