All Forum Posts by: Chuck Masters

Looked at a vacation rental home today off 192 near Clermont. House priced to sell but the current management company is charging a 15% fee along with a $265 monthly fee for pool and pest control. This works out to be a 30% monthly fee. This is a deal breaker after P&I and utilities there is no cash flow.

Are these vacation management numbers the norm or are they high?

Thanks @Keith Courtney. I will go back and see if I can find the articles I was reading, but I do remember Polk county being mentioned. But I see from your tag line you are in the Brokerage/Vacation Home business so you should know. Do you sell vacation properties to investors and non investors ?

@Andy Gross Abingdon, MD is another potential area that I would look at for flipping. The area has a lot of townhomes, condos and single families in many price ranges. It's probably an area that I should do a little driving for deals to check it out. I see you're from Hawaii, are you investing in Abingdon? from there?

One of my strategies is short term rentals in central Florida. I am looking to purchase my second property in the Clermont FL area soon. The first property is rented out to my daughter and some friends who all work at Disney World. While searching for this property I looked at a house that was a short term rental and I liked the idea so I started researching this market. One day when I get out of the 9-5 job I wish to be a snow bird so having rentals in Maryland and Florida is part of my plan. Anyways last night I came across an article where some counties in central Florida are cracking down on short term rentals in certain neighborhoods because of complaints from the full time residents in their communities. What do others know about this crackdown and is this something to be worried about.

Thanks for the response @Jeff Bridges. I live in Bel Air and I want to use the strategy of buying and flipping some with holding some and wholesaling the ones I don't want. I don't want to go into the Baltimore market and here in Bel Air the deals are few and far between. Don't want to go towards the Edgewood market so Aberdeen Md  IMO is a market that has potential future growth and there is always the need for housing with the Army base there (until at which time Congress decides to close it) I have actually volunteered with Habitat in rehabbing houses below the tracks and I agree with your assessment.  I'm looking to meet others doing deals in the Aberdeen, MD area, may be pick up a wholesale deal form someone to flip / rent.

Welcome @Edwin Momanyi. Have you decided on a strategy to follow with real estate investing? Like others have said we have 2 active REIA's in the area the BWI Meetup and the BaltimoreREIA where you can meet like minded individuals that can help you out in what you need to know. Good Luck.

Anyone doing any any flips and fixes or wholesaling in Aberdeen MD?

@Account Closed What a great tip "

I use to write notes on 3x5 cards of every creative technique I learned from all those seminars I attended, ideas from every real estate book I read and tapes I listened to. I carried them with me all the time and referred to them often, especially when I was about to meet a seller."

I'm exploring vacation rentals around WDW in Orlando. My next vacation in the area this May we booked a house via one of the companies that manage these types of rentals so we can go through the entire process ourselves so we have an idea what it is like from the renters perspective. Since we just booked yesterday I need to send the property managers an e-mail asking if we can meet one day during our visit to introduce ourselves and to learn more about their company and if they are taking on more clients and what sort of inventory are their customers looking for.

I spent over a year researching neighborhoods before finally purchasing a rental off 192, west of Disney. The comment in regards to a house may look good in a picture online but the neighborhood may not be a desirable place to vacation is very true. Many of the houses I researched online looked great but when I drove into the neighborhood I knew almost immediately this was not where I wanted to invest. There are still deals to be had but they are harder to find now. Good Luck