PCSing to Pensacola - What's a good area?

Question

I am active duty military and I will be PCSing to NAS Pensacola, hopefully, within the next 6-12 mos. I will be attending training there that lasts roughly 12 months. My wife and I are looking at buying a property that we can live in and fix up (cosmetically) and then either rent it out as a standard SFH or as a short term rental.

I am interested in see what other professionals have seen as good areas to invest in, what the average rents you are currently seeing for 3/2 roughly 1500sqft homes. What is the AirBNB market looking like? Are there any restrictions, etc.

Looking for some general feedback on the area!

Thanks!

-Tyler

Lake Lutes · Answer

@Brendan Bello Heck yeah man - good for you!

You will do great. Decide if you are going to use a PM or advertise and manage it yourself. If doing it yourself, have a plan for showing and screening tenants. There are a lot of good applications out there, but I use zillow for my rental applications. They have a good and simple lease builder as well.

Use rentometer and the BP Pro rental calculator to be sure you price it correctly, and take into consideration any expenses you might not have considered. Always prioritize the right tenant over getting it rented quicker! Best of luck man!

Matt Jones · Answer

Hey @Tyler Hall!

Pensacola is a great town, I'm sure that you'll enjoy your time here.  Will you be stationed at NAS Pensacola the entire time or also somewhere else like Whiting Field for some of your time here? I ask because I regularly see service members who will be stationed at both buy somewhere in between(like the Pensacola areas off of Davis Hwy / Scenic Hwy / Near UWF or in Milton near Avalon Blvd).  If you'll be at NAS Pensacola the entire time and you prefer to be close to base then focusing your search outside the front or back gate may make more sense.  With the way Pensacola is laid out you can look in almost the entire area if you don't mind commuting up to 30 minutes.  There are good areas for rentals in pockets all over town so don't think of this like a big city where you might have to narrow down your area to one suburb or specific area of town. You can just look for houses you like and run the numbers rather than focusing on small areas.

As far as AirBnB, our market is fairly saturated so you really have to operate at a high level to stand out and/or have a really excellent location.  Downtown str's have done well and it's convenient to the front gate of NAS Pensacola but you could also consider near the beaches of Perdido Key since that is convenient to the back gate and it's a more traditional tourist destination.  Either way, you want to be close to something that is drawing visitors to the area or you'll likely face too much competition to be profitable in my opinion.

Feel free to reach out if I can help you with your search!

Tyler Hall · Answer

@Matt Jones thanks so much for your time and your answer. From what I am currently tracking, I will be at NAS Pennsacola the whole time for the training. I did a little bit of research and notice that the AirBNB market is saturated so it's good to hear your take on it as well. Thanks again!

Brendan Bello · Answer

Hello @Lake Lutes, I am currently at NAS Pensacola but will PCS to Portsmouth Virginia in December. I bought my first townhome with the VA loan off I10 and Davis Highway and am hoping to rent it out once I move. Are you able to give any area specific advice to a prospective landlord?

@Tyler Hall I second recommendations on Perdido Key and Downtown if you will be at NAS Pensacola the whole time. You will be able to market to all the Naval Aviation students. DM me for links to some Facebook groups that tenants and landlords use to find or advertise properties. If you want to capture some interest from nurses as well, Bellview is a good area.

Tyler Hall · Answer

@Raymond J. Rodrigues thanks for the recommendation!

Tyler Hall · Answer

@Lake Lutes sounds good. I appreciate your response. Wants I get more details I will be reaching out to you!

Lake Lutes · Answer

Thanks @Raymond J. Rodrigues! Happy to chat @Tyler Hall - STR regulations differ from area to area, but for the most part you shouldnt have a hard time finding a place you could live in now and STR down the road. Hit me up if you want to chat specifics man!

Raymond J. Rodrigues · Answer

@Tyler Hall reach out to @Lake Lutes! He is also in the military and is a local investor/realtor!

PCSing to Pensacola - What's a good area?

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