All Forum Posts by: Kevin Pillow

I’ll send you a DM with some numbers that we use but PCB is doing great ADRs with double digit growth in some areas closer to the water. The biggest thing about the area is you can get a single family home with 3+ Beds for under $600k. If you want that in Destin it’s going to be in the $800k+ range.

 This is the best summary for understanding the different investment strategies depending on the area. I'm going to just make it a canned response whenever someone ask's me about the area. I'll add that local government regulation towards STRs in the areas south of 98 is friendly and stabilized compared to other metro markets facing challenges. 

 Thanks @Matt "Roar" Gardner, a lot of great agents out here but if she is looking for a great market with strong growth in average daily rates and a single family homes near the water PCB is the place to be. I would love to jump on zoom and go over the returns we are seeing

 Do you think this is for all STRs or mainly the STRs in Non-Vacation rental markets?

I can speak for our area down here in Destin Florida and The Palms of Destin is one of those condotels that are great. They allow for self management and have so many amenities. It's a great STR property that I recommend to many of the first time investors because of how simple it is to manage.

I think it also depends on what you're looking for that agent to provide. These are the items most of the first time STR buyers need help with:
1. Analyzing local deals for cash flow
2. Knowing the regulations in the area
3. Making connections with vendors, cleaners and repair folks
4. Leveraging resources like lenders, title companies and insurance contacts that have experience working investor clients.

The more experienced investors I have worked with already have most systems in place and use me more for transaction management. I also enjoy the negotiations to extract as much value for the client as possible. You wouldn't believe the number of agents that fail to think creatively to problem solve transactions, then let the deal blowup. 

Overall I would say an agent that can feel out what the client needs mosts and provides it to the client. Then also being able to negotiate deals beyond the standard trend of no seller concessions like we have seen in the past couple years.
 

Goodwill or your local Salvation Army are a good starting point. 

@Caleb Drake might be able to give you some recommendations. He’s pretty active with flips in the area.

A great book to check out is by a BP Author, called Finding and Funding Great Deals by Anson Young. It really gets into the process of selecting emerging markets even though it's geared towards wholesaling. Wholesalers are typically the ones finding deals to sell to fix/flip or buy and hold investors.