All Forum Posts by: Kyle Momany

@Melissa Haworth is my go to in PCB! She owns and sells tons of STR's there.

@Ricardo Hidalgo hit the nail on the head!

I don't know of any building (structural?) issues. I've sold 4 in there this year, they just need to make sense for investors. At the $400k+ price point, they don't.

Price cuts stem from a few things: 
- Agents/PM's over promising on income
- Buyers not doing their own due dilligence
- Buyers thinking they can take a place that hasn't changed since 07 and bring in the same amount of income as a new build that had an interior designer come in and make it sweet.

That goes for The Palms, Destin, and any other major market. The Palms saw prices sky rocket when people found out they had the potential to make $50k - $70k and they were selling for $170k- $300k. Everyone saw the best case scenario of $70k and ran their numbers off of that. Now they can't sell. 

Best of luck!

There's deals to be had anywhere. There are also tons of different types. Hyperfocus on one and push forward with it! Are you looking for more flips/brrrr's? STR? LTR? There are tons of wholesalers in the area as well. Let me know if you have any questions or want me to push you any of the wholesalers info!

Side note: You've got an awesome friend!

I'll piggy back on what everyone else has said. I haven't had many issues like that on BNB. BUT, when I did I read through all of BNB's policies and included any of their wording when making a case for myself. 

For example, we had guests book under a parents name than we of course had issues with them so they faked some things to try and get a full refund. I was able to argue it because the parent who booked it wasn't there. I'd recommend just reading the policy thoroughly whether you've got an issue or not.

I'll also add, being a super host helps. If the first person you talk to doesn't decline their request, call back later.

Best of luck!

 Congrats on getting started!

As an agent and investor, I've actually seen the best returns just off the beach. The price point for beachfront is significantly more, but brings in slightly more income. In Destin/PCB most areas that allow short term rental are south of the Hwy (Hwy 98). If you're buying south of the highway, you're no more than a few minutes to the beach.

I'm not going to say that a MTR/LTR won't work in the area, but generally they don't.

Let me know if you have any other questions! 

 @Alex Ng Check out the east end of PCB. From the data I've seen it's the best "bang for your buck". Although, you're not going to find much under $100k that allows STR. Some wholesalers might have deals under 100k in PC. I'd start by reaching out to them.

MTR can be good. We do it seasonally. So summer we STR to maximize vacationers then in the off season we MTR. This has kept our property full the past few years.

Best of luck!

@Joel Oh Congrats on the soon to be closing!

Typically we shy away from playgrounds for the same reason @John Underwood mentioned.

Another thing you could do that is minimal liability is a putting green area. You can get most of the supplies from Lowes, without spending a ton.

Let me know what you end up going with!

Hey @Adam Rose,

I'm happy to answer any questions on the market here or offer some recommendations. I own a few units in PCB that I self manage as well. As an investor-agent in the area, it's a must.

Personally, I shy people away from beachfront. The income/ purchase price ratio is just to high from what I see. Being within walking or golf cart (if a single family home) distance is where we see the best returns.

Best of luck!

Love #1!

When we're looking at parks with low occupancy, or even full occupancy, we call nearby parks acting as guests and find out their costs, availability, and what they offer! Another good thing you can do is read the reviews for other parks!

@Keena Santos As an agent and investor in the PCB market, winter can be difficult to get additional income. I tell everyone that 80% of your income is made between March - August. The other 20% is dependent on how you approach the off season. 

I'm not sure on the size of your property but, for the past two years we have shut our calendars off at September first and marketed it as a " month to month" or " Mid-term rental ". I recommend doing this at the end of July - early August. For us, Zillow and Furnished Finder are the two platforms we've listed it on. Both times we had tenants who were interested that paid all cash for a 6 month stay ( till March 1 ) which got us through the whole off season and ready for the following summer. If you want to message me, I'm happy to share the listing we built, rental income, etc. 

Best of luck!