BEST EAST COAST FLORIDA STR REGION

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BEST EAST COAST FLORIDA STR REGION

Pearce Trenary
Member since 2021 · 28 posts · 12 votes

Hey everyone,

I am buying an STR and want to target the east coast of Florida. My research shows many promising areas but many of these spots have ever-changing STR laws which I am not a fan of. Would love to hear your feedback of where you think is the best STR region for long-term sustainability and high COC return (with my budget in mind). I live in Orlando but do not want an STR here as I do not want a Disney house and having a house near the beach is appealing to me. 

Budget: around 400-650k and my only concern is COC Return

Regions in consideration: St. Aug, Jacksonville Beach, West Palm, Pompano Beach, and PCB (i know PCB is not on the east coast but in consideration, i don't personally love the area)

Cheers, 

Pearce

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C.J. Mealer
Property Manager · Jacksonville Beach, FL · Member since 2022 · 2 posts · 5 votes
4y

Hi Pearce, my fiancée Coco and I own 5 Airbnb units in Jax Beach and run a STR Management Company helping 6 other Airbnb owners. We set up business models for our own Airbnbs and use that to help our clients. They are all very profitable and completely passive (when using the right management). Feel free to reach out to us to chat about your goals.

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  • Nick Velez
    Lender · Member since 2019 · 250 posts · 219 votes
    4y

    @Pearce Trenary

    Hey Pearce, for all it is worth, I had a client doing 12k a month gross in West palm on a 500k house!

    3Reply
  • Pearce Trenary
    OP
    Member since 2021 · 28 posts · 12 votes
    4y

    @Nick Velez I really like that area but was concerned about laws however that is only because I have not done enough research. 12k gross is incredible

    0Reply
  • Nancy Bender
    Investor · SC · Member since 2020 · 43 posts · 32 votes
    4y

    I’m also curious to know what type of house/location in West Palm can do this.

    1Reply
  • C.J. Mealer
    Property Manager · Jacksonville Beach, FL · Member since 2022 · 2 posts · 5 votes
    4y

    Hi Pearce, my fiancée Coco and I own 5 Airbnb units in Jax Beach and run a STR Management Company helping 6 other Airbnb owners. We set up business models for our own Airbnbs and use that to help our clients. They are all very profitable and completely passive (when using the right management). Feel free to reach out to us to chat about your goals.

    5Reply
  • Edwin Epperson
    Lender · Tampa, FL · Member since 2020 · 202 posts · 116 votes
    4y

    @Pearce Trenary COC is a great reason to approach any buy-and-hold strategy. There are some great DSCR loan products for buy and hold investors, and even some geared towards STR's. I personally broker out funds from investors who have programs for these types of deals, though I use mine and my capital partners' money for short-term, interest-only loans for Fix & Flip or Bridge loans. Happy to have a conversation with you if you would like. Best wishes and much success!

    PS - I invest in FL so I know the FL market pretty well!

    0Reply
  • Ryan MoyerBusiness Member
    Property Manager · Orlando Kissimmee Davenport Salt Lake City, Park City · Member since 2019 · 991 posts · 1k+ votes
    4y
    Quote from @Nick Velez:

    @Pearce Trenary

    Hey Pearce, for all it is worth, I had a client doing 12k a month gross in West palm on a 500k house!


     I bet that house isn't 500k anymore...

    Cosmic Vacations4.9174 Reviews
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    5Reply
  • Nick Florio
    Member since 2021 · 9 posts · 3 votes
    4y

    Just curious why you don't want to look at the Gulf Coast. I have a STR in the Vero Beach area does well but still pails to my STR in Treasure Island. Zoning is always a concern but f you are looking at STR in any market so I tend to invest in areas that have always catered to STR to support the local economy. Good luck with your investment!

    1Reply
  • Nick Florio
    Member since 2021 · 9 posts · 3 votes
    4y
    Quote from @Ryan Moyer:
    Quote from @Nick Velez:

    @Pearce Trenary

    Hey Pearce, for all it is worth, I had a client doing 12k a month gross in West palm on a 500k house!


     I bet that house isn't 500k anymore...


    0Reply
  • Pearce Trenary
    OP
    Member since 2021 · 28 posts · 12 votes
    4y
    Quote from @Nick Florio:

    Just curious why you don't want to look at the Gulf Coast. I have a STR in the Vero Beach area does well but still pails to my STR in Treasure Island. Zoning is always a concern but f you are looking at STR in any market so I tend to invest in areas that have always catered to STR to support the local economy. Good luck with your investment!

     @Nick Florio that is interesting, i thought treasure island and st. pete had some restrictions. Also I could not find anything in my budget. I would be interested in that area. Are the houses comparable at vero and treasure? 

    I looked at the gulf (specifically PCB) however the amount of competition concerns me and it is much further away. 

    0Reply
  • Nick Florio
    Member since 2021 · 9 posts · 3 votes
    4y

    There is specific zoning in St Pete/Clearwater beach area that allows for STR. Typically on the islands and anything west of Gulf Blvd will allow STR by the night. You will pay a premium but it's worth it. St Pete is my strongest performing property right now and it's not even close.

    0Reply
  • Tyler GibsonBusiness Member
    Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
    4y

    I Like Ormond Beach. It is not far from Orlando, St. Augustine, and Daytona. The calmer bike week crowd stays here. There are a few condo buildings that allow less than 7-day rentals but not all of them. I am closing on my first beach STR this week and Hope to get it performing better over the next year. It was already operating as an STR with a manager in place and pays for itself already.

    [email protected]407-590-9858
    GPG Team 596 Reviews
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    3Reply
  • Joel Lazar
    Investor · Kissimmee, FL · Member since 2020 · 120 posts · 35 votes
    4y

    How are you dealing with the County's restriction against short term rentals less than 30 days?

    0Reply
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