All Forum Posts by: Gee Williams

Whether you are looking for your first or next short term rental, most of us can agree that finding the next great deal can take up a lot of our time. As time gets more valuable, it is important we are taking the appropriate actions to get the most out of our time. When it comes to researching a new STR market, the same holds true. Prior to wasting any energy on diving deeper into a market or running the numbers on a property, it is critical that we have a good understanding of the local ordinances/restrictions. Whether an HOA has a restriction on the number of STRs allowed in the neighborhood or local laws prohibit operating an STR in a specific zone, save yourself some time and get this information before getting excited about your 20% or greater return you may calculate on it.

Regulations can typically be found by looking through the city's Planning & Zoning page, and when in doubt contact the local licensing/permitting department and ask them if STRs are allowed at your specific property of interest! See below for the current STR regulations in place for Gulf Shores, AL as an example.

Gulf Shores, AL - STR Zoning Restrictions

Dwelling Units Licensed for Vacation Rental are allowed in...

- Single Family and Duplex Tourist Rental Overlay District

- BN, BG, BT, ICW-N, ICW-S Zoning Districts

- Multi-family uses that are designated for vacation rentals in Planned Unit Developments

Dwelling Units Licensed for Vacation Rental are prohibited in...

- AG, ATP, ED, IND, OS, R-1, R-2, R-3, R-4, and R-5 Zoning Districts

- Single family subdivisions in Planned Unit Developments

It is important to note that there are exceptions to certain properties that fall within the prohibited list. These exceptions can be identified in Section 6-18 of the Gulf Shores Zoning Ordinance Doc.

Another tool I have found useful in identifying properties to focus on is the Gulf Shores Interactive Zoning Map. Some features that can be utilized from this tool are filtering in the zoning map, searching for a property address, and filtering in the Single Family and Duplex Tourist Rental Overlay District.

What kind of STR regulations are unique to the markets y'all are looking at?

Hi, I moved to Charlotte last year and have been thinking of trying to house hack. Just looking in around, I don't really see many options for multi-family homes. I was thinking about house hacking in Charlotte with a Single Family Home. 

Has anyone done this? Any things I should be considering if trying this? My concern is that the renter options would be limited

But overall I think this would help me get "into the game". Even if it does not cash flow, if I can get it for equal or less to what I pay in rent, then it would be a win.

@Gee Williams I refused to do it because if the deal went bad then your relationship could be ruined. Have heard too many stories of families and friends being destroyed over money.

Welcome to the DO'ers Club @Gee Williams! Are you seeking only to flip properties, or do you also desire rentals? I am interested in expanding to your area, but currently all of my properties are in the Triangle and Triad areas of NC.

@Gee Williams, I also want to congratulate you on deciding to do something!! I'm a Psychologist and High Performance Coach. I understand how challenging it can be to take action when 1) youre a natural loner, and 2) you've already tried to reach out and haven't been getting responses!! I've even found in my local area, that investors sometimes just stay to themselves and it's hard to network.  So I commend you on your courage and determination!  I'm not sure what the Mastermind you are referring to is, but it sounds like it might have people in it that aren't highly motivated.  I'd investigate some other options where people have paid, which increases their buy in. 

Welcome to BiggerPockets!

Congrats to you for taking action!

I wish you all the best.

Hi Gee, welcome to BiggerPockets and belated happy birthday! This is surely the best place to start networking and learning.

Time is a very valuable thing, Over-analyzing things can lead to wasted time, missed opportunities, and lost productivity. Great job in overcoming it. By taking action, you can make progress towards your goals and use your time more effectively.

I always recommend the book “Rich dad, Poor dad” by Robert T. Kiyosaki to anyone starting out. Start listening to the BiggerPockets podcast starting at the very beginning and start growing your network, look on Facebook/BiggerPockets for different events, find a mentor doing what you want to do, and get to know the local lenders/brokers. All the best to your real estate journey!

Welcome aboard Gee!