All Forum Posts by: Ron Baxter

Hello. I would love to join your group also. I have two rental properties, one in Flagler Beach as a long-term rental and one in Ormond Beach as a short term rental.

Actually, Rolly, I have a property manager now, Oceans Luxury Rentals. So far, they are doing a good job with my condo on A1A. I live & work in Utah and it's hard to get back to Ormond Beach but I love Ormond Beach and Flagler Beach and I want to buy more vacation rentals because the one I have has been so successful. I'm really glad to hear from you and to know that their is someone else investing in the area. I would love to stay in touch with you. Thank you for replying.  

I have not heard of that one. I know Vrbo was absorbed by homeaway or vice versus. Airdna like those?

Has anyone had experience with short term rentals in the Flagler Beach, Ormond Beach, Daytona Beach area? I’m buying my first condo and all the numbers line up to make it a great deal but I want to be prepared for the negative things that could happen.

Thanks

I’m purchasing a str condo in Ormond Beach, FL right on A1A. A great location.

Investment Info:

Single-family residence buy & hold investment.

My strategy is to buy and hold in or near the St. Augustine, Fl market. This is my 2nd investment in the area. I want to move into multiple family, commercial and self-storage.

What made you interested in investing in this type of deal?

Nice home to live in for the first year, then rent it out. Really nice development with amenities.

How did you find this deal and how did you negotiate it?

Made offers through my real estate agent.

How did you finance this deal?

FHA Conventional.

How did you add value to the deal?

Made minimal improvements to the property.

What was the outcome?

Good rental, working on improving my cash flow.

Lessons learned? Challenges?

Watch out for properties with HOA's. They can sap your cash flow and put you in the negative each month.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

yes. Barbara Tatro with Watson Realty in St. Augustine, FL.

I don't have any yet but it's part of my long term strategy. Flipping for cash is short term goal to accumulate cash then go to buy/ hold. I had rentals in TX a few years ago and loved the income from those. Let's stay in touch & if you ever want to come down let me know. We love it here!

Jeremy, you are spot on. I can relate to what you are saying. I live in Florida but grew up in Wichita, KS, not far from you.  I feel really good about investing in Florida & I'm just getting started since moving down with my wife. Vacation rentals are popular here as you can imagine.

good idea, Don. Thanks