All Forum Posts by: Joel Lazar

Do you have a short term rental manager that you would recommend?

How is it working out for you?

Quote from @Kyle Mccaw:

@Joel Lazar congrats. How are your numbers? 

I have a 5 bed in Windsor Hills, also 5 minutes from Disney. It's been fun to own. Would like to see my 2023 booking pick up though.

Hi Kyle!
I actually bought it almost 2 years ago. Lived in it a year. Then I left and put it with the local itrip franchise for 6 months. They were impressive selling me. But their marketing, bookings and quality control was horrible. So I fired them 3 months ago and moved back in it. I’m running the Embassy Suites condo hotel project. As soon as it is sold out I will move away and put it back into str. This time I’ll be smarter finding a great PM.

Quote from @Melvy Concepcion:

Hey Joel, Are you looking to buy or sell? I'm interested in the STR space myself. Looking to start with the subleasing strategy. I'm in Orlando. It'll be great to connect sometime.

 I'm look to buy at this time. 

Quote from @Luke Rorech:

@Joel Lazar

Your best bet would be to look into Indian Rocks Beach as they don't prohibit STR's. For the most part, all other beach towns in Pinellas County are tough on STR but there are still small zoning districts that do allow them. Working with a realtor who is up to dates with those rules and regulations is important.

Let me know if you have any specific questions. 

Thanks Luke. Find me one to buy. 

Quote from @Adam Benmbark:

@Joel Lazar, My intention is not to be negative but that does not exist right now in St. Pete Beach or anywhere within 30 minutes.  You'd be hard-pressed to find something like that at double the budget, $600k.  If anyone is telling you that you are anywhere near reality they are wasting your time and efforts stringing you along.

Thank you Adam. My budget can be increased as can be geographic range. Whatever gets me closest to the Gulf Coast beaches and is STR friendly.

Investment Info:

Condo buy & hold investment in Kissimmee.

Purchase price: $189,000
Cash invested: $50,000

Short term rental 5 minutes from Walt Disney World entrance.

What made you interested in investing in this type of deal?

#1 vacation destination and 5 minutes from Disney.

How did you find this deal and how did you negotiate it?

MLS search

Lessons learned? Challenges?

Due your due diligence prior to hiring a property manager. I fired the first 3 PM's I ever hired.
But got it right with their replacements. Don't hire the ones that sell themselves really well unless they can prove their quality control and communications are on point.

Investment Info:

Single-family residence buy & hold investment in Ormond Beach.

Purchase price: $259,000
Cash invested: $115,000

Short term rental on airbnb

What made you interested in investing in this type of deal?

I love Ormond Beach and have lots of friends there. So I can use it once in a while and rent it out the rest of the time.

How did you find this deal and how did you negotiate it?

My Realtor, Faith Strasser Wilson found it for me.

How did you finance this deal?

I put down 20% and financed the balance. Paid for renovation with $65k in cash.

Lessons learned? Challenges?

Do your due diligence before hiring a property manager.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Realtor Faith Strasser Wilson from Ormond Beach, Florida.

St. Petersburg Beach “area”. $300k range. 2/2 with no short term rental restrictions. No 55 plus either. Please dm me.

Thank you!

Quote from @Paul Moore:

Hi @Joel Lazar! It looks like you are on a great path! And I would highly recommend getting coaching or mentoring along the path. Or at least listening to every podcast or reading every book you can. 

In the short-run, I would recommend going to the max small local banks and getting the highest equity lines you can possibly get. Right now it's a little easier to get credit than it might be if the economy falters. Having those lines of credit could provide you with a golden opportunity to scoop up deals if the market goes south. This is probably the best thing you can do in addition to the education above. Good luck and happy investing!

Been immersed in RE education for the last year. I like your advice on tapping the equity. Will get on it asap . Thanks 

Check out the Oakwater Resort. Small gated community about 5 minutes from the Walt Disney World property.