All Forum Posts by: Lake Lutes

Hey James! Im a local investor and agent here. Have helped a few folks find house hacks, but mainly looking at homes with ADUs/MIL suites as like you mentioned, the multifamily scene is pretty slim here, and they tend to be in areas that I wouldn't necessarily advise living in. There are exceptions of course, but SFH with an area to rent out might be your best bet.

Would love to connect and help you on your search man, this is my bread n butter!

 Hey Lisa! I'd be more than happy to help you find and run the most accurate numbers, they're going to differ greatly per property. As for winter months, the likelihood is high if your property is well maintained, renovated, and managed. I've gotten 3 November to February requests already and we're in May for my 2 bed 2 bath condo in Destin.

I've been doing more and more subject to and seller financed deals in this market to make the numbers make more sense, you just need to know how to find them!

Hope to chat soon!

@Nick Loukas Happy to help! I'm a realtor here in the panhandle, and local investor. I have short term and long term rentals, and help tons of investors with their short term goals. Happy to talk you through some areas and run numbers for you!

Super excited to have you out here soon, Sophie!! Safe travels and see ya soon.

Welcome @Candace Ganhann! I am an investor and agent in Fort Walton Beach - you're definitely in one of the best areas you can be for multiple investing strategy options and finding deals. Happy to link up and chat real estate and NW Florida anytime!

 Uncle Sam is giving you TAX FREE BAH to put towards a mortgage - in my opinion, there are very few scenarios when it would be better to put it in a landlords pocket instead of towards your own equity.

With that being said, Hawaii is its own beast. The entry price is steep, and the risk is higher. I would advise looking out of town if you want to keep your HOAs down and purchasing power up. Mililani, Ewa Beach, Aiea, or even Pearl City could give you some lower HOAs and purchasing power in your BAH range. Shoot me a message if you need some help, would love to connect! Spent 3 years investing and as an agent in Hawaii, and am still active on Oahu. Love where your head is at already!

For 30A, Destin, Panama City Beach, etc - your "on the water" price points are going to vary greatly. For 30A specifically, there are luxury rentals that do hundreds of thousands of dollars a year. Once you hit a certain price point, it is true that it is tough to have a true logical investment. Obviously, money down, rates, purchase price, etc are going to impact your CoCR and cash flow.

To directly answer your question - the $1.2M house is probably going to lose money at 20% with an 8% interest rate. A large amount of the luxury owners on 30A are going to have much more servicable/cheaper debt than that, and have a much smaller note being carried than $900K+ - so it would make sense for them.

Happy to run some numbers on specific examples if you need any help, Justing! Just let me know - this is my primary investment market.

@Justin Aldredundefined

Turning your primary property into an investment property is THE best way for someone to get started in real estate investing. The reason for this is it's much "easier" to purchase a property as a primary home over purchasing a property as an investment property - lower rates, easier lending standards, lower down payments, etc. So - I highly encourage this method!

With regards to what type of rental you'll turn your home into, that all depends on preferences for leaving your furniture, cashflow, desired level of involvement, etc. LTRs will be a bit less involved on your end, but potentially lower cashflow, while STRs or MTRs will be more involved, but generate better potential returns.

Good luck and have fun with it!

Happy to help @Xing Wei ! I cover the entire emerald coast of FL, looking at short term, mid term, and long term rentals. Congrats on taking a big step!

What's up @Jack Morey! Would love to help. Im an investor/agent out here focused operating along the gulf coast of Florida. I'll shoot you a PM and can answer any questions you have!