Ft. Myers - Pink Shell Resort Condos - Good for STR?

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Ft. Myers - Pink Shell Resort Condos - Good for STR?

Owen DashnerPro Member
Lender · Omaha, NE · Member since 2008 · 1k+ posts · 1k+ votes

Hello all, I am going to be taking a vacation soon and staying in Fort Myers at the Pink Shell resort in one of their condos.  I am going to check out a few as possible short term rental investments/family getaway spots.

Any locals have any input on Pink Shell or other possible beachfront STR properties that are good investments?

Also, any referrals to good local investor/Realtors would be great.


Thanks!

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Michael King
Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
5y

@Stetson Miller Good points on work and usage. I didn't mean to sound like a Debbie downer (sorry to all the Debbies). From my point of view on the property I mentioned (which no doubt has completely different financials), the cash flow would be there so long as the tenants were there based on high occupancy rates. 

That doesn't mean to say I would not be open to other properties with better financials; my example wasn't a good fit for me.

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  • Michael King
    Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
    5y

    I don't know those condos, but was considering a condo on Ana Maria Island a few months ago. It was in a complex of around 16 units and the company that manages it was on site. They gave me all the data on the rentals they manage for their owners (all the units), and in all the fees were around 15%. I walked away from this investment as soon as I understood that the management company was making more than the owners. 

    It was more of a 'let's buy a vacation condo on the beach and get some STR tenants in to help offset the cost' type of deal. If you could guarantee it was booked up year round, it would be a reasonable investment.

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  • Stetson MillerBusiness Member
    Real Estate Broker · Fort Myers, FL · Member since 2019 · 576 posts · 423 votes
    5y

    @Owen Dashner The Pink Shell is definitely going to be one of the largest resorts on Fort Myers Beach, and one of the nicest as well! As stated previously by @Michael King, with all of these resorts with integrated property management, they're not going to be killer deals as can be achieved by running your own STR. However, the work will be significantly less, and you're still able to use the property as allowable per the agreement in place with the association. Let me know if you have any other questions regarding the area in general or specific units there, I would be happy to help!

    [email protected]850-259-2910
    Stetson Miller Realtor545 Reviews
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  • Michael King
    Rental Property Investor · Navarre, FL · Member since 2019 · 913 posts · 640 votes
    5y

    @Stetson Miller Good points on work and usage. I didn't mean to sound like a Debbie downer (sorry to all the Debbies). From my point of view on the property I mentioned (which no doubt has completely different financials), the cash flow would be there so long as the tenants were there based on high occupancy rates. 

    That doesn't mean to say I would not be open to other properties with better financials; my example wasn't a good fit for me.

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