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All Forum Posts by: Ricardo Hidalgo

Ricardo Hidalgo has started 13 posts and replied 532 times.

Quote from @Kelly Cynamon:
Quote from @Ricardo Hidalgo:
Quote from @Kelly Cynamon:

Hello- I am based in Southern CA and there are limited options for getting a good deal here. Curuous where everyone is investing? cities/neighborhoods? and STR and LTR and why? I have one investment property that was originally purchased to live in but turned into a rental so I am not the best at evaluating properties yet. Would love the input. Thank you!


 These are the top beaches on the emerald coast that offer a variety of options and lifestyle depending on what you are looking for: 

  1. Destin Beach: This is one of the most popular beaches on the Emerald Coast and is perfect for both spring break and summer vacations. The clear turquoise water and sugar-white sand make it a beautiful spot to relax and soak up the sun.
  2. Santa Rosa Beach: This beach is known for its crystal-clear waters and powdery white sand. It's a quieter option than some of the other beaches in the area, making it perfect for families or anyone looking for a more peaceful getaway.
  3. Grayton Beach: This beach is a popular spot for both locals and tourists, with its stunning scenery and laid-back vibe. It's a great place to enjoy water sports, such as kayaking and paddleboarding.
  4. Miramar Beach: This beach is located just east of Destin and is known for its wide expanse of sand and clear blue water. It's a great spot for swimming and sunbathing, and there are plenty of shops and restaurants nearby.
  5. Navarre Beach: This beach is located on the Gulf Islands National Seashore and offers pristine white sand and clear turquoise water. It's a quieter option than some of the other beaches in the area, but still offers plenty of opportunities for outdoor activities and relaxation.
  6. Panama City Beach: This 27-mile stretch of white sand beaches is a popular spot for both spring breakers and families. The clear turquoise waters are perfect for swimming, and there are plenty of activities available, such as parasailing and jet skiing.
  7. Carillon Beach: This quiet beach is located just west of Panama City Beach and offers a more peaceful option for visitors. The clear waters and soft sand make it a great spot for swimming and sunbathing

Hi Ricardo- love that area. Kind of saturated with STR at this time correct?


 It depends on the location and the product you have. We are crushing it on our builds and flip selling off to investors that are achieving 10-15% of gross purchase price. 

Quote from @Kelly Cynamon:

Hello- I am based in Southern CA and there are limited options for getting a good deal here. Curuous where everyone is investing? cities/neighborhoods? and STR and LTR and why? I have one investment property that was originally purchased to live in but turned into a rental so I am not the best at evaluating properties yet. Would love the input. Thank you!


 These are the top beaches on the emerald coast that offer a variety of options and lifestyle depending on what you are looking for: 

  1. Destin Beach: This is one of the most popular beaches on the Emerald Coast and is perfect for both spring break and summer vacations. The clear turquoise water and sugar-white sand make it a beautiful spot to relax and soak up the sun.
  2. Santa Rosa Beach: This beach is known for its crystal-clear waters and powdery white sand. It's a quieter option than some of the other beaches in the area, making it perfect for families or anyone looking for a more peaceful getaway.
  3. Grayton Beach: This beach is a popular spot for both locals and tourists, with its stunning scenery and laid-back vibe. It's a great place to enjoy water sports, such as kayaking and paddleboarding.
  4. Miramar Beach: This beach is located just east of Destin and is known for its wide expanse of sand and clear blue water. It's a great spot for swimming and sunbathing, and there are plenty of shops and restaurants nearby.
  5. Navarre Beach: This beach is located on the Gulf Islands National Seashore and offers pristine white sand and clear turquoise water. It's a quieter option than some of the other beaches in the area, but still offers plenty of opportunities for outdoor activities and relaxation.
  6. Panama City Beach: This 27-mile stretch of white sand beaches is a popular spot for both spring breakers and families. The clear turquoise waters are perfect for swimming, and there are plenty of activities available, such as parasailing and jet skiing.
  7. Carillon Beach: This quiet beach is located just west of Panama City Beach and offers a more peaceful option for visitors. The clear waters and soft sand make it a great spot for swimming and sunbathing
Quote from @Lauren Huskey:

I would really like to get into short term rentals. I have two rentals that I have held since 2016 with same tenants in it and it has worked out pretty well. I would like to buy a beach or mountain house that I can also use for my family to vacation but everything just seems so overpriced. I have about $55,000 that I could access using HELOC and cash, but I am worried to try to buy anything with this market and in case short term rentals will take a hit in the next year or two because of the economy, then I would be stuck with a payment I cannot afford. I really want to continue to build my portfolio though...any suggestions? I am also open to alternative investments, not necessarily STR.

 There are options on the beachside of Panama City beach under 350k! Here is a short summary of the market overview: 

Location: Panama City Beach is located on the Gulf of Mexico, offering beautiful beaches and crystal clear water.

2 Investment potential: Property in Panama City Beach can be a good investment, as the area is popular for vacation rentals, commercial development, sports complex, new home developments with great cash flowing opportunities.

3 Amenities: Panama City Beach offers a variety of amenities, including shopping, dining, and entertainment options.

4 Entertainment: Panama City Beach is known for its nightlife, with a variety of bars, clubs, and live music venues.

5 Outdoor activities: Panama City Beach offers a variety of outdoor activities, including swimming, fishing, boating, waterfront restaraunts and water sports.

6 Family-friendly: Panama City Beach offers a variety of family-friendly activities and attractions, such as amusement parks, zoos, and aquariums.

8 Accessible: Panama City Beach is easily accessible by car or air travel, with the Northwest Florida Beaches International Airport located nearby.

9 Proximity to other Cities: Panama City Beach is close to other popular destinations such as Destin and 30A, making it easy to explore the surrounding areas.

10 Affordable: Panama City Beach offer a more affordable option compared to other coastal towns in Florida, making it accessible for first time buyers or retirees.

Quote from @Sandra B.:

My husband and I are really interested in getting into real estate, every year that passes without us acquiring a property feels like we're falling behind. We're financially very stable, we bring in 400-600k annually on average and also have about $200k in cash. Eventually we would like real estate to be our primary income but as of now we don't even know where to start. We've read books, searched through forums, watched videos, but every property I've found the numbers end up in the negative. I'm not looking for crazy cash flow but definitely not negative. We would love some hands on mentorship or really just advice from this forum. Thank you!


 Hi Sandra, you guys could start house hacking, buying long term rentals or short term rentals. It seems you have a lot of options but each business model is different with its own risk. If you are more conservative perhaps start with a long term rental that is turn key or minor cosmetic updates. Once you have it stabilize you can move onto the next and start diversifying into different parts of real estate. 

  1. Here are some luxury markets that offer great appreciation. Many people from Atlanta visit and invest in 30A due to its flexibility of rentals, affluence, beautiful scenery and constant demand. 
  2. Destin Beach: This is one of the most popular beaches on the Emerald Coast and is perfect for both spring break and summer vacations. The clear turquoise water and sugar-white sand make it a beautiful spot to relax and soak up the sun.
  3. Santa Rosa Beach: This beach is known for its crystal-clear waters and powdery white sand. It's a quieter option than some of the other beaches in the area, making it perfect for families or anyone looking for a more peaceful getaway.
  4. Grayton Beach: This beach is a popular spot for both locals and tourists, with its stunning scenery and laid-back vibe. It's a great place to enjoy water sports, such as kayaking and paddleboarding.
  5. Miramar Beach: This beach is located just east of Destin and is known for its wide expanse of sand and clear blue water. It's a great spot for swimming and sunbathing, and there are plenty of shops and restaurants nearby.
  6. .

Post: First STR with $100k or less?

Ricardo HidalgoPosted
  • Real Estate Agent
  • Posts 552
  • Votes 254

Our market is more limited in inventory and completely different than Orlando. Values hold better and rents stay strong due to high demand in a small area. As long as numbers make sense, enough overhead to cover for a year and location is great... I see limited risk in real estate in comparison to the other asset classes. I have 100% confidence in my market and the infrastructure being built out will fundamentally support exponential growth. 

Post: First STR with $100k or less?

Ricardo HidalgoPosted
  • Real Estate Agent
  • Posts 552
  • Votes 254
Quote from @Jayme B.:

I've been back and forth on the idea of using our savings to invest in a STR. I've read how it has changed people's lives, but have been super apprehensive seeing how saturated the STR market has become since 2020. I work for myself, have a small kid and one on the way. My wife and I are ready to do something different to replace my income. However, this is a situation where I need to be right the first time. I'd say being right means cash flowing at least 3k per month. Now how do I get to that point and what market to do that? I have no idea.

I thought about purchasing a property using owner finance option and using our savings to build a smaller home. The plan is to use the cash flow to pay the land off. 

It seemed like the only option. With interest rates being high, it seems ridiculously dumb to purchase an existing home in this market.

Am I missing something? Seems like another case of dollar short, day late.


Have you thought about buying something that needs a light rehab and establishing a good theme for the property so it's possible to increase the rents and desirability of the STR? 100k is more than enough to buy on the emerald coast. I would recommend a beach house or townhome since the majority of condos are getting big assessments and you have to pay higher points to finance it.

Post: Fort Walton Beach local- looking to build my portfolio.

Ricardo HidalgoPosted
  • Real Estate Agent
  • Posts 552
  • Votes 254
Quote from @Candace Ganhann:

Good Morning All,

Newcomer here! Looking to invest in my first property and build a portfolio, hopefully in the panhandle. Buy and hold, open to light rehab, multi-famil,and single family homes that need limited renovations. Looking to make connections with investors interested in making passive income as my goal is to invest with OPM.  Also, looking to connect with brokers in the local area. Will invest in other locations if the deals makes sense. I look forward to network and all the great information this forum will provide. 

Thanks

Candace


 Good afternoon, The Fort Walton Beach, Santa Rosa Beach, Navarre and Destin market will be good for long term rentals with light rehab. Panama City beach, Miramar Beach and Navarre Beach will be good for short term rentals and long term appreciation. I'd be happy to break down some of the numbers with recent projects we are doing or have done in the past to see which strategy is the most beneficial. 

Post: Selling long term rentals to acquire a short term vacation rental.

Ricardo HidalgoPosted
  • Real Estate Agent
  • Posts 552
  • Votes 254
Quote from @Levi Crawford:

My family and I love going to Florida off Highway 30A and have been dreaming of owning a place here for years. I am considering selling my rentals in Arkansas to be able to buy a vacation rental where we love to go so much. I have zero experience with short term rentals or buying beach properties. Any help/advice would be GREATLY APPRECIATED. 
I don’t need this property to cash flow however this is a lot larger investment than I am use to and would have to have it paying for itself or very close to it. Again any and all help, advice, real world numbers, experiences, anything would be appreciated!


 Hi Levi, I live on 30A. There are pockets of 30A that are offering huge appreciation and growth in the upcoming years. I think the west side of 30A or Inlet Beach has a lot of potential since it's underdeveloped compared to the east side and cheaper to buy in for the same property. Let's connect and go over a few scenarios that may make a great long term investment. 

Post: Florida STR locations

Ricardo HidalgoPosted
  • Real Estate Agent
  • Posts 552
  • Votes 254
Quote from @Amanda Swanson:

Hi all - I currently have 2 STRs, looking at numbers and trying to narrow down a FL/AL beach location for the third. Is there any where in FL where the numbers still make sense to buy? Thanks for any insight.


Are you looking to build or renovate with a buy and hold? If so, yes! Higher equity position with greater cashflow using these 2 models to make sure the STR or LTR net more money. In addition, this will put you in a refi position when rates drop!