All Forum Posts by: January Johnson

I'm in the Emerald and Forgotten Coast market, and that is not the trend here.  

I sell STRs on the Emerald and Forgotten Coasts of FL and currently have a 4-plex house-hacking deal under contract for a buyer. The purchase price is $1.115M and they could not get an FHA loan here for that amount, so they are doing 5% down instead of 3.5% and had to get a non-occupying cosigner to make it work. Luckily the mom of one of the buyers has excellent income, low debt, and great credit and signed on. These are very reliable buyers and they are experienced in renting and self-managing other properties, so it is all going very smoothly.

Just thought I'd chime in from the agent perspective with a real-world example.  Good luck to you!  I wish I'd done this 30 years ago, myself!

 I have been a self-managing host for 10 years and ditched my HWs a long long time ago (still have one on my personal home).  Instead, I have a great appliance guy and a portable AC unit and have had great success between those two.  

Save your money on the listing and pay a flat-fee listing agent to put it in MLS (WITH PROFESSIONAL PHOTOS AND A GOOD AND ACCURATE DESCRIPTION) and then pay 3% to the agent who brings you a buyer.

If you own at Shores of Panama in Panama City Beach, I'd like to ask a few questions about HOA management and revenue in a typical season.

Also, please let me know how long you have owned, what floor and stack your unit is in, and what are some benefits and challenges of owning here.  

Do you also have a deeded parking spot?

Many thanks in advance for sharing your experience and knowledge!

The Short Term Shop offers tons of FREE training and resources, and we are in 20 STR-friendly markets across the US.

Nice!  I'm sure it's lovely.  Good luck to you!

I hired a public adjuster after Hurricane Michael and was able to get almost 3 X what my insurance company wanted to pay me. Worth every penny they got in compensation.  I'd do it again in a heartbeat.

MTRs are STRs in my market. Anything rented for less than 180 days is STR, whether it's for 1 night or 30 or 179.

Let your broker know what you're doing; get the right coverage. 

Look into Steadily for additional info/coverage.

Don't get State Farm.  They never cover roofs.  Trust.

I work for The Short Term Shop, and we are in 20 STR-friendly markets around the country. I recommend that you go to our website and look at our market-specific podcasts. There are 10 episodes covering everything you need to know for all of them. PM me if you have specific questions. I sell the Emerald and Forgotten Coast (FL Panhandle). Good luck to you!