All Forum Posts by: Nancy Bachety

I would say yes, you are. Go and increase your base price and your minimum by 10% to start.

To classify a STR as a VRBO and not as an airbnb is a mistake.

Take some time to pretend you're going on vacation. Pick a spot, any spot. What do the hosts describe as being awesome about their places? What do their reviews say about their places? What is the cost per night to stay? (ADR) 

Next, go on Zillow or your favorite real estate site. Maybe connect with a BP realtor who understands, owns, operates STR's. There are several right here. Now pretend you're buying a house in that very area. What does it cost to buy?

Lastly, find a STR analyzer. One member here just posted one of his but there are plenty online, like Airdna.

Finally, read through this forum and thank the folks who answer your questions. Try to understand their angle. Respect their knowledge and their time. That's ageless.

@Awais Ghazali Good point. High w2 earners, even those who are deemed real estate professionals, have limits on schedule E, as I understand it.

Purple mattress. There are independent resellers of the ones that customers return after two weeks. 

We just made the decision two days ago. We went with electric in NE FL, AquaCool system. Propane gas is the other option and in this region, that is more costly than in other parts, like NY where we have natural gas. It might take a few hours more to reach a temperature but who really knows, when temperatures vary and wind and shade and full sun vary too. Being installed this week. We just put the pool in, listed it with a pool, and most people asked 1) if it was heated and 2) how much we charge per day to heat it. We rented it to none of those people who asked but decided to buy a heater because of their questions.  

Catching up on m replies....We own on the island, a short walk across the Bridge of Lions and a couple miles to the beaches. It sounds like it's where you're buying. 

We bought it brand new in 2017 while living in NY. Furnished it in 6 days and turned it over to our first guest at 4:00 pm that 6th day. We manage it from NY too but now our winters are spent here (love love love NY but not its winters) and we get great summer income when we're north. It's not a job when you have systems and the right team but it does take your attention. 

Let me know if I can help answer any other questions you might have at this time. Consignment shops, Wayfair and Overstock, and Costco  were our go-to's.

Davis Park is a neighborhood in Bonita springs/ Naples with sfh and no HOA. Next to the beach and the Ritz carlton. Look there. We shopped around there about 10 years ago but now there's limited supply. Great location, high demand.

Bonita springs and Estero to its north offer similar rentals, as mentioned, and highly attractive. We owned in both. Not the most profitable but it offers a lot if owner has personal interest. Then, it's a win win when all your annual costs are covered.  

Thank you for your feedback. I now see that no matter what we buy, we'd most likely sell it and not rent it as an exit plan. Buying to live in is different than buying to invest in, at least in this area. 

Still working on learning the neighborhoods bc they can all look good on paper. 

St. Augustine is a year round destination because of its history, easy to get to location for most  of the population, wedding venues and the ocean. Lots of reasons bringing diverse folks for various reasons year round. I can't speak for other owners but here's our experience. 

We have a 4 br house walkable to the city and we just put a pool in. Our guests stay for a week minimum in the summer and holidays easily, and we just had a two week stay for Christmas. Jan Feb and September have slower demand. We could fill it every weekend year round for 3 nights with people like John because they can walk over the bridge  of Lions to their wedding. Beachfront is harder to justify in the off-season for a week but not in the downtown area, from what I see.

Cleaners aren't a problem. Pay the good ones well. Find the right realtor too.

Great location either way, good luck.