All Forum Posts by: Lake Lutes

@Andrea Heffernan Hi Andrea! Quite the contrary - Destin is one of the best STR markets in the country! Appreciation has been killer over the past decade to top it all off. Cashflow is great here due to consistent high occupancy rates, gorgeous beaches, tourist activities that drive nightly rates up. This is the go to vacation spots for families across the south and midwest. I'm an agent and investor in the area and would love to chat more about it with you if you'd like. Have a great day!

Solid job Jossalyn!! Gotta love the quick, in-n-out projects.

Awesome job, @Ricardo Hidalgo! I am an agent/investor here locally and would love to connect. Good work!

@Alexander Schloe partnerships can be super beneficial if each parter brings something unique to the table that the other does not. More often than not, I've found multiple brains going after 1 problem set just leads to increased efficiency - of course there are examples where this isn't the case, however. I'm an agent/investor here on the Emerald Coast of FL and Fort Walton Beach specifically, would love to hear about your 7 unit deal! Have a killer week

Hey Rich! I live in Fort Walton Beach, and specialize in Okaloosa county - however, I do business from Pensacola to Panama City Beach - would love to help you out! 

Happy to help Yoko! I cover Short Term Rentals on the Emerald Coast from Pensacola to Panama City Beach.

Hi Maria! Congrats on having your rental completely paid off - awesome stuff.

My next step, in your shoes, would depend on how attached you are to your rental. Sometimes, the cash from even a fully paid off property can bring you more bang for your buck elsewhere. If you're attached to keeping your VA property, I would pull a line of credit as I the rate you would receive at the moment would not be very exciting. Yes - HELOCs and lines of credits are possible for non-owner occupied homes.

If you're not attached to your rental, that $315K could definitely generate more than $2K/mo. elsewhere - I am confident in saying that. Whether it is used entirely on one property, or $100K into 3 different properties, you could definitely generate more passive income, if that is your goal.

If you have any interest in some short term rentals down the road from you, I am in Destin and would love to help you out :) Stay safe out there!

The Emerald Coast of FL has been flooded with short term rental investors the past few years - and for good reason. Our CoC and gross rent numbers to purchase price as some of the best there are.

Awesome Brandy! let me know if you need any help running comps or finding a good ARV to shoot for your rehab!

Hey Monica! Congrats on taking the leap into real estate investing! Exciting stuff.

Short term vs long term investing have a number of key differences. Short term land-lording is more involved, and typically requires a little bit higher risk tolerance through dry months, higher insurance rates, etc. However - like everything - this doesn't apply in all scenarios. I am an investor friendly agent on Florida's Emerald coast from Pensacola to Destin to PCB, and 90% of the clients I deal with are after short term rentals. The cashflow is great out here.

For long term, there is usually a bit less involvement, but typically lower cashflow will follow in today's high rate, high appreciation market.

Let me know if you want to check out some short term rentals in Florida and I can run you through some numbers!