All Forum Posts by: Sara Levy-Lambert

1. As a first-time investor, it's important to carefully consider your goals and objectives. Are you looking to generate passive income through short-term rentals, or are you more interested in long-term rental properties? Each strategy has its own set of risks and benefits, and it's important to choose the one that aligns with your financial and personal goals.
2. If you're considering investing in short-term rentals, it's important to thoroughly research the market and understand the local laws and regulations that may impact your ability to operate a successful business. In some areas, short-term rentals may be restricted or banned, so it's important to be aware of any potential challenges you may face.
3. If you're currently renting a home and are considering investing in real estate, it's worth considering the possibility of house hacking. This strategy involves purchasing a multi-unit property and living in one unit while renting out the others, which can help offset your living expenses and generate passive income.
4. Ultimately, the best investment strategy for you will depend on your individual financial situation and goals. It may be worth consulting with a financial advisor or real estate professional to explore your options and determine the best path forward.

Here is a list of pre-analyzed properties in Crystal River
LTR
https://awning.com/a/investmen...

STR
https://awning.com/a/vacation-...

Look up Jacob Brenyo - he's an expert in that area.

• It's not uncommon for cheaper properties to have higher operating costs, especially when it comes to cleaning fees. It's important to carefully assess the expenses and make sure they are in line with the income potential of the property. Don't be afraid to negotiate with the seller or cleaning service to try and bring those costs down.
• While seller financing can be a good option, it's important to make sure the terms are favorable and the property has the potential to be cash flow positive. It's not worth getting into a deal that drains your resources, even if the interest rate is low. Look at the big picture and make sure the investment makes sense for your overall portfolio.
• If the numbers aren't adding up, it's worth taking a step back and reassessing the situation. It's possible that you are overlooking some costs or that the property just isn't a good fit for Airbnb. Don't be afraid to walk away from a deal if it doesn't make financial sense.

• It's a mystery to me why some guests seem to think it's okay to open the windows while the heating or air conditioning is running. It's not only wasteful, it also runs up the utilities bill and makes it more difficult for the climate system to maintain a comfortable temperature. It's especially frustrating when it's extreme temperatures outside and the guests are just letting all the cold or heat escape.
• I understand that fresh air can be nice, but it's important to be mindful of the impact on the utilities and the climate system. If you want to open the windows, it's best to turn off the heating or air conditioning first. It's just common sense and respect for the property and the other guests who will be staying there.
• In high-end units, we may be more lenient and let the guests do as they please, but in the more budget-friendly units, it's important to set some boundaries and make sure the guests are aware of their impact on the utilities. It's not fair to the host or future guests to have to deal with unnecessarily high bills because of one person's inconsiderate behavior.

Add it into your manual and see if it works, if not, raise your rates to offset the cost.

• When it comes to splitting utilities, HOA fees, and other expenses, it's important to be transparent with your tenants and to clearly outline the terms in your rental agreement. One option is to include a provision in the agreement stating that the tenant is responsible for paying their fair share of these expenses, based on the percentage of the property they are renting. This can help avoid misunderstandings and disputes down the road.
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  It's generally a good idea to be upfront with prospective tenants about any limitations or restrictions on the property, such as access to certain areas or amenities. This can help prevent misunderstandings and ensure that you attract tenants who are a good fit for your property. That being said, it's important to be reasonable and not impose too many restrictions, as this could limit the pool of potential tenants.
  
• When selecting tenants for your STR, it's important to thoroughly screen them to ensure they will be a good fit for your property. This can include verifying their employment and rental history, conducting a credit check, and checking references. You may also want to consider including a clause in your rental agreement outlining the types of behavior that are expected of tenants, such as respecting the property and being considerate of neighbors.
  
• As for pets, it's up to you whether or not to allow them in your STR. If you do allow pets, you may want to consider imposing a pet fee and/or requiring a pet deposit. This can help cover any potential damages or extra cleaning that may be required. You can also specify certain types of pets that are allowed or not allowed in the rental agreement.
  
• As for parking, it's generally a good idea to be flexible and accommodate your tenants' needs as much as possible. If you have a large driveway and garage, you may want to allow your tenants to use these spaces, as long as it doesn't cause any issues for you. However, you can also include provisions in the rental agreement outlining the terms of parking, such as the number of vehicles allowed and the designated parking areas.
  
• As for property management companies, there are pros and cons to consider. One pro is that a property management company can handle many of the day-to-day tasks and responsibilities associated with running an STR, such as marketing the property, screening tenants, and handling maintenance and repairs. This can be a good option for busy landlords or those who live far from the property. However, property management companies also charge a fee for their services, which can be a con for landlords who prefer to manage their own property.

• One way to identify winning neighborhoods for STRs is to research local tourism data and trends. This can help you understand the demand for vacation rentals in different areas, as well as any seasonal fluctuations in demand. Some sources for this data include local tourism boards, online travel agencies, and industry publications.
  It's also important to consider the specific location of the property within the neighborhood. Look for properties that are close to popular tourist attractions, public transportation, and amenities like restaurants and shops. These are the types of features that travelers value and are willing to pay for.
• Another strategy for finding strong locations for STRs is to look for neighborhoods with a high concentration of short-term rentals. These areas may already have a proven track record of demand, and they may also have a supportive local community and infrastructure in place to support vacation rentals.

1. One of the most important metrics to consider when looking for a long-term short-term rental investment is the location of the property. Look for properties in desirable areas with strong demand for short-term rentals, such as popular tourist destinations or areas with a high concentration of business travelers.
2. Another key factor to consider is the condition of the property. Look for properties that are in good repair and well-maintained, as these will be easier to rent out and will require fewer repairs and maintenance expenses.
3. Another important metric to consider is the potential for income and profitability. Look for properties that have a strong track record of generating high occupancy rates and good rental income. You can also consider properties that have the potential for future price appreciation, which can help increase your overall return on investment. Google awning airbnb investing for properties that are already analyzed to get an idea for an area or a specific home
4. Finally, it's important to consider the expenses associated with owning and managing the property. Look for properties with low operating costs, such as those with low property taxes, insurance costs, and maintenance expenses. This will help ensure that your investment is as profitable as possible over the long term.

1. One of the most effective ways I've found to stay up to date with short-term rental laws is to work with a law firm or attorney who specializes in this area of real estate. They can provide guidance and advice on the latest changes to the laws and help ensure that my business is in compliance.
2. Another tactic that has worked well for me is to use Google Alerts to stay informed of any updates or changes to the laws in my area. This helps me stay on top of the latest developments and take any necessary actions to ensure compliance.
3. In addition to working with a law firm and using Google Alerts, I also make it a habit to regularly review the local ordinances and regulations that apply to short-term rentals in my area. This helps me stay up to date on any changes that might impact my business.
4. Finally, I find it helpful to network with other short-term rental owners and operators in my area to share information and best practices. By staying connected with others in the industry, I can stay informed about the latest legal developments and learn from the experiences of others.

1. One of the first steps to becoming a successful real estate investor is to educate yourself as much as possible about the market and the different investment strategies available. This might involve reading books, attending seminars or workshops, or working with a mentor or coach who has experience in the field.
2. Another important step is to set clear goals for yourself and develop a plan to achieve them. This might involve creating a budget, identifying potential investment properties, and creating a timeline for your investment journey.
3. Once you have a solid foundation of knowledge and a clear plan in place, it's time to start looking for investment opportunities. This might involve working with a real estate agent or broker to find properties that fit your criteria, or networking with other investors to find off-market deals.
4. One thing to keep in mind is that real estate investing can be a riskier endeavor than other types of investing, so it's important to be mindful of your risk tolerance and to diversify your portfolio as much as possible.
5. Finally, don't be afraid to ask for help and guidance from experienced professionals. Working with a team of advisors and professionals can help you navigate the complex world of real estate investing and increase your chances of success.

1. It sounds like you may have found a good candidate for a short-term rental property, and the fact that it recently went under contract but is now back on the market could present a good opportunity for you to make an offer. In terms of structuring your offer, one option to consider is a subject-to deal, where you take over the existing mortgage and make payments to the lender directly. This can be a good way to save on closing costs and potentially secure a lower interest rate, but it's important to carefully review the terms of the mortgage and consult with a financial advisor before proceeding.
2. When it comes to approaching the realtor and making an offer on the property, it's important to be transparent and clear about your intentions and financial situation. Explain your interest in the property as a short-term rental and outline your proposed offer, including any contingencies or conditions. It's also a good idea to be prepared to negotiate and be willing to compromise to reach a mutually beneficial agreement.
3. As a new investor in the short-term rental market, it's important to do your due diligence and carefully consider all of the potential risks and rewards of any investment opportunity. Make sure you have a solid business plan in place and be prepared to put in the work to get your property ready for guests. With careful planning and a bit of perseverance, you can succeed as an Airbnb host in Port St. Lucie or any other location.