Tampa St. Petersburg market beachfront condos

[Matt N.]

Hi all!

I am looking at beachfront property in St Petersburg (to live in) but, ultimately, to be able to put on air bnb when we move out of it and use as a vacation home. My wife and I are STL natives and have 14 properties there but do not know the Tampa St. Petersburg market. Not necessarily looking for a huge cash flow deal but rather suggestions from anyone familiar with the area on maybe areas or condo associations to look at, specific areas you'd recommend or recommend staying away from. We'd like to be around $400k Mark for 2 bedroom - 3 bedroom and understand we may need to go a little higher. We are 29/30 age group. Beachfront looking over ocean is one criteria. 

Thanks for any help and would love to meet some investors in the area when we officially make the move!

[Michael Haynes]

@Matt N. Hello from Tampa. I also heard that St. Petersburg was not happy with Airbnb business. Here is an article talking about making them pay a bed tax in Florida.

http://www.tampabay.com/news/business/tourism/airb...

There are more articles if you do a Search online. I was looking into an Airbnb business, but, you have to "host" them. I have property in Brazil that I have to get back to and this is my time to semi-retire. I am not looking to Manage a private Hotel...The people attracted to this type of business, seem to live in one part of the house and "host" the part that they rent out. I know of one lady in Safety Harbor who bought one big house. She took out all the carpets and my friend installed dark wood floors for easier maintenance. This lady starting making enough from this one house with Airbnb to quit her JOB and she bought another in Safety Harbor, looking for more on the "A" Class side of the little town.The is another couple who discovered this some years ago and they bought all the small houses and apartments around the Town Center to just Airbnb them. My question was, "Why Safety Harbor?" Turns out that Vacationers were willing to live in a quaint, quiet, beautiful, little Town, near the Clearwater and St. Pete Beaches with some views of Tampa Bay. They did not necessarily want to live, "on the beach." The other attraction was that each year there is an Antique British Car Show.

http://atlantahealeys.org/events/29th-annual-safet...

Lasts a week and everything rents for high prices. Here in Tampa, this would relate to Conventions, The Yankees, The Buccaneers football games. Ice Hockey downtown, Bush Gardens and all the beaches nearby. One other problem is Flood Insurance. This is a Federal program and the Politicians have not solved the problem with how to fund it. Flood was supposed to go up 10% a year until they found a way. There is no way to continue to raise the cost and expect all the Owner Occupied Retired Owners to be able to afford it in their Fixed Income, Less Spending, Retirements. I am living on a double lot, on the Hillsborough River, across from the Lowry Park Zoo in Tampa. One of our concerns is how the Flood Insurance problem is going to be solved. You want a St. Pete home to vacation on the Beach and Airbnb? I would do a lot more research from here to make it work out.