All Forum Posts by: Chris Mury

Morning Aristotle!

A few questions:

-Are you able to share the address (either publicly or via DM)?

-Are you the owner or broker?

Chris

 Sounds like a great way to get started, Seth! We got our start with a 3-unit house hack in Downtown Saint Augustine just off King Street. Happy to share what we learned along the way. Good luck!

 Morning! Please message me with the details.

 Hi Richa,

Is your existing property inside or outside of St. Augustine city limits? Do you build it with the intention of renting it or just for family/friend use?

Nice one! Plan to do more? How long to lease up and how has occupancy been?

I can't speak for other areas in Florida, but here in St. Augustine most oceanfront condo complexes do allow some form of STR. Here (and I'm assuming in most places), the condo association governs STR restrictions, not the local/county governments. You'll often see variations in minimum night stays, use of 3rd party management companies, and general attitude toward STRs. These condo complexes have been used as STRs since inception so there's little to no chance of that ever changing in the future making this a safe investment in terms of changing regulations. Best of luck with your search!

 Agreed. We’ve found that our St. Augustine guests have been mostly families and couples on vacation. Not really a “party” town. 

 A Property Manager

To anyone reading, please note that this only applies to properties within City of St. Augustine limits (a smaller subsection of the greater St. Augustine area).

Hey Robert,

I’ve used Claudia Kiernan at IPX1031 for a previous 1031 exchange. I’ve referred her to my customers as well and have had good experiences. Her office is in St. Augustine. (904) 417-9093. Best of luck. 

Chris