All Forum Posts by: Ricardo R.

Hey Alana,

Yeah, you're not imagining it — a lot of STR markets have softened this year, especially in vacation-heavy areas like Jacksonville. What you're seeing (solid summer, dead fall) is becoming pretty common.

If you’re only clearing $50/month on long-term rent after paying the pool guy, that’s basically break-even — but break-even with stability isn't the worst move right now. You'd lock in predictable income, no turnovers, and less management stress. That's worth something, especially if STR occupancy keeps sliding.

The sublease offer could work too, but tread carefully — you’d need airtight language in your lease, higher deposit, and maybe a small rent premium to offset the risk. Many “corporate housing” or mid-term operators pitch that model but don’t always maintain the property like you would.

If it were me, I’d:

• Take the long-term tenant if they’re solid and sign a 12-month lease.

• Revisit STR again next spring once demand picks back up.

• Or explore mid-term rentals (travel nurses, relocations) — can sometimes beat LTR rent without the volatility of Airbnb.

My advice: you’re not wrong that STRs are oversaturated right now. Cash flow’s thin, but steady income beats watching a dark calendar and paying the bills yourself; Alana, I really hope this helps you a bit, I sent you DM on BP... it's one of the reasons I do this, I hope you can assist. Thank you.

@Ray Heraldo oh great... I'm so glad I was able to help a bit. 

Hey Ray,

Good move looking into umbrella coverage — most investors skip it until something bad happens. You’re asking all the right questions already.

1. Yes, umbrella policies can cover multiple states — but only if your base (underlying) policies are properly set up. Each rental’s regular landlord policy needs to list you (or your LLC) as the named insured and have the liability limits that meet your umbrella’s minimum requirements (usually $300k–$500k). The umbrella then “sits” on top of those.

2. How much to get?
A common rule of thumb is $1M for every $1M in net worth, but honestly, go by your total exposure — number of doors, assets, and how much risk you want to sleep through. Most investors carry $1–3M. It’s surprisingly cheap (often $200–400 per year per million).

3. Things to ask your agent:

• Will this cover all properties owned personally and through LLCs? (Some umbrellas only cover personal ownership unless structured right.)

• Are short-term rentals included or excluded? (A lot of policies quietly exclude Airbnb-type stays.)

• Are you covered for legal defense costs? (You want that outside the liability limit if possible.)

• Does the policy automatically extend to future properties or do you have to call each time you add one?

You’re doing it in the right order — get the umbrella figured out, then move the properties into LLCs so you can layer liability protection both legally and through insurance. Ray, I hope this really helps you but full disclosure I'm not an insurance professional, I'm a real estate investor/agent/manager, so you definetely want to work with an insurance person, I sent you a DM on BP... it's one of the reasons I do this, I hope you can assist. Thank you. 

Hey Kay,

Good question — and props for planning ahead. Listing at the end of the year definitely has some quirks, but it’s not all bad.

Pros:

• Less competition — fewer homes hit the market around the holidays, so your listing can stand out.

• Buyers looking in December are usually serious (relocations, tax timing, year-end closings).

• Contractors and stagers are easier to schedule right before winter slows them down.

Cons:

• Foot traffic slows — fewer casual buyers touring.

• Weather can kill curb appeal depending on your market (gray skies, snow, etc.).

• People mentally check out around Thanksgiving through New Year, so marketing has to work harder.

If you finish rehab by end of November, I’d list right away. Just make the photos warm and inviting — lights on, holiday-neutral décor, and keep the place looking move-in ready. If it doesn’t get traction by mid-December, hold off on price cuts and relaunch it strong in January when buyer activity spikes again.

My advice: it’s not the worst time to sell — just manage expectations and focus on standing out when everyone else is hibernating; Kay I really hope this helps you, seeing a pro/cons list usually helps me, I sent you DM on BP... it's one of the reasons I do this, I hope you can assist. Thank you.

Hey Joseph,

Sounds like you’re right at that point where you’ve proven to yourself it works, now you’re just trying to scale without wasting money or burning out — been there.

Here’s how I’d structure it:

1. Start lean and dialed-in before adding tools.
Propstream’s fine for pulling lists — keep it for now. If you add REIsimpli, that can cover your CRM, pipeline tracking, skip tracing, and dialing (their built-in dialer’s solid). No need to juggle 5 platforms when you’re still refining your process. Simplicity = consistency.

2. Hire your VA after you’ve built the system.
You want to hand them a repeatable process, not chaos. Spend a week or two creating a simple SOP — what lists to pull, when to call, what data to record, and how follow-ups work. Once that's dialed, a VA can actually multiply your effort instead of doubling your confusion.

3. Direct mail & texting — don’t overcomplicate it yet.
Both work, but they burn cash fast if your follow-up game isn’t tight. Cold calls + SMS are a good tag team to start. Direct mail is great once you’ve got data showing which lists actually respond.

4. Focus on the foundation, not the shiny stuff.
The biggest mistake new wholesalers make is spending too much on tech and too little on conversations. Whether you’re using Mojo, REIsimpli, or a phone and spreadsheet, it all comes down to talking to motivated sellers every day and building a follow-up pipeline.

If you’re doing it full time:
Your daily non-negotiables are:

• 2–3 hours of lead gen (calls/texts)

• 1 hour of follow-up

• 30 minutes of pipeline review/CRM cleanup

That’s how deals get done. Don’t let “software setup” eat your hustle time.

My advice: keep it simple, master one channel, then layer others. REIsimpli + Propstream + a single VA is a solid, focused start; Joseph I really hope this helps you on your way a bit, I sent you a DM on BP... it's one of the reason I do this, I hope you can assist. Thank you.

Hey Stanley,

Love this question — $10–15K doesn’t sound like much to some folks, but honestly, it’s plenty to get started if you’re creative and patient. I started with about that, and here’s what actually moved the needle for me:

• House hacking: If you can qualify for a low-down FHA or 5% conventional loan, that 10–15K can get you into a small multi or even a single with a rentable room or basement. You're building equity and reducing your own living costs at the same time.

• Partnership flips: I’ve seen people put their 10–15K in as gap funding or finishing capital for a flip, splitting profits with the main investor. Just make sure it’s with someone experienced — or you’ll end up “partnering” on lessons, not profits.

• Seller financing or sub2 deals: In slower markets, 10–15K can be enough to cover arrears, closing costs, and a small seller down payment. You control the property without the big bank loan upfront.

What I wouldn’t do: dump it all into a “turnkey rental” or some guru course promising instant cash flow. You’ll end up owning something far away you can’t fix and can’t sell.

If you treat that 10–15K like seed money — to get experience and leverage relationships — it’s more powerful than waiting years to stack 100K; Stanley I really hope this helps you and your clients a bit, I sent you a DM on BP, it's one of the reasons I do this, I hope you can assist. Thank you.

Hey Mei,

If every other unit in the complex already has a washer and dryer, I’d go ahead and install one. Tenants will notice if yours doesn’t — and that can make it harder to rent or force you to drop the price just to stay competitive.

Yeah, washers break sometimes, but honestly, they’re not a nightmare if you buy decent mid-range ones. I’d rather replace a $500 machine every few years than deal with leaks or bad installs from tenants trying to hook up their own.

Plus, you can usually bump rent by $50–$75/month with in-unit laundry, which pays it off pretty quick. So I’d just do it right, own it, and keep control over the install and maintenance; Mei I really hope this helps you a bit, I sent you a DM on BP, it's one of the reasons I do this, I hope you can assist. Thank you.

Hey Danilo,

Great question — this one trips up a lot of flippers, especially when you’re doing “modern mid-range” finishes in a market full of time capsules. The short answer: you can’t trust outdated comps at face value, but you can build a realistic ARV with a little detective work.

Here’s how I’d approach it:

1. Find the closest renovated comps — even if they’re a bit outside your immediate area.
Stretch your radius or time frame a little to find homes with a similar level of finish. Modern kitchens, LVP floors, updated baths — that’s your true comp set, not the 1990s wallpaper special next door. Adjust for location second; finish level first.

2. Use paired sales or bracket comps.
If you can find one outdated comp and one remodeled comp of similar size and location, the difference in price per square foot tells you the market’s premium for updates. Example: if the old one sells for $175/sqft and the rehabbed one for $215/sqft, you just learned the market’s paying roughly $40/sqft for those modern finishes.

3. Don’t overvalue your finishes.
Buyers pay for overall look and feel, not every dollar you spent. You might put $60k in updates, but the market might only reward you $40k. Use your gut plus your agent’s feedback — if your finish level beats 90% of the comps, price near the top of the range, not above it.

4. Validate with appraisers or local agents.
Before you commit to your ARV, run your renovation plan past an agent who actually lists flipped homes in that area. They can tell you instantly whether the finishes you're planning push you into a new bracket or just polish your existing one.

My Advice: there's no magic multiplier — you're blending data with market feel. Use slightly better comps, measure the finish premium, and sanity-check your ARV with an agent who knows that micro-market. It's part math, part art; Danilo I really hope this helps you a bit... I sent you a DM on BP... it's one of the reasons I do this... I hope you can assist.

Bridget, no you're not wrong for wanting to get the best deal possible but you are wrong in many other ways. I'm going to approach this clear cut, but just know that I am a Realtor myself now but before I was a realtor I was a homebuyer, and a real estate investor that both used realtors and put in offers myself without a realtor before I got licensed. I became a realtor out of spite, because I depise them so much, but understand the process.

Do you have a real estate license? Do you buy and sell real estate daily? Do you negotiate real estate daily? Do you attend real estate classes regularly? .... OR... Do you merely search on the web? Talk it up to thinking that 'web reasearch' is the same as daily real world no frills experience?  -- I'm not attacking you, I'm only highlighting that you hired a professional to help you... yet ironically think you know best when it comes to the actual transaction and process. That would be akin to not knowing anything about medicine, going to the doctor and saying 'you need to fix my issue this way by doing x, y and z and give me this xxx medicine'. 

I'm not saying you don't have a say in the matter, it is after all your money and you have a right to decide what you will pay for and how much BUT.... you have hired a real estate agent and a good one at that (you said so yourself) that has given you sound advice, not based on a whim, not based on 'web searches', not based on emotion but based on their... experience (aka why you hired them)... and you decided you knew best. Of course the realtor would be put off by this...that IS wasting his time. Just food for thought. 

@Robin C. you’re so welcome, I hope it helps you a bit.