We are looking to purchase an investment property in the Clearwater Beach/Madeira Beach area in Florida. Our goal is to find a condo that mostly will pay for itself and still allow our family to use it once or twice a year. We're looking at condos on or near the beach. We plan on financing it but have heard many lenders are picky about short term rentals. We own a number of rentals already so we aren't new to the investment world but new to the short term rental world. If anyone has any suggestions I'm open feedback.
It can definitely be done. Shoot me a PM and I’ll see what I can do
Hi Leah, I'm a local in that area and would be happy to direct you to some of the condo buildings that allow for short term rentals. Send me a PM so I can get some more information on your price point & what type of property will meet your vacation needs. It is possible to find a property that will pay for itself and provide a good return.
Do a ton of research through VRBO, Air BnB etc. Check every month of the year on calendars and occupancy rates. I would also subscribe to airdna.co for accurate rental numbers.
This may offend people but I never trust what a realtor tells me. They often have inaccurate information and once they sell something they are gone. I have been doing this almost 20 years and this has always been the case. Good luck!
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