OUR PROPERTIES
WE STARTED BY HOUSE-HACKING IN 2020 AND HAVE SCALED RAPIDLY EVER SINCE
WE CURRENTLY OWN AND OPERATE 10 STR UNITS IN THE PENSACOLA AREA
SEE OUR CURRENT HOLDINGS BELOW
65 N DONELSON ST
We purchased our first property remotely while Andrew was in TBS in Quantico, VA. They used a VA loan and offered a bit above the sellers counter-offer in exchange for closing cost coverage – which resulted in Haley and Andrew walking away with cash in hand at closing. This property features a Single Family Home Built in 1920. Two additions were made, one adding a laundry room and an office, and the second adding a lofted studio apartment – a mother-in-law suite. There is a separate building on Chase St that has an upstairs and downstairs 1 bedroom apartment.
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1870 Sq Ft
1912 E CROSS ST
We decided to forgo using the VA loan again to save that entitlement for a more high value property. We acquired this one with a Conventional Primary loan 13 months after moving to Pensacola. What attracted us to it was its location (the highly coveted East Hill neighborhood) and its STR ability. The garage was converted into a master bedroom with outside access. After moving in we boarded up the door to the rest of the house and made it our 5th AirBnB unit, Haleys pride and joy, the “King Suite of East Hill” – currently AirBnB’s highest rated studio apartment.
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1520 Sq Ft
1119 & 1121 E LAKEVIEW AVE
This was our first foray into creative financing. I drove past this property a few hours after the owner posted his FSBO sign. I pulled into the driveway and called the number, and the owner came out of the garage and talked to me. I made an offer on the spot, which was rejected, but the seller called me a few weeks later and we came to terms on the purchase. The sellers agreed to take the down payment in installments over a year, and sell the property at nearly half of the going interest rate at the time of closing. Not only that, but they agreed to work in a 7 month closing period for them to acquire funds to furnish the units and make them their 6th and 7th STR units in the Pensacola area.
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3400 Sq Ft
200 S COYLE ST
This house is ugly -no doubt about it. I bought this property because the seller was looking to retire and willing to take a small down payment in exchange for the deed. What made it attractive to us was its location. It’s just north of a very large lot that will soon be developed into a major apartment complex with retail on the first level. Less than two blocks away is Wahoo’s Stadium, Pensacola’s pride and joy. It is also a keystone lot, meaning that other vacant lots in the area will have a difficulty in selling without bundling alongside this property. We intend to hold this for three years or less and then sell it to a developer looking to build a luxury shotgun style houses. Currently it consists of a SFH and a tiny home on 1/2 of the lot. The second half of the lot will soon hold a pair of tiny homes.
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703 Sq Ft