Best Florida beach spot to at least break even with STR
Hi everyone,
What is the best beach area of Florida to invest in a STR? I currently live in Maine and have a couple of rentals here that do well, but I'd like to have a place that I can go to in Florida once or twice a year with the family. Originally I wanted to invest in Sarasota (it's where we typically go to vacation and I love the area), but the restrictions were intense and I know that the same goes for a lot of the Florida beach areas. What are the areas where I could buy a SF or multi and at least break even if not generate a little cash flow?
Thanks!
Most Popular Reply
@Heather S. I am super partial, lol, but I believe that Fort Walton Beach/Okaloosa Island on the Gulf Coast of Florida is your best deal. I live here, own properties here, manage vacation rentals here and sell real estate here. So, yes, I am not a very neutral adviser. So.... check in out on the internet, on Airbnb, on VRBO, etc and see the demand is there. STRs/Vacation rentals are a key business here. Also, the Panhandle is a "driving" beach destination for families from the southern and central states. That is key, because a lot of families cannot afford to vacation to places where they have to buy plane tickets for the whole family.
I would also look into Navarre Beach, Gulf Breeze, Pensacola Beach and Panama City Beach. Destin is great and in the middle of all of these, but properties in Destin proper are somewhat overpriced vs income potential (my personal opinion). I would suggest you take a brief vacation visit here and see for yourself. Make sure to rent the kind of place you would be interested in buying to give you a feel of the overall experience from the point of view of guests.
If you have any questions, feel free to message me.