All Forum Posts by: Ryan Moyer

I have a 9br themed place in Champions Gate that I can share expenses on.  Also onboarding a couple other people's to manage and their expenses line up pretty well.

May/June are middle of the road months according to seasonality data (I've only been live since October).

I don't remember how my property taxes/homeowner's broke out from my mortgage offhand.

HOA - $400

Electric - $500

Pool maintenance - $90

Cleaning - $299/clean

Cable/internet - included in HOA

Water - $100

Pricelabs - $30

Hospitable - $9

Security/Automation - $47

AirBnB charges 3% of nightly rate.  VRBO 8%.

It's like this almost everywhere.

If you have a really nicely themed out house with amenities attached (arcade/theater, theme rooms, private pool) then probably not necessary, but it helps.  If you could do that for the same amount of money then you'd rather have it in the home than in the resort.

If you don't have that stuff, I think those amenities would be a bare minimum.  There are 10's of thousands of vacation rentals in Orlando.  A big chunk of those will have access to amenities at the very least. 

Have those homes risen a lot in value since he bought?  If it's anything like out here homes that were 240k last year are 480k now.  Although I've got my old home I grew up in on my zillow watchlist and it doesn't look to have changed in value a ton over the last year.

Does Gainesville have a strong STR market? I lived there for 30 years so it has a soft spot in my heart.

Washington County is very tough.  I vacation a ton down there and would love to own (and spent months trying to find a way to buy) but found it better to buy elsewhere and use the income from the other place to pay for a nice vacation there.

In St George STRs are illegal except in designated neighborhoods, and those designated neighborhoods have a PM attached to them that you have to use that takes 30% gross off the top. The numbers don't work there for investors as there are more than enough people that want a legitimate vacation home there and are willing to buy at prices where the STR income won't even break even, and they are just looking to subsidize their costs with it.

Hurricane is awesome but they only give out new STR permits when someone lets their old STR permit expire. They estimate the wait list for a permit if you apply today to be around 10-15 years. You can very very rarely find a house that goes on the market with an STR permit, but you can expect it to cost double what it will appraise for and it won't come near making the income to justify that as an investment.

Toquerville requires you to be a permanent resident of the city to operate an STR in the city.

La Verkin is the only place that is really doable. House must be at least a year old (no new builds) and they limit the number of STR permits per area of the city, so you are restricted to very small areas of the city that occasionally become available and you have to hope there is a home for sale in that area when it happens.

Other than that you're basically stuck looking for a unicorn.  Like when we were looking a 3br home happened to become available in St George that was zoned commercial as its zoning had never changed when the neighbordhood changed, but that's obviously a super rare occurrence.

They are actually building an awesome new resort area called desert color that has a GIANT shared lagoon that is super cool, and they have an area in there dedicated to STRs.  But you're looking at paying a cool million for a 3br condo in there that rents for $300 a night with 50% occupancy and a 30% forced PM that you cannot opt out of.  Awesome place to vacation, but there's few "investments" to be had there unless you stumble upon something truly fortunate.

I have a property near Disney I self manage and a couple I manage for others.  Feel free to DM if you want additional advice.  Orlando has plenty of cleaners/handymen/etc self managing there is very doable.

I'm not sure where you heard the regulations are good in Utah.  It is extremely heavily regulated and several of the good markets forbid self management.

Moab is basically impossible to get a permit.  St George you pay $800k for a condo that does $60k gross and requires you to use a pre-selected property manager that takes 30% of gross.  Near the ski resorts will cost millions with gross revenue in the 5 figures.  And SLC proper cracks down more and more every day.

There is opportunity in rural Utah (I have one that does well), but that presents a whole new set of challenges as there often aren't reliable cleaners or handymen (or stores) nearby.  I'm very lucky to have found a cleaner/handyman that are husband/wife and I treat them like royalty.  Otherwise it's usually weeks to get someone out there to fix anything, if you can even find a cleaner.  

Wait...you typed all of that out on your phone? 

I went live in the Disney area in October and am doing very well.  Lots of others here are doing great on the Emerald Coast as well.

Lots of good markets in Florida.  Almost all of them, really.