New to Real Estate · Member since 2020 · 3 posts · 0 votes
Hello BP Community,
In 2020 I put an "In-law suite" in the south shore of MA up for STR on Airbnb and have had success over the past year. We have family down in South Florida (Hobe Sound and Stuart) and are thinking about purchasing a new property in this location for STR on airbnb/VBRO and occasionally using it when we visit family. We're also anticipating the home values to appreciate in this area over the next 5 years. I was wondering if anyone has experience with STR in this location? Any advice, cautions, pros/cons, etc. would be greatly appreciated.
Rental Property Investor · Boca Raton, FL · Member since 2014 · 104 posts · 55 votes
5y
Hey Nick, I have units in Palm Beach and Broward are we are seeing great occupancy and night rates as of lately. I would suggest looking into https://www.airdna.co/ for the data of that specific market but I would assume what's happening down here is some what applicable up there as well. I would say 3 bedroom 2 bathroom house with pool is going to be the sweet spot for you with the goal to host 6-8 guest. When it comes to advise on do and don't just make sure you are clear on city regulations and I would advise staying away from HOA communities as they will most likely limit your ability to do STR and even if they don't now that could always be a vote away from happening. Hopefully that helps.
New to Real Estate · Member since 2020 · 3 posts · 0 votes
5y
Thank you @Emanuele Pani! Really appreciate your feedback. I've considered subscribing to airdna but have heard mixed reviews about the accuracy of their data. It sounds like it might be worth the investment though.