All Forum Posts by: William Doyle

Question?  Do you have financing arranged?  I have a property listed for sale now that is a great cash flow generator, in the right location, and built to hurricane standards. It has a price tag near $2M. The reason I share this with you is that there has been a lot of interest in it - from both in-state and out-of-state buyers - but they are finding that the financing for these properties has disappeared.  I made inquiries to a couple of my go-to sources and one said they had no market interest in those loans and another said that it would only do those for established clients and the rate would not be soooo good.  A realtor is a great start but don't waste any time in getting financing together. The Fed is not bashful about it's November rate hike being between another .75 to even 1.25.  Also, the season has started.  Our properties are booked.  That makes it hard to walk a property and most owners like to sell off-season for obvious reasons.  Best...

@William Doyle

I would recommend staying away from condos, lots have restrictions and if they don't already, their HOA can spring up STR restrictions with little notice and it could crush your cash flow.

Look for agents that align with your interest. Interview a few and see what is a good fit for your STR aspirations. The agent you choose should be an investor themselves because they are going to have the rolodex of plumbers, cleaners, lawn care, etc. that are reputable and low cost. If you are not self managing, make sure to see if they can provide you with plenty of referrals of STR hosts that are cost effective and have superhost status.

You’ve chosen some great areas! Good luck. Please reach out if I can answer any additional questions.

We have some off market lots in STR areas and some off market options if you'd like me to send them to you.

@William Doyle I work as a Realtor up in the FL Panhandle, but also self-manage two Airbnbs in that market. I know a very solid agent down in the Tampa area that can help you find what you need. He sells a lot of real estate in FL and understands Airbnbs as he owns some himself. He was my agent on my properties and helped steer me in the right direction when I was first getting started. Let me know if you'd like me to connect you!

If you are renting for less than 30 days at a time then you would need to get the permit for STR in Florida. Since we rent for more than 30 days at a time in our primary residence, we do not need the permit at a statewide level. With that being said, different counties and cities may have their own specific rules that you want to make sure you research. Hope that helps!

 Yes, it's just you.  This is a great way to house hack and make extra income.  One of my first house hacks was to rent extra rooms in my house on Air Bnb.  It was a great experience and never had any issues.

I know someone that was very successfully doing that in St Pete, so it's definitely possible!  St Pete has an explicit carve-out for owner-occupants, though.  Maybe check with the city to make sure.  I would argue that it should be acceptable, but you never know what they'll say.  The first offset is usually a warning, though.

My wife and I Airbnb a room in our house. We have a 2/2 so the tenant gets their own bed room and bathroom. We do 28+ night stays and we typically get traveling nurses, professors, other traveling professionals. This is a great way of house hacking and I prefer to do the medium length stays because it attracts professionals that just need a place to crash while they are here for work. Not for everyone but if you're open to it, it could be great!