All Forum Posts by: Rebecca Gaines

That may not be an issue if he is a part owner. He could just be paid out his percentage of profits as a part owner for doing his duties as described in their partnership agreement. He's asking for advice on how to best divide/structure the partnership if he's doing the daily work and they're putting in the money if I read that correctly. 

I agree, Pensacola can be "street by street" in some areas.

Some of the fancy/popular areas are downtown, Northhill, and Easthill. Other decent areas are Scenic Heights, Cordova, Northpointe, Marcus Point. Those are mostly on the east side of Pensacola.

Demand is high right now for housing in the area.

Also, I would definitely be interested in meeting up, if we can find a good time that works!

Yes, there are actually a few military bases in the area! I think I've kinda forgotten about them because the big one has been on lockdown from covid until recently. 

Hi Alex, I'm in Pensacola. We have beautiful downtown area with a lot of Airbnbs. There are a few hotels in the downtown area also. My favorite thing about Pensacola is all the amazing restaurants. If you are a foodie you should make some time to try a few, and I'm happy to recommend some!

As far as investment areas, there are many to explore. We have a university, a couple of hospitals, and a mall on the northeast side of town if you focus more on student housing/medical field/family housing. The downtown/Northhill/Easthill areas are definitely the popular places to live. We have quite a few "up and coming" neighborhoods especially on the outskirts of the downtown area.

At the moment, we are having more traffic issues than usual because the bridge that went from downtown to Gulf Breeze (and was the way people went to Pensacola Beach) was taken out by a barge in one of the recent hurricanes and it's not expected to be in use for at least 6 months. This has definitely affected a lot of people that used that bridge to get to and from work, now having to go the long way around. And I've been hearing a lot of people on the Gulf Breeze side are considering moving to Pensacola so they don't have to drive as far to get to work, so it could be a great opportunity. 

I can't remember the podcast number or guest's name, but there was a podcast episode with a woman that focused on Airbnb. She mentioned furnishing with second hand items. I think as long as it looks nice, is clean, and comfortable, your guests will never know how much you spent on it.

Hi @Bryan Hartzog, I'm in Pensacola also. I haven't personally found a specific general contractor that I like yet (I've only used one on one renovation project, and I wasn't particularly pleased), but I have found a few good companies for specific trades that I have been satisfied with. I still get multiple quotes for the bigger jobs. The hvac company I usually go with is Economy Heat and Air. I have used Aggressive Plumbing and Kimmons plumbing and both do a good job, but are probably on moderate to high end of price ranges (fortunately my dad is a plumber and sometimes I can talk him into doing small jobs for me so I try to only hire out big jobs). For roofs I have used Tadlock and Southeast, however, I've had a hard time getting roofers to schedule during hurricane season, even when we haven't had a hurricane hit us directly. If you need hardwood floors refinished, Elite Hardwood Flooring is great. When it comes to "handyman" work, it's very hit or miss around here, and like Alex said, when someone has a good one is hard to get them to tell you about them. I try to try someone new with a less significant job that I could probably do myself and just don't have time for to see how they do before I trust them with detailed jobs. I learned that lesson the hard way when I found out just how badly cabinet installation can get messed up, and have a chain reaction if not caught soon enough lol.

I'm a hairstylist for my normal job, I'd like to eventually get to where that's a little more like a hobby than a job as I replace that income with rental income. At the moment after hurricane Sally my days are consumed with cleaning up yards, but I do like to play Ultimate Frisbee when I can!

I've only done one major rehab, and the initial "project manager" (was not a licensed contractor and my husband and I ended up learning a lot of lessons the hard way during the rehab) wanted a 10% fee. Apparently my husband agreed to it, I wasn't involved in in the initial hire conversation. I had never heard of this before either, but I had also never done a rehab. Since then I have mentioned it to other people in the construction business in my area and it seems to be a common (but not universal) practice, and it seems that 10% is normal. I would say if it's a very reputable licensed contractor and the budget allows for it, then I'd consider it. Maybe try to negotiate it down some? It makes me think of the "discount" grocery stores where they charge cost plus 10%, so maybe it's their way of breaking down materials, sub contractor payroll, and their personal take so that they can make the basic bid seem lower to start.