All Forum Posts by: Ben Cogdell

Thanks for the advice!  I ended up running into my neighbors cleaner as I was finishing updates and have started using her. My neighbors unit is highly recommended on AirBnb so that was a fortunate meeting. She has been great so far and also cleans a number of other units in the building.  Great idea to have a backup though. 

Any recommendations for cleaners in the Orange Beach/Gulf Shores AL area? Looking to list first STR in the coming weeks.

Thanks in advance,

Ben

Thanks so much for all the comments and advice.  Sounds like the best option will be to stick with the snow bird and then list towards the end of their stay.  This is what I was leaning towards already but wanted to get some additional input. 

We are closing on a beach condo in Orange Beach AL on 11/15.  The previous owners have a snow bird booked from 12/20-3/10 which I understand we don’t have to honor. The rate is pretty good for a snow bird and considering keeping it. My concern is that I won’t have time to book many short term rentals until after the stay and how that might delay boosting rankings,etc on Airbnb/Vrbo. 

Thoughts/advice?

@Michael Dumler - Good questions. Over time, it looks like the appreciation tracks similar to the national market but has increased more than the national market the past few years (Redfin condo data).

As for the ARM, I was able to get a better rate today and plan to refinance down the road when rates come back down.

@Travis Timmons  - Thanks for your perspective and encouragement.  Looking forward to starting this process after years of wanting to get into real estate investing.

Yes it is a gulf front building on the west side of Orange Beach.

@Michael Baum - Thanks for the feedback and encouragement!

Thanks @Dom Radcliffe.  That was how I was originally thinking about it as well but then I started second guessing myself.

First time investor with a 2bed/2ba condo offer accepted for $475k (20% down with 6.75 10yr ARM) in Orange Beach AL. Currently in due diligence still with appraisal this weekend. Forecasting CoC return conservatively at 15% based on comps but thinking it could be closer to 20% on the high end. I am concerned that maybe we are buying too soon and possibly paying too much vs if we wait to see what market does in coming months. Know that you can't time the market just right but seems we may see some continued price drops.

Please let me know your thoughts.

Ben