Main Content
To invest
Step One: Close
Getting Started
Choose an investor-agent from the Stay on 30A team to execute a purchase.
Reminders
Switch utilities into your name. Start making HOA payments (varies by neighborhood)
Register Your Asset
Name & create your LLC at sunbiz.org. After approval, go to irs.gov and register for an EIN. Transfer the asset to an LLC entity for liability purposes, if possible. See our contact below to inquire about easibility. ([email protected])
Financial Framework
Open a new business checking account in the name of your LLC, you will need the EIN.
Open a credit card in the LLC name and use it for all expenses related to this asset, including: utilities, repairs, improvements, travel, etc.
This will help you negate taxes on rental income and make it easy on your bookkeeper.
Taxes
Register to pay sales tax with the state of Florida at: floridarevenue.com/taxes/registration. This will be 6% for sales tax and 1% for Walton County tax which is collected from guest and paid forward. Register to pay tourist tax to Walton County. Register at touristtax.com. This 5% tax is also collected and paid forward.
Contacts
Everything starts with the turnover person. They will be the primary boots on the ground, keeping eyes and hands on your asset. The proceeding list will get you going.
Prepping the Rental
Start with Décor, Furnishings, Keypad Lock, Linens, Doorbell Camera, Upgrades, Updates to taste, etc. Once ready, get photos. We utilize [email protected]. To keep it cleaned, contact Alessandra: 850.832.9074. For repairs, contact Local Handyman of 30A (678.713.0543) or Clara Can Do It LLC (850.687.9148).
Hosting
Create Air BNB and VRBO listings. These take a few hours and the more thorough you can be up front the better. If you have any questions, check out our listings at stayon30a.com. You can see how we do everything. You will also need to make sure you adjust the settings to collect all of the total 12% taxes that will be paid forward. Nightly rate is vital. We recommend opening an account with pricelabs.co This algorithm will guide you and create your “base price”. From this price, pricelabs will daily adjust all of your nightly rates for the entire next year and do circles around anyone trying to price themselves. We recommend a lot of upfront monitoring in the beginning: pay attention to property search results, placement, and bookings to adjust accordingly.
GO LIVE!
Now That Your
Most homebuyers start the process anxious, excited, nervous, and some are downright terrified. It’s natural. A home is the largest and most expensive purchase that most people will make in a lifetime. It can either turn out to be a complete financial disaster or a smart long-term investment.
The person standing between it being a huge financial mistake or a valuable asset is you, the agent. Still, the agent can only help as much as the buyer allows. As vital as having an experienced agent by their side is, there are things that first-time homebuyers have to do.