All Forum Posts by: Daniel Walker

I’m your man.  

That’s what you have to ask yourself in this market...are you buying strictly for investment,  or do you want a beach house on 30A and make enough to break even and profit off write offs and hopeful equity.  With financing, you should be able to cover your costs on gulf front, but you can’t use it many holiday weekends or summer months.   Cash purchase you’re topping out at that 6-7% roi.   But not bad when you insider your going to   get a beach house that you can use out of it.  

Not gulf front, but gulf view or close proximity you can.  There’s a look that rents and certain features of the home or community that need to be in place.  Do Vrbo and Airbnb. I can go into details when we have more time to chat privately 

@Eric Merkle

Contact me about this please sir

All of the areas you mentioned are good rental areas except Alys Beach. In Alys, if you rent, you HAVE to rent through Alys Beach management and they charge 50%. One of the best ROI's is Seacrest Beach between Rosemary and Alys

I work a lot of rosemary beach.  I am not familiar with Hilton head but have heard the roi is low in Hilton head because they have restrictions.  There are places near rosemary that have higher roi.   Last month we sold a 2.3 in rosemary with rental projections of 150k gross

The average management fee is 25% in my area, the panhandle of Florida.   Some smaller companies charge less and the more income the property will bring, the more they'll reduce that fee.    I am sure different areas have different problems.  

On 30A, to capilize on VR income, here is what I see that create the most income:

1.  Light and bright (quartz and stainless steel, woodwork like shiplap or nickelgap on walls, the highest end has wood work on the ceilings as well)

2.  Pool (even a dip pool will work)

3. Bedroom downstairs (master if enough space)

4. Outdoor entertaining area

5.  Find a space for bunks (as many people that can sleep the better)

6.  For resell a garage helps and if you go more than 2 stories an elevator helps.  

For you flips, it might take some time before before you can flip it because in some areas it still looks like a war zone.  BUT there are tons of misplaced individuals and renting long term could be done in days for a premium. 

Does anyone have any experience with manufactured home parks? I have a friend who owns a dealership and he’s wanting to partner with me. 50/50 partners, he provides the homes for free, I secure the lots and infrastructure and manage it. What should I look for to get started? Ex: paved roads, utility connections etc? Thanks

There are two ways to make payment. One to the state of Florida that pays the state tax and the sales and use tax for okaloosa county. Then okaloosa county has a site for to remit the remaining taxes. It’s easy. You enter the collected rent and they’ll do the calculating for you