Anyone else in Pinellas County, Fl?

Question

Curious how the STR in Pinellas are doing? Looking to possibly add a condo near the water in St Pete. Seems most have 30 day minimums though.

EDIT: Found a topic from a few months ago that answers my question, but if any realtors in the area have insight into 500k or less properties that are STR viable, please send me a message.

Nick Velez · Answer

@Ryan F.

I would highly recommend @Josh Green. He has assisted a plethora of my clients in Pinellas county.

Blake Novotney · Answer

I saw a couple good ones ~10 minutes or less from downtown in the $300's last week, NE St Pete is great. I'd try to connect with some local wholesalers too that way you could find something that needs work and have equity also.

Andrew Steffens · Answer

Hey Ryan! A new client of mine just got a 4/2 pool house in Pinellas Park that needs about $30k in cosmetics for $385k and income projections between 70-80k.  STR's in Pinellas have declined in 2023 from 2020-2022 due to the COVID boom the area experienced.  The market here is still strong and there are still great opportunities.  I own a PM company with 80+ units as well as am a licensed broker working exclusively with STR investors.  Let me know if I can be of any assistance!

Jason Wray · Answer

@Ryan F.

Ryan,  I am here in Pinellas County, FL and I am very familiar with this market.  Send me an email would love to chat.

Michael Baum · Answer

Others on the forum have been getting quotes from Kin as well as Proper. Crazy times for insurance down there.

Another knowledgeable person posted that rates were on track for reduction after July. Must be time passed since the last major hurricane.

Blake Novotney · Answer

I wouldn't discount the idea of MTR or even student housing if you can find it close to USF downtown. It really will open up your options due to the restrictions there. I used to live there and it's incredible!

Jon Martin · Answer

Can anyone comment on what wind coverage is costing new purchases as of late, maybe not beachfront but 1-3ish miles inland? The agent at Proper told me that policies in the Stuart area for a 2-3 bedroom were pushing $800-1200/month.

Andrew Steffens · Answer

@Ryan F.

It’s improving! It provides good value for the guest for a pool home at $300 a night ADR and it provides good value for the owner with lower purchase price lower taxes and insurance. Also good appreciation play as the area continues to approve.

Anyone else in Pinellas County, Fl?

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