Does Jupiter Florida Work for STR or LTR? 400-650k budget

Question

Looking for any feedback as this is my first purchase. Im looking to buy a single-family home in Jupiter Florida and would like to rent it out on Airbnb (open to LTR). My budget is 400-650k. My goal is to rent it out and then in 3-4 years allow my mother-in-law to move in as she is wanting to retire in the area. I love the area however, I have done a lot of research and am having a hard time making the numbers work out in terms on COC return. The outskirts work a bit better but my wife and her mom would like to be near city center. I live in Los Angeles so will be investing long distance.

Do you have any recommendations on the area? Does this area still work? Do you have any relator recommendations that have great experience in investing?

Kyle Camerlinck · Answer

Good morning Pearce,

I love the idea, and I think you are definitely better off doing short-term if you are interested in single-family. It will be impossible to find something cash-flowing as an annual rental in that price range and asset class. I think it is not impossible to find something in that price range, but you will most likely be north of 500k. I am a local broker in Jupiter and specialize in investment properties. If you would like some further advice or direction I would love to help you out!

John Underwood · Answer

Your best opportunities are going to be unlisted properties that need some fixing up.

Look at foreclosure, Estates, tax sales. Some of my most beautiful houses were bought as condemned houses and I completely upgraded the house.

Michael Baum · Answer

Hey @Pearce Trenary, list it on VRBO as well. AirBNB isn't the only game in town.

You need to be on both at a bare minimum.

Andrew Steffens · Answer

Ill shoot you a DM I know a great broker there that can help in home selection and contract negotiation, but cannot improve the ROI if it simply isn't there

Does Jupiter Florida Work for STR or LTR? 400-650k budget

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