Clearwater beach/Siesta Key - can you break even or make money?

[Tameria Dishman]

Hello - I am reaching out for friends who are considering buying a second home in either the clearwater beach/ Siesta Key area. Initially they would rent it out as a STR, and then when they are empty nesters - they would be able to stay more ofter. Any advice? Also is it a sellers market? Have there been any/many foreclosures lately?

[Stephan K.]

Only very few houses in Clearwater are grandfathered in and can be rented as STR.

[Tameria Dishman]

@Stephan K.- Thank you. Good to know. Is it the same for condos? I have a STR condo in Maui. On Maui the rules are different for condos than they are for Single family detached homes. Detached homes have to renew their STR permit every two years.

[Stephan K.]

No difference.

[Tameria Dishman]

Thank you

[Mike Shulman]

I would recommend Indian rocks Beach. They are str friendly. siesta Key only allowed it in a small area right on the tip of the key. You can make money in both locations. 

[Tameria Dishman]

@Mike Shulman. Excellent! Thank you so much!

[Mike Shulman]

I know some good agents out that way if you'd like me to connect you.