STR and MTR in Gainesville GA and/or Augusta GA

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STR and MTR in Gainesville GA and/or Augusta GA

Josh FrittsPro Member
Investor · Member since 2022 · 9 posts · 3 votes

I'm looking to potentially purchase an MTR/STR in either Gainesville GA or Augusta GA (or both). Would love some insight from anyone that has a working MTR/STR in these areas.

Thanks in advance!

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Josh GreenBusiness Member
Realtor · Tampa/St Pete/Clearwater/Bradenton · Member since 2020 · 396 posts · 353 votes
3y

@Josh Fritts

@Nick Velez is a lender and investor in Gainesville that could definitely help!

[email protected]801-441-8891
Impact Realty Tampa Bay.4.962 Reviews
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Suncoast Vacation Homes4.959 Reviews
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  • Lyndsay Zwirlein
    Lender · Member since 2020 · 331 posts · 209 votes
    3y
    Quote from @Josh Fritts:

    I'm looking to potentially purchase an MTR/STR in either Gainesville GA or Augusta GA (or both). Would love some insight from anyone that has a working MTR/STR in these areas.

    Thanks in advance!


    Following! I looked into this a couple months ago for a 1031 and didn't find anything in the timeframe we had. Very interested in the market though for MTR/STR

    0Reply
  • Josh GreenBusiness Member
    Realtor · Tampa/St Pete/Clearwater/Bradenton · Member since 2020 · 396 posts · 353 votes
    3y

    @Josh Fritts

    @Nick Velez is a lender and investor in Gainesville that could definitely help!

    [email protected]801-441-8891
    Impact Realty Tampa Bay.4.962 Reviews
    WebsiteView Page
    Suncoast Vacation Homes4.959 Reviews
    View Page
    1Reply
  • Josh FrittsPro Member
    OP
    Investor · Member since 2022 · 9 posts · 3 votes
    3y

    I see you're in FL. Is he in Gainesville FL? 


    I'm looking at Gainesville Georgia. 

    0Reply
  • Niraj S.Pro Member
    Real Estate Agent · Cumming, GA · Member since 2016 · 74 posts · 10 votes
    3y
    Quote from @Josh Fritts:

    I'm looking to potentially purchase an MTR/STR in either Gainesville GA or Augusta GA (or both). Would love some insight from anyone that has a working MTR/STR in these areas.

    Thanks in advance!


     I am in the same exact situation as yours. Have you been able to make any progress? If yes I would love to learn which way you chose. Thanks in advance!

    0Reply
  • Josh FrittsPro Member
    OP
    Investor · Member since 2022 · 9 posts · 3 votes
    3y
    Quote from @Niraj S.:
    Quote from @Josh Fritts:

    I'm looking to potentially purchase an MTR/STR in either Gainesville GA or Augusta GA (or both). Would love some insight from anyone that has a working MTR/STR in these areas.

    Thanks in advance!


     I am in the same exact situation as yours. Have you been able to make any progress? If yes I would love to learn which way you chose. Thanks in advance!


    I ended up switching my focus to Ellijay and found a place there i'm rehabbing for STR. I still have open searches in both areas, just haven't landed on a deal yet. I'll keep you posted if/when I do. Keep me posted on your search as well.

    0Reply
  • Chris Momongan
    Rental Property Investor · North Augusta, SC · Member since 2020 · 51 posts · 22 votes
    3y

    I just did my first purchase in October. My rental went live just in time for Masters, which for that one week covered 3 months of operating expenses. I started initially as a long term strategy, but quickly realized mid-term is the way to go down here. I cash flow about 600/month and 10% COC but one thing I wish I did was tailor my purchase more towards the midterm demographic, which is travel nurses. Wish I picked a house which wasn't near a busy street since it's noisy and nurses like their sleep after shifts.

    0Reply
  • Chris Momongan
    Rental Property Investor · North Augusta, SC · Member since 2020 · 51 posts · 22 votes
    3y

    Oh BTW, I'm in Augusta

    0Reply
  • Niraj S.Pro Member
    Real Estate Agent · Cumming, GA · Member since 2016 · 74 posts · 10 votes
    3y
    Quote from @Chris Momongan:

    Oh BTW, I'm in Augusta

    @Chris Momongan Thanks for your input. Sounds like you are on your way to a success! Do you live in the Augusta area? If yes what part of Augusta do you recommend buying in if I was targeting nurses or doing mid term rentals?

    0Reply
  • Chris Momongan
    Rental Property Investor · North Augusta, SC · Member since 2020 · 51 posts · 22 votes
    3y

    @Niraj S. Just moved down to North Augusta here from Norcross. If your strategy is like mine, I look at MLS maps side by side to Furnish Finder and search for deals around the medical district which is also near the Masters. I personally like National Hills and Summerville/Midtown area. I think Harrisburg has the numbers but when I drive around there I don't feel comfortable quite yet but has the best numbers and potential to appreciate.


    The area I live in is an old neighborhood in North Augusta and the city is putting a lot of money into developing the Riverside Village area along the Savannah River.  It has a long way to go but I feel that is a good area as well so I'd personally look there.

    1Reply
  • Niraj S.Pro Member
    Real Estate Agent · Cumming, GA · Member since 2016 · 74 posts · 10 votes
    3y
    Quote from @Chris Momongan:

    @Niraj S. Just moved down to North Augusta here from Norcross. If your strategy is like mine, I look at MLS maps side by side to Furnish Finder and search for deals around the medical district which is also near the Masters. I personally like National Hills and Summerville/Midtown area. I think Harrisburg has the numbers but when I drive around there I don't feel comfortable quite yet but has the best numbers and potential to appreciate.


    The area I live in is an old neighborhood in North Augusta and the city is putting a lot of money into developing the Riverside Village area along the Savannah River.  It has a long way to go but I feel that is a good area as well so I'd personally look there.


     I guess it makes a difference when you live there from a managing perspective. The area I live in has an amazing hospital but the price points are very high for it to cash flow positively.

    0Reply
  • Mike Anderson
    Rental Property Investor · Clayton, GA · Member since 2020 · 185 posts · 152 votes
    3y
    Have a friend that lives in Gainesville and he is looking at STR's there. His read is the ones that will do well are on the lake and are way to expensive to cash flow now. He can't find anyone that is cash flowing in Gainesville right now unless they bought 4 or 5 plus years ago.
    0Reply
  • Priya Srinivasan
    New to Real Estate · Buford, GA · Member since 2022 · 36 posts · 19 votes
    3y

    I have been researching on Gainesville and Lake Lanier. Only Hall County allowed STR on the Lake, but they also said "there is a moratorium and cannot accept any STR applications till June 10th for any property in a subdivision", when I called the county office. So I have put my search on hold to see what happens after June 10th.

    0Reply
  • Janiece DeFreitas
    Rental Property Investor · Member since 2023 · 29 posts · 6 votes
    3y
    Quote from @Chris Momongan:

    I just did my first purchase in October. My rental went live just in time for Masters, which for that one week covered 3 months of operating expenses. I started initially as a long term strategy, but quickly realized mid-term is the way to go down here. I cash flow about 600/month and 10% COC but one thing I wish I did was tailor my purchase more towards the midterm demographic, which is travel nurses. Wish I picked a house which wasn't near a busy street since it's noisy and nurses like their sleep after shifts.

    Hi Chris!   We’re looking in the Augusta area as well for STR/MTR. Would you mind expounding on how many bedrooms your place was that rented for the masters? I know most homes prove to be very lucrative during masters week but clearly we need to be cash flowing monthly and not just banking on 1 big return. Your numbers listed above sound good. What demographic of people do you tend to see traveling to Augusta outside of Masters week? Also I know you stated you wished you had a home that targeted nurses more, but haven’t you found that larger homes do better during masters week but that nurses prefer smaller 1-2 bedrooms, thus requiring two different sized homes to target two different demographics? I’d love to connect further as we get closer to pulling the trigger on a purchase!
    0Reply
  • Chris Momongan
    Rental Property Investor · North Augusta, SC · Member since 2020 · 51 posts · 22 votes
    3y
    Quote from @Janiece DeFreitas:
    Quote from @Chris Momongan:

    I just did my first purchase in October. My rental went live just in time for Masters, which for that one week covered 3 months of operating expenses. I started initially as a long term strategy, but quickly realized mid-term is the way to go down here. I cash flow about 600/month and 10% COC but one thing I wish I did was tailor my purchase more towards the midterm demographic, which is travel nurses. Wish I picked a house which wasn't near a busy street since it's noisy and nurses like their sleep after shifts.

    Hi Chris!   We’re looking in the Augusta area as well for STR/MTR. Would you mind expounding on how many bedrooms your place was that rented for the masters? I know most homes prove to be very lucrative during masters week but clearly we need to be cash flowing monthly and not just banking on 1 big return. Your numbers listed above sound good. What demographic of people do you tend to see traveling to Augusta outside of Masters week? Also I know you stated you wished you had a home that targeted nurses more, but haven’t you found that larger homes do better during masters week but that nurses prefer smaller 1-2 bedrooms, thus requiring two different sized homes to target two different demographics? I’d love to connect further as we get closer to pulling the trigger on a purchase!

    I have a 2 bedroom/1 bath that is equal distance to Medical district and Fort Gordon. I did a BRRRR and just finished the refinance and still cash flowing around 450/mo. The demographic of people we're targeting are medical and military professionals for our medium term rental. We are concentrating on MTR and plan to do STR in between MTR turnover and during Masters Week. We plan to focus on buying smaller 2-3 bedroom houses near the medical district with Masters Week being a bonus and not our main focus. My main goal is to scale with doing BRRRR and finding moderate-good cash flow. If you have any questions, you can DM me with any specifics. I'm currently looking for something right now in July and there isn't much right now that fit my strategy.

    1Reply
  • Hong Zhu
    Rental Property Investor · Member since 2021 · 12 posts · 4 votes
    2y
    Quote from @Chris Momongan:

    I just did my first purchase in October. My rental went live just in time for Masters, which for that one week covered 3 months of operating expenses. I started initially as a long term strategy, but quickly realized mid-term is the way to go down here. I cash flow about 600/month and 10% COC but one thing I wish I did was tailor my purchase more towards the midterm demographic, which is travel nurses. Wish I picked a house which wasn't near a busy street since it's noisy and nurses like their sleep after shifts.

    That is awesome! Can you share the zip code of your purchase?


    0Reply
  • Chris Momongan
    Rental Property Investor · North Augusta, SC · Member since 2020 · 51 posts · 22 votes
    2y
    Quote from @Hong Zhu:
    Quote from @Chris Momongan:

    I just did my first purchase in October. My rental went live just in time for Masters, which for that one week covered 3 months of operating expenses. I started initially as a long term strategy, but quickly realized mid-term is the way to go down here. I cash flow about 600/month and 10% COC but one thing I wish I did was tailor my purchase more towards the midterm demographic, which is travel nurses. Wish I picked a house which wasn't near a busy street since it's noisy and nurses like their sleep after shifts.

    That is awesome! Can you share the zip code of your purchase?



     30909.  Also just purchased one in 30904

    0Reply
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