All Forum Posts by: Candace Pfab

Hi Greg!  We have been investing in this area since 2009.  You can check our most deals & reviews where we have helped other BP members here:  

Pfabulous Real Estate/eXp Realty | BiggerPockets - click on deals tab or reviews

Happy to set up a time to chat.  We can share sample deal checks with you & tell you what we see coming!

Hi Amy.  We are based in Orange Beach and have been investing in the Gulf Shores area since 2009 and have helped many BP investors do the same. 

Looking forward to connecting!

I understand, but self management is not for everyone!  We have both types of clients, so I think it is important for buyers to understand their options and what will fit their life/goals the best :)

Exactly.  STRs require more management - 1 to 2 new guests per week which involves managing 50-100 guests per year, marketing the property, managing bookings, guest communication, scheduling cleaners, higher level of maintenance (think lightbulb changes, battery changes, comforter changes, parking passes), etc.  A good property manager is worth their weight in gold, but we also have about half of our clients self-managing for bigger tax advantages like cost segregation and those who enjoy the process.  There are also some co-host models here where someone might handle part of the process for you at a reduced fee.  You just have to find the best fit for you.  

I can help you explore the Gulf Shores/Orange Beach AL market. We started investing in STRs here in 2009. Property management fees here average about 20%. Condos offer a good option for first timers at a lower entry point price and maintenance concerns, but can be more challenging in financing and understanding any potential assessments with insurance being on the rise right now. Single family STR owners are facing similar challenges on insurance with higher renewal rates, so it is important to be prepared for that possibility. If you can get into a new construction single family home, that can be a great option to mitigate the insurance expense.

We haven't invested in that area, but with the new Novelis $2.5B plant and 1000 jobs going into Bay Minette & Foley population pushing outwards, I think there is definitely opportunity in that area!

We started investing in this market in 2009 & happy to share our experience with you if you want to pm me! We have helped a lot of BP members buy in this area and many have utilized a HELOC for their down payment. Most of our condos are warrantable!

We have been in this market since 2009 & are still seeing consistent buyer demand which is keeping prices pretty stable.  Inventory is still low because most sellers don't leave the market.  They want to move onto a better property & some are hesitant to leave their current interest rate.  While occupancy is down a little bit this year, the most recent report we saw shows that ADR is up.  With all of that being said, if you are in a position to self manage, those buyers are seeing the best cash flow opportunity.