Labor Day Suggestion: Quit Your Job And Move To Key West

 

My niece and her husband recently visited me. It was their first trip to Key West, and they both fell in love with the place. A couple of weeks ago she sent me an email that said, in part,

"Bill thinks he could drive a pedi-car and I saw a job opening in a tourist shop with paid vacation and full benefits package."

It's amazing the number of stories I have heard over the years about people who come here for a vacation and then decide not to return back home. They found a new home. They looked and found a new job.  They found where they wanted to spend the rest of their lives.

I have written before about how I have quit a couple of jobs. I have a low tolerance level for jerks. Me, I let it fester until I could not take it any longer and then abruptly left. People with cash or an alternate source of income can do things like that. Some people can just suck it up better than others. 

I moved here to open and operate the Eaton Lodge Guest House which was located just off Duval Street on Eaton. The place was foreclosed upon by the SBA. I purchased it at a public auction in October 1993. I took possession Christmas week that year. I placed a couple of HELP WANTED ads in the Key West Citizen and had several applicants within a couple of days. The property had been boarded up for about two years. I needed to get the place cleaned up and ready for business. I learned quickly that it is easy to find workers in Key West. One of the first people I hired as a recent arrival from Connecticut. He had been a Wall Street trader who lost his job and said screw it. He had a yacht which he, his wife and kids sailed to Key West where he took up odd jobs until he could find a more permanent position.  He stayed a week or two doing chores for me and then found something a little better and that did not involve as much work.

It was easy to find replacement workers. There is an endless supply of people who come here looking to live life to the fullest in Paradise. Many find out after they move here that they need two or more jobs to pay the rent and their bar tab at their favorite watering hole. Don't get me wrong, there are good jobs. I have found that for some reason good people with good intentions move here and then catch the Keys Disease. They start not showing up for work on time or missing work altogether.  

Others, however, hold down several jobs and make it to work on time each and every day. Many of the people who work in the hospitality business and construction trades are from Eastern Europe and Latin America. They come to Key West where they have two or more jobs, save their money, and send money back home. They can make more money in Key West in six months than they can in their native lands all year.  And Key West is much prettier and probably less repressive than most places in the world, on that we can all agree. 

In case you did not know it, some of the hotels do not actually employ the housekeepers or maintenance people. Instead, the hotel contracts with a labor provider who supplies the workers as "independent contractors". By using contract labor the hotels don't have to comply with FICA and other federal or state requirements which helps keep operating costs down. Sometimes the "independent contractors" live in housing provided by the labor contractor who takes a portion of the pay for the right to live in company owned hell holes.  Most of these people are living on the edge. Who are they going to complain to? And if they complain, they won't be around to testify in some far off hearing. Free Enterprise at work.

If you are reading this blog the chances are you are not going to end up working for a labor provider. You may, instead, look for business which you could run. Maybe you could do as I did and buy a guesthouse or a small business.  CLICK HERE to search the Key West mls commercial listings.  Maybe you can find a reason to tell your boss "I quit, and I'm never coming back"!

Have a wonderful day off work this Labor Day.  If you have a job, be thankful and show up for work on time on Tuesday. But it you decide to tell your boss to take a hike and decide to move to Key West to buy a guest house like I did, please consider contacting me, Gary Thomas, 305-766-2642 or send me an email at kw1101v@aol.com. I am a buyers agent and a full time Realtor at Preferred Properties Key West.  Let me help you find your place in Paradise.

  

527 Fleming Street - Old Town - Key West

527 Fleming Street - Old Town - Key West

527 Fleming Street in May 2010

527 Fleming Street as it appeared in 1965

Just listed, but not by me, 527 Fleming Street in Old Town Key West. This great house was built circa 1899 according to the Monroe county Tax Appraiser records. Just about every tourist in Key West has passed by this place at least once. It sits across the street from the main Fausto's Food Palace midway between Duval Street and Simonton Street. The imposing house has 3912 sq ft of living space and it sits on a 4528 sq ft lot (45' x 100'). The listing Realtor describes this property thus:

"A most UNIQUE & exquisite mixed-use historic property in the very heart of the upscale Old Town Key West commercial district, steps from Duval. First floor retail space with EXCELLENT visibility; Tranquil & charming 3 bedroom/2 bath residential unit on 2nd & 3rd floors of main house; lovely pool cottage w/private patio & hot tub with TRANSIENT license. Fine, detailed craftsmanship & Dade County Pine throughout. The options are numerous: Rent the retail and cottage to pay your mortgage and live in the fab upstairs apt; OR, run your own gallery or business on the 1st floor, live upstairs and rent the pool cottage; OR rent the entire property and watch your investment appreciate. Some furnishings included. This property literally has it all!"

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There are a couple of very simple points in the above description that warrant further consideration. The property is currently configured and licensed for a variety of uses including light commercial (retail), transient rental, and non-transient residential. A professional like Owen Marshall or Marcus Welby, M.D. might have his office downstairs and live upstairs and continue to rent the cottage as a transient rental. An artist might use the current shop as a small gallery and decide to live in the cottage and rent the two story living space as the transient rental. (You need to check on the permissibility of doing that, but I don't think the transient license is necessarily identified by particular rooms but rather it is identified by address. ) My advice to someone considering this possibility is to consult with a local real estate attorney.

CLICK HERE to view the Key West mls datasheet for more detailed information. This property is offered at $2,400,000.

Returning visitors to Key West love being close to the action. They like to be able to walk wherever they want and know that they can find their way home at night. They love having a nice sunny pool and cooling shade. They appreciate having off street parking. They love being able to sit on the front porch and watch all kinds of humanity walk by and have come to expect to see it in Key West on a daily basis. 527 Fleming Street meets those requirements in spades.

If you are looking for a second home or a small business in Key West and would like to see 527 Fleming Street (or any other property as well), please call me, Gary Thomas, 305-766-2642 or email me at kw1101v@aol.com. I am a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida. Let me help you find your place in Paradise.

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Quit Your Job, Move to Key West, and Become an "I Used to Be"

I sometimes tell people that I used to an attorney. Sometimes I tell them I used to do commercial loan workouts for banks. And sometimes I tell them I used to work for the Resolution Trust Corporation - the former government agency that got us through the last financial crisis. Last week the owner of my gym, Sam, and I were talking about some locals and he referred to them as "I used to Be's." "What?" I asked. He said just about everybody that moves to Key West "used to be" something more important where they came from. They came to Key West to live their lives and took up jobs that were either more fun, more fulfilling, or maybe jobs that just kept them busy so they could live life in Key West. Like death and taxes, living life in Key West beats the alternative.

After I moved here I met all kinds of people that had exciting former lives up north in America. If you have been thinking of moving to Key West and can't figure out how to do it, the little deli at 811 Fleming Street may be your ticket to life in Key West. 811 Fleming Street is a commercial property downstairs that has a lovely second floor owner's apartment. The lot is 23.75' wide and 100' deep. I think there is room for a pool behind the property. That's another issue for another day.

This is how the listing Realtor describes this property: "Fantastic Opportunity to own a commercial property and a money making business with a fabulous second story apartment in a great location. Flexible zoning allows for many uses while the property is situated in one of the best neighborhoods the island has to offer. The property has undergone many recent upgrades, including a full renovation of the one bedroom and one bathroom apartment. Parcel offers a deep lot and generous backyard to be used in conjunction with a commercial or residential use. Takeover and expand the existing convenience store/deli, Flora and Flipp, or bring your own ideas to the table!"

CLICK HERE to read more detailed information on this 1372 sq ft two story building located on a 2323 sq ft lot right smack dab in the middle of guest house row in Old Town Key West. Located on just this block are Equator Resort, Oasis Guest House, Curry House, Coconut Grove Guest House, and Coral Tree Inn. CLICK HERE to read about why one writer calls this block "the gayest street America". I've stayed in the guest houses there. And there are numerous other guest houses within a three block radius. Before moving to Key West I stayed at the Oasis several times and remember going to the deli to buy sandwiches so I could run back to the pool and get my take-home tan.

I am a firm believer in the theory of relativity when it comes to the denizens of guest house row: the place relatively close to the guest house is more likely to get their business than the place further away. Why walk a mile when you can walk a block and get exactly what you want. There is a captive audience in that location.

If you are thinking of running away to Paradise and want to look for a place to live and or work, please think of using me as your Realtor. I am a full time Realtor at Preferred Properties Coastal Realty Inc. I left reality 15 years ago, moved to Key West, and I have never regretted it. Please call me, Gary Thomas, 305.766.2642, or e-mail me at kw1101v@aol.com You, too, can tell your friends "I used to be...."

537 Caroline Street Old Town Key West

Just Listed (but not by me) 537 Caroline Street Key West, Florida. Those in the know recall this prime location as the former Banana's Foster Guesthouse.

This is how the listing Realtor describes this property: "Built in 1888 by William Curry...A rare combination of a Classic two-story conch with five transient licenses plus 1 licensed Manager's unit located on a prime Old Town corner. Built as a single family home & later converted to a guest house this property features an impressive 8 bedrooms, 7 1/2 bathrooms in two structures with a small dip pool and 4 off street parking spots, just waiting for you to restore to its' original grandeur. Fantastic architectural details including double porches, high ceilings, hardwood floors & heavy moldings. Truly in the heart of it all just 1 block off Duval Street. Tenant occupied, needs 24 hour notice. Formerly known as Bananas Foster's guesthouse and is currently being used as a Single Family home." CLICK HERE for additional information and photos of the property.

I have mentioned before that I used to own a guest house in Key West (Eaton Lodge at 511 Eaton Street). I learned very early that having a great location was critical to staying busy during down times for town. Many tourists drive to Key West without room reservations. Some opt for a motel on the Boulevard but most head towards Old Town to find a nice room at a cute little inn. This particular property is located one block off Duval at the corner of Simonton and Caroline Streets. The famous Curry Mansion is at the opposite end of the street and the equally famous Cypress House is just across the street on the east corner. Both Caroline and Simonton are feeder streets that tourists use to move about Old Town. So the location is superb for many reasons. Most of the neighboring homes are mansions or at least close to it!

The former owner that operated the property as a guest house had a great sense of style and decorated the rooms with pizazz. (The pics in the listing look like he took much of his furniture and antiques when he sold the property). As the listing Realtor points out the property has 8 bedrooms, 7 1/2 bathrooms, and only 5 transient licenses plus a "manager's license". That means any bank will only consider the number of licensed rooms to evaluate any loan to purchase the property.

When I bought Eaton Lodge in 1993 it had been foreclosed by the SBA and shut down for two years. The business went away. But as soon as I opened the doors in early 1994 former guests and tourists new to Key West immediately became heads in beds. I think any new owner of the Banana's Foster property will not have any difficulty getting the property up and running. If a buyer purchased and closed this property before the end of December, he or she would have time to redecorate the rooms and paint the exterior (it's looking a little sad!). But come the day after Christmas, the rooms at the inn should be filled until Easter. That is what a great location offers: opportunity to stay full and make money.

The property has four off street parking spaces and there is nearby paid parking within 150 feet. So tourists who drive to Key West will not experience separation anxiety about being too far from their cars.

This property is listed at $1,900,000. There are other guest houses for sale in Key West. CLICK HERE to see all of those listed for sale at this time. I have said before that people who have property listed for sale right now want to sell. One of the properties shown in the link is a short sale. There may be a bargain in your future. Please call me, Gary Thomas, 305-766-2642 or e-mail me at kw1101v@aol.com for more information on any of the guest houses listed for sale.