All Forum Posts by: Kerry Baird

Nice introduction!  Welcome to BiggerPockets~

I'm in the Space Coast, so not right on your doorstep, but I have gotten a lot of value from attending meetups and talking with others about all kinds of aspects of investing.  Look to attend one, and start gathering resources who can contribute to your success, such as lenders, title agents, contractors and more.  

Welcome to BiggerPockets!  My folks lived in Santa Fe when I was younger, and I am so fond of the area.  Please look for a meetup and see if you can meet other investors and start getting resources for doing your deals.  

There are economies that are going to thrive in Florida, even while there are economies that aren't very healthy.  There are many factors that go into house prices, but the local environment in Miami is not the same thing as the economy in Tallahassee or Cocoa Beach.  

As far as action steps, it is best to get your financing in place first.

Buyers are largely uncertain right now, and perhaps hopeful that prices will come down.  In my area (Space Coast of Florida) the snowbirds are in town and are buying expensive houses at a good clip.  There are other price points that are stagnant.  It just depends.

Are you looking at single family rentals?  There are always houses in distress, renovations, probates and so forth, and deals are made in all kinds of markets.  A growing market is better than one where folks are moving out.  I like brick or block 3 bedroom houses with good roofs.  I like to buy in growing areas, near military bases or other industries where folks get solid paychecks. 

There are not going to be neon lights over good deals.  You have to be looking in good times and in bad, and if you look for a few minutes every day, you will find houses that have been on the market too long, or overlooked gems that need updating. 

I want to give a thumbs up to the notion of calling each municipality and ensuring it is a permitted area to operate STRs.  My municipality recently passed new stricter ordinances and there are a lot more hoops to jump through this year than last. 

As for where I buy, I have found my houses by riding my bike in the area and talking with people.  I asked for and received owner financing, and figured I could always transition to LTR.

Welcome to BP, for starters. I am not sure if you have seen that there is an STR forum, and I hope to see you posting there to answer questions and share your experience in the vacation rental space.

I am also operating in Florida, with my municipality making stricter ordinances recently, it would not surprise me to see you have experiences of a similar nature.  

Welcome to BP, and thanks for posting your deal.

What is your plan with this vanilla house?  Are you keeping it for short term rentals or moving to long term? 

It sounds to me from the STR forums that many areas are saturated. Either that, or the municipalities are running amok with severe ordinances.

@Joshua J Foster, no I have houses in Texas in addition to Florida.  

Well that was a titillating headline!  I don't know if there are ever "perfect" endings, but the spice of life (to me) are those relationships.  

Welcome back, @Jay Scott.  I look forward to your contributions.  

@Joshua J Foster, welcome!