All Forum Posts by: Ricardo Hidalgo

Hi All!

I am a part-time investor, own 5 long-term rentals outright and just getting into the STR's (just bought one in FL a few months ago, using the 2nd home 10% down strategy). I have listened to Avery Carl's book, Short Term Rental, Long term Wealth about 15 times, so far.  (shout-out to Avery! this is hands-down the best all-encompassing book I've ever read or listened to, by a mile) . 

I have a few questions like: 

1) How does everyone get around the debt to income ratio? We have very little debt outside of the STR we just bought on a conventional loan, have excellent income, but I fell like we will basically be limited to buying one more STR. How do you guys get past this hurdle? My goal is to have at least 4 STR's and keep the long terms going to cover for the STRs if occupancy rates decline (ie, another COVID situation or something worse).

2) I have read a lot about maximizing potential and buying many homes in different markets as 2nd homes.  That's great, but what do mortgage companies and the IRS consider to be a "different market"?  Is this simply a different county within a state (more than 60 miles from the first?), or is it a different state, etc...?  I'd like to know the details behind this, as well. 

Thanks

Mike

Evening all.

Apologies for the basic post. Reading and researching as much as I can on str (reading Averys book.) Posts here, podcasts...alot of reference to vacation home 10% down loans. My local lender does not seem familiar. Is this still an option or have laws changed?

Appreciate all the knowledge shared here!

Andy

Hi! I wanted to get some objective opinions. What do you think? 

Looking at choosing between 2 units for STR at the beach off 30a in Florida. Both units in the same condominium complex.

Unit 1 - $500k. No rental history (used for family only). $30k in renovations to be done. 

Unit 2 - $600k. Very solid rental history (slightly above 10% rule). Only minor works to be done. 

Thanks! 

Have access to a healthy amount of capital and I'm looking for larger scale, high end short term rentals that make sense.  Thinking in the $2MM-$3MM range.

What are some of the best destinations with sufficient rental demand to justify a relatively larger acquisition?  

 now this interests me. Are you 6 months or so start to finish? 

 @Ricardo Hidalgo - we have been looking to scale more south and eventually goal is to find a beach home for ourselves. We loved the Destin area - let me know if you are interested in connecting with out of state investors :) 

 now this interests me. Are you 6 months or so start to finish? 

Hello everyone,

I am currently residing in the Bay Area and interested in starting my real estate investment journey. However, due to the high costs associated with local real estate, I am exploring options outside of the Bay Area. Despite having a steady 9-5 job, I am eager to invest in a property that can generate cash flow while still maintaining my 9-5 employment.

While I do have family in Oregon and Washington, I am open to investing in other areas if it makes financial sense. With the current state of the economy, I am uncertain about where to look for a property and what investment strategy to employ.

Please feel free to respond to this post or reach out to me directly if you have any insights or recommendations.

Thank you,

Nikita

Hello BP fam,

We're branching out of Florida and looking to build our Utah portfolio.

We have a few properties we're looking into currently but need to build out our team.

Looking for Property Management primarily and will be adding lenders and inspectors afterwards.

Currently have a SFR we're analyzing in Washington Terrace, Utah and the Ogden surrounding areas.

If you're in that market and interested in connecting, please reach out! 

We currently have 10 LTRs and 1 STR in Florida along the east coast, mostly the Brevard county area while living in Indian River county. Happy to connect about FL REI as well.

Thanks!

Kurtis