Sarasota Area Buy and Hold
Hello BPers. Very new to BP. So I figured I would open a discussion to see where it goes. I live in the Northeast, but have been spending some time down in the Sarasota/Bradenton, FL area the past few years due to snowbird parents. There is a huge building boom and commercial expansion there in Sarasota - shopping malls, hotels, franchise restaurants, housing complexes, etc., etc. Every person I spoke to that has lived there for 20 years or more says they want to move because of the influx of people! I was amazed at what folks were paying for winter rents.
I am doing my own research, but interested to hear about others' experience with "boots on the ground knowledge" on topics like stability of rent prices, where they see the long term trends. I am strongly considering putting a focus on small multi-family (roughly 2-5 unit) properties in this area over the next several months. Specifically looking at year round rentals of the B class variety, not snowbird or high end rentals.
Feel free to contact me directly if you would like to kick around ideas.
Thank you in advance for anything you may share.