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Updated over 3 years ago on . Most recent reply
STR vs Multi family in FL
Hey guys, newer investor here, I have been looking for STR in the Florida market for a few months now but also considering multi family after speaking to some friends. Quadplexes or larger preferably, does anyone here reccomend any specific areas in FL to search for good properties and or have any pros/cons of either STR or multi family in FL?
Most Popular Reply
Daria,
i would highly suggest you speak to Avery Carl she runs the shorttermshop.com, it cost nothing to use her services and she can connect you with the best str in Florida. She is highly knowledgeable in this area and really knows what she's talking about. She even helps her clients on the back end of a transaction by showing them how to properly manage and systemitize a successful and highly profitable short term rental.
Daria,
i would highly suggest you speak to Avery Carl she runs the shorttermshop.com, it cost nothing to use her services and she can connect you with the best str in Florida. She is highly knowledgeable in this area and really knows what she's talking about. She even helps her clients on the back end of a transaction by showing them how to properly manage and systemitize a successful and highly profitable short term rental.
@Daria Berenato think that both are possible. Have definitely heard of people running STR out of a small multifamily. Currently run 2 STRs in a duplex in a college town and it has outperformed long term rentals forsure.
Running STR is easier than you think once you have systems and processes in place.
Would also check airdna.com to see how competitive your area is for STRs and see what kind of furnishings etc are required to compare with the market.
Combining multi-family with short-term rental is a great option. I have a quad Plex with all four units rented short-term. My returns as a long-term rental were roughly $4,800 a month. After I flipped it to short-term rental I'm grossing over $10,000. PM me if you have any questions.