All Forum Posts by: Ricardo Hidalgo

Recent list I'd thought I'd share from the National Association of Realtors by way of Vacasa. Their analysis showed beachside communities offered the highest ROI. There are a definitely a few locations I've considered and want more info on! North Carolina Coast anyone?

2023 TOP TEN STR LOCATIONS 

Here are the markets that topped Vacasa’s list of the best places to buy a vacation home in 2023:

1. Lake Anna, Va.
Cap rate: 10.32%
Average gross rental revenue: $64,121
Median sale price: $405,500

2. Okaloosa Island, Fla.
Cap rate: 9.08%
Average gross rental revenue: $53,832
Median sale price: $360,000

3. Sandbridge, Va.
Cap rate: 6.47%
Average gross rental revenue: $88,702
Median sale price: $928,900

4. Rehoboth Beach, Del.
Cap rate: 6.46%
Average gross rental revenue: $58,992
Median sale price: $618,000

5. Navarre, Fla.
Cap rate: 6.42%
Average gross rental revenue: $47,531
Median sale price: $420,000

6. Gulf Shores, Ala.
Cap rate: 6.09%
Average gross rental revenue: $48,169
Median sale price: $475,000

7. Palm Coast, Fla.
Cap rate: 5.69%
Average gross rental revenue: $38,212
Median sale price: $360,000

8. Corolla, N.C.
Cap rate: 5.47%
Average gross rental revenue: $80,423
Median sale price: $927,500

9. Nags Head, N.C.
Cap rate: 5.45%
Average gross rental revenue: $53,939
Median sale price: $615,500

10. Rockaway Beach, Ore.
Cap rate: 5.23%
Average gross rental revenue: $37,030
Median sale price: $340,000

These seem like low CAP rates, presumedly because the list maker is factoring their 25-35% management fee and who knows the average down payment or interest rate..

From Brookings Oregon to Rockaway Beach and beyond there are on market listings with stronger projected returns. 

Either way, clear trend towards recreation and water. Haven't found a list for luxury vacation rentals yet..

Do you own or invest in any of these areas? 

Hello one and all,

Bill Roberts here. I just passed my 60th birthday and have entered "Reinvention" (definitely not retirement). I owned a small chain of successful automotive collision businesses ($4+ Million annually) and sold to a much larger chain in 2022. I retained the property on two of the locations, which I leased back to the new collision business under a Triple Net Lease with approximately $4500 -5000 cash flow monthly on each location. So I am not completely new to RE. After all, I am pretty sure that I have lived in a house all my life. Well, except that one homeless period enjoying a nasty winter sleeping in my truck in Cleveland, Ohio after college).

My plan for 2024, is to continue to deep dive into RE education, assemble a strong team (90% there already -Banker, CPA, Attorney, and Realtor at the ready). I have started the coursework for my Agents License (for access and to speed up the process). I have a large enough cash reserve to start deals now. However, as you know from Rich Dad Poor Dad (everyone has read that, I'm sure), to be successful you need the Three E's - Education, Experience, and Excess Capital. So 2024 is my practice year, for the most part. Oh, did I mention, that I am on Biggerpocket Podcast #23 and I found Biggerpocket after reading The Book on Rental Property Investing by Mr. Brandon Turner? My goal is to purchase one multi-family or SFR before years end. 2025 and beyond? Develop the business aspects and scale growth as the market will allow.

I do feel that I have pretty strong business skills and acumen coupled with a strong guerilla marketing basis (Build a better mousetrap and tell everyone about it...including the mice). I love to build, test, and shrink processes in business. BIG fan of the Theory of Constraints!

Live on a farm. Grow and raise a lot of our own food. Been in martial arts since I was twelve and still attend Ju Jitsu weekly. Wife has a masters in engineering, son is a junior at Florida State University studying to be a Material Chemist, and our daughter is sixteen in attending college full-time. That's right - I am the dumb one in the house.

Looking for like minded individuals to share this journey with. Peace...

Hello all,

I'm looking to start getting some advice for purchasing a property in the next 6 months to a year in PCB. I've traveled there several times for the last few years and love the area. Ideally, the properties main use would be STR, but I love multiple exit strategies.

To start, I’d love to strategize with boots on the ground types in the following areas of expertise:

1). Investment focused real estate agents that understand the area and preferably own investment properties themselves.

2). Lenders that specialize in many loan types including conventional, vacation home loans, dscr to name a few.

3). Property managers that are vertically integrated and have their own handymen, cleaners etc on payroll. 

4). Any contractors/cleaners in the area that aren’t already too swamped to read this post.

5). Any investors in the area with success in unconventional terms of financing real estate ie subto, contract for deed, seller finance etc. 

My typical investment in Colorado has been around a ~500k purchase price, and I really strive to purchase property that is $20,000 to $25,000 under market value and that is break even cash flow minimum after operating expense/debt. This is something I would want to continue in PCB for margin of safety. 

Ideally, I would like something with unobstructed views of the beach. I’ve seen the premium for beachfront, but in my head never having a development in front you warrants it. 

I would love to hear from people in the area of condo complexes that have opportunity, are warrantable, and on the beach as well as what I’ll need to work on to be ready when opportunity arises. 

Thanks y’all

Have anyone use Rabbu.com to look at the projected earnings and CoC returns for STRs they have listed on the site? I went to https://rabbu.com/airbnb-for-sale/195-pin-oak-loop-santa-ros... and looked at a bunch of properties all with Coc above 19.1%. I did some more digging on a property, 195 Pin Oak Loop, Santa Rosa Beach, FL 32459, and dicover that short term rental is not allowed. I was unable to get any answer for the projected income of $119K/year after two phone calls to local agents. My question here is how reliable is this information on this site?

I’m new to estimating rent. I’m looking at a couple of different duplexes. 

One is a side by side each unit having its own single car garage. The other is an over-under with no garages or covered parking. 

Looking to gain an understanding on (1) whether or not over/under units typically sell at less than side/side units and by what approximate percent less, and (2) is it smart to estimate less rent for units without a garage/covered parking? Approximately how much less?

Hi everyone!
I'm new to REI and I'm interested in buying small multifamily properties whether it be duplex, triplex, or quadriplex. Preferably tri/quadplex. I'm currently living in Williston, VT and I'd like to go about this virtually. Not much locally around me, or at least nothing I find worth investing in at the moment. I think Ohio would be a good start virtually. What are your go to places for MF properties? Thanks!

My wife and I have been talking about purchasing a STR somewhere in the Florida Panhandle. Prefer single family home to condo but can be swayed depending on thoughts here. My question is this? Is it possible to cash flow a STR and my family can use it for a week or 2 per year? I know if we use it during the busiest time of year that will cut into our profit but we are thinking of buying a few STR in the next few years in destinations we like to visit.

This will allow us to have a vacation home that someone else pays for but build us equity as well. If the market appreciated, then we will have even more upside. I know STR is a lot of work potentially and people don't take care of a STR like they do their own home, but this is very appealing to me to park $75-100k as a down payment for a vacation home such as this and use it as a STR.

I know there are lots of threads on this, thank you in advance. Any other markets we could cash flow a STR and use it a weekend or week per year. I was researching and national park areas seem to be popular but I also don't want to be in ridiculously competitive markets either since we are newbies. Thank you in advance!

I am looking for a 4plex plus in a resort area near a beach (prefer Florida panhandle) but I don’t see many of these anywhere.  Could you in theory buy a 4 plex for $1,000,000, rent 3 units, live in one and only put 50k down?  Thanks in advance for the feedback and advice! 

Anyone willing to share some hidden gem markets for STR, MTR, and LTR? Would love to hear where you have been investing in and how well its been going!