MN resident looking at first REI perhaps in FL, CA, or AZ (among others)

[David John Forliti]

Hi,

My family and I are looking at REI with a focus right now on FL, CA, or AZ, with other considerations in the mix. We are 10-15 years out from retirement, so our current thought is to get a STR or MTR that we can use part time in a limited capacity until retirement. Not looking to build a huge portfolio or anything, just want a warm place to escape from time to time as well as an eventual retirement location.

We are a bit overwhelmed and looking all over the place. We do like both coasts of FL, but are worried as one would expect about insurance costs. I like Naples but the value on the east coast (e.g. St. Augustine) looks better. We used to live in SoCal and are fond of the area but most coastal areas are not a good fit in terms of value, so perhaps some of the areas around Palm Springs (e.g. Indio) that allow STR. Some interest specifically in Sedona AZ via word of mouth from friends but we need to look into it.

We are preapproved and ready to get going but need to explore our options and get as much good advice as possible. Would be very interested to connect to anyone with thoughts on those areas, in particular anyone doing STR in these areas remotely from MN or the midwest. Open to recommendations to LTR but we lose the occasional access we are hoping to have.

Thanks for reading and best regards!

Dave

[Kenneth Donaghy]

@David John Forliti If I am reading this correctly, your goal is to find property, they can act as a second home, while also being an STR/MTR, and a place you can retire, which is 10-15 years away. Therefore, it really depends on where you want to visit, establish community, maybe and easier travel experience such as direct flight. Because retirement is 10-15 years away, things can change, STR restrictions are always changing, and you may change your mind where you want to retire. My suggestion, is you visit all these potential locations with your family, and see which area calls to you, which areas you can see yourself enjoying, and allow the STR/MTR strategy take the second seat to your enjoyment and lifestyle vision for you and your family.