All Forum Posts by: MELANIE FELICIANO

@Jimmy Woodard I've seen cabins with a pool table and a bunk bed, and an arcade in the corner. 

Congratulations on getting an offer accepted. Do you have a real estate agent you recommend? I have been having a hard time getting an offer accepted. Was it an off-market deal?

Thank you @Joshua Strickland and @John Underwood

@Collin Hays Thank you. I would say the returns are quite stable. I'm in the Hawaii market and we tend to book all year round. Nightly rates are quite high because of increased tourism demand. And they are increasing year over year. 

Hi! I own 4 STR's and am looking to expand my portfolio. I'm looking for opinions on my next purchase.

We purchased a condo for $540K 09/2018 which is currently giving us a CoC return of about 40%. A similar condo in the same complex is now going for $940K. The last condo sold for $937K but previous to that similar condos were going for high $500's. We would need to put 30% down for this condo, but it would still give us a CoC return of about 15-20%. Would you bite or look elsewhere for a higher return?

TIA.

Hi, I'm an out-of-state investor looking into buying a property in Maui. The condo that I'm considering needs quite a bit of rehabbing, and I'm looking for a contractor for an extensive rehab. Any recommendations?

I am looking for either legal advice or a referral to a lawyer that deals with contracts in Florida.

We had a house remodeled and the contractor said that it would cost a certain amount of money ($75K) to renovate and furnish the place. This was a verbal agreement. He then emailed me with the amount we agreed upon and said it was for the "completion of all works in the home." He itemized a few things. He is a contractor that has worked with other homeowners and has quoted people a lump sum at the front end and never billed them more after the completion of the home. We don't have a contract, other than the verbal conversation and email he sent with the cost for the work. Nor did these other homeowners. 

Fast forward a few months later, he then said that he had gone through the budget, spending $74K (2 weeks shy of completing the job) and then a week later stated that I owed him an extra $20K for furnishing the property.

I know that he is upset because I criticized his work as he didn't allow any of my input on this home that we are planning to use as a short term rental. And so I was unhappy with a lot of his renovations. When I mentioned all the changes I want done, then he goes and says I owe him another $20K.

Now he's willing to bargain and accept $12K to finish up the work that was supposed to be included in the $75K in the first place.

Mind you, I have spoken to other homeowners who have worked with him and seen his work. Mine is not as nice as theirs and theirs cost $75K.

They also had issues with him not giving them any input on the renovations.

Any advice?