All Forum Posts by: Chris Mury

Hello,

I’m 24yrs old with no assets living at home after graduating from college in 2024, currently making $114k/yr at my full time job. 

My brother is still in college with no income but together we have a combined savings of $150k and would like to put it towards an investment property

We've been wanting to enter the STR market for about a year now, but have struggled finding the right market. Our goal is to scale a business and roll our profits and personal income into the next asset, into the next, into the next, etc……

The St. Augustine FL STR market was being whispered in our ears with inflated revenue potential. Having taken a trip down there and doing our own due diligence, we now realize this. Within this market, heightened home values and moderate revenues, coupled with high interest rates, it's very difficult to find anything that cashflows.

Our parents operate an STR in Maine, not as a profitable business, but as a way to offset expenses on an appreciating vacation home. We are familiar with the space, just not sure where to look for a less seasonal market that accommodates our price range.

We were approved for various financing options in the St. Augustine area…

- 10% down 2nd home up to $500k

-10% down 2nd home up to $675k (with a cosign)

- 20% down conventional up to $650k (could increase with a cosign)

-Various DSCR programs with a $150k max cost to close

In our opinion, our best path is to put as little down as possible to preserve capital incase of property emergency and to move faster towards our next property. 

Hoping someone can offer advice and help point us in the right direction in this 2025 market. Maybe STR isn't the answer for us to build passive income right now, but I don't see single family long term providing the cashflow we're looking for.

Thanks

Hello everyone!

My name is Seth, and I decided to join the BiggerPockets forum this year as I am looking to purchase a single-family home to house hack later this year. I am currently in Jacksonville, FL, but my preference is for downtown St. Augustine (mainly King St or surrounding blocks, if you're familiar with the area), or Jax Beach / Atlantic Beach area. I am also open to considering opportunities in the Riverside / Five Points neighborhood, or San Marco, in Jax.

Ideally, I would like to find a livable property with 3+ beds / 2.5+ baths, make use of FHA to purchase, and rent out 2+ rooms while renovating into separate, complete units. However, I am also considering duplex and tri-/quad-plex assets if they pencil.

Additionally, I currently work for a locally-based commercial developer/lender on multifamily, land, and some hospitality projects. If you have a deal in the Jax area that might be a fit, I might be able to connect you with someone who could help.

Thank you!

Seth

Three Newly Constructed homes and one freshly renovated available steps from the beach in neighborhoods that generate $80,000-$100,000+ per year in STR income. Seller looking for realistic offers and a quick close. All four properties asking $4,925,000. Message me for more details. Homes can be purchased separately as well. ne Constructions estimated completion this month (February 2025).

Hello everyone,

For those who call St Augustine home/ investment home , how challenging is the process to build an ADU on your property in St Augustine? Please share your advice and experiences

 a PM ?

Be sure to carefully follow St. Augustine's STR Ordinance:

https://www.citystaug.com/830/Short-Term-Rentals