All Forum Posts by: Nick Shuber

Thank you all (@Wendy Schultz, @Luke Carl, & @Paul Sandhu) for your replies.  Here is a bit more about our situation and plan.  This is our first short term rental, are evaluating using Evolve Vacation Rentals for the 'management' portion of the property initially.  It's between them and self-managing as full blown PMs are not possible if looking for positive cash flow.  Evolve's fees are 10%, there is up side as well as some red flags to going this route which is why I'm on the fence.  

As for the Facebook page for Cape Coral, I'll have to have my wife reach out there for additional information.  Thanks for that idea Wendy.  Lastly, I'm always skeptical of feedback or help from 'competition' which is why I will always vet any information I receive myself first. 

Lucas, I appreciate the offer to have a conversation about self-managing.  My thought is that I'd like to go that route but the initial time necessary for that worries me a bit since I travel for my full-time job and my wife works long hours.  Once we get closer to closing and I have my ducks (somewhat) in a row, I'll reach out to potentially schedule a call.  That's exactly why I love these forums...people sharing their knowledge and experience to help others.  

Thanks again for the great advice!  

So my wife and I have an accepted offer on our first vacation/ short term rental property in SE Cape Coral as of yesterday.  I was wondering if there has been any discussion about reliable cleaning or other maintenance (lawn, general, and/or pool) related services in this area.  I have reached out to Crown Concierge and have the name of one other cleaning person but was hoping the forums might be a good place to receive a few referrals.  If there has already been a thread pertaining to this, sorry for the duplication.  Thank you in advance for any and all recommendations!  

Thank you to all that responded so quickly last night.  I feel a bit more comfortable with the sellers terms but am still planning on flexing my offer to represent my needs a bit more than the sellers.  For my first post, this was a great experience and it's good to know there are people out here willing to share their experiences and knowledge.  

 So this is my first post in the forum's as a member of the BP community.  I'm a first time investor looking to purchase a vacation rental in Cape Coral FL.  My wife and I have run into a situation that is a bit out of my comfort zone so I thought I'd send it out to the forum's for feedback.  We've identified a 3 bed, 2 bath sfh (w/pool) in Cape Coral that we're interested in.  Seller initially listed the property for $243k, reduced to $238k; which is when we made our initial offer ($223k).  The seller's (agent's) response was:

"owner is willing to go to $235k, it's 5% down within 24 hours, a 5 or 7 day inspection...appraisal ordered w/in 10 days business days from effective date."  

We walked away at that point to look for other properties.  No luck for 3 weeks so we revisited this home since it was pretty much exactly what and where we were looking for.  The price is now reduced to $229k and the owner is still asking for 5% down within 24 hours.  That is the portion of the deal I'm concerned about or better put unfamiliar.  My issue with this request is what recourse do I have if I provide 5% upfront if the inspection comes back suspect or have other issues after the fact.  

Has anyone in run into this request before?  If so, can you please educate me on how you responded or if you just went forward with an offer that met your needs instead of the sellers?  It would be nice to have the proverbial 'win win' but the sellers agent won't divulge the sellers need for the upfront payment.  My assumption is he's in a situation where he needs funds quickly and feels this is a last ditch effort.  maybe I'm wrong.  Any and all constructive advice is welcomed.  Thanks for reading and I look forward to learning a bit more from the community!!!