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Updated over 1 year ago on . Most recent reply

User Stats

38
Posts
15
Votes
Trent Barga
  • Real Estate Agent
  • Dayton Ohio
15
Votes |
38
Posts

STR in areas like Anna Maria Island (FL), etc with Higher price points

Trent Barga
  • Real Estate Agent
  • Dayton Ohio
Posted

Considering getting into STR in the area we vacation at yearly. One of the things I'm running into when running numbers is the purchase price vs. weekly rental rates. We would want to purchase a home so that would put us between 1.2 to 1.5 million. Using different str formulas and considering the extra taxes and fees for running a STR in those areas it looks like break even. Not looking to make 100k/year but would be selling 2 rentals (1031) to make purchase so perfect world would like to cover my $30k/year I currently make on the long term rentals.

Airdna showed $5500 avg weekly rental and $340/night. Ones I've considered and with the upgrades we would do I think we would be in the $6k weekly and 380-400/night range.

Would love to get opinions and thoughts from others who purchase in the higher price points and how they run numbers or make it work. Or if you have a youtube channel you could refer me to that would be great. The ones I've followed aren't doing the "higher" price point areas.

  • Trent Barga
  • Most Popular Reply

    User Stats

    3,740
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    Kerry Baird
    • Rental Property Investor
    • Melbourne, FL
    2,584
    Votes |
    3,740
    Posts
    Kerry Baird
    • Rental Property Investor
    • Melbourne, FL
    Replied

    @Trent Barga

    I like watching STR Unfiltered with Bill Faeth. He buys big houses, one row back from the ocean, as well as cabins in drive in destinations. His YT videos show what he does to stand out, and to drive his income.

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