STR current home or buy one?

[Jarod Rotolo]

Hey everyone, I've recently been able to position myself to consider getting into STRs.

The decision I'm trying to make is, do I:

A) update, furnish, and STR my current home on the panhandle within 10 mins of Pensacola and Navarre beaches, thinking it will cost 20k to update.

OR,

B) start analyzing properties in various markets to purchase a property for STR?

Not sure what the right choice is, how would you make the determination?

Thanks

[John Underwood]

Run the numbers on your current house and see if it would make a good candidate. This is the easiest path to a STR. Then it is much easier to qualify for another owner occupant house to move to.

If the numbers don't work, don't force it.