All Forum Posts by: Ed Troyano

Thank you @Jorge Vazquez. 

That is exactly what we found in St. Augustine. The debt service associated with the entry point just doesn't work with the nighlty rates. Maybe a few years ago, but not right now.

@Jon Martin Thank you for the advice and encouragement. We will keep researching. 

Thank you @Tierra Artis, I will reach out

Thank you for the advice @JooYung Choi 

@V.G Jason Thank you, We apreciate the advice. Something independent of our careers/personal lives is definitely what we're looking for at this point in time

Quote from @Zach Wain:

100% agree with Nicholas. Some markets are cash flow positive for STR's, but you need experience and a great realtor and team around you.

The cheapest money and least amount down is a Primary SFR purchase, live in it for 1 year, and then rent it out. If you can buy in area that will be great for STR, that is a win.

You can buy a new primary home every 12 months and rent the old one out, and you only need 3%-5% down depending on the scenario (Jumbo requires more down).

Thanks Zach,
I think the hardest part is my market. I’m not in a position to relocate right now, and anything in my price range on long island lends itself to blighted areas and high crime rates. 
At the top of my budget it gets a little better, not much. I also don’t see offsetting enough of the cost to continue saving like O am. This is why we were thinking out of state STR

Quote from @Nicholas L.:

@Ed Troyano

why not just start out with a house hack? the more inconvenient you can make it for yourself, the better it will be for you long term. you can house hack an LTR or an STR.

and remember, house hacking is about building equity, not cash flowing. 

hope this helps

I’ve considered it… The Long island market is tough. Most properties I can qualify for on the island are in blighted crime ridden areas, really not areas or situations me or my brother are looking to put ourselves. I’m also not in a position to relocate with work, which is why our thoughts went to out of state (easier entry) STR (higher cashflow) investments. 

I live at home rent free, aside from my phone, car insurance, etc. that I pay my parents each month, and save/invest around 90% of my income. 

Hello,

I’m 24yrs old with no assets living at home after graduating from college in 2024, currently making $114k/yr at my full time job. 

My brother is still in college with no income but together we have a combined savings of $150k and would like to put it towards an investment property

We've been wanting to enter the STR market for about a year now, but have struggled finding the right market. Our goal is to scale a business and roll our profits and personal income into the next asset, into the next, into the next, etc……

The St. Augustine FL STR market was being whispered in our ears with inflated revenue potential. Having taken a trip down there and doing our own due diligence, we now realize this. Within this market, heightened home values and moderate revenues, coupled with high interest rates, it's very difficult to find anything that cashflows.

Our parents operate an STR in Maine, not as a profitable business, but as a way to offset expenses on an appreciating vacation home. We are familiar with the space, just not sure where to look for a less seasonal market that accommodates our price range.

We were approved for various financing options in the St. Augustine area…

- 10% down 2nd home up to $500k

-10% down 2nd home up to $675k (with a cosign)

- 20% down conventional up to $650k (could increase with a cosign)

-Various DSCR programs with a $150k max cost to close

In our opinion, our best path is to put as little down as possible to preserve capital incase of property emergency and to move faster towards our next property. 

Hoping someone can offer advice and help point us in the right direction in this 2025 market. Maybe STR isn't the answer for us to build passive income right now, but I don't see single family long term providing the cashflow we're looking for.

Thanks