Vacation Homes in Florida - where would invest?

[Jami Kloet]

We are looking to eventually purchase a vacation home in Florida. We'd like something that we can use as a STR for a few years, and escape on our own a few times a year with family.

I'm curious, those of you who are familiar with STR and the Florida market, where do you think some of the up and coming places to invest would be? Which markets should we be watching?

This is where I'm at right now, but I am most definitely open to investor advice.

We'd like a 3/2 with a pool. Freehold house preferred, though the right condo might appeal to us. Something on a canal or waterfront would be ideal, but not a deal breaker. I think we prefer southern Florida, gulf or Atlantic side, that's within walking distance to bars and restaurants, and a beach nearby. 

I think Orlando is out, as we prefer less theme parks/chains, and more access to water and beaches and bars. Miami is also out, as it's a little too fast pace for us. 

I love Fort Lauderdale/Hollywood, but it seems to be picked over as far as vacation rentals (within our budget) go. Are there still pockets in that area that could work for a vacation home? The other bonus of FLL is that we can fly direct from Detroit for very little, which is also a factor.

I also love Fort Myers, as I love the beach town vibe. 

Are there other areas that have that Fort Myers or Lauderdale-by-the-Sea vibe that we should consider?

We've spent time in Punta Gorda (it was alright, but still seems affordable), and we did like the feel of Port Charlotte. 

I also keep hearing about Destin, but I think we'd prefer to be a little more south.

I am open to all suggestions, as I want to start exploring a few more places so we can focus our search area, keep researching, and be ready to purchase when the right property presents itself at the right time. 

Would love thoughts and advice from those in the know, as well as any other advice for managing a vacation property from afar. 

[Valerie Rogers]

Hi @Jami Kloet, nice to meet you! 

I have 3 condos in Fort Walton Beach FL (next door to Destin) in the Panhandle. I know you said you prefer southern FL however, so my feedback might not be quite relevant. But our first condo there did so well that we have since  bought 2 more in the same building. 

Why FWB? We (like you) had heard about the popularity of Destin, both to vacationers and to investors. But we found we could not get what we really wanted within our budget in Destin. Our realtor took us over the bridge to Okaloosa Island (in the city of FWB) and bingo! We found one of the most spacious 2 BR/2BA condos in a small building located directly on the beach with a gorgeous view of  the Gulf...all within our budget. (That was in 2014; the market has continued to increase so each of our subsequent purchases cost increasingly more than the last.)

@John Underwood I saw that same episode of Vacation Rental Potential that touted Panama City Beach as the #1 U.S. vacation rental destination, and for some reason I have a hard time believing it! I guess they may be basing that claim on the number of bookings that city has garnered on the site, but when I think of the #1 place I'd like to visit in the U.S. PCB is not one of them. Just may be me, though. 

I've enjoyed watching the series, though.

Best of luck Jami!