All Forum Posts by: Erica Muller

@Kyle Conrad Why don't you just get your real estate license if you are going to be doing this a lot? Seems like it would make more sense instead of running around in gray area and potentially putting yourself at risk. 

Maybe @Gerard Lester can help you sort that out. 

@Payal Z. Have you considered vacation rentals? In the right neighborhoods, they're generating 3-4 times the amount of rental income that long term rentals are and the good news is that there are some really good management options here so it can be a hands off investment. You just have to be really careful which neighborhood you purchase in because they're not all the same. Two neighborhoods right next to each other can be bringing in entirely different sets of income. If you need any guidance feel free to reach out! 

Interesting points @Juan Diaz. This is why I feel like people should use a property manager. They handle most of this damage and have multiple sources of putting better bookings in place with larger security deposits. I'd rather profit a bit less and my property not be abused and destroyed than book every last night with whoever is willing to stay there at whatever rate I can get. It doesn't make sense in the end. Also, I think certain areas are definitely more prone to wild tenants than others. In Orlando, it's mostly families traveling together so not a lot of wild and crazy parties but I would imagine places like Miami or Vegas get a lot more of the party scene and probably some really weird stuff going on.  

@Clayton Sneider Do you plan to self manage it or hire a manager? 

I was marketing and selling these a few years ago for the investor that purchased this community in bulk. . . the numbers never seemed to work for my investors so it was not a successful project. Did they change anything since then? 

@Stephen Ghanoo Congrats! I work the Kissimmee, Clermont, Davenport, Winter Garden, Windermere areas but my colleague invests basically everywhere in Orlando. I'm sure she has some insight for you and could assist you in that area. I'm happy to connect you with you. Just send me a PM. 

Welcome to BP @Niles Treber !! I don't know how much money you're coming into but if you have enough you should invest it into self storage. They're probably the safest of all real estate investments but I would make sure you have someone who knows what they're doing help you do the research and acquire one. I'm saving up to buy two of them right now and then I'm retiring and traveling the world. 

@John Mayer At the end of the day it all comes down to taxes. They can say whatever they want but when the county gets involved it's mainly because they want their portion of what's owed to them. People who are running a vacation rental illegally or in areas it's not approved for are not paying the city and county hotel taxes (which is applicable on all short term rentals under 7 months). I'm sure the neighbors complaining doesn't help but that's not why they care so much. I know that isn't a solution though. . . 

@Dan Wilson Welcome to BP! Everything is mobile now. If you're not utilizing mobile marketing you're missing about 60% of the market. You need a good mobile marketing strategy if you don't want to fall behind the times. Especially in the area where you are, everyone here is transient and there are cash investors around every corner. 

best of luck!!