All Forum Posts by: Andrew Steffens

I think you are in the right place to research and learn! You have access to years of experience here from people across the spectrum like lenders, property managers, owners, and more.  I will say since you are in the research phase and are lacking capital be wary of promises of arbitrage riches.  The best way to do this is as an investor/owner.  Build your knowledge and your capital and when you're ready, execute!

 Not every local manager is good! But, the general consensus is, every national manager is not good.  Definitely vet them closely!

I think Orlando is likely something similar, unfortunately.  Too many people came in during the gold rush.

Steadily (DM me a link to my team there).  If in FL let me know my wife is an insurance agent is doing great getting lower rates for all of my clients :D

Hi Kristine!

I do not have first hand knowledge of those particular companies but every national company in the STR space has either burned myself, a client of mine, or has burned someone on this very forum. Typically speaking you are best off going local. Find a local designer with STR experience to do the furnishing and design and a local PM who can bring the best to the table. Good luck!

I would speak to experts in the area to try to get your finger on the pulse of the market.  On a 7 figure house everything is magnified, if you win its a big win but if you lose its a big loss.  Make your numbers and triple check and have contingency plans.  Good luck!

A good reason why I like investing in STR's in FL, the state has handcuffed local jurisdictions from passing new laws or amending old ones.

Echoing mostly with what is above - but LLC's are pretty decent are shielding from contract disputes but offer little protection from liability which is likely the motivation behind putting an STR in a LLC. You're best of getting an umbrella insurance policy.

This seems like a post better suited for the LTR forum.  As noted above there are a lot of reasons this could be, but if you are getting little to no interest, I would start by looking if your pricing is in line with the market.

We are in Tampa and have 2 distinct submarkets, Tampa being the urban draw and the Pinellas County Beaches which are primarily family units and the smattering of group trips (bach, golf, fishing, etc).  Our larger properties have done great in that demographic this year, and we are up YoY.  Maybe its something within the college football dynamic.  Is your team struggling this year?  Any political issues plaguing the team/college? Have ticket prices gone up?