Realtor · OK · Member since 2020 · 138 posts · 165 votes
When making a decision on what type of property to invest in for short term rentals in beach front locations like Destin/Panama City Beach, do you think single family attached/detached are better than condos?
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
4y
Hey @Kevin Pillow I'm not invested in that area so I can't speak to too much detail but my first instinct is to say "yes" simply because if you are buying a condo, there is the variable of the condo association, and even if they currently allow STR's, it does not guarantee that they will continue to allow it. But on the other hand I'd say the benefit of a condo is that some maintenance is handled already through your condo fees. I realize I didn't really give you a straight answer but hopefully it at least sparks some thoughts for you.
Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
4y
@Kevin Pillow
Single family. More space, privacy and more control. Don't buy in an HOA, one day they can change the rules and not allow STRs in their community. That includes single family houses in a HOA community too.
Realtor · OK · Member since 2020 · 138 posts · 165 votes
4y
@John Underwood I think those are all huge benefits plus it's a bit easier on financing with 2nd home loans since we don't have to worry about warrantable guidelines. The major hurdle is finding a home in STR Zoned area within a price range most first time investors can afford. Then the condo route becomes more feasible.