Latest / Short Term Shopping / What's For Sale in Gulf Shores?

Transcript

What's For Sale in Gulf Shores? · Short Term Shopping

• 0:02
  Speaker A: Welcome to Short Term Shopping, where we explore homes for sale in the best vacation markets in America. Some homes we do like, some homes we don't like. Brought to you by the Short Term Shop. It's Short Term Shopping. All right, here we are. We are in the one, the only Gulf Shores, Alabama. Yes, Alabama has a beach and it is beautiful. And we've got one of, one of our biggest badass real estate agents. And he's been with us basically since day one here at the Short Term Shop. And he's always got a smile on his face and it's always a pleasure. Mr. Jonathan. How are you doing, brother?
• 0:49
  Speaker B: I'm doing well, Luke, thanks so much for having me on here again. And it's always a pleasure.
• 0:53
  Speaker A: Yeah, you know, Jonathan, he's a, he's a, he's one of those guys, you know, just everybody loves him and it's, it's a, it's an honor, man. You're just such a delight, you know, so we appreciate you. And also an MMA fighter, believe it or not. What's going on there? I know you've done what I know two matches that I'm aware of.
• 1:14
  Speaker B: Well, so I do still train mma, but I'm mainly doing like jiu jitsu tournaments because I'm 41, so that's kind of what I'm focusing on now. My trainer's still trying to get me into an MMA fight in the near future here soon, but. But yeah, just trying to balance that and work and family. It's a, it's a fun hobby is all it is, but I do enjoy it. That's fine.
• 1:39
  Speaker A: So is it for the most part, is it like, you know, I mean, like, I'm a huge runner. Like, I love running. I've been running regularly for all of, almost all of my adult life. I'm never going to win anything, ever. And so, I mean, how. Not that. That's, I'm not, That's not what I'm saying. What I'm saying, is it more of a fitness thing or, you know, what, where in your brain, like, how does that work?
• 2:04
  Speaker B: So it does motivate me to get fit because when I'm thinking of being in there and competing with a younger guy, then it gets me really motivated to get my cardio. And having been in a few competitions and gassed out a couple times, that's, that's very eye opening and it'll make you want to work harder. So. So, yes, definitely. It's a good motivating tool and it's just a Sport that I really enjoy watching. I think martial arts is just a very fun. It's just a fun thing for me to do and I've always enjoyed it. But now I was. When I turned 40, I was like, you know what, if I don't compete now, I'll never do it. So that's another thing that hit me. I was like, you know, I just need to. Needed to try this new challenge.
• 2:49
  Speaker A: That's cool. I love that. You know, why not. And I should, I should explain. I have this background which has nothing to do with our podcast today. I am in New Orleans right now, which is why this, I have this background. However, it was the only background I had, to be honest with you. So. But New Orleans is just, what, a couple hours from where you are. So right down the road, it's, it's two buckies away is. Is how I would explain that. Right. So, you know, there's that new Bucky's over there on the Mississippi Gulf co. And then you guys have Your own BUC EE's right there at the exit. And we passed by that one on our way home to the other beach down in 30A. But anyway, yeah, background makes no sense. So if you're watching on YouTube, I do apologize for that. It's nothing to do with Gulf Shores. I should have thought of that. But anyway, Jonathan, what do you got for us? We'd love to see some, some product, if you will. If you have some cool houses for sale or even ones that you don't like.
• 3:44
  Speaker B: Absolutely. So just a general, like, overview. So houses are a little bit limited in inventory right now. We do typically see a lot more inventory as the summer winds down. Just because a lot of people are raking in their rentals, it's tough to get people in for showing. So it just typically we will see more inventory in the next month or so. I'm really excited about that. But in the current inventory, I have picked out some that I think have a lot of potential too. Do I need to share my screen here, Luke, or.
• 4:15
  Speaker A: We would love that. Yes. And you know, I mean, again, this is all top timely stuff. So at the time of the recording of this podcast, inventory's a little low, but that doesn't mean it, it will stay that way in three months. So you want to tune back in, of course, to short term shopping. Jonathan's gonna come back on here again in another month or two and we'll keep you up to date on, on the current status of the market. What do you got for days on Market right now, just throw random number if you got one.
• 4:42
  Speaker B: They're still slightly over 100. Actually need to look at the exact number. But they've been hovering right around there like a little over 100. And they break it down to where we have the, the vacation market and then we have the residential side of things. So they're broken down a little bit differently on days on market, but on the vacation rentals, the vacation side of real estate, it's about hovering over 100 days.
• 5:05
  Speaker A: All right, and full disclosure, I am not a licensed real estate agent. I'm just a guy that buys a lot of houses and I work for the short term shop and so does Jonathan and he is a licensed real estate agent in Gulf Shores and would love to sell you your next beach house. But yeah, go ahead and share screen if you, if you're, if you're ready.
• 5:24
  Speaker B: All right. Okay.
• 5:26
  Speaker A: So, all right, here we are on Palmetto Drive. This, I mean, 699 seems like a deal. What do we have here?
• 5:34
  Speaker B: So, yes, you're gonna laugh at the inside, I think, but this to me is a great deal. It's in a community called Surfside Shores in Morgan, which I know I've talked about before. The key to optimizing in Fort Morgan are houses that are pet friendly. So this would to me need to be pet friendly in order to hit the highest numbers. I've got a ton of clients that are repeat clients there that that's what they do is buy pet friendly house rentals. I have many myself in Fort Morgan that are pet friendly house rentals. This one is an ideal candidate for. It's not quite as short of a distance of a walk as I typically like. But this community in Surfside Shores is a golf cartable community. So you can provide a golf cart, which I would do. Many people do it there. I mean, of course that's up to what your preference is. But to hit the highest numbers, you would really need a golf cart for this one and add a private pool. These lots in Surfside Shore are huge and there's a big backyard. You could easily add a pool. Of course we have to go through a process that I can guide you through to confirm that, but I don't really see any reason from what I can see that you couldn't add one. This is a five bedroom, which for this price, those are just kind of tough to find a five bedroom house anywhere here for close to this price. But you'll see the decor here is kind of. Do you see the name of that.
• 6:58
  Speaker A: Oh, my.
• 6:59
  Speaker B: You see the name of their place?
• 7:01
  Speaker A: No. What does it say? I can't read it.
• 7:04
  Speaker B: The Fat Mermaid.
• 7:05
  Speaker A: Pet mermaid.
• 7:07
  Speaker B: The Fat Mermaid is the Fat Mermaid.
• 7:10
  Speaker A: Oh, my. That's not even appropriate.
• 7:12
  Speaker B: Okay, so I didn't name it.
• 7:14
  Speaker A: I didn't name it. All right, so this is. I mean, flip through a little bit more here. But this, to me, looks like they took a old house that they probably got a decent deal. Hold on now. I need to see when they bought it. When was it built? Go down a little bit there. It's a 97. Okay. And then scroll all the way down and find me. The price history is going to be way down, down, down, down. Property history, probably. Yep. Okay, so they bought it for. We don't even know. Okay, keep going. We don't know what they bought it for. Now you could pull that. If somebody was seriously interested in what this person paid for, you could pull that information. But it's not showing us here on realtor.com. so. Okay, we don't know what they paid. It's been for sale off and on since October, and they are 100 grand under their original ask. All right, anyway. All right, let's go back to the pictures. This, to me, looks like they bought it, you know, in original grandma shape and started doing their version of. Of some kind of decor design work with this. With this tile behind the. The. The television, which looks to me like that's peel and stick from Amazon. Um, which is fine. I mean, honestly, that does work in some cases. A lot of people use that for podcasting things. Like, I mean, I got a fake background from the wrong city right now, so who am I to say anything but they got this really obnoxious fuchsia colored couch. Yeah. You see the line right there, that. The picture on the left with the dining table. You see the line going down the white on the wall? That's peel and stick.
• 8:57
  Speaker B: It is, yeah. I've been. I've toured this and touched it. It is, yeah.
• 9:01
  Speaker A: Which is fine. I mean, it's inexpensive and it was a homemade job. Right. But it does look kind of cool. And then there's this mural, you know, I mean, so I get where they were going with this, but basically, Jonathan, correct me if I'm wrong, we do need to rip this stuff off the walls, which would be easy, and start over. And even just a paint job, really, all we need is a paint job.
• 9:22
  Speaker B: I agree 100%. Like, I'm. And I'm not clowning anybody's taste or anything. Like that. But for the most mass in this market to get the most rentals, I don't think this is the right decor choice, so. Yes, but like you're saying it's not. I mean, the whole condition, when I toured it, it didn't seem in bad condition at all. It's just more cosmetics getting this looking, you know. Paint and cosmetics.
• 9:47
  Speaker A: Yeah. Like. Like this picture here. Go back one a little bit. That one right there. Like, how did they decide to do the half wall on the left and not the, you know, and the whole wall on the right? You know what I mean? That's a little. It's just. I understand where they were going here. Like, they're probably watching a bunch of Instagram influence, you know, like design influencers and things like that. I think I understand where they were going, but they just didn't quite get it. Am I right?
• 10:12
  Speaker B: I agree.
• 10:13
  Speaker A: Okay, well. And what's this bedroom now? Now the, the countertops are nice. Those are. That's a great countertop.
• 10:19
  Speaker B: Yeah. Overall, I mean, I think it's not going to take too much for somebody to. To get it right.
• 10:24
  Speaker A: That's going to be a Taj Mahal, I think is the name of that color. That's a pretty hot color right now on those countertops. And then what is this? We got some shells on the wallpaper.
• 10:34
  Speaker B: Is that. I think those are shells. Yep.
• 10:39
  Speaker A: Your queen bed. But that room is probably a queen bed room.
• 10:43
  Speaker B: Yeah. Some of the rooms aren't very big.
• 10:45
  Speaker A: Anyway, I'll stop talking. You tell me. You've been in this house. Is this a deal? What are we looking at here?
• 10:52
  Speaker B: So I do think it's a deal, especially with negotiation. But the key to this one is having a golf cart. You know, of course, doing some decorating on the inside, adding a golf cart, which, you know, when on the note of golf carts, I prefer the low powered electric ones just because I've had clients with the. That have opted to get the high powered gas ones. That usually leads to people acting more reckless. But anyway, the low powered electric ones. And I'm, you know, look into the liability of all that, of course. But I have a lot of clients who've achieved a lot of success, especially in this community with golf cart friendly rentals. But yes, it's got five bedrooms and adding a pool, adding a private pool would be the other key to truly optimizing. You can finance the pools, but that's. I would do it in a heartbeat at a pool and a golf cart and decor. And I think you've Got a, a good deal here, which some of the decor, you know, I'm not an interior designer. I'm not sure if you could, you know, save some of it or not. But anyway, I know it needs some love on the decor side for sure. But some of the updates like you're saying, I mean the countertops and everything like that aren't too bad.
• 12:06
  Speaker A: No, some of them are okay. Like that bathroom looks pretty good. I would say that bathroom's good to go. For this to be a deal. What, what price are we looking at? Like, I mean in other words, like as far as rental income and just somebody look straight up investor style.
• 12:22
  Speaker B: So this one is not newer construction. So the insurance is going to be a little bit higher. In this community you do have to watch out for certain parts of it being in Cobra. This is not in Cobra, actually, I'll have to double check that. But I'm almost sure it's not in Cobra. And so I think even at the price it is, it's not a terrible deal. I just think it's been sitting long enough. They produce it now, it's just sitting at a decent price as it is. But if it were me, I would of course try to negotiate a better deal, try to get towards the mid sixes and anything on top of to me right now, I think you can make the numbers work at this price. Doing decor, adding decor changes, adding a pool in a golf cart. But of course anything we negotiate will then just make it a better deal. So to answer your question, I don't think it's a terrible deal right now. I think if we negotiate it could become a very good deal. And as I was saying though about the golf cart, it's about a 10 minute walk I would say, but it's like a, you know, five minute golf cart ride to the beach. So not bad.
• 13:28
  Speaker A: Do we rent the golf cart on an annual basis or do we buy it?
• 13:32
  Speaker B: So I have people who are not willing to take on the liability, which again, I'm not telling you whether to do that or not. I'm just saying if it was mine, I would have my own golf cart and have a waiver signed. You know, I've never had one. So I'd go through, I talk to somebody, get the right advice on that. But if you have a, a low powered electric golf cart there, you can get to the beach. A battery powered golf cart, I should say, and very easily. And I would have my own. I have a lot of clients in there that do have their own. And it's part of the marketing for the property. They don't necessarily charge extra, which is kind of like the pool. Heated pool thing. Sometimes I have clients that charge for the heating of the pool. But you're more of a. An expert on. On what you would recommend there. But I have others who market it, market it as a heated pool during the off season and don't charge extra. But it's the mark being able to market it with a heated pool to springs people in. And that's actually when I added would add a pool here 100% be a heated pool too. But anyway, on the golf cart, that's more of a personal preference thing and what you're willing to take for the liability. But if it were me, I would have a. I'd pay $5,000, get a golf cart and have it as my. There.
• 14:45
  Speaker A: A used golf cart.
• 14:46
  Speaker B: A used golf cart, yes.
• 14:48
  Speaker A: So here's what we do. What you're making that sound more appealing, to be honest. We rent by the year. It's more than $5,000 a year. But it's a brand new golf cart and I have no Lia, to be honest with you. The reason I do it that way and, and I. This is relatively new for me. I'm only on my second season with golf carts. I was, I was no golf cart for up until two years. Two seasons ago I found a really good guy is what happened. The guy I have is spectacular. I do fear that at some point he may get bigger and not be as spectacular. But right now he's just dynamite. I mean I text him every now and every now and then just randomly to say thank. I mean he goes. And again, I hate to talk about this. No, he's not in Alabama, so forget about it in Alabama. But he goes between turns. Like he'll go. He has the schedule and he goes on a turn and cleans it every. Every time he cleans it and make sure it's plugged in. He communicates personally with the guest, which you have to be very careful with that if they're going to communicate with the guests. That can get sketchy if their customer service is not up to your standards. It's. You're, you know, it's. You're dead in the water. So I'm doing it that way. It's like, it's more like I think closer to eight grand a year, which is a lot. But I am able to, I'm able to get a definitely, I would say more occupancy for sure. Maybe. Am I getting more Price per night? Yeah, I would say a little bit without. Without looking at my numbers, but I do find that it is a little easier to rent now. I get. I get people a little more eager, not as apprehensive. You know, if they start asking questions, they will turn into a booking rather than turn into a. Not a booking, that kind of thing. So that's where I'm at with the golf cart. But yes, pool, same thing. Has to be heated. Has to be heated. Don't bother with a not heated pool. We have gone both ways on that, Jonathan. We did a number of years where we were not charging for the pool heat and making it a value add. However, the past two seasons we're going into now the second season because it's getting to be fall. Here we are charging for it once again. And I'm doing that because we found that when we were giving the pool heat away, the guests expectations were too high. We were getting lots of comments and complaints that the pool's not, you know, they were expecting it to be like a hot tub, like, you know, 100 degrees or something like that. And since they weren't paying for it, they. It was almost like they expected more. So when now we are paying, charging for it, and it's not much. I want to. I don't even know what it is, to be honest with you, but it's not much. I don't know if it's 50 bucks a day or if it's like 200 extra 100 or 200 for the whole stay or something like that, I'd have to look. But for whatever reason, because they're paying for it, they complain less. It's almost like they. Here's. Here's the pool heat package. This is what you get for this much money. And they pay more attention because they're paying for it, which is, you know, it's counterintuitive, really. You would think it'd be the other way around where they're grateful for the free pool heat, but they're not. So I got to the point where I said, you know what? These people are complaining so much, I'm just going to charge them for it. And we did find that when we started charging for it again, they complained less. So that's how we're doing it. But no wrong answer there. No wrong answer on the, on the rented golf cart or the. The owner owned golf cart. I have buddies that do that too. And I do think you can. Financially, you're. You're probably going to make out better if you do own the golf cart, especially if you buy a used one, because you, you can get them used for dirt cheap.
• 18:40
  Speaker B: From what it sounds like you're saying, Luke, is that, yeah, for $8,000 here, you can get a, a really nice used one. But I do get what you're saying too, because there are services here too, that are similar to one. You're saying that you can literally provide everything, all the info for a drop off for the guest, and it takes all the liability off of you, takes all the golf cart maintenance off you. So I get it both ways. And they will drop them off and the guests will have to pay them directly. You're just, you're just providing the, you know, the contact for the service. So I get it both ways for sure. But I do think it seems like what you're saying is financially it makes more sense to probably own 100%.
• 19:21
  Speaker A: I do, yes. If you're, if you're a single home operator or double two home, three home operator. And this is like, you're really hustling and really, you know, doing this. I think that owning the golf cart is the way to go. If you're scaling in any way or you have a super demanding day job, or, you know, you're just, you don't want to deal with it. I really like that I don't have to deal with the questions of the golf. It's not our problem. Like, we literally don't do anything. I have it set up so that I responds, you know, now when I say I, I do want people to understand that we have spent countless hours perfecting our AI to make it so that it is badass. If you just turn AI on and leave it, it will not be badass. But we've spent, I mean, just hundreds of hours on setting it up perfectly. So now when the guest says, hey, the golf cart, something, something, something, we have like a 14 step process or whatever in our AI that whatever question they ask will be answered by those triggers. And usually the answer would be just, you know, text the golf cart guy, here's his number. But if I wasn't spending $8,000 a year on this golf cart that had this guy that you could text, you know, then, then you have to be the customer service for the golf cart. So keep that in mind. But anyway, all that to be said, let's look at another house, buddy. What do you say?
• 20:44
  Speaker B: All right, so now we have. This is going to be a completely different type of property from that one. So can you, can you see this one? Okay.
• 20:53
  Speaker A: Yeah, it looks much newer.
• 20:55
  Speaker B: Yes. So this one is newer. This is gold fortified, which I mentioned before is going to have very low insurance for the area. I've got clients with gold fortified at this current time paying you know, less than 4,000 total for all their insurance, which is for a beach market is very low. Might not sound low to non beach market people, but that is very low for this area. Now the, this one I picked out because for one thing it's priced lower than any in this community has been in many years. So this is priced right now at 819. They at 1 point the same floor plan was selling as high as in the 900s, you know, kind of low to mid nines was kind of where it peaked. And then many of them have sold in the high eights as well. So these are, it's in a community community called Lost Dunes in West Beach. And anyway they're, they're just really set up well for short term rentals. The beach access is literally here's the community, you can see the community here. The beach access has a lighted crosswalk right here. So anywhere within the community you're five minute walk or less to the beach right here and you've got a lighted crosswalk which to me is the best way to get to the beach. If you're second tier. There's a lot of people talk about deeded access but a lot of times it doesn't have a lighted crosswalk. So this is just the, the best type of access. Another thing reason I showed this one is yes, this to me is a good deal or could of course be negotiated to an even better deal as it is. But there's also this developer is building another new construction that's going to have similar finishes, another new construction community just right down the road with great deeded beach access that are five bedrooms. I'm very, I've got one reserved for a client and then another client's probably going to reserve one here in the next couple of days. But it's the new community I'm excited about because it's a five bedroom. Not to jump around too much but this will give you an idea of kind of what the finishes and the type of community will look like. But all, almost all of them are three and four bedroom communities and this is going to be an all five bedroom community. So the extra bedroom is going to make it a little more unique for this type of property. And they're priced at 899. Well the interior ones are priced at 899. There's some ones that are slightly bigger that are also five bedrooms priced at 999. But I think that 899 ones are very great deals for what they are for. And now they are new construction. You do have to fully furnish it, decorate it, all that stuff that comes along with it. But there's also a lot of pros to new construction that I, that are specific to this area that I can go over and not specific to this area too. But anyway, that other community is going to have a community heated pool also. And another deeded, they're building a lighted crosswalk to have great beach access for that too. So if you do like this style of house and you want something that's low maintenance, you know, they've got the Trex decking. I mean, they're set up to be easy to maintain, short term rentals. I mean, that's what the developer was thinking when he built it. This community has two pools. One's heated, one's not, and it's got a little hot tub. But as you can see, they're just.
• 24:25
  Speaker A: Yes, I love this. I love. I am a big fan of the under $1 million beach rental with a community pool. I have three of them. Well, two of them are probably over within that million dollar range. But the community pool, again, it's a liability thing. It's not my problem. Right. Like if, if, if the pool heater's not working, I have somebody to blame it on and they have to go get it fixed. And I, I hate to tell you guys, I really don't want to bring this up because I know there's ladies listening, but people, some children sometimes have accidents in swimming pools. What was that movie? The Sandlot Gang? No, a Caddyshack. It was Caddyshack, man. But another, a different sports movie. But, but if that happens, then that's because, you know, technically you probably should be shutting the pool down and draining it when that happens. And that's a lot of money. And if it's, if it's on the hoa, you don't even have to deal with it. But you know, these are things to think about. Again, if it's a, if it's a personal use home, depending on where you're at in life, you probably do want the private pool. But if this is more of a rental and you know, you use it occasionally and it's not really, you know, a sentimental property, then I love. Huge fan of the community pool.
• 25:54
  Speaker B: Awesome. And just to let you know, Luke, you're kind of scaring me because I'm getting my latest rental I bought at the end of last year, put in my beach mouse permit, just got it approved and I'm getting a pool put in the deck, a private pool. But now for my projections on rentals, it's going to be worth it because it's going to increase. It's going to have a heater on it, but I know there'll be some new challenges. And just by the way, the insight he gave on the heated aspect and charging for it is something I never would have thought about. That's. I love being on a team with somebody that has experience.
• 26:27
  Speaker A: Oh, thank you.
• 26:28
  Speaker B: Almost everything. So I'll definitely be talking to you more about that as I get.
• 26:32
  Speaker A: Yeah, no, you, you definitely need the pool. If you don't have the community pool, then go ahead and get the private pool. You do need it. It's especially for personal use. You know, the kid, next thing you know, the kids are going there all the time and the kids, you know, kids love swimming pools. So yeah, you're gonna love it. And. And again, no, I don't. No wrong answer whatsoever on the. On the free heat or the paid. Paid heat? You might try it both ways and see which one you like better. But. All right, what else you got?
• 26:58
  Speaker B: Okay, so now we're going to move on to this one. Now this one I haven't toured yet and I don't know for sure on the condition, but I do like the fact that it's an eight bedroom, six and a half bath property for this price with a private pool. So again, I haven't toured it. I don't really know the condition just yet, but I know that eight bedrooms with pools hit really good numbers here especially. So this one's in east beach, which is a different location. I don't know if you can really see on that map, but west beach is to the west of the hangout. Then the east meet area is just right here, first and second Avenue. Most of these areas are fairly easy access to the beach, but of course some are better than others. And if somebody was interested, I would obviously walk the access and do it on a video and show you exactly how far it is. But from everything I see, just without touring it in person, this one has potential and it's already priced, you know, as low as you will see a one, I mean an eight bedroom property priced here. And now this one is a duplex too. So if you. Some people aren't fans of duplexes. Some people Love them and that's what they prefer. There's. It can be more work if you optimize it in my opinion because you can have three listings for a duplex. You can have the master or parent listing, I guess you would call it for one property which could rent it as one whole property. And then you can have the daughter listings, I think you call it for the, for the two sides which can be really good for the off season because during the off season it's much harder to, you know, to rent out an eight bedroom property than it is to rent out two four bedrooms. So if you really. It gives you more to play with with a duplex to focus on optimization, pricing, different strategies. So some people love the, the idea of that flexibility and some people don't want anything to do with it. So this one is a. To me, this one has a lot of potential. From what I can see here being an eight bedroom over an east beach and you can see about where it is, distance to the beach. I would, I mean I'd have to walk it but I wouldn't think it's more than about, you know, six or seven minutes or so on the high end. But of course I would have to walk it to make sure.
• 29:24
  Speaker A: Seems to be fairly well updated for a 1984 property.
• 29:29
  Speaker B: That's what it looks like. That's right.
• 29:31
  Speaker A: Yeah, it looks, everything looks, you know, a couple furniture things. I'm not a big fan of those, those metal bar stools, they scratch everything up but they last forever, you know, just little stuff. But like the, I mean even the paint job looks pretty good. So. All right, cool. All right, what's next?
• 29:47
  Speaker B: Okay, so now this one is a. There's two that are. I'm going to show back to back to the same. Basically the same build but slightly different locations. This one is a new construction six bedroom house in that same area I just mentioned in East Beach. I have walked through this one. I mean it's new construction. It's got a huge private pool. If these pictures will pull up here. This, I mean it's very nice house. It's got a couple of huge bedrooms that. And you do have some slight views of the Gulf also. This is gold fortified. So you're going to have very low insurance and, and I mean it's just going to be a monster producer. It's a six bedroom in East Beach. It's got about a. You're looking at about a four, three to four minute. It really is about a three minute walk to the access from this One to the beach access right there by the, the main access and by the hangout. And as you can see, this one has a little better finishes than the next one I'm gonna show you. But to me, I like the next one better because of the price and maybe the location too. It's the same as this one though. You see, they built two rooms here that have the built in bunks with the beds underneath. So a lot of sleeping. You know, you can sleep a lot of people in. These comes furnished. You can negotiate the furnishings in. At first they weren't offering from the new construction, but then you can negotiate the other one I don't think is furnished, but you can negotiate potentially a furniture package for them.
• 31:22
  Speaker A: Are the builders, are the builders getting a little looser because things aren't selling as fast?
• 31:29
  Speaker B: Some of them are, yes. Like the new, the one I mentioned earlier, the 899 new construction, those are kind of hot. So. And that developer usually takes about two years before they start negotiating just knowing them. This one right here has been on the market. Both of these have been on the market a long time. It's hard to say what they're willing to negotiate to. But yes, these should have some negotiating room, I would say.
• 31:50
  Speaker A: Yeah, well, it takes builders two years to do anything, right?
• 31:54
  Speaker B: Exactly. This is the pool area too, as you can see. That was beautiful for this area. For this area. That's a huge private pool and it's heated as well, so wonderful. All right, the next one, I don't really have to go through all the pictures, but it's the, the same plan. But what I like about this one actually, it's about a minute longer to the beach, but it backs up to the Gulf State park, so you've got a lot of privacy. I don't know if any pictures will really show it, but anyways, the same,
• 32:24
  Speaker A: same list agent, same builder, same builder, same list agent.
• 32:28
  Speaker B: It's 100k already priced, 100k lower. And for my conversations I think it's a little more negotiable. So being a minute longer walk to the beach to me is. I think this is still a better deal. It's it again, it has that privacy up against the Gulf State park on the back, which I think is cool. I think it's kind of nice to have that versus the other one is slightly closer to the beach, but you don't have any. I mean it's backed up right to another house. So I think this is a pretty. Oh, you can see that a little bit that's the Gulf State park right there.
• 33:00
  Speaker A: And the, the pool is really, I mean this is beautiful. That pool is really easy to photograph.
• 33:05
  Speaker B: It's. I think this will, will be great on photographs for marketing. And he and I like the way they did the pool too. Just a side note, a lot of these pools, people worry about sand getting into them and they should be. But they built these up on a little bit of an elevation with a wall around it. So I think that'll eliminate a lot of that issue too. So I think they were thoughtful in the design with this one too.
• 33:27
  Speaker A: Beautiful. It's beautiful. Turnkey. All right, what do we got here?
• 33:30
  Speaker B: Okay, so this one, Let me see. Oh, okay. So this is just a
• 33:38
  Speaker A: condo.
• 33:39
  Speaker B: Yep, this is a condo. I threw a condo on here. Now this is just one listing in. I don't know what's going on with the pictures here, but this is just one listing in the Oasis building. Now this is a, a condo complex in Orange Beach. It's a huge condo complex for a three bedroom Gulf front. Of course you'll see some that are parking lot views that are going to be way lower price. And I'm still debating they could be a good deal at the right price. But I prefer Gulf views for much easier marketing. But some of the non Gulf view ones that are the same floor plan are priced in the low eight. So you know, I'm just not sure. But the, as far as the rentability for these is great because they just rebranded it from Phoenix West 2 to Oasis and they, it has a lazy river. Let me see if I can get to the amenities. And this is the unit. One complaint that some of my clients have about the things they don't like are the, the master bedroom right here being back from the balcony. And to me it doesn't really matter. I mean I've seen great rental numbers from these. That's the complex Oasis. And then of course you've got the Florida. I mean they're, they're one of the lower price luxury, what I would consider luxury condos here. Floor to ceiling windows. This one is a little, a little bit dated in certain ways.
• 35:06
  Speaker A: But the Florida tile, I think you were going to say. Yeah. And the furniture, I'll be honest with you. The furniture is what's make. Mostly making it look dated. Like those bar stools look like they're. I mean they're, I'll be, I like them. They're kind of cool, but they do look like they're straight out of Scarface, you know. And that that bedroom furniture, that's just horrible. That does not, we don't want that.
• 35:29
  Speaker B: What do you think of this? Because I get mixed feelings on this. You see, this is the, this is the master, which is, and then there's a dining separating it from the balcony which a lot of the masters here will walk right out to the balcony. But that's something that some people don't like. I've had several clients that don't.
• 35:45
  Speaker A: But seems a little weird to me. The biggest problem here, I can't get past this furniture. I could see this furniture in if you were trying to be period correct with some sort of, I don't know, 1940s house or 50s house or something. But I don't like this furniture. It's killing me. And the cabinets need some paint. They're just, you know, it's just, and I don't even know that I would do the tile. I think I'd probably would leave the tile. But for rental purposes it seems to be in good shape. It's not the greatest color, but it will also blend in with the sand. Because the sand is coming in. Yeah, you got that, that 90s, late 80s, early 90s shower. Oh yeah, with the, with the, the oval opening there. I kind of like those. But you know, it does tell you that it's older. But yeah, I don't know about the dining room. It doesn't bother me too much. I'd have to see that in real life. What is the price on this thing?
• 36:45
  Speaker B: So this is 11115. And these to me, if you can get one close to a million, which I know this slot of negotiation but there's some that I've seen go, that's a killer, killer deal for a three bedroom Gulf front. No matter what the updates look, of course the more updated the deal obviously, but, but these, the way they rent and another encouraging thing is that most of your competition in this complex, they're going to be this updated.
• 37:14
  Speaker A: Oh, they're also not. Yeah, I got you.
• 37:17
  Speaker B: Right.
• 37:18
  Speaker A: Well and another thing is that you're, you know, once you get over two bedrooms, there's, the competition goes straight down the gutter because there's very, very few three bedroom plus condos in existence. Most people at that point, just naturally you would just think about it from a, from a practicality standpoint, you're going to move to a house most people are going to when they move to a three, when you get to three bedrooms, they're going to buy a house. In most cases just, you know, statistically worldwide. So there are not really a lot of three bedroom condos, especially four bedroom condos, forget it in existence. They just don't, you know, they're just not out there. But some, some people love them.
• 37:58
  Speaker B: Well, one other thing on this, on this particular floor plan that I like, Luke, is that you may have noticed these bedrooms, these two ext bedrooms that aren't the master. You can fit two queen beds. I think these are queen. You can fit two queen beds in each of them. So there's a lot of room to be able to sleep way more than the average three bedroom too. So even when you are comparing yourself to other three bedroom condos, you've got these massive extra bedrooms where you can sleep more. And then the complex itself to me is one of the best setup for the price. I mean you've got these new ones coming online like Creed Seaside, I'll tell you about next time is one of the most luxurious condos this place has ever seen. But as far as West 2 to Oasis, they've got a restaurant there. Now they've got little Instagramable things there in the lobby. You've got workout rooms, you've got a game room. I mean the amenities are awesome. You've got indoor, a huge indoor pool. You can see that there's, I mean that's a massive indoor pool. This lazy river on the outside.
• 39:06
  Speaker A: This is why you get a condo. That, that water slide is badass and you're not getting that in a house, isn't it?
• 39:13
  Speaker B: I mean everything, they have a, they have an adults only bar and adults only pool area that's closer to the kids area so you can still watch the kids. Like it's really well thought pickleball courts. I mean if you want amenities, you can't really. There's not one I think you can name that this place doesn't have. I mean it's got, you know, putting greens, this saunas. Every amenity that you want is here at this complex. So that's what you get for the, that's why they rent so well too. All right, for the sake of time,
• 39:43
  Speaker A: let's go to Mobile Street.
• 39:45
  Speaker B: All right, now we're bumping up the price point a little bit now.
• 39:48
  Speaker A: All right, let's look at some, some, some luxury, some baller stuff here. Why not?
• 39:52
  Speaker B: So this one is in a unique area. So it's a little higher price than I would, I would want to negotiate it down. But I do have clients with similar ones to these that are absolutely crushing it in Fort Morgan. Now this One is unique because the, it's gold fortified again it's new. This, the only thing I don't like about this one is it doesn't, I don't think it has an elevator which for bigger houses like this I do prefer and I have a lot of clients with these large Gulf front houses that have elevators. But this one is unique because Mobile street is right by the Bon Secours Wildlife refuge. So you have these just sprawling views and less development around it. So if you're wanting like a unique location, something that is just harder to find in the area. This is an amazing location, it truly is. And the house itself you can see is you know, very nicely done. Six bedroom, seven bath Gulf front. So that's the reason you see the price here, Gulf Front lots just by the way if you're wondering why, I mean for one thing they, the houses rent differently. You're looking at huge six figure rental numbers. If you, you know I won't get into that too much but I have a lot of data I can show you on those. But the lots themselves have gone from being not that long ago in Fort Morgan you could get a 50 foot lot for 900 to a million. Now you can even, can't really even find those without really digging hard and they're going to be somewhere in the 1 the 15 range for a 50 foot lot if you can find them. So the prices of the go front line, the scarcity is one of the reasons I love goldfront. I do believe in the long term. These are some of the best, best things you can buy here because they're not building more Gulf Front. They're so desirable builders and developers are seeking them out left and right. They're tearing down older houses, building new ones like this and having a higher price. So to me that is the power of Gulf front houses and unique lots like this one will drive higher prices. So you can see, I mean this is, this is the, this is the reason you go go front. I mean the views. This house right here by the way you could not rebuild that house if it got torn down. You'd have to move it back. This is way south of the ccl but you can tell by the age of it it's an older house. So they came out with a CCL I think it was like in the early 2000s or late 90s and so this was grandfather Nan. But if it did get torn down then that would, that view would open up too but hopefully for their sake it doesn't and that will happen.
• 42:34
  Speaker A: That will happen at some point. It might be a hundred years, but it will happen.
• 42:37
  Speaker B: Right. And then it does have a small pool. Now for these deck pools you don't need a big one to see great increases in rental revenue and, and it's easier to heat, lower cost to heat. So this is perfectly fine for a deck pool in my opinion. And you got the Trex decking as you would expect. I mean for this price point you expect the luxury house and, and like I was mentioning, just a very secluded type for, for this one right here.
• 43:08
  Speaker A: Love it, love it. Newer build on the water. What, what will that thing grow? So really good operator. What do we get out of that thing? Give or take.
• 43:19
  Speaker B: So that's why, I don't know, it needs to be negotiated now. The expenses are lower but the clients I have with these are hitting somewhere in the 350-400k gross range.
• 43:30
  Speaker A: Oh my.
• 43:31
  Speaker B: I mean they're, they're rate gross. But for this price, that's why I think it would need negotiation and why I think it's sitting. It's more of either a second home buy to have it pay down, you know, if you're not willing to negotiate much or I have clients that have closed on similar one to these not long ago around the 2:9 price point that are from what they told me they're cash flowing very well for something very similar to this one. But I do think at this price it's well, whoops, that's the next one. For this price it's gonna need a little bit of negotiation.
• 44:05
  Speaker A: I got you. All right, go ahead and share. I unshared there. So go ahead and share again on that last one. We'll wrap it up with one more.
• 44:11
  Speaker B: So now this one is an interesting one. This is basically like a, I look at it like a mini Gulf Front hotel. It's kind of like what it is. It's a, it's a 12 bedroom, 12 and a half bath.
• 44:23
  Speaker A: It's got, sorry, share, share your screen. Oh, whoops, I turned that off. That's my fault. Go ahead.
• 44:29
  Speaker B: Okay, one second here. Did that, that work?
• 44:35
  Speaker A: Sure, that'll work. There we go. Okay, this thing, this is impressive.
• 44:40
  Speaker B: So this one is at a 4 million price point. But again, duplex. No, it is a duplex. It's a 12 bedroom duplex. So remember the last one I showed was a six bedroom, go front house. Now I don't think it can achieve the same numbers as like a six bedroom single family house can on each side. Don't get me Wrong. But for this price, even 4 million, a 12 bedroom gulf front duplex that has two nice gulf front pools like this on either side is going to rent incredibly well if you optimize it. I mean it has a ton of potential. This is also in Fort Morgan here on Ponce de Leon cord. That's where my latest purchases too. I love Ponce de Leon, but you can see it's just, it looks to be set up well, I haven't toured it yet. One thing to keep in mind is a 7,000 square foot property. You know, maintenance is going to be higher now. Your gross numbers are going to be significant with something like this, so you should be able to factor that in. But, but anyway, you got to factor in more maintenance obviously for a 7,000 square foot house than they do for a 50 square foot house. It's just.
• 45:56
  Speaker A: How old is this? When was it built?
• 45:58
  Speaker B: This one was built in. Let me see here. It's a little bit. Oops. I think it was built in. I think it was early 2000s. Let me check here. Pictures.
• 46:15
  Speaker A: Oh, you're on the photos only hit the back button on. There you go.
• 46:18
  Speaker B: Oh, okay. So this was built in 2008.
• 46:22
  Speaker A: And what's the purchase history on this? The price history, property history, whatever the hell they call it on, on Realtor. There you go, property history there. They bought it for 2.62 years ago, right?
• 46:36
  Speaker B: Yep.
• 46:36
  Speaker A: Okay.
• 46:36
  Speaker B: I mean that was a, that was very, very good when they bought it. Now it's hard to say. I know they do have some numbers on it, but that are okay. I think they're doing like. I have to pull those up. I think they're doing like 360 or something collectively or close to 400. But with optimization. This one has far more potential than that. I mean it just does. I've just seen my clients had far better numbers than that. So anyway, this one is a, is one with a ton of potential if you want like kind of a mini Gulf Front hotel in Port Morgan.
• 47:19
  Speaker A: Love it. All right, buddy, I gotta let you go but we're gonna do another episode soon within. Give me, give us six weeks or less. We're gonna do Gulf Shores luxury. All the best. Highest dollar houses in Gulf Shores. Just for fun. But anyway, how do we find you in the meantime? What's your email address?
• 47:41
  Speaker B: It's Jonathan at the short term shop. And, and, or you can go to the shorttermshop.com and look at. On the agent info over there. But yeah, look forward to helping anybody who's interested.
• 47:53
  Speaker A: Wonderful. Well thank you for your time. We'll. We'll see you next time, brother. Thank you.
• 47:57
  Speaker B: Thanks, Luke. Appreciate you.
• 47:58
  Speaker A: Bye, now.