All Forum Posts by: Lake Lutes

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!

@Trina P.

There's a few ways you could go about it!

1) If you're looking to sell it off-market, this will be the fastest, easiest process. No official photos, showings, or bothering your tenants with having to arrange showings and open houses and such. In addition, you'll save some money off of realtor commissions.

2) Posting on the MLS has the best potential to Bring you the highest purchase price, and sometimes, the increase in price you'll get for your property off of the MLS is enough to offset the realtor commissions you would've saved by selling off market.

Either way - I know a good realtor in Huntsville if you want a reference, shoot me a message! Also - I am always interested in buying good, cash flowing properties. If you want to talk about an off market deal, also let me know!

Have a killer week!

Hi @Abigail Cariaga! This are is one of the best in the country for short term rentals. Cashflow is great, occupancy is high, and even appreciation has been awesome over the past 10+ years. My team specializes in helping investors find STRs. Would love to help you out if you want to connect!

If you're considering STR on your personal home, that means you probably have a home in a great spot - that's half the battle. You could even try it out, and move back in/purchase a new one if it doesn't work out as you'd hoped. Sounds like 2 great options! Let me know if you need any help analyzing properties in the panhandle!

Hey John! Destin is my local market, and I have a lot of great connections to local maintenance handymen, cleaners, etc. Happy to help you out! Shoot me a message