All Forum Posts by: Josh Green

Where are you located?  I have an awesome insurance broker that consistently finds me the best rates and really customizes based on my needs!

Hey Andrew, love this plan.  I'm all about house-hacking and building wealth through consistent, 'dollar-cost average' purchasing of property.  With that, I got a ton of great info and advice for you.  I'm a local investor and realtor and moved here from SLC Utah actually because there is so much opportunity (plus, the weather and amenities of course!).  If you're looking to buy/sell and need a realtor that can do that PLUS help by being a consultant in that way, don't hesitate to reach out and we can jump on a call!

 I follow a few different youtube channels and they use a lot of data to make their claims.  With them, I argue that the 'crash' has already begun.  How soon it will start in certain markets, how much it will drop prices, or how long it will last are questions we cannot know but I'm guessing markets will drop 10-30% (some areas more, others less).  Tampa/St pete is not going to be one of the earlier cities to experience a correction, but do keep an eye out on north port/sarasota/ft meyers.  I think that part of the state will be one of the earlier parts and potentially hardest hit.

@stephen when and where are you moving to FL? This is a tough choice and I would need more details on your goals and intents and timelines to make a better suggestion. One thing to question is have you considered doing an STR on that? You might be able to pull in 1.5-3x that much in monthly rent, and if so, I would keep. I'm from the west (SLC) and cities like that are going to continue to blow up over the next 10 years. There's several strategies you could take here, including unlocking some of that equity rather than outright selling. Again, just depends on the details.

@David Rutledge

There's a few cities - Hillsborough county in general is okay to do so and Pinellas county is city-to-city

Hi David,

STR realtor here! I moved from #1 on your list to #7 on your list and the opportunities and occupancy rates here in Pinellas/Hillsborough county FL are wild - so much space to cash flow.

I would look up on google "City X Laws on Airbnb" and start reading to begin so you know which areas you're looking at.  Next, you'll want to be able to predict how much income a property can produce - in the areas you're looking at based on the first task, look at the nightly rates of properties that meet your criteria.  Assuming pretty metro/populated areas are getting 70% occupancy (conservative) and back calculate the average monthly income taking into account the fees associated with Airbnb/VRBO.  Then, you need to determine what you can afford - how you will finance the properties and what it will cost to operate a property in your criteria.  If the numbers work then the search begins on finding one that mimics your numbers and you'll need a realtor for that.

I'd just google furnishing lists and I'm sure there's a few blogs out there with a cute list!

I would recommend talking to a couple PM companies that have properties in the area and ask them - seems to be the best way to get accurate data on occupancy in my experience.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $345,000
Cash invested: $25,000

House-Hack turned investment property!

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

Found the deal on-market and same day made an appointment, submitted an offer, and went under contract! Ultimately negotiated seller credits, a home warranty (which saved us thousands the first year), and personal property which we were able to sell and make additional income to pay for updates/repairs.

How did you finance this deal?

Conventional

How did you add value to the deal?

Added 2nd kitchen and cosmetic updates to capture increased cash flow.

What was the outcome?

Cash flow (moderate), appreciation projection (heavy), great LTR