All Forum Posts by: Samuel Boyd

I have a partner that has multiple turnkey condo units available in cocoa beach. They are beach front, have full management in place (if desired), and years of rental history (can provide financial info after receiving proof of funds). They are 2/2's and are beautifully done. They are in the $600-$800k range. Please let me know if you are interested and I'll connect you!

@Branden Jordan Also, happy to help give a second opinion! I work with properties in Cocoa all the time and I love running numbers (Engineer in my past life). Let me know man!

@Christian Ryan Hey Christian! I do have a few guys local to Melbourne/ the beaches that might be interested in this project. Did you still need help with this? 

@Kerry Baird Totally correct with the regulations. Literally every municipality has its own rules, but once you get organized its really not hard to keep track of. Definitely a little more set up work in Mel Beach but SO worth it. I am trying to get a property over there as soon as I possibly can. Also, yes! I have been attending the monthly BREIA meetings at Hell N Blazes but if there is any other networking events that you know of in the area, please let me know! Always trying to connect with more people.

@Oscar Guzman Hey Oscar, I see your frustration with the insurance market in Florida. Honestly, it's a nightmare. We used a company called Proper for our short-term rental policy in Palm Bay. They provide a STR-based policy with up to $4M in liability, building replacement costs as well as contents and loss of business income. Super unique policy basically everything that we would have wanted. Only catch is that they no longer offer wind coverage in FL... If you have any more questions about it please message me!

@Cory King congrats man!! That's a good find. I like how you got creative on the financing as well. I am a local Realtor over this way, I see that you are already under contract, that's epic. You did a great job and priced it right. I see you are working with Keller Williams and I'm sure you have a great relationship with them at this point. I just wanted to say I'm a local investor and Realtor and would be happy to help you with any of your future deals. Seriously if you need a contractor, painter, plumber, and someone to run the numbers and advertise I can get it done. Congrats again and I look forward to working together in the future.

@Leslie Villareal Congrats Leslie!! Ok first of all your furnishings look AMAZING. I love what you did with the space. We just did the same thing in FL and saw our gross revenue jump from $1500 to over $6000 a month. The cool thing for us too is that our property is maintained MUCH better than it was with tenants. It looks the same as it did when we first opened so I think the STR strategy also really helps to preserve your hard earned asset. Curious if you found the same :)

@Daniel Bolous Hey Daniel, that's awesome congrats on saving up some capital that's my goal right now. I am very interested in partnering with people especially those that want to fund the deal and simply be a lending partner and act as the bank with a guaranteed ROI. Otherwise, we could structure an equity split. We can get into the details later if we are on the same page, but I'd love to set up a phone call to discuss your goals and how we can make it happen. I'm willing to put in the work for sure! Hit me at 443-243-8684 I'd love to make the intro.

@Eddy Ogbekhilu Thanks man!! I would highly support that move. What we saw is that not only are you increasing your revenue, but your property is consistently cleaned and professionally maintained. After a year or 2 our LTR's were just really in bad shape after having tenants but the STR looks just as it did 6 months ago, its seriously awesome.

For insurance, we used Proper. They write a policy tailored to STR rentals. Our policy has $4M in liability coverage, insurance against the entire building as well as contents, and loss of business revenue for $3400 / year. The only catch is that they currently don't offer wind coverage in FL... You can always elect to keep your traditional homeowner's insurance and add a liability policy on top. If you want me to connect you with someone for this, I'd be happy to help with that as well!

Hi Dona. That is so exciting you are thinking about coming over this way to FL!! I came to the space coast (central on the east coast, Bravard county / Melbourne area) 8 years ago, fell in love, and never went back. As I'm sure you know the FL market as a whole has appreciated greatly, but there are still pockets of very affordable homes. I would recommend you check out the Melbourne area. It is still low-key, but up and coming with lots of exciting developments. Beautiful lagoon, parks, and beaches, and still SO affordable. In general, as you travel from Miami north it will get less expensive and less crowded. We are about 3 hours north of Miami. I am a Realtor, and investor in this area and I can help put you in touch with any and all contractors, roofers, plumbers, electricians, etc. you might need for a flip. I would also highly encourage you to consider a new build vs a flip. most of my investors are only hitting their margins with new builds and not flips, and I have a guy who can do them really cheap. Let me know if there is anything else I can do to help or if you have any more questions :)