All Forum Posts by: Napoleon DeCiutiis

Angela,  Contact The Mortgage Shop, owned by Brenna Carles and Avery Carl of The Short Term Shop! 

In the FL market I think you're safe with the $70-80 mark on a full rehab.  Good luck!

Emily, 

You have the formula right on YouTube.  Contact your GC, and let them know all the concerns they may have using the words from the video.  Explain to them how you aren't going to do those things and ensure that you don't.  Focus on taking care of the people who take care of you, and you'll be successful.  But if you take advantage of them, they'll back out from underneath you and leave you hanging.  

As a builder AND an agent in FL, I 100% agree with having someone who understands the process so that you aren't being taken advantage of.  Even on new home sales, there is work required. 

Jeremy,

As previously mentioned, whether you have an agent or not, that price is already baked into the sale. If you don't use an agent, you're going to pay the extra regardless and go against the builder without representation.  

What is coming with the new build? What are the finishings? Are you paying extra for flooring/special packages? At 2%, that's under normal average here for a buying agent. 2% is a good deal to give you peace of mind during the transaction.  Good luck and congratulations on your move!

Thanks Brooklyn! @Stephen Jones- I shot you an IM- let's discuss! 

 Steve,

Contact Stacey Elliott at Southern Vacation Rentals- I'll IM you her information. She's relentless and aggressive and I hope she can help! 

 Avery, 

Contact the Short Term Shop and ask for Jessica Marriott or Leslie Carbajal! They are rock stars over there! Also hit up The Mortgage Shop for lending.  I hope those references set you up for success. 

Dean,  

Each area is different due to material availability/shipping/labor force/etc... I would suggest contacting companies for each trade and get an average bid from each sub.  If you're wanting to use a GC instead of running the project yourself, then I'd ask a couple in the area what their mark-up is, and calculate using those numbers. 

In my developments, I went to everyone I could in the area and got the most RELIABLE (not cheapest) person in order to make my numbers work the best.  I then created an excel sheet with those estimates to know (a) what to offer for land to make my numbers and (b) to hold the sub to what they estimated for me.  Make them say "no" to your questions and tell them what you want..it's easier than saying "yes".  Example: "If I was to use you for the next ____ projects, would you be opposed to taking 20% off materials?" 

Good luck- shoot me an IM if you'd like more info on my process..a little bit of background research and some phone calls can make your sq' price swing back a lot. 

Puneet, have you thought about self-managing your property?  Grab the book, "Short Term Rental, Long Term Wealth" by Avery Carl for some motivation/direction!

Joao, You can look up rental numbers on AirDna, or if you go to The Short Term Shop website, under "Blog" you can look up estimated returns for Outer Banks/Western Mountains/Carolina Beach/High Country! We have agents out there who are rock stars in the STR game. You can also use the "enemy method" (If the link doesn't attach, just YouTube "How to Analyze a Short Term Rental Investment "The Enemy Method").

Good luck-  I am working with a guy who is stationed in Africa right now, distance from your STR shouldn't be a deterrent. You've got this.