All Forum Posts by: Danielle Du Plooy

Hi All. 

Looking for a reliable contractor with experience in commercial renovations.  I would appreciate any referrals. Thank you!

Hi all,

Unfortunately, I am currently undergoing some legal battles with my HOA regarding the operation of short term rentals. I am considering offering a sunset clause meaning when I sell my house the right to operate the home as a STR will cease upon sale. I do not plan on selling, but this may help convince the HOA to grandfather me in. My question is- does the ability to operate as a STR impact home value? I can imagine it may be quicker/easier to sell but cannot see it actually impacting the value of the house as it is still residential and not a commercial asset.

Thank you!

Danielle 

Thank you everyone. So this is actually not a DSCR loan which is why I was so surprised. It is a conventional cash out refi. I will definitely seek out other local banks for a lower interest rate.

Hello all, 

I know interest rates are rising rapidly. I just got quoted a 7.25% for a cash out refi. My credit score is 780. Does this seem to align with what other people are seeing? It does seem to be a bit high

Thank you!

Danielle

Hello! I am thinking of purchasing a 3-4 bedroom in Kissimmee. Does anybody own in that area who wouldn't mind discussing their experience? Also looking to discuss the gross income over the past 1-2 years so I can make sure the purchase price would still cash flow. Thank you!

Hi @Mike Shulman, thank you for your input. Where in central Fl would you recommend? I did see Orlando is not STR friendly. Our budget is 500-600K for 3/4bdrm so I'm not sure if the coast would be ideal. Thanks again.

Hi @Jason Wray. Thank you for your input. I was looking into regulation and it says Clearwater and St. Pete restrict rentals <30 days? Indian rocks was a little above our price range but I will look into Treasure Island and Madeira Beach. Thanks again!

Thank you @Marshall Leipprandt. That helps, I will definitely reach out to you if I have any questions. i will be managing remotely so I would appreciate tips in regards to management for that.

Thanks again!

Hello,

I am thinking of purchasing a property to use as a short term rental in Florida. Can anyone provide me with popular destinations that are STR friendly?

Thank you!

Danielle

@Jack Perfett I personally like seller's assist because it's less money out of my pocket at closing and more for a reserve fund and to start saving for my next investment. Meanwhile if I give asking price or slightly higher in an offer price, that will be over 30 years in my mortgage which will be paid by tenants anyway. (When I've offered over it was only 5K not enough to threaten the appraisal with my deal.) It has been a win-win from my experience but it also depends on the deal.