All Forum Posts by: Kaynea Bingham

Hi @Wendy Lacey, In my humble opinion, Although there are people doing STR in Poinciana, I think you would be better served choosing a long term tenant. The traffic and distance to the theme parks for vacationers traveling from your home in Poinciana to the theme parks, could end up being a deterrent to many people. There are tons of great homes closer offering easy access to great eateries and entertainment spots that you would be competing with. I would research to see what a long term renter's profit margin would be, compared with Airbnb.

@Julian Joseph I think your desire to learn more is the right approach.  Part of the reason that BiggerPockets is such a successful platform is because there are so many people who are willing to share.  @Ken Latchers, you have to remember that every venture isn't for everyone. We all have to find that niche and I know there are tons of ways for people to make money. I have been to many REI meetings where people were discouraging me from doing Airbnb because the laws are changing, and I have had to politely tell seasoned investors that it works for ME.

If Julian is serious and has a tenacious spirit, I think he can find success in Arbitrage.  There is always an opportunity in everything.  Personally I have researched Airbnb Arbitrage, and have found little success arbitraging, at least in my market, but I persist with looking for opportunities.

I personally hold and rent traditional real estate here in Central Florida and hold Short term rentals that I AirBnB, so I have a pretty good perspective of the market.  But being persistent and pursuing a idea is a great way to form your own niche in any market, and if you just ask, there is definitely someone out there willing to share.  Lastly, as a seasoned investor, I NEVER feel threatened by someone out there wanting to do what I do.  My motto is there more than enough business out there for everyone.  It's important to remember, that the market will always be a challenge, and we all need to work hard to keep our hustle game strong and make money.

@Billie Young, I have tried extensively to Airbnb Arbitrage in Orlando, with NO success. I currently own 2 properties and legally, Airbnb them in STR communities here in Orlando. I love the returns on investment; however, in Central Florida, the idea of Arbitraging in residential areas and without fully partnering with owners is very difficult. Being a licensed realtor in the area, I respect the process of rules and regulations in the area, designed to protect our property values and our beautiful city. I am a very busy person and I just couldn't justify the time trying to find the perfect person and situation that would allow me to profit from arbitraging. I have refocused my energy on purchasing additional units in STR communities and just short term renting them the traditional way or through Airbnb. I believe anything is possible, especially in real estate investing. I would love for you to share if you have any luck.

@Joann Lim, Fairview Shores is a real residential neighborhood.  The city of Orlando, and some of the outlining areas have strict regulations on Airbnb's in residential areas.  In addition, like @Shawn G. mentioned, personally, I wouldn't Airbnb in this neighborhood.  I feel a lot like @Ken Latchers, I have a genuine passion for STR. Although I am making a great profit, I am serious about how I manage my STR and treat it as a business. I am VERY hands on and take each guest visit personal. As a real estate agent in Orlando, I usually suggest that Buyer's sit down and explain to me why they want to own and how their lifestyle plays into owning a specific property in Central Florida. Joann, what are your goals for ownership in Orlando? Are YOU planning on being hands on with LTR or STR? Are you going to be living here? Are you planning to manage the property yourself? Lastly, like Ken suggested, there are great resources out there to do good, solid market research. You definitely need a game plan and to understand what you are trying to achieve.

Hi @Robert Goldman, I was just driving through the area the other day coming from the arena, and I asked my Hubby a similar question. I know a few investors in the area that invested down there; however, they aren't happy with the progress of the area. Like most types of investing, I think that it depends on the person. Although, the city has poured a lot of money into the sports complex in the area, and the renovation of Interstate-4, I am not convinced that the area is appreciating in a way that Investors can make a great return on investment. I think ultimately you can BRRRR anywhere so long as the numbers make sense.

Are there any owners in Hilton Head Island, NC?  How are you making out?  What's the occupancy like?  I am interested in owning a Airbnb there.

@Tarquinina Ford, would you please privately message me any homes you have available in Orlando.  Thank you.

@Ed Ferriter

https://www.hud.gov/sites/documents/52580.PDF

Hi @Ed Ferriter You can find the checklist on the Hud.gove website.  Here it is as an attachment for your convenience.  Have an awesome weekend.

Hi @Carter F.I actually purchased a Condo for my STR. I first purchased a 2 bedroom/ 2 bath. I also purchased a 1 bedroom/ 1 bath. I decided to choose a property that was already zoned short term. My condo is worth about $120,000. I completely renovated the entire unit to be sure that that everything was in tip top condition, and I could charge max rates. Orlando is a tourist town, and there is a great supply of tourist that are always looking for accommodations in Orlando.