All Forum Posts by: Shirley Dimitro

Hi Alton, we closed on our cabin two weeks ago. Husband and I have been working very hard trying to get it ready for rental. Shooting for possibly January. Haven't interviewed any management companies yet. Planning on doing that in the next couple of weeks. Let me know if you find anyone as well. Thanks!

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Quote from @Keena Santos:

Calling Owners in PCB

First time investors in Panama City beach area and experiencing slow month in august and it isn’t even the colder months yet, how do you guys manage during winter months?

Our PM has postings up for long term discounted rentals for colder months but nothing yet. Starting to get worried if this will be the case until spring. Any experiences to share?

Hi Keena, I own a property on the beach in Deerfield, FL. We are well booked from December 1st through March 31st. Just like you, though, August & September were dead. October and November have one week booking each so far, and that's it. And just like you, I'm really irritated by that, lol. But honestly, I think that is the market in FL. The snowbirds don't come down in the summer and locals don't have a need for rentals. Also, keep in mind that everyone (and I mean everyone!) went to Europe this year! So hold tight, things will turn around soon!

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Panama City, Florida

Quote from @Neil Doldo:

Quote from @Shirley Dimitro:

Hello, I'm seeing a lot of cabins for sale in Blue Ridge, GA that were only bought a couple of years ago (2020-2022). Were these just Covid "impulse" buys or is the STR market so slow now that owners are compelled to get rid of their investment? Anyone with STRs in Blue Ridge can give me some insight? Thank you!

Hi Shirley,
I think there is still a lot of potential in BR, but you absolutely need the right property. Too many people bought boring cabins at higher prices and are needing to unload them now. The market is trending towards modern and chic, not bear comforters and grandma’s antiques😂. My wife and I own three and co-host others that are doing extremely well. You just need amenities that stand out and the views and/or water are just about a must have. I’d be glad to connect anytime to provide more insight.

Best,
Neil

Hi Neil, thanks a lot for the insight. Question: What do you do as a co-host vs a property manager? What are the advantages & disadvantages, and what is the cost difference? Thank you much!

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Quote from @Tim Miller:

Welcome to the world of Credit Cards! First thing first, these platforms will never fight these charge-backs, disputes, whatever you want to call them.

You have to understand how credit card companies work and the whole dispute process. Visa has over 900 pages on how they deal with disputes. AmEx has just over 400 pages.

This one is really going to get you, anyone can dispute a credit card charge up to A YEAR after the charge was processed. Except for AmEx, they will only allow up to 6 months.

This is the risk you take when taking credit cards and working with these platforms. This and other reason are why we never allow our tenants to pay their rent with a credit card.

https://usa.visa.com/support/consumer/visa-rules.html

https://www.chargebackgurus.com/blog/visa-chargebacks

How do they pay their rent then, if no credit card?

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Quote from @Chris Seveney:

Quote from @Shirley Dimitro:

Need advice: I am in the process of buying a cabin in Blue Ridge, GA for STR purposes. The inspection came back today saying that "the home is adequately constructed," however noted the following concerns:

1. "There have been some separation of the retaining wall at two of the joints causing some displacement of about an inch." Recommends consultation with a retaining wall contractor.

2. Roof is original (17 years old) and shows "significant granule deterioration in some areas," stating it is "likely in the last quarter of life."

3. Water heater is also 17 years old and "nearing end of expected life. Need to budget for replacement."

So my question is: Is this home going to be bleeding money in the long run instead of serving as a profitable STR? Should I be walking away while I still can? Thank you!

1. I assume the retaining wall is outside and not main house. Depending on location and need, you may not need to do anything here.

2. Roof is 17 years old, yes a roof lasts 20-30 years so its in its last leg, just know that you will need to replace it soon. This is normal

3. This is also normal. Water heaters typically last around 1/2 that lifespan so expect to replace it.

None of these would be shocking or concerning to me on an inspection report, the equipment is old and will need to be replaced, this is standard.

Hi Chris, thanks for the reply. I agree that these seem to be "normal" issues, considering the age of the home. My biggest worry, however, is the roof. I'm not sure I want to buy an investment property where I will have to spend another $20,000 (approx.) in about 3 years. Being that STR revenues are on a decline & the market is a bit saturated, it's a scary prospect. As an investor, would you still recommend proceeding with the purchase?

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1. "There have been some separation of the retaining wall at two of the joints causing some displacement of about an inch." Recommends consultation with a retaining wall contractor.

2. Roof is original (17 years old) and shows "significant granule deterioration in some areas," stating it is "likely in the last quarter of life."

3. Water heater is also 17 years old and "nearing end of expected life. Need to budget for replacement."

So my question is: Is this home going to be bleeding money in the long run instead of serving as a profitable STR? Should I be walking away while I still can? Thank you!

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Hello, I am looking for a reputable management company in Blue Ridge, GA, that you have worked with personally and can refer with confidence. Suggestions appreciated! Thank you!

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Quote from @Dustin Taylor:

That is awesome you have property there in FL. I hope the returns are looking great! I guess let me be more specific on WOW factors. Amenities do get costly and you can only have so many of them before it becomes a headache to keep up with. The biggest wow would be view/location. That's real estate in general. Location, Location, Location! If your buying in the mountains have a mountain or water front view. If you're at the beach, look for beach front. I know there is a big difference in price associated with these properties, but you know they will rent more often. Everyone can have the same amenities in the competing area, but not everyone can have the same views.

Dustin, that makes a lot of sense. And thanks for the clarification. Location will definitely be my prime focus. :)

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All Forum Posts by: Shirley Dimitro

Shirley Dimitro has started 5 posts and replied 32 times.

Post: Management Company in BLue Ridge, GA

Post: Management Company in BLue Ridge, GA

Post: Management Company in BLue Ridge, GA

Post: Owners in PCB - how are you surviving upcoming slow months

Post: Blue Ridge, GA

Post: VRBO Withdrawals Money in response to Guest Credit Card Dispute

Post: Buying STR in North Georgia - Inspection scaring me.

Post: Buying STR in North Georgia - Inspection scaring me.

Post: Management Company in BLue Ridge, GA

Post: Blue Ridge, GA