All Forum Posts by: Benjamin L.

Thank you Greg. I gave incomplete information above:  this is for a "broker license for a business entity." 

Someone seeking a "broker license for an individual" is not required to get E&O insurance.

Hope I can get some advice here...setting up a RE brokerage in Texas and needing to get E&O insurance that covers $1 million per incident, in accordance with the Texas Real Estate Commission guidelines.

I received my first quote today, and the annual premium was about $4500.  That seemed high.

Brokerage will have one licensed agent, who will purchase between 200 - 250 properties in 2021 and probably sell zero.

Is this quote in line?  Any suggestions would be greatly appreciated.  

Self showing has been the standard for institutional single family rental housing providers for years.  Rently has a great and safe product.  As far as leaving the door unlocked, you get a text message when you open the lockbox that says you need to confirm that you locked the door and put the key back in the box, or Rently has the right to nick your cc for $150 for not returning the key.  

Using agents to show rental properties simply does not work anymore.  

Weren’t evictions for nonpayment of rent suspended until 12/31? Just getting a head start? 

 Yikes. That could be bad for property values.  Will steer clear of that. 

@Matt "Roar" Gardner thanks for the feedback regarding your personal experience.  Coincidentally, I am looking at 4 and 5 bedroom places.  If you had to do it again, would you buy your 5 br in Crystal Beach, or would you be looking at some other places?

Thank you @Avery Carl. A RE agent that I spoke with yesterday mentioned the litigious tendencies of the HOA on Destin Pointe, but thought most of that was in the rear view mirror. Right after the call I googled it to see what I could find out, and saw something stupid about a port-a-pot, but nothing else.

Do you happen to remember what kind of actions the HOA is taking against homeowners and others, and if these people have gotten past such petty things?

@Luke Carl thank you for the tip.  I was looking at some places at Crystal Beach and will take a closer look at that area.  Seems like you get a little more house for your money there. Only interested in a single family home. Dumb question though: is there actually a neighborhood called 30A, or are you just referring to places within a couple blocks of 30A.  

I am from out of town, but used to live in the area. We are selling a property and would like to purchase a single family STR as the replacement property in a 1031 exchange.

Does anyone have a view - one way or another - on Destin Pointe?  I like the area, but feel it is a little geographically separated, being the western-most area of town and that it's a gated community.  Granted, the beach is walkable (probably the most important walkable feature)., but it doesn't seem easy to get anywhere else in town by foot.  

Would appreciate any opinions on the pros/cons of Destin Pointe, and what other areas of Destin would you consider for a single family STR purchase.

It is lower end properties that are seeing late payments. The other issue is that people are taking longer to pay  rent, so by June 6 it may be 20 percent late, but by the end of the month, most people are caught up.