Long term vs Short term

[Craig Blancato]

Hey everyone,

I'm sure this topic has been discussed many times but I figured i'd throw the question out there and see everyones opinions. I currently live in Ga and I am looking to purchase my first rental property. I'm going back and forth trying to see what would be more profitable, a short term rental or a long term rental. If I were to purchase a short term rental it would be in Fl in areas such as Panama City Beach and Destin. If I were to go with a single family long term rental it would be in the northern Atl area. 

Please let me know your thoughts on both.

Thanks,

[Melissa Jolley]

@Craig Blancato

Both. Let me explain....the seasonality of the beach makes STR appealing but it does get slower through the winter. Snowbirds come in after labor day and leave in Feb. Do short term during season and 5-6 month lease in the off season.

A few key points- STR's are expensive to have managed through a PM. Will you self-manage? They will be more profitable and popular with guests if they are closer to the beach....is that in your budget?