All Forum Posts by: Matt Jones

I'll PM you some foundation repair companies and a structural engineer.

A foundation company will very frequently recommend a solution that utilizes their services so @Caleb Brown has a good point but an engineer might not be the most timely or cost effective option if you are on a tight timeline.  A foundation company in our area can generally come out within a week or less and they usually do not charge for the initial consultation.  A structural engineer will almost certainly charge for his/her time and they are often booked out a few weeks.  Personally, because of the typical inspection timelines, I tend to start with the foundation company and use that as my likely worst case scenario for running my numbers and negotiation and then get a second opinion from a structural engineer as time allows or if I move forward to closing.  

Hi Leah,

I am always interested in a good deal for myself or the buyers that I work with.  Can you send me the details?

Hey @Arsen Atanasovski,

I'm a full time agent and investor here in the Pensacola market. I have experience with flips, STR and LTR both personally and as an agent. Let me know if I can help!

Hi Shireen, Pensacola is a great market for STR and has several distinct areas that do well with STR like Pensacola Beach, Downtown and Perdido Key. What area are you thinking about?

I'm also buying in Pensacola. I buy primarily multifamily but I have investors looking for single family as well.

I agree that talking to an insurance broker is the way to go.  For the Pensacola area I really like Cynthia with Dax Gill Insurance in Gulf Breeze and Karen with Underwood Anderson in Pensacola.

Whether you are talking about the Short Term Shop or an individual agent like myself that owns STR and LTR properties, there are so many variations and so much inventory that we aren't really competitors with the people that we help buy & sell investment properties. What we do have is insight into the market, setting up an STR, seasonality, rates, cleaners and other vendors, best practices, zoning, potential changes to str rules and regulations and a host of other information to offer investors that we have because we are also host. Personally, when I look for property outside of the markets I serve as an agent I will only look with agents that have experience as investors and can help me get up to speed in that particular market. Vacancy is not much of a problem here so there is no reason to label everyone as competition and avoid them when you should be letting them help you.

@Xing Wei I see a few others have already jumped in but if you haven't found the right agent yet feel free to shoot me a message and we can see if we are a good fit for one another. I own STR properties and have helped quite a few investors buy & set up their short term rentals from Perdido Key to Navarre. This is a great market for STR so you are in the right place, good luck!

 The owner occupancy requirement, in my understanding, just says that you will occupy the property as your primary residence within 60 days of closing.  They don't care which part of the property that you occupy and there are no restrictions on doing renovations.  

My understanding is that renovations do not excuse the need to occupy the property within 60 days but I would recommend verifying that with a lender.  I've been in a similar situation before and I moved in to the most livable unit on day 59 while I finished fixing up the other units and then moved again when I had a unit completely ready.  

If you are using an FHA 203k loan you'll need to occupy the property after closing and the lender will want to see that you plan to do so and can in fact occupy the property. Since you are buying in a totally different area than where you live now I don't expect that they would give you much trouble about buying a multifamily or it being in FL but they will want to see that you either work remotely and have permission from your company to work from Pensacola or that you have a job lined up down here and paperwork to prove it. Often a good lender that regularly makes FHA 203k loans can help you with the 203k consultant and contractors. PM me if you need a recommendation for a lender.