All Forum Posts by: Jefferson Brown

Hey Gregory!  Im a huge fan of Proper Insurance.  They have a short term rental specific program that saved our bacon.  We had a guest try to sue us for rigging up their own second hammock and swinging on it while drunk.  Needless to say they hurt themselves and try to claim it was our fault.  Proper Insurance swooped in and took care of us.  Definitely worth the extra money.  They aren't the cheapest but they certainly give you piece of mind.

Hey Leon!  Yes that link is the answer to your question.  In terms of advantages and disadvantages I HIGHLY recommend listing it as three listings.  Why?  Bigger properties book out further in advance and for a premium.  So the full duplex will book out first for the most money.  Then, as check-in time gets closer your individual units will start filling in the gaps.  In essence, you get the best of both worlds.  Good luck!

Hi Brit!  Happy to help however I can.  I’m not sure if you’ve heard of Vrolio but they have a good team of realtors that know their stuff when it comes to vacation rentals.  I know they have someone in Destin if you want to reach out.  Message me if you have any other questions

Hey @Jordan M., as has been mentioned it totally depends on how much you put in but we have a ratio we use to determine if a property is a good investment and Id be happy to share that with you (its similar to the 2% rule but modified for STRs).  Feel free to message me directly.

Hey @Malik Brown!  I have to agree with @Alex S. on this one. The best way to start with little money is house hacking (renting part of your property). If you can save up enough for a small down payment and move into it this will give you a great start into what its like being a landlord. I would say being an STR owner is maybe a 2.0 step once you're comfortable with the basics. Owning an STR is more like running a hospitality business than it is passive. Good luck on your journey!

Completely agree on the need to stick out.  Especially as STRs become more and more popular you'll need something that keeps you ahead of the competition.

I'm not sure I understand your question but feel free to message me.

Hey @Pearce Trenary!  We buy in the Destin area and we look for properties on the larger side to stay competitive.  With that budget you're probably looking at something on the smaller end (1-3 bedrooms).  Destin is a great area but if you're competing with all of the smaller properties it might be harder to compete.  Hope that helps!

Hey Aaron!  We've used the realtors at Vrolio before and I have to say they are the most knowledgeable about STRs.  Especially in Florida.  Its very rare to find a realtor that knows the short term rental market and how to buy a profitable one.  Good luck!

I would agree with that.  We normally get a lot of visitors from the UK and CA but those are still shut off right now.

Hey @Anthony Annunziata!  I don't know where your vacation home is but we bought two STRs in Florida with All In Credit Union using a 0% down investment loan.  Its a 10 year balloon with a 30 year amortization.  Try reaching out to them to see if they are still doing that program.