Have an investment opportunity of a SFH. One family member is moving to nursing home. The house condition was poor, bad enough need criminal scene cleanup crew. Out of state investing. Never done before. Have 3 in state rental, managed by self. low maintenance so far.
Want to know local market situation from some knowledgably folks.
Rental Property Investor · Fernandina Beach, FL · Member since 2019 · 25 posts · 18 votes
5y
I currently live here in Fernandina Beach I have a duplex near the beach and a sfh near the historic district. I have not had an issue with getting any renters into my units (but it is a 3min walk to the beach). I also have other properties further away and out of state, I self manage all my properties. The rental market is good here in most all places on Amelia Island. I would have to kinda know were in Fernandina your property is to let you know more about it but there isnt really a bad part (not alot of crime), but there is a bunch that is considered not good for investing.
Rental Property Investor · Fernandina Beach, FL · Member since 2019 · 25 posts · 18 votes
5y
I currently live here in Fernandina Beach I have a duplex near the beach and a sfh near the historic district. I have not had an issue with getting any renters into my units (but it is a 3min walk to the beach). I also have other properties further away and out of state, I self manage all my properties. The rental market is good here in most all places on Amelia Island. I would have to kinda know were in Fernandina your property is to let you know more about it but there isnt really a bad part (not alot of crime), but there is a bunch that is considered not good for investing.
It is on Philips Manor Rd, a bit far from beach. I think Airbnb is not an option, just long term rental. Do not know if this area is popular with people with work or retiremnet.
Investor · Fernandina Beach, FL · Member since 2014 · 557 posts · 374 votes
5y
Hi Grace, That's a great area. It would be very hard to go wrong there. Actually, anywhere on the island would be hard to screw up right now.
The only problem will be securing contractors. The building and remodeling going on here is off the charts. It makes it tough to almost impossible find decent labor if you don't have relationships.
I don't want to discourage you because if you can put together a team you can trust you will do great.
Let me know if I can be of any further assistance.
Rental Property Investor · Ocala, FL · Member since 2018 · 48 posts · 35 votes
5y
Does anyone who invests in Fernandina beach have a metric they use for evaluating short term rentals? For instance, a 2/2 near the beach should average X amount per year or a property that cost Y should bring in a % of Y per month? I have a LTRs and a STR in other markets and but I do not know this area very well. Looking to connect with someone more familiar. Thanks