All Forum Posts by: Candace Pfab

@Ross Kerne What seems to work best is create your own Facebook page for your property like this one: Facebook.com/Tidewater605 & link it to the booking site with a book now option. Promote that link on Orange Beach - Gulf Shores Lovin’ Life, Baldwin County Homes/Rental/For Sale/Vacation Rental & Last Minute Vacation Deals - Orange Beach/Gulf Shores. This page had over 150 views last week!

@Angie Shires We have been very pleased with the ones we haves used which has been 10+ years, but if you are doing a condo, I usually recommend looking at one of the ones that dominates that building :)

I agree with Ross.  In Orange Beach & Gulf Shores, there are lots of good opportunities, but it can be risky trying to do it on your own with Airbnb, etc because it can be tough to make sure you can get the cleaning crews & maintenance folks when needed on a long distance basis.  I would use a professional manager to make sure all of that is covered and to have local eyes on the property & then promote yourself through facebook groups.  We have clients doing that very effectively.  Folks seem to enjoy being able to interact with the owner, but the owner benefits greatly from professional oversight.  Not so sure I would consider the Caribbean.  Too many laws & policies that may interfere with your ability to manage profitably.

@Keith C.

You are absolutely correct about being mindful of the potential for STR rental restrictions. Orange Beach & neighboring Gulf Shores AL has already been through that cycle where areas outside of the primary beach zone originally designed to accommodate primary residences are now restricted, but the major tourist areas closest to the beach are exempt, creating a balance for residents & the visitors which are so vital to our local economy! We find that most visitors prefer to drive so that they can bring all their gear, but we are only 30 minutes from Pensacola airport for those that want to fly!

@Ryan Wiles

Sent you a colleague request!  Always happy to help our fellow investors!

Hi Ross.  It's the trend in lending practices driving the down payment on beach condos which are the best choice for short-term rentals.  As I am sure you know, there is a laundry list of items that lenders look for including litigation, strength of the management, budgeting, etc.  The feedback from our lender partners is that in general, they are more comfortable taking the lower down payments on some of the projects in our area.  10% is the lowest I have seen in the condo market in this area & the condo project has to be in ideal shape in all of those areas, as well as the borrower.  20-25% is the norm and up to 30% on some of the riskier projects/applicants.  And we still have lots of options below jumbo in this area as well!  Yes, taxes are also a challenge on the FL side!  I hope that helps to clarify :)

Hi John.  We are realtors based in Orange Beach (and formerly from Atlanta) and think Orange Beach has the most potential of the three you mentioned.  Orange Beach has a really strong tourism draw for the beautiful beaches & area attractions without the hustle & bustle of a city like Pensacola.  As you mentioned, Mexico Beach is still rebuilding.  We have been investing in short-term rentals in our area for about 10 years & happy to share what we have learned!  One of the biggest advantages of the Alabama panhandle is that you can usually secure a smaller down payment option to reduce your initial cash flow.  Florida is typically 5-10% higher down payment than our area.  Feel free to reach out to me & I can walk you through some of the numbers!  Our coastal appreciation numbers for last year were around 15%.  While I agree with Avery about appreciation being speculative in nature, it can't hurt to invest in an area that is thriving so well as long as the cash flow makes senses as well!

Congratulations!  Foley is really booming!

Think of Orange Beach AL, if you haven't already considered!  Not super warm during the winter, but plenty of days in the 60's & 70's and overall great weather.  Units don't rent for much during the Winter months, so that is a great time to occupy yourself!  This area continues to grown in rental activity with so many great events happening year round!  

Hi Adrian!  We are based in Orange Beach & happy to help in any way that we can!  We have flipped property & invested in vacation rental property to hold in our portfolio.  I can set you up for an market watch if you provide me with the particulars of where you want to land later this year.  Reach out any time that is convenient for you!