Real Estate Leaders Speak Out Against RacismTop RE brokerages recently contacted agents. A Keller Williams task force will work “to eliminate racial disparity.” Redfin plans a deeper analysis of
Multi Families Are Out Short Term Rentals Are In
All my investors these days are asking for multi family with value added AND off market but the opportunities at a good cap rate are not out there as the demand for these types of properties continue to grow. My clever investors are looking for alternatives and short term rentals are the answer. The short term rental market is hot and very popular with millenials and baby boomers alike. Both of these groups embrace technology and using their apps to find what they need so whether they are vacationing, visiting family out of town or on business this is where they look for lodging instead of traditional hotels. They feel it's more comfortable and a better value than a hotel and they like having kitchens and other amenities you do not get in a hotel. There are several platforms for their search VRBO, Airbnb and Homeaway being some of the most popular.
From the investors perspective they can triple or quadruple what a rental would be with a traditional lease and in some cases if they purchase a luxury home they can obtain the same income in one property than they can having a smaller multi family rental building with more management issues. Management has become very easy also for these types of rentals as several specialty companies have popped up that do everything for the owner including finding the renter, cleaning, repairs, and even leaving personal touches like candies or special soaps to make the experience unique. Private local specialists are available for management or Turnkey (owned by Airbnb) and Evolve which are large platforms are just a few companies that you may contact to help with your property.
Let's look at a case study of a real property which is off market in Jupiter, Florida:
Purchase Price for this new construction furnished with pool, hot tub, boat, and jet skis is :
Daily rental is $1500 with a 20% vacancy rate ( which is unlikely in Florida our weather is lovely all year) income would be $438,000 and lets subtract a 10% management fee you can earn $394,200!!!! Now thats nice income. Or just use it to pay for this luxury waterfront with turquoise waters and a BOAT in just 8 years. Contact us to learn more about these and other unique opportunities for GIA Elite of Illustrated Properties. Or if you are looking to sell ask us how we can bring your home to our investors to get it sold fast.
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