All Forum Posts by: Ricardo Hidalgo

Good day everyone, 

I am interested in purchasing either a condo or a townhouse for short-term rental. I am also open to a longer rental as long as I could use this place for 1-2 months as a second home (summer or winter break). Budget at or under 400K. HOA and insurance costs as low as possible.
Can you suggest a few good cities in the FL with lower vacancy rates and close to nature/activities?

I am open to both the Gulf side or Atlantic/east side of south Florida.

I plan to travel to FL early next month and want to have some idea of good cities/regions to start with. Your advice will be beneficial.

Regards

Suhaib

Howdy from Cancun! I’m here at the BiggerPockets Conference 2024! Hit me up if you want to connect! #bpcon2024

I’m Bryce H. Chapman. I’m wrapping up a fix-and-flip project going on the market this month in Cleveland, Ohio, and I own three duplexes in Rochester, NY, all long-term rentals. Though I’m based in Austin, TX, I’m actively looking to grow and build partnerships in these cities— from reliable handypeople to lenders and agents. I’m also open to opportunities in Austin and throughout Texas. I’m exploring mid-term rentals and aiming to move into apartment complexes.

In addition, I have a one-acre lot in Destin, Florida, that I’d love to take further steps with. My goal is to acquire 25-30 properties in the coming years (or sooner) and scale from there. I’m open to different approaches to reach this goal, whether through partnerships or creative strategies.

I’d also like to connect with someone — CPA— who understands holdings/LLCs, tax strategies, and legal protection, as we need support in both legal and tax planning.

Let’s chat if you’re interested in partnering or can offer insight in these areas!

Curious what everyone here has been averaging on STRs in the Destin/Ft Walton area? 

Some of the profits and losses I’ve been seeing in certain properties have been significantly lower than Airdna projects, with only a handful being in the projection range, and maybe one or two exceeding. 

So what’s been your average annual gross for a 2/2 beachside? 

I think prices of properties are still high.  Would it be cheaper to build?  Does anyone know the going rate for price/sq ft to construct a beach house?

Looking to buy a property in Fort Walton Beach. I’m in the military, and will be moving again in about 15 months. Currently renting, but was really debating buying a beach front condo in Okaloosa island to live in for the remainder of my time here, but then hoping to rent it out once I leave. 

Does anyone have any experience buying short term rentals in that area? Any recommendations? Just currently exploring what would give me the best bang for my buck. Seems like okaloosa is very busy and lucrative during summer, but kind of a dead town in the winter. 

Hi all,

New out of state investor here!

I am looking to buy a turnkey property (SFH 3-bedroom) in Florida for cash flow. My max budget is $200k for a property (with 20% downpayment). I would appreciate it if you could give me some advice on which market would you prefer to invest: Panama City (not Panama City Beach), Daytona, Tampa or Cape Coral. I find that Tampa and Cape Coral are larger markets, but it seems that it is harder to find properties that cash flow. Happy to hear your advice!

Thanks,

Anyone on here have or know of anyone who has a townhouse on Horizon South or know anything about that area. Looking to buy a first time STR. We are looking at a house on the West side of PCB and wondering everyones recommendations- would you choose a house- 2 blocks from beach with a golf cart- (I can link the VRBO for anyone to see) or go with a Townhouse in Horizon South.

Thanks for your recommendations.

Lisa

Looking for advice on best strategy/next step following sale of a home we owned in Florida as an STR.

Background: Sold 3bed/3bth home, have approx $600k equity. Funds currently being held by QI. 

Option 1: 1031 into another STR, target price $1.1-1.4m. Would want min 3 bed/3 bath, located in FL/TN/SC/NC/GA. Either close to water/beach, or in scenic/mountain area. Have always owned homes but would consider a condo with an amazing view or unique features. Familiar with FL and have been looking in Tampa area, Naples/Ft Myers, 30A, Space coast, and Jacksonville areas. Numbers in FL are not looking great with insurance/taxes/HOA fees/etc for cash flow but willing to focus more on just breaking even (or close to even) and having significant long term appreciation.

Option 2: take the cash, pay 20% long term capital gains and wait as market continues to dip for a prime buying opportunity.

Would greatly appreciate insight/advice from those much more experienced and knowledgeable than myself. Thanks in advance!

What’s going on with the palms of destin, and destin in particular?? Been watching this market a little bit from afar, and can’t believe the massive price cuts! Heard there is a massive problem with the building, can anyone confirm?