All Forum Posts by: Katie House

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The best time to buy is after a hurricane but be prepared for assessments if you're buying a condo (or have a reno budget set aside for SFH.) Insurance
assessments right now are pretty much happening in every association throughout GS and OB. 

Buyer beware. It really isn’t a cash flow but an appreciation game here. Do your homework, look at the associations balance sheet and read the last few board meeting minutes. 

I did not buy a turn key for either. We had to do a lot of small cosmetic things (replacing the flooring, changing the electrical outlets from old yellow ones, light fixtures, popcorn ceilings) and it is still a work in progress. I'm hoping to do the kitchen and bathroom updates this winter. With the cosmetic updates I have already increased the value so that's mainly what I look for.
I would also suggest getting insurance quotes as soon as you can after the offer is accepted. I've heard that the insurance is less expensive the closer to the interstate you are. However I'm not in the Daphne market so it may be similar to what you already budget out in your numbers.

If you have any other questions feel free to PM me.

I have a STR (and LTR) in Gulf Shores but I bought it right. That's the key. I would buy around December as the RE market does dip a little during winter months. It has been hard to find good cleaning people this season. As mentioned above this can make or break you. I would think that you or your wife aren't planning to drive from Daphne each week as you need to think about the cost of your time. Playing with the Airbnb platform we have increase the minimum stays from 4 days to 6 due to the turnover challenges. If you're thinking about a condo it is important to factor in COA dues and the utilities, obvs.

Here's the MLS for our county, https://www.baldwinrealtors.com/index.php?submenu=Search&src=gendocs&ref=search_mls&link=search_mls

Feel free to start running the numbers. I will tell you that probably 35% of guest book last minute with less than 1 weeks notice on Airbnb during the summer. Also keep in mind not all condos allow rentals (The Sands being one of them.)

Wow, I’m really not sure how (or why) my opinion is rubbing people the wrong way. I though this was a platform for learning and leaning on one another and for self growth. 
Matthew, I’m here to answer any question you may have about the area or my experiences with both short-term and long-term rentals. 

Matthew I also suggest you follow the group "Pensacola Airbnb Host Club" if you plan to self manage as it is the closest one to the area. Other companies who manage in the area are Meyer, Kasier and Gulf Shores Vacation Rentals, if you need quotes (18-23%.)  Here's the licensing information for GS (https://www.gulfshoresal.gov/780/Rental-License)