All Forum Posts by: Chris Noles

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Thank you for the recommendation.  I will reach out to him.

Hi,

I am about to wrap up 3 years of experience self-managing a beachfront STR condo in Myrtle Beach, and I am thinking about making a move into an LTR for a few personal reasons.

I really like the Tampa/St. Pete area because of the milder, warmer winters, and I am trying to see if I can structure a deal on a Duplex, Tri or Quad that would give me an extra bedroom to use as an STR and/or place for me to escape to in the winter while the other 2 or 3 tenants help pay my mortgage.

I am concerned about the increasing insurance costs and natural disasters, and I am curious to know if the numbers could still work to cashflow on something at a $350K to $500K price point with today's interest rates.

I would even consider going further inland to Ocala, but I am not a big fan of Orlando/Central Florida.  I would like something about 15 to 30 mins. from the gulf coast.

I appreciate any feedback from landlords, realtors or other professionals in the area.

Thanks!

I was where you were back in 2019.  I wanted to get started, but I didn't have much money saved up. I found out that I needed around $45,000 to get a down payment even on the smallest condo. The only other thing you might be able to do is find a partner who will put in the cash and you put in the sweat equity.  

Flipping land is a good way to start out building capital if you have at least $10,000. You can DM me if you want more info.

Good Luck!

@Bill Regan how about southwest fla like englewood or north port?

@Bobby Paquette oceanfront property in Arizona.

@Richard Elvin I live in north GA, and we have a condo at Myrtle Beach that we picked up last year. I highly recommend a condo there as long as you only expect steady bookings from about May thru September with a chance of snowbirds. However, you do earn enough to cover the low season if you buy the right place. I live close to Blue Ridge, but there isn’t a lot going on in that town compared to gatlinburg or banner elk. We were thinking about a mountain condo to offset the slow beach season, but we are still researching the market. Good luck!

I have been looking ino this market, and would love to get feedback from anyone who owns a 1 or 2 bedroom condo in Banner Elk, especially at Sugartop or Ski Sugar Country Club.  What kind of occupancy rates are you seeing, and what are your annual rents?  The numbers coming from Rabbu don't look great even though I hear a lot of good things about the area.

Thanks!

@Jim Bob I just sent a connect request here, then we should be able to message.