Jensen Beach Investing

[Matt Hubert]

Any investors in the Port St Lucie, Jensen Beach, Fort Pierce area?  I have visited the area for 4 winters now for a long weekend in February to visit my in laws.  They rent a place on Nettles Island for the month of February.  I'm interested in buying a vacation rental in the area, I do not have any specific property picked out at this time.  Other than some raw land, this will be my first real estate investment.

Looking to connect with other investors who would be interested in giving tips on analyzing properties in the area and who are familiar with the market trends.

Thanks

Matt

[Theresa Holl]

Hey Matt,

My friend Kalvin is a Fort Lauderdale STR investor and might be a good resource for you. Let me know if you're open to an intro. :)

[Brian Christinakis]

Hey @Matt Hubert!

Investor-Agent here originally from Stuart! I live in Miami now, but own/operate a STR in Stuart close to downtown.

TBH, when I was looking in the area, there are some nice houses on Nettles island, but occupancy rates and ADR were not super convincing for the price point. Happy to chat more if you'd like!

[Andrew Steffens]

I am a PM and investor in Tampa but have friends in Jupiter so I know that area and have looked before. It is a niche market without a lot of draw short of the beach itself. If you are looking for ROI I would suggest South Florida or Tampa area. If you are looking to have a vacation home in that market where the cost can be offset some, then it might now be a bad idea

[John Karg]

Hi Matt,

I'm relatively closeby in Palm Beach and know how nice those areas are. I would just suggest thinking about what months you would be using the property yourself and make sure they aren't the peak vacation rental months, as otherwise the property won't have a chance to pay for itself. If you can use it in the off-peak times then it could make sense however. I would also make sure to know what type of financing you will be using--the traditional choice is a second home loan, but this doesn't allow you to use future rental income to qualify. Feel free to reach out with any questions! 

John

[Matt Hubert]

Quote from @John Karg:

Hi Matt,

I'm relatively closeby in Palm Beach and know how nice those areas are. I would just suggest thinking about what months you would be using the property yourself and make sure they aren't the peak vacation rental months, as otherwise the property won't have a chance to pay for itself. If you can use it in the off-peak times then it could make sense however. I would also make sure to know what type of financing you will be using--the traditional choice is a second home loan, but this doesn't allow you to use future rental income to qualify. Feel free to reach out with any questions! 

John

 You said what we are thinking about peak season and paying for itself.

[Matt Hubert]

Quote from @Andrew Steffens:

It is a niche market without a lot of draw short of the beach itself.  

Andrew, is there much of a STR market in Florida beach cities in the downtown areas where restaurants, bars, and shopping are?

[Andrew Steffens]

@Matt Hubert

I’m a bit bias but I like Tampa because we have 3 pro sports teams, big concerts and festivals, gulf beaches, spring break/spring training, and two downtowns (Tampa and Saint Pete) so there is a lot of draw to the area besides one thing.

[Savannah Yingling]

Quote from @Matt Hubert:

Any investors in the Port St Lucie, Jensen Beach, Fort Pierce area?  I have visited the area for 4 winters now for a long weekend in February to visit my in laws.  They rent a place on Nettles Island for the month of February.  I'm interested in buying a vacation rental in the area, I do not have any specific property picked out at this time.  Other than some raw land, this will be my first real estate investment.

Looking to connect with other investors who would be interested in giving tips on analyzing properties in the area and who are familiar with the market trends.

Thanks

Matt

Hi Matt! I grew up going to Jensen Beach at least once a year. Over the years the town has grown quite a bit and has made many improvements to the community. We still have my great grandparents house in the family. For years we were renting it long term and never really had an. issue with turnover. Someone made a good point it can be worth it for STR but definitely take a good look at numbers and peak vacation times throughout the year.

[Kevin Kohler]

Quote from @Matt Hubert:

Any investors in the Port St Lucie, Jensen Beach, Fort Pierce area?  I have visited the area for 4 winters now for a long weekend in February to visit my in laws.  They rent a place on Nettles Island for the month of February.  I'm interested in buying a vacation rental in the area, I do not have any specific property picked out at this time.  Other than some raw land, this will be my first real estate investment.

Looking to connect with other investors who would be interested in giving tips on analyzing properties in the area and who are familiar with the market trends.

Thanks

Matt

I help folks in that area and Jensen is important to be on the actual East side near the ocean.  Happy to discuss anything further.  

[Matt Hubert]

I help folks in that area and Jensen is important to be on the actual East side near the ocean.  Happy to discuss anything further.  

 Kevin, the east side particular Nettles Island is what I've been looking at.  I could use a little help estimating the projected income.  For example, I used AirDNA for a property and came up with $54,200 annual income, Pricelabs says $24,600, and my estimate based on the property my in laws stay at is $32,000.

The income is the hardest for me to estimate, even using enemy method.  How can I hone in on key factors like income, ADR, occupancy, etc?

[Jon Martin]

Quote from @Kevin Kohler:

I help folks in that area and Jensen is important to be on the actual East side near the ocean.  Happy to discuss anything further.  

East side as in the "open" or exposed ocean, or it is enough to be close to the intercoastal and bridges?