All Forum Posts by: David Klefeker

Anyone have a good recommendation on GL and P insurance for Hawaiian Islands?

Things always evolve and change which is a good thing. For a lot of us that have been here for years, I have seen the inflow of new investors participating on the BP forums grow massively! Which is overall fantastic!

However, with anything, as something grows it evolves and begins to loose that thing that made it so special in the first place.

I understand that there is still incredible value for people to gain from sifting through the forums but my challenge to the BP team would be to figure out a way to keep that unique massive value the forums had in the beginning while helping keep that uniqueness that we have all grown to love and benefit from.

Hope everyone is staying safe and healthy!

@Glen Friedman thank you! I’ll definitely check that group out!

Looking for deals in Jacksonville Florida for buy and hold.

@Cheryl Vargas 

Facebook groups are a good idea however I use Zillow and Facebook marketplace to cast a wide net. The key is use the title "Short term rental" or "Fully furnished". Also be sure to set the term for monthly or less than 6 months. This usually generates plenty of leads from all types of traveling workers and digital nomads. 

However we have found that referrals is a great way we generate leads. We make sure the nurses that stay with us are taken care of and we ask if they can please let all their colleagues know about us. We are flexible with the length of stay they need, have reasonable prices, and give referral credits if they send anyone our way. 

Also reach out to any company headquarters that are in your area. Headquarters are usually doing a lot of 2-3 month tainings for new employees who need temp housing. 

Hope that helps!

@Brandon Bonfiglio 

Florida is obviously booming right now in general but especially with the STR market.

We own and operate 30+ Airbnb/STR's here in St Pete, Florida for over the last 5 years and we've seen some incredible year over year growth. Supply still trending well below demand.

Buying right and strategic renovations is still vital. Along with highly process orientated management systems are key to command premium rates and stay ahead of the pack. Also make sure you understand the market and seasonality. Know when to push rates during season and when to shift to 1-2 month stays for the slower season. Hint: Traveling nurses are awesome for this gap filler.

Hope that helps!

@Avery Carl incredibly insightful podcast on BiggerPockets btw, shared it with my STR team. Thank you!

Brian Burke great info and actually incredible insightful for myself and our group. We operate a private “Friends amd Family” fund for multifamily and have yet to take it to the next step of syndication. With that said, that is on the horizon as part of our 18-24 month objective. Thanks again and looking forward to hearing you speak at the conference in Chicago.

Shane Womboldt I completely agree with Jeff Cichocki the language is a major give away. Best thing to do is jump on the phone with 5-6 different Hard Money Lenders, which you can find here on Biggerpockets, and get used to hearing the terms and lingo they speak. Then you’ll be able to spot these scammers coming at you a mile away.

Andrey Y. Thats a great point! Although if its under an LLC then your protected and hidden. We buy all of our multifamily and single family properties within an LLC. With that said we also have a property management company we own to manage the properties. So we are not necessarily broadcasting that we are affiliated with the ownership.

Hey Dakota, depending on how many rentals you have you may want to look at a software like Yardi Breeze or one similar. It makes everything very easy to manage. Also make sure you are passing that expense along to the tenant. That is very common across the country.