STR in Unincorporated Bay Pines (5 min drive to Madeira Beach) or Indian Rocks Beach

[Rachael Palmer]

Hello everyone,

I grew up in St. Petersburg and now live out of state. However, I'm interested in investing in a STR in my home state, especially as my mother still lives here. I've looked in Tampa (Hyde Park, Tampa Heights, Seminole Heights) and Pinellas county (Clearwater beach, Indian Rocks, Lealman, St. Pete) and have narrowed it down to finding a single family home with a pool in the unincorporated Bay Pines area or Indian Rocks Beach (note, it took a long time for me to get over my beach view condo dream in a popular area but HOA fees and restrictions helped!). Does anyone have experience with STRs in either of these areas? Any preference for one over another? Is this a good idea?

I'm thinking that I need to buy soon while it's a buyer's market and refi when rates go down - am I thinking about this the right way?

Any and all advice is very much appreciated!

Thanks!

Rachael

[Josh Green]

Quote from @Rachael Palmer:

Thanks Josh!!

What's your opinion on this specific area of unincorporated vs. waiting for something on Indian Rocks Beach? I read somewhere that Unincorporated areas like Lealman doesn't have great returns so I want to ensure Bay Pines unincorporated would do better or is there another area to consider?

The area among several others is more than capable - the finish product is far more important once you’ve picked an area that’s proven to perform.

I’ve bought 25+ for me and clients in the last 18 months and manage 15+.  I also have a world class designer on my team that helps get these kind of properties from the average $60-$75k/yr range to over $100k/yr range (for 3bd homes; more the bigger you go).  

If you haven’t already signed with an agent I’d be happy to go into more details over a video call. 👍