All Forum Posts by: Patryk Sommer

@Matt Ashbrook hey Matt, i definitely understand your struggle it took me the majority of 2019 to find a property I could house hack, due to the limited inventory we have of multi family properties in Pinellas I was constantly getting beat on offers or they would get snatched within 24 hours but I was able to find a triplex in Clearwater for less than 100k a door so keep looking a great deal is out there!

Yes they would be bringing the Bussiness  and i would be actively managing it. 

@Catherine Emert

I’m sorry if I made it little confusing in my original post, to clarify, I manage about a dozen doors and the company manages a few hundred but as they grow they want to assign X amount of doors to different property managers such as myself so they can continue acquiring more accounts without spreading themselves thin, so basically what would be a fair rate/split to receive to manage accounts that are assigned to me.

What is the typical fee/split for property managers managing a portfolio of rentals. Currently the PM company I’m apart of charges owners 10% rent but as were growing we want to assign X amount of homes to a certain person to manage. What would be a fair split? These would be accounts the company would be providing.

Just DM'ed you, i mainly do property management in the clearwater/st Pete area 

@Mike Hibbs I did not end up buying a condo due to the condos in Innisbrook being classified as a condo-tel meaning I was not able to get a conventional loan and leaders I talked with required 30% down on them and at an 5 or 7 arm. Currently remodeling a 3/2 in palm harbor and plan on turning it into a vacation rental.

@Eric A. other than special asssentments and hoas fees which is low and they have not had any assements on record, what other expenses am I forgetting? 

@Erica A. when checking the past sales for the last 3/6/12 months those prices fell in line with previous sales.

Hi everyone, I am considering buying a 1/1 610 sqft condo in Innisbrook palm harbor which is a luxury and famous golf resort and hosts PGA golf tours etc. 70-75k for a unit, plan on living there for a year than Air&b it, multiple listings are booked months out for 80-120 a night, and near 200-300 during golf tours. I have also checked to see long-term rents rates in case laws or restrictions change and it would be enough to still be positive, I have requested and read their HOA bylaws and they do not restrict short-term rentals either. Just looking for a general opinion on this purchase, Thank you!

Thank you for the pointers, the strongest factor towards why I'm concerning a condo vs an SFR or multifamily is for the initial investment required. in palm harbor, there are plenty of condos in the lows 100s and even some under 100.