Zeona McIntyre

View Original

TurnKey VR Investments: Finally, a company that does it all! From Purchase to Furnish to Management

One of their expertly designed bedrooms

Hi Everyone,

While I was at GuestyVal, I made many valuable connections, one of them was to the brothers behind DesignedVR.com. Their front is as a management company but I am here to blow open their invite-only secret, that they are also providing fully Turn-Key, Vacation Rentals Investments! Shahar Goldboim is a local Broker in the Ft. Lauderdale area so he can assist eager investors through the process from searching to close, then they have relationships with wholesalers to get under market discounts on furniture that they plan, design, and install for you. Lastly, they will manage the home completely from start to finish. The bonus (as if you need more convincing) is that their background is in analytics, so they have designed a ease to use, fully transparent website that allows you to see all the breakdowns of how your investment is performing. Truly a hands off experience.

For the last 1.5 to 2 years, many of you have reached out to me hoping that I could offer a similar investment opportunity and although I wanted to help, it was too time consuming and complex for a single operator like myself to manage. I am so grateful to have found these guys, and to be able to give interested first time or hands-off investors an entry into the exciting industry of Vacation Rentals which is exploding into a valuation of $167.9 billion in 2019.

Without further ado, let me introduce Shahar and let him speak for himself.
------

ZM: Hi Shahar, thank you so much for allowing us to share your amazing industry offering, I am really excited about it. Can you tell me where the idea for your company started?

SG: The idea for the company came from us, the founders that created it. I’m an investor and broker for real estate. My wife Kat is an interior designer, with a background in furniture retail and hospitality.  We did a few small house flips in the past and enjoyed the idea of vacation rentals. But not just any ordinary space - we target, and design real estate that is desirable for travelers and designs them in extraordinary ways creating an amazing experience for our guests - much more than just a place to sleep. Along with impeccable hosting, we did well - but out investors wanted streamlined reports. So I asked my brother Alon, a talented software developer to join the team. His expertise would allow us to have a systematic dashboard to allow investors complete transparency on what their investment is doing - along with launching a website where you can understand the process. We have an amazing team of professionals that provide a great return to our investors.


ZM: What areas of Florida do you cover and help people buy in?

South Florida makes for a gorgeous getaway


SG: Currently we do South Florida (Sunny isles to Fort Lauderdale )



ZM: I love that this can double as an actual vacation home for the owners, since I usually buy in areas that make money, but don’t have as much as a vacation draw to me personally.

SG: Yes this is an perfect option to have a second home in Florida that you can use a few times a year and still make money on it during the year we have complete control of the calendar and more flexibility than leasing it for months at a time.



ZM: I have heard that some cities in Florida can be tricky, how are the Vacation Rental laws where you operate?


SG: We invest only in areas where we can operate the property with all of the licenses needed from the city and the state. This predetermination of legality is part of the services we offer.




ZM: Before we get too excited, let me know what the minimum purchase investment is that you require. And what is the typical range that you see doing well?


SG: We normally will look for investment that are $250,000 and up.




ZM: Do you shoot for a certain # of bedrooms or house vs. condo, or is that up to the buyer and the capital available?


SG: We generally prefer to focus in single family houses or Converted hotel type of buildings. Apts and condos tend to have HOA that can complicate situations and can make their own rules regarding vacation rentals.




ZM: Say I am an investor from Seattle and I don’t know anything about Ft. Lauderdale, walk me through the process of how you would help me find the right property.


SG: First we will need to understand the investor’s intentions. If it’s for investment only or a combination of a second home and investment. After, we will need to understand the capital you would like to invest. Cash or mortgage?
Next step is we will find you the perfect property for your investment need.




ZM: Let’s move onto Part Two: Furnishing. Which many people dread or feel inept at. How do you orchestrate this process?

*Actual before and after of an apartment they remodeled/furnished.


SG: Our designer will tour the property and decide what style of furniture is needed and what direction the property needs to take in terms of creating an experience for guests. We will take a virtual tour of the property which will allow the designer to be in the house 24/7. We have great connections of wholesalers in furniture so we aim to get good quality furniture for low prices. In addition to furniture we will stock the kitchen, bathrooms, bedrooms and living spaces with everything needed for living in a home. From towels to artwork to spices in the kitchen we have a system for every detail so guests feel completely at home.. but even better… on a luxury vacation.




ZM: What are the costs associated with it? Could you give an example of what a typical 2bdrm would cost to fully furnish? What is the timeline on furnishing? Do you start while it is under contract? From close to live listing, what do you think the typical timeline is?

A home decorated by the Designed VR team


SG: 2br 2 bath including our fee, furniture, stock and consumables-  would be approx 8k
We will start as soon as we have the ability to get property ready - without the risk of losing money because the deal didn’t close. For example - if the contract has a mortgage contingency or the new owner wishes to renovate.  2-3 weeks will be our timeline from raw beginning to listing it.



ZM: Let’s move on to Part 3: Management. What do you charge for this service and what does it cover?


SG: Our management service charge is 20%
We cover:
Guest communication
Monitoring the property
Smart pricing algorithm
Marketing distribution
Cleaning and Maintenance with our subcontractor ( cheaper price for client with good results)
Paying all of the bills
owner dashboard


ZM: I really love the analytics website your brother showed me at GuestyVal, can you tell me about what variables the owners will be able to see regarding their investment?  


SG: All of the income and all of the expenses that are associated with the property. You can see the net income to the cent. It shows exactly how much expenses-  ie “ consumable products for guests, utilities, Maintenance, management fees etc) Also you see the listing, calendar, average nightly rates, and occupancy rates - all in one clean user friendly page.



ZM: Of course, every investor wants to talk about returns. Can you tell me what you have been able to get for your investors?

SG: For now we are showing returns of 10% cap and more



Thank you again for taking the time to share your incredible offering with my readers.

Mention that you heard about their company on ZeonaMcIntyre.com and receive a personalized consultation to see if it’s a good fit.

Contact: Shahar@designedvr.com

TAKE ACTION:

  • Create your Airbnb listing today (We earn a referral bonus for up to 5 new listings per profile)

  • Track your Net Worth (get $sign up, it’s free!)”20 when you