All Forum Posts by: Srini Murthy

I was also in a similar market like you where the 1% rule doesn't make sense but the properties appreciate a lot. I decided to go out of state in Cleveland, OH and purchased a SFH with a turnkey company. The numbers work better and the area has also seen a lot of appreciation since my purchase so overall a good experience. Let me know if you want to connect and chat about that.

I am interested AJ, can you please DM me?

0 Votes

Cape Coral, Florida

Quote from @Clayton Smith:

Quote from @Srini Murthy:

Hi All

I was looking at a property right now in Tuscaloosa and saw Jennifer's comment below

"STR for about 10 years and did well until the city imposed restrictions that just made it too much of a hassle".

What restrictions are these?

If you are inside the city you have to apply for a zoning ordinance that will allow for STR. They are very strict and monitor to find and shut down unauthorized STRs. Just went through the process and it was not terrible but it was a pain. They only granted us 10 true STR stays for the 1st year. Said if everything went fine they will extend it next year. In my opinion it's more of it being new and not knowing what to do than being against STRs. They of course want their tax cut.

- Srini

Thanks Clayton! What is considered STR? is month to month STR or STR means the VRBO kind of couple day stay?

0 Votes

Tuscaloosa, Alabama

Hi All

I was looking at a property right now in Tuscaloosa and saw Jennifer's comment below

"STR for about 10 years and did well until the city imposed restrictions that just made it too much of a hassle".

What restrictions are these?

- Srini

0 Votes

Tuscaloosa, Alabama

Originally posted by @Matt Nico:

Originally posted by @Anthony Catoni:

Hello Everyone,

I am looking to connect with investors, wholesalers, hard-money lenders, realtors and contractors in Florida. I am looking into Orlando, Sarasota and the Tampa areas, but I am open to others as well. I am looking to BRRRR and/or BRRRRnB. I currently live in Columbia, SC, but am originally from Orlando and have lived in the Sarasota/Tampa areas. My goal for 2021 is to acquire 3 rental properties that cash-flow at least $100 with a target ROI of 10-12%. If there are any Facebook groups or meetups, please let me know. I look forward to connecting!

Hey Anthony,

Love the goal setting, but I think you should shoot for a higher Cashflow number as well as ROI. I'm hitting $700-$1,000 a month in cash flow on my newest properties in the Orlando market and that comes out to be about 18% ROI I believe. If you are going to set goals, swing for the fences man and get after it.

Depending on how you want to invest your money, I can put you in touch with someone in Tampa/St. Pete if you want or could help you personally if you wanted to see my area.

Happy Housing,

Matt

Hi Matt,

Looks like you are hitting it out of the park, those are insane numbers. I looked at a fourplex and only saw $200 Cashflow and 6-7% Cash on Cash. What is your secret?

thanks,

Srini

1 Vote

Originally posted by @Colton Cook:

@Srinivasa Murthy

Hey, i’m a local contractor in town: what I’ve noticed is most of my investor work is slowing down. Some of the major investors we work with haven’t been bringing any new work since the beginning of August. Been tough for us lately. But, that is purely anecdotal.

Still finding some decent looking deals in Houston, though!

@Colton

I am thinking next year all college towns will rebound right with the vaccine ?

0 Votes

Originally posted by @Abe McLaurin:

Have you looked at Columbus, Ohio? Properties are beginning to appreciate nicely and the population growth only adds to the mix. I'm originally from Colorado and the prices in Columbus are incomparable!

No I haven't, will definitely check it out. How is the rental market in Columbus?

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I am a new investor looking to invest in College Station texas? Is it a good market with the COVID going on as it is mostly a college town?

2 Votes

I am curious what decision you made on the love-at-firstsight MF!!

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Hi I am a newbie, can I attend??

thanks,

Srini

0 Votes

All Forum Posts by: Srini Murthy

Srini Murthy has started 5 posts and replied 59 times.

Post: 100k to invest. Short or long-term? Single or duplex?

Post: Looking for investment opportunities in tuscalooa

Post: Looking for investment opportunities in tuscalooa

Post: BRRRR/BRRRRnB Orlando-Sarasota-Tampa Networking

Post: Invest in Texas or California

Post: Invest in Texas or California

Post: Invest in Texas or California

Post: Help! I've fallen in love with a long-distance MFH! What's my next step?

Post: Atlanta Networking Events