All Forum Posts by: Ed Troyano

Hello, I'm looking to connect with a good property manager for a single family STR in the Asheville area. Hoping someone can share a contact and there experience with a good Manager

Thanks

Hello, I'm looking to connect with a good property manager for a single family STR in the Lexington area. Hoping someone can share a contact and there experience with a good Manager

Thanks

Hello, I'm looking to connect with a good property manager for a single family STR in the Indianapolis area. Hoping someone can share a contact and there experience with a good Manager

Thanks

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.