Clearwater beach/Siesta Key - can you break even or make money?

Clearwater beach/Siesta Key - can you break even or make money?

Realtor · Fort Collins, CO · Member since 2016 · 8 posts · 0 votes

Hello - I am reaching out for friends who are considering buying a second home in either the clearwater beach/ Siesta Key area. Initially they would rent it out as a STR, and then when they are empty nesters - they would be able to stay more ofter. Any advice? Also is it a sellers market? Have there been any/many foreclosures lately?

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  • Rental Property Investor · Clearwater, FL · Member since 2013 · 151 posts · 41 votes
    5y

    Only very few houses in Clearwater are grandfathered in and can be rented as STR.

  • Realtor · Fort Collins, CO · Member since 2016 · 8 posts · 0 votes
    5y

    @Stephan K.- Thank you. Good to know. Is it the same for condos? I have a STR condo in Maui. On Maui the rules are different for condos than they are for Single family detached homes. Detached homes have to renew their STR permit every two years.

  • Rental Property Investor · Clearwater, FL · Member since 2013 · 151 posts · 41 votes
    5y

    No difference.

  • Realtor · Fort Collins, CO · Member since 2016 · 8 posts · 0 votes
    5y

    Thank you

  • Real Estate Agent · orlando, FL · Member since 2009 · 159 posts · 121 votes
    5y

    I would recommend Indian rocks Beach. They are str friendly. siesta Key only allowed it in a small area right on the tip of the key. You can make money in both locations. 

  • Realtor · Fort Collins, CO · Member since 2016 · 8 posts · 0 votes
    5y

    @Mike Shulman. Excellent! Thank you so much!

  • Real Estate Agent · orlando, FL · Member since 2009 · 159 posts · 121 votes
    5y

    I know some good agents out that way if you'd like me to connect you.

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