Seeking Advice: Investment in Warm Locations with High Rental Potential

Seeking Advice: Investment in Warm Locations with High Rental Potential

Member since 2019 · 11 posts · 5 votes

Hi everyone...I'm exploring real estate investment opportunities in warm locations, particularly for the winter months. I live in Southwestern Connecticut, and am looking for places that are not only ideal for escaping the winter months but also have strong potential for rental income/future resale value of the property. So the goal would be to have it rented during spring, summer, fall..and maybe I'd use it for a month or so during the winter to escape the northeast. Also it would have to be a location that's within a reasonable flight distance from JFK or LaGuardia airports. I have some rental experience with the 2 family home I own. I live in one unit, rent out the other unit, and rent out the detached garage for storage. 

Here are my key criteria:

  • Warmer climate/More daylight time than Connecticut during winter
  • Good potential for rental income and property appreciation
  • Affordable property prices with a good ROI potential
  • Quick flight from NYC

I've considered cities in Florida, Georgia, and SC. I'm particularly interested in areas that haven't yet experienced a real estate boom but are on the cusp of growth.

Additionally, I'm looking at options for managing these properties. I'd be fine with doing it myself, but I'm not sure an airbnb setup would be good because of people constantly coming in and out, and risk of it being vacant. I also looked at platforms like Mashvisor for finding and analyzing potential properties but would love to hear if anyone has experience with these or other tools.

I would greatly appreciate any insights, experiences, or advice you can share, especially:

  • Recommendations on specific cities or neighborhoods that meet these criteria
  • Tips on managing properties remotely
  • Thoughts on using platforms like Mashvisor for property analysis
  • If this idea would make sense to do

Thank you in advance for your help!

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Realtor · Greater Tampa Bay · Member since 2014 · 219 posts · 130 votes
2y

Florida (Because that's my market)

- Lakeland

- Brooksville

- Sarasota

- Plant City

All of these have decent markets already, but haven't gotten to the size of Orlando or Tampa.  They're all within quick commutes of these larger metros and offer value in a multitude of ways for renters and investors.

See this reply in the discussion

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  • Real Estate Consultant · Roswell, GA · Member since 2023 · 50 posts · 26 votes
    2y

    @Steve T.

    Georgia is a very good option and it is very landlord friendly. I have a deep knowledge of the Atlanta MSA and Savannah areas. I have a property cash flow analysis I use to determine a range of factors. I also can provide context of what characteristics each area has. I'd be open to a conversation soon and I could guide you through some of the unique things you are looking for in a rental. Please send me a direct message. 

    Mark Faulkner

  • Realtor · Greater Tampa Bay · Member since 2014 · 219 posts · 130 votes
    2y

    Florida (Because that's my market)

    - Lakeland

    - Brooksville

    - Sarasota

    - Plant City

    All of these have decent markets already, but haven't gotten to the size of Orlando or Tampa.  They're all within quick commutes of these larger metros and offer value in a multitude of ways for renters and investors.

  • Realtor · Atlanta, GA · Member since 2021 · 239 posts · 120 votes
    2y

    @Steve T.

    As a native of New Jersey currently residing in Georgia, I highly recommend considering Georgia. It's just a short flight away from both JFK and LaGuardia airports. Cities like Atlanta and Savannah, stand out for their stable market growth, making it an ideal option for the goals you mentioned.

    Below, I've listed a few cities in Georgia that align with your criteria. These areas have considerably warmer climates than Connecticut during the winter, coupled with stable economies and strong rental potential. 

      1. Savannah 

      2. Tybee Island

      3. Jekyl Island

      4. Blue Ridge

      5. Atlanta

      Feel free to DM me for further discussion with the additional questions you have! 

  • Investor · CT · Member since 2017 · 165 posts · 75 votes
    2y

    Subscribing Steve because I also need to get out of CT to warmer weather!

    A great thing about rentals in warmer locations is the tax write off abilities.  If you pre-plan it right and make 50% of it business related, you can write the trip off as a business trip.  So if you rather stay at the Ritz Carlton on the beach rather than your rental, you can.

  • Investor · CT · Member since 2017 · 165 posts · 75 votes
    2y
    Quote from @Lateefah Mathews:

    @Steve T.

    As a native of New Jersey currently residing in Georgia, I highly recommend considering Georgia. It's just a short flight away from both JFK and LaGuardia airports. Cities like Atlanta and Savannah, stand out for their stable market growth, making it an ideal option for the goals you mentioned.

    Below, I've listed a few cities in Georgia that align with your criteria. These areas have considerably warmer climates than Connecticut during the winter, coupled with stable economies and strong rental potential. 

      1. Savannah 

      2. Tybee Island

      3. Jekyl Island

      4. Blue Ridge

      5. Atlanta

      Feel free to DM me for further discussion with the additional questions you have! 


     Blue Ridge looks attractive based off my search and pricing there.  What types of rentals do you suggest there?  What are some attractors that may increase the market there over time? 

  • Realtor · Atlanta, GA · Member since 2021 · 239 posts · 120 votes
    2y

    Hey @MarioBellavia! Blue Ridge is such a definite gem. Blue Ridge is in the North Georgia Mountain region, it's got adorable cabins and roomy vacation homes, perfect for a mountain getaway. If you're thinking about renting out when you're not around, I'd advise using a short-term rental strategy, the numbers are strong and it's a lucrative market.

    The attractions there range from zip-lining, white-water rafting, and wineries, there's even more to discover, which is what's driving more traffic to the area and it has truly become a great destination spot. Definitely, worth looking further into for investment purposes.

  • Jerry W.Pro Member
    Moderator
    Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
    2y

    @Steve T., thanks for starting this thread. We had a week of 12 to 29 degrees below zero. I am ready to look for a STR out of state in a warmer area. I have been looking at the Blue Ridge area for awhile. Maybe I need to ramp that up.

  • Member since 2024 · 1 post · 0 votes
    2y

    I am in Florida now and I've been here for the last 12 years since I retired in New York City. 

    I am likewise wanting to find similar real estate opportunities but in the southeast Asia area.

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