All Forum Posts by: Ricardo Hidalgo

I am new to investing and looking for the best area to start. I am in NY BUT looking to move to either NC, SC or FL in a year. I was looking for either a home or condo by the beach because they seem more easy to rent weekly. I would need a mgt company to watch over it but don’t know the best percentage to look for.
Any wisdom from you seasoned investors is greatly appreciated!  Thanks in advance and taking time to reply. 
Blessings. 

I’ve recently seen a couple of stories on social media about a so-called “crash“ with Airbnb bookings in several markets, so wondering if anyone who actually owns is seeing it firsthand?

Hi all,
this is my first post on bigger pockets! I am a realtor/engineer with a couple of short term rental properties in the Dallas/Ft worth area. As of recently, I've wanted a change of scenery. I am looking for recommendations on good beach cities in the US to invest in for a STR. I have the ability to work remote, so my plan was to pick up a property on a beach (been browsing Florida lately). While I furnish it, I was planning on living in it throughout the process of prepping it. So that my cost of living could be going towards my investment. Plus I'd fulfill my dream of living by a beach for as long as I please.

Any recommendations?

Hi,

Thanks in advance.  I live near Tracy. I feel better to invest in California where I can drive easily like Fresno, Sacramento, etc., I see few of my colleagues are investing in Florida. I would like to get your feedback. 

I would love to hear what made you get started in STR? What are you hoping to achieve by investing in STR? What does having a STR give you that other strategies do not?

Hi. Looking for a replacement property (1031). I currently have one in Marco Island and was considering Naples or Tampa area but also thinking about the East coast. Suggestions on best places to consider for a higher end property (up to $2M)?

I would love to hear what made you get started in STR? What are you hoping to achieve by investing in STR? What does having a STR give you that other strategies do not?

I'm brand new to investing and planning on purchasing my first short term rental in Navarre, Florida. I'm have a really hard time running numbers to get an accurate idea of how much it will cash flow and it it would be a good investment to move forward with or not. I've used about five different calculators and seem to keep getting a wide range of numbers none of which I trust.

Anyone willing to look what I have below and tell me where I might be off?

Will there be Capital Expenditures for this condo in addition to the HOA fees and Quarterly assessments?

Navarre, Florida

Condo: Studio, 1 bathroom, bay view, fishing pier, pool, gazebo, boat parking, sleep 4

Purchase Cost: 290k

Interest Rate: 7%

Closing Cost: 3% ($8700)

Cap Ex: 10%

AirBnB Fees: 3%

Management: None (self managing)

Loan: 10% Down; Conventional Second Home

Property Taxes: $3388/yr (from county assessor's office)

HOA: $523/month (includes cable, trash, maintenance)

Assessments: $5600 (based on neighboring unit)

Insurance: $1800/yr (based on neighboring unit, condo covers exterior of property)

Internet: $55/month (Googled average; basic cable in HOA fees)

Electric: $131/month (Googled average)

Water: $25/month

Maintenance/Repairs: 1.5%/month (based on maintenance performed in 2022)

Gross: 43k (based on neighboring unit, is on par with the 75th percentile for AirDNA and similar properties on Rabbu)

State tourism taxes: $245/yr (based on neighboring unit)

BP Calculator:

Monthly cash flow: -$55 /mo

Income: $3,583 /mo

Expenses: $3,638 /mo

CoC ROI: -1.76%

Hi! I am currently 20 years old and have roughly 100k saved from a previous business. I want to get started with real estate but don't know which route or what kind of loans to do. I live in south Florida so real estate is pricy. I thought about out of state investing in section 8 since its scalable, maybe a BRRRR although I heard this takes longer than expected. I would love to invest my money in a way that I can make passive income instead of having it sitting in the bank. I am young and blessed to be where I am now I just don't want to make the wrong move and throw it all away.

Any suggestions? 

Hey all,

I have a cryptocurrency investment that has matured nicely. I am thinking about an exit strategy.  I have a full time job and don't really want to self manage so any real estate would need to be fully managed and I'd basically just be collecting an annuity, if you will. 

I'm 38 years old making roughly 250k per year. I'm thinking about one thing. Retirement (seriously). But I can't seem to make the numbers make sense. 

option 1 - 500k into a mutual fund earning 8% generates about 40k a year. Not bad but not retirement level money

option 2 - single rental, no mortgage maybe makes $3000 per month or roughly the same as option 1.  

option 3 - OPM. 30k each down payment on 15 doors (section 8 maybe?).  Even at $200 per door I still make the same $3000 a month. I feel like I should be able to make more though.  I would also have 15 assets. This feels like I could retire quickly if I did some basic things right. Ultimately id like to make 10k per month but I could live on less. Can someone help with real world numbers for how I should invest this money and leverage it to maximize my return?