Interested to find our first short term vacation rental!

[Cindy Caldwell]

Hello all. My husband and I are looking into our first short term vacation investment. Thinking Myrtle Beach would be a great start! Also considering Florida. Researching how to best manage the property ourselves through automated systems . Any suggestions would be well appreciated! Does anyone know good realtors in Myrtle Beach, Clearwater Fl, Tampa Bay area?

[Tchaka Owen]

Originally posted by @Kevin Mercado:

@Krista Goodrich @Daniel Denning, @Alex J., @Alexander Knowles Hi all - joining the conversation as I've been scouring the threads on this topic - to those already in the Tampa Bay/ Clearwater or knowledgeable in Florida market or even Volusia county can you guys opine on whether those areas are stronger / future trend and value perspective (from cost to acquire/set-up) versus Orlando / South florida (Ft. Lauderdale / Miami beach / or even West Palm Beach area) 

I'm in the same position and have really been on the search, but being from out of country - I have gaps in market presence so I know id be spending hours on diving into market research though thats not a problem necessarily since it means there are "good options" not just one. Looking to connect with any realtors that are investor oriented and do this themselves + if you have contacts/boots on the ground for setting up/managing the properties that would be great too 

Lots of opportunities throughout the state; if I had to guess, I'd say South Florida and Orlando are head and shoulders above the rest as far as pure numbers. While South FL does command high rents, the problem is that the setup costs are likely the highest. In fact, it's almost to the level of absurd. I have a client looking to buy in Hollywood (where I lived for over a decade) and I'm consistently pulling him back. There are homes going for over a half-million in areas that were selling in the $200s not long ago. As an investor, that takes a huge bite out of your profits. 

Brevard (where I live) is much more moderate, the issue here is that many areas do not allow STRs. You have to know which cities allow and which don't. But once you get through that, the returns are nice. Good luck!