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All Forum Posts by: Joey Morea

Joey Morea has started 8 posts and replied 146 times.

Post: Florida condo rentals?

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

@Amy A.

The hoa just takes care of the common areas and building maintenance . You chose your own property manager or self manage etc they are different. I had a property manager for a year but decided to do it myself. It’s not that hard if you have the right people in place. You will probably break even if you use a property manager most of them charge around 20%. Shores of Panama I have heard bad things about it and the hoa had lots of issues. I much prefer the newer west side of PCB around pier park. PCB has been making great strides In changing their reputation from a party place to a family place but shores of Panama still seems to have a bad reputation from what I hear. Can you post the link you are referring about?

Post: Florida condo rentals?

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

@Amy A.

They are called condotels. I own one in Panama City beach most of them there you can either manage yourself or use a PM that will charge around a 20% commission With a condotel they do not qualify for a standard mortgage so you need to look into that with mostly at least 20% or more down. I have been pretty happy with mine. I own at the sterling breeze. Panama City beach can vary depending what size property you are looking at and what area weather being the order east side or newer west side by pier park. Message me if you have any question I can help with.

Post: Orlando short term vacation rentals - advice

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

@Ken Latchers

So where are your favorite and well producing STR markets outside of the southeast and southwest?

Post: Orlando short term vacation rentals - advice

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

@Ken Latchers

I think this forum is for sharing information and not for people political thoughts and personal opinion on climate change etc. You don’t have to invest there but I am happy with my returns so far. I actually just got a 3800 booking for a week in March just moments ago, so wouldn’t say wannabe!

Post: Orlando short term vacation rentals - advice

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

@Tyler Erickson

Have listed with VRBO and Airbnb. Everything is done on those platforms once you set up all your templates and such it really is not that hard. It’s just like texting people I find if you are super helpful the guest are good to your property I also own a condo in Panama City beach. I think it’s key to have good boots on the ground there. I do have a good PM that i pay a flat monthly fee to and he makes sure my pool is clean, organize the cleaners, etc and if there is an issue with the guest or house he will take care of it.

Post: Orlando short term vacation rentals - advice

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

@Tyler Erickson

I purchased a 7 bedroom home in championsgate and have had good success so far. You need to look in resort community that is made gor and zoned STR, mostly in Osceola county. There is a lot of competition but it's all about marketing your property. Give @Keith Courtney a call he is the vacation rental expert Realtor down there and helped me tremendously when I was searching.

Post: Need recommendations for monitoring vacant home

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

@Nathan G.

The Vera secure can use a cellular connection as a backup. You can control zwave and ziggbee devices from it to monitor what you are trying to do.

@Chris Kreidel

I have two rentals in Florida. I enjoy the smart tech of it and this is what I found to be useful so far.

For the thermostats I find the ecobee the best vs nest or others as it has a few features that work great for a vacation rental that others do not. You can set the temp range and the guest cannot go outside that range. You can also adjust the temp variance range so instead of the unit kicking and off every time the temp raises 0.5 degrees you can set it to kick on at 1.5 degrees which give the hvac units a lot less wear and tear and saves a huge amount on electricity. Not sure how I feel about this feature but You can also adjust it say it 1 or 2 degree cooler or warmer then it really is. It has great reports and and when you lock it so guest can access your settings it does not look like it is in lockdown mode vs how the nest looks where you know you are in lockdown mode.

Locks. I like the remote lock with edgestate app. It’s 6 dollars a month but give you great info and you can set it up to integrate with Vrbo and Airbnb to send codes that expire to your guest. For locks them self the CG from remote lock is commercial grade I use that for my beach condo. If you need a dead bolt lock I recommend the York zwave yrd216 model those were the top rated for heavy vacation rental use that I could find and if you get a Vera hub it can work with the edgestate software.

For cleaners I have recently discovered the TurnoverBnB app I actually posted about it the other day. I have played around some with it and I really like it and it is free for the first property if you already have your own cleaner and 6 per month for any additional property. It integrates with Vrbo and Airbnb so your cleaners can go into their app and accept a cleaning and when finished they can hit finish and you get an alert. You can also set it up to pay automatically but they charge a processing fee of 3.9 to your credit card. So far so good. My cleaner seems to really like it and she said she will try out and if it works really good for her she is going to make all her owners set up an account so everything still be in one app for her with all of her cleaning schedules vs having multiple communications with multiple owner.

Channel managers. I have looked into them but they seem to be expense and not sure what more You would need to do other then having Airbnb and Vrbo app. I have recently started using beyond pricing which it sets your pricing automatically and is dynamic. It charges 1 % of booming amount but it seems to work pretty well and it does catch Radom data that you might not account for being in high demand.

Would love to know more about big bear and how the numbers look as I would like to get a place out west at some point and most of the ski hills the ROI do not seem that great since the cost of entry is so high but from this forum there seems to be allot of good things said about big bear.

Post: TurnoverBnB app anybody use?

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

Anybody use this app or have heard of it? Seems like it might make life a lot easier with automating the communication between turnovers with your cleaners.

Post: Damage waiver vs security deposit

Joey MoreaPosted
  • Lender
  • Tampa, FL
  • Posts 149
  • Votes 101

@Mike McCarthy

I think I should have clarified better this is for vacation rentals and the waiver would be the insurance a guest buys for like 50 bucks that protects up to 1500 in damages but they do not get it back if there are no damages. Vs a refundable security deposit of say 500.