Florida Vacation Rental Market Opportunites ?
Hello everyone,
I’m currently looking home to purchase in the next year or so somewhere in South Florida (considering both east and west coast) as a second part time home as well as a vacation rental to cover the holding costs when I am not there. My question is, does anyone see any future buying opportunities in particular markets that may be heavily affected post COVID 19 pandemic? My initial prediction was markets that were oversaturated with newbie Airbnb investors who were attracted to the increased monthly cash flow will eventually become forced sellers, ultimately deflating single family home prices.
I’m looking in the 1-1.25 million dollar range with a minimum of 4 bedrooms. I know that in certain markets that is considered a lot and others, not so much. Areas that I had my eye on were Sarasota, Key West, St. Petersburg and SE Florida.
Any input would be greatly appreciated!