Most Underrated Market in the US (Savannah Georgia)

Real Estate Agent · Savannah GA · Member since 2020 · 22 posts · 14 votes

Hey BiggerPockets Family! I’m back! Let’s talk about Savannah Georgia.. I’m consistently getting my clients 20%+ Cash on Cash Returns on Short Term Rentals in our area. I’ve helped Jabbar Adesada (Bp episode 357) get 3 Short term rentals in the past 4 months, I truly believe Savannah Georgia is the most underrated market in the United States.

Deal Breakdown:

Purchase Price: 275k

Initial investment: 60k

Airbnb Rents: $4500 (Conservatively)

Cashflow: $1500 a month

COC: 30%

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Evan Holly

Rental Property Investor · New York, NY (nyc) · Member since 2021 · 39 posts · 18 votes

I agree, underrated. I have a couple short term rentals outside Savannah and they crush. More than 7 mins from downtown though! Now you’ve got me curious!

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Jay HurstBusiness Member
Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
3y
Quote from @Marcel Sunday:

Hey BiggerPockets Family! I’m back! Let’s talk about Savannah Georgia.. I’m consistently getting my clients 20%+ Cash on Cash Returns on Short Term Rentals in our area. I’ve helped Jabbar Adesada (Bp episode 357) get 3 Short term rentals in the past 4 months, I truly believe Savannah Georgia is the most underrated market in the United States.

Deal Breakdown:

Purchase Price: 275k

Initial investment: 60k

Airbnb Rents: $4500 (Conservatively)

Cashflow: $1500 a month

COC: 30%

@Marcel Sunday Does the city regulate STR rentals in any way?
Hurst Real Estate, INC4.991 Reviews
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Kenny Kuramoto
Member since 2022 · 69 posts · 20 votes
3y
Quote from @Jay Hurst:

Quote from @Marcel Sunday:

Hey BiggerPockets Family! I’m back! Let’s talk about Savannah Georgia.. I’m consistently getting my clients 20%+ Cash on Cash Returns on Short Term Rentals in our area. I’ve helped Jabbar Adesada (Bp episode 357) get 3 Short term rentals in the past 4 months, I truly believe Savannah Georgia is the most underrated market in the United States.

Deal Breakdown:

Purchase Price: 275k

Initial investment: 60k

Airbnb Rents: $4500 (Conservatively)

Cashflow: $1500 a month

COC: 30%

@Marcel Sunday Does the city regulate STR rentals in any way?

They do. Only specific areas are allowed to STR. Mostly around Historic area. I don't invtest there I just know that part. lol There might be more areas though
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Marcel Sunday
OP
Real Estate Agent · Savannah GA · Member since 2020 · 22 posts · 14 votes
3y
@Jay Hurst Hey Jay, Yes they do they have a cap in each ward, when it comes to downtown Savannah. It’s still possible to get stvr’s downtown but it’s not easy, because it must have an stvr permit or must be an owner occupied stvr. we’ve been looking more in the unincorporated Chatham county areas, about 7-15 minutes away from the city and airbnbs in those areas are exceptional as well and a whole lot easier to get permits in.
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Marcel Sunday
OP
Real Estate Agent · Savannah GA · Member since 2020 · 22 posts · 14 votes
3y
@Kenny Kuramoto Not exactly you can get Stvrs in the historic district of downtown Savannah but the price will be 600k+, because of it’s prime location and it would either need to have an stvr permit already (increasing price significantly) or you would have to owner occupy the property to stvr in the historic district. Unless the property was commercial.
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Evan Holly
Rental Property Investor · New York, NY (nyc) · Member since 2021 · 39 posts · 18 votes
3y
I agree, underrated. I have a couple short term rentals outside Savannah and they crush. More than 7 mins from downtown though! Now you’ve got me curious!
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