All Forum Posts by: Mya Toohey

Depending on Area do STR(short term rental) Check you local, city and state zoning and regulations. As far as getting them out...Cash for keys. IF they are in foreclosure they probably don't have the money to pay rent and won't take care of it. I am a Real Estate Agent in Tampa Florida area and STR and Long Term rentals are the best investment here.

Hello and congrats!!! Yes, it is hard to get started.  I have been an Real Estate Agent for 11 years and still struggle sometimes...Don't get discouraged.  I am currently in the Tampa Florida area and market is tight.  

Start with your SOI send hand written letters to everyone with a card. Hand out cards to your nail tech, banker, anyone that you engage with.  Maybe they reach out but the forward motion really does work.  Manifest where you want to be and set your goals.  

Read Rich Dad, Poor Dad and the Keller Williams agent book (can't remember the name but you can find it!) 

Learn your market backwards and forwards.  Pick a niche that you can focus on. If you want to be an investor agent, join Facebook groups and go to your local meet ups.

I hope that helps! Be consistent and don't give up!!!! You can do it!!!!

All the Best,

Mya

@Lisa Treadwell

Hello Lisa, I am also an agent but in the Tampa Florida area. There is a lot of land that you can use an USDA loan for which really helps out if wanting to buy low with low rates. The question is; what are you going to do with the land??? Build new builds or try and flip it??? Depending on where you buy, you could build a cabin or prefabbed home to use for a vacation home or (STR/AIrBNB/Vrbo) Short term rental...

All the Best,

Mya

@Daniel Christopher

I am a STR Short Term Rental/AirBNB/VRBO specialist here in the Tampa, Clearwater, St Pete, Florida area. I would love to speak with you about what you have to offer my clients.

All the Best,

Mya

@Kenneth Spear

Hello Kenneth!!!  BP has great tools to analyze properties for every type of investing.  I am in the Tampa, Clearwater, St Pete Florida area and love to connect with other agents near by.  How is your market???  Ours is tough right now with deals but they can still be found.  

Happy Holidays!!! 

Mya

@Liam Burns

Congrats on your start up!!!!  One key to it all is GREAT contractors.  You should start speaking with and viewing their work.  With out them, you have nothing.  I am in the Tampa, Clearwater, St Pete Florida area and it is hard to find reputable, reliable, consistent and fair priced contractors.  It is the hardest part of the job here.  Also, having a good Real Estate Agent to help you and on your side is needed.  You will need to list at some point and building a trusting relationship is crucial.  You can find awesome lenders here on BPs in the tabs on the top.  I have spoken with all of the ones in my area and they were all very helpful and had multiple lending options.  Best of Luck to you!!!!! Mya 

@Zach Strong

Hello!!!  I have managing STRs for 10 years now.  I am in the Tampa, Clearwater, St. Pete Area (BEACH VIBES here) LOL!!!  You can find great info here on BP and I am happy to answer any questions you may have.  

1.Check Zoning and regulations and state licensing (don't take other peoples advice, get the facts from your local zoning board, State business regulations and City, even County and Fire Dept) 

2.Make sure no changes are going to be made in the rules.

3.CONSULT a Lawyer and an Accountant. I suggest to Get an LLC just for your management of the property. Last thing you need is to be sued for your personal assests.

4.Does the profit make sense? After all costs and your time as manager...Does it make sense...It is very time consuming...If you have ever rented Long Term, take those questions and you get 20x more in inquiries and questions once there...Speak to a few Management Companies, I KNOW you want to do it yourself but time is money. If you are an investor and have Management Company, or CO-host (VA) they have systems that rank your property higher and will bring you MORE money even though you are paying them. Big companies use Hosting sites that you can ask about..they rank higher and therefor bring you more bookings and more money. AND they handle the workload so can go out and find more deals.

I know its basic, but I have watched so many STRs come and go in my area over the last 4 years,only for the owners to have to sell or lose money.  

I hope that gave you some insight on how to start...

5.

Hello! Congrats!!!  I have been a full time Real Estate Agent for 13 years.  I am in the Tampa, Clearwater, St. Pete area... No matter where you are, start with your SOI.  I know you want to be an investor agent, but, to maintain an income your SOI will always bring someone out.  Also, be an expert in an area.  Learn your area backwards and forwards.  Then market to your local investors groups your specialty.  Farm that area with mailers and Driving for dollars.  Send letters and cold calling is hard but when you start out, it works.  Also, read, Rich Dad, Poor Dad and the Keller Williams Real Estate book (can't remember the name but you will find it) both helped me when I started out.  Best of Luck!!!! Happy Holidays!!!!! Mya

@Ravi K.

Hello! I have been an investor and STR host for over 15 years. I am in the Tampa, Hillsborough, Clearwater snd St Pete, Pinellas County and surrounding areas. Even all the way to Bradenton in Manatee County. I buy and sell high producing STRs, we flip or buy turn key, set up, stage, design and Host in those areas, I'd be happy to help if you want to come down to beach!!!!

Hi @George Guerrero @Dakoda Spencer

Hi!!!  Always, always get to know your market.  Wherever it is...Know everything about it...What type of renters, what type of attractions, does your property fit those needs???? Make sure to learn how to enter, manage and follow up with your platforms! If you use a host or co-host, make sure you understand all of the fees and or benefits they offer and for what price % of Net or Gross??? Make sure you know if you have to have garbage pick up or is the cost included? Every Area has different rules and regulations, follow them, just because they are not being upheld, they may later, and you don't want to be caught with your "pants down".  Always have three or more viable exits strategies, the market may crash, (we all hope not but) does your LTR cover your bills, Does Section 8 cover, would room by room rentals work in that area, Do you have a corporate rental need?,  can you use as a government agency lease (halfway houses-foster care home-Injury Care housing, veterens Housing) can it be used as commercial space???  the list goes on, but if all else fails, would you live in it or a family member??? You can not guarantee anything these days, so, (sorry if I scared you ...LOL...but..you have to know the facts before you get into something new.  Best of luck and happy holidays.