All Forum Posts by: Krystal Thomas

Hi Riley, 

I think that's definitely the way to go.  I am a broker associate in Key West and have lived here for 15 years.  Long term housing is in high demand here in the Florida Keys, particularly in Key West.  I agree with @Nathan Gesner and think that a duplex, (or triplex, or quad if you can find 'em!) would be a great way to dip your toe into the Florida Keys housing market.

Sample Figures on a Duplex currently listed for sale in Key West:

• Sale Price: $695,000
• Taxes: $5895
• Flood/ Wind/ Homeowners Insurance: $6548
• Sample Mortgage Payment: $4150
• Unit A Rented @ $2500
• Your Mortgage Responsibility: $1650
• Housing Allowance: $2350
• Potential Cash Flow: $700 per month

*Note, these figures are based on a primary residence @ 3.5% and are an estimate only.

@Steve Legnaioli I'm not sure it's fair to say that CPA's in Key West are barely capable.  I know quite a few that are knowledgable and great to work with.  Let me know if you need a recommendation. 

Hi Kenneth,  

My name is Krystal Thomas and I am a real estate broker with Preferred Properties in Key West.  I have not worked with non-profit however you may be able to go the government sponsored route with the City of Key West.  Do you have time to chat?  It would be easier to discuss over the phone, shoot me a message with the best number to reach you and I'll give you a shout this afternoon.  Talk to you soon!

Hi @James Karch!  My name is Krystal Thomas an I am a real estate broker with Preferred Properties in Key West that specializes in vacation rentals (both long term and short term).  There absolutely is a market for 28 day rentals and I'd be happy to be your real estate resource and guide you through the process.  Shoot me a private message and we can connect to talk about your vision and how to get there. 

Hi Austin!  Congratulations on taking the leap into real estate!  I'm a licensed real estate broker in Key West and work with Preferred Properties.  I'd be happy to chat with you about our company and the benefits of working with a boutique firm; if you're interested shoot me a private message and we can set it up!  

@Michael Baum & @Gareth Fisher - if you are interested in Key West & The Florida Keys I'm a real estate agent and specialize in short term rentals. I'd be happy to be a real estate resource if needed as the STR rules can be difficult to navigate.

Hi @Melvin List, she has not looked at conventional. She looked at FHA with 3.5% down and she didn't qualify without a co-signer because her tax returns only showed her making $20K after her deductions and expenses. She grosses $6K per month.

I am a real estate broker in Key West, Florida working with a single mom and first time homebuyer.  She is self employed and we are looking for a low downpayment option for her to get into a home with a purchase price of $350K.  Any lenders out there that think they have a product that will fit the bill?  She grosses about $6K per month and has good credit. Looking for any help or suggestions, she's worked really hard to get to this point and I want to see her get to the finish line. 

Hi Daniel, great story of a successful house hack!  I'm a real estate agent in Key West and currently have a very similar home to yours on the market if you or anyone you know are looking for a similar opportunity.  3/2 in the main house and a 1/1 in the back.  The long term rental market here in the Keys is very tough and the inventory is limited.  There is literally a 0% vacancy rate here, once you find a good place you never want to leave!  

@Dave Foster- Me too!  I first came to Key West when I was 7 years old and knew I would call it my home.  I'm a real estate agent/ investor living and working in Key West, lots of opportunity!