All Forum Posts by: Zach Olmstead

Hey Zack!

Sorry about your mom's (and yours) situation. 

I'd say it all depends on how much the improvements would cost. If you can do all the improvements for $50k or less and you're sure you can get $280k for it, you're making a decent return on your investment. Plus the potential buyer would have less to counter on (if that'd even happen in this crazy market lol)

Good luck!

Hi DC!

Congrats on starting your investment journey. Are you only looking in PA? Or would you consider other markets?

Thanks,

Welcome Kyle! I'm originally from Howard County as well, but am now living in Tampa, Florida. I heavily suggest house hacking your first property. Living for free/getting rid of your rent payment is the first step. Wish you the best of luck man!

Thanks @Francis Louis Vogel Jr I'll definitely keep that in mind.

@James Galla Yes, he is new (2 doors) and wants to expand his rental business as creatively as possible now. Gotcha, that makes sense. I'll definitely look for more investor owned homes now.

@Charles Carillo

Ah gotcha, thank you for the wisdom!

Yes, you're right, I've been seeing them get scooped up extra quickly (like everything in today's market).

So I'll definitely look for 10-15+ year owners and make sure to recommend 15% or higher down to my buyer.

Hey all!

Have a client who's looking for a seller financing. What are best and most creative ways you've found seller financing deals?

Very interesting, thanks for the info @Alex J. Yeah, maybe with the rise of remote work we'll start to see people moving around more often or taking month+ "vacations".

Yes, I agree @Dan Maciejewski, the str market is about to go crazy, especially with remote work. I'll definitely have to check out Largo then.

@Alex J. Thanks for your reply. Very interesting stuff. Congrats on helping the couple get the vacation triplex!

I have the zoning map up now, definitely a bit confusing/a lot to it!

So if I understood you right:

- St. Pete Beach and Indian Rocks, less than 30 days is allowed? 

- you're saying that there is solid demand even for 30+ day stays?

- for condos on the beach, str's are very feasible in the case that they allow it, and it's as simple as calling the condo association to ask about their str rules and possible management?

Hey all!

I'm trying to decide between renting by the room and Airbnb for my next property. 

I know the laws are different everywhere, and in my area (Tampa/St. Pete, FL) it seems like Tampa is fine with Airbnb, but I think closer to the beach is more desirable and would be much better for cash flow. However, I know there are weird rules for Airbnb by the beach in St. Petersburg/Clearwater - as I believe you can only have 90+ day stays.

If anyone has any airbnbs in this market and can offer some guidance, that'd be awesome. Would love to connect and talk the numbers behind Airbnb investing.

Thanks,

Zach

Gotcha, makes sense.

Thank you Curt! Good luck in your next flip/rehab!