Furnished condo for STR in Jacksonville, FL

[Christine Sierra]

Looking to purchase a 1b/1b condo in Jacksonville, FL. Planning on using it as a furnished STR (6 month min) in hopes of getting the max return. Total newbie here buying first investment property. Any thoughts on furnished rentals?

[Michael Baum]

Hey @Christine Sierra, that is a long term rental. It is rare to get traveling nurses etc for more than 3 months. Contracts like that are usually shorter than 6 months. Otherwise they hire for permanent positions. I wouldn't rely on that.

How close to the colleges? Like walking distance? I wouldn't get into student housing if they have to drive 15 minutes to school and park.

Now, with the 6 months minimum, you can expect that it could change to no leases under a year.

Frankly there is too much risk with this. You are new to investing so you want to get it right or it will slap you right into the dirt.