Short term rental in Treasure Island, FL

[Brian McIntyre]

Investment Info:

Condo buy & hold investment in Treasure Island.

Purchase price: $475,000

Short term rental (weekly) in Treasure Island, FL. Occupancy stays above 80%.

What made you interested in investing in this type of deal?

Following a dream of owning a beach house on the Gulf coast in FL. Stumbled on the tactic of becoming a vacation rental investor.

How did you find this deal and how did you negotiate it?

Looked at properties for over a year as this area is popular with investors and finding a good deal can take time.

How did you finance this deal?

10% second home conventional.

How did you add value to the deal?

Invested around 20k on a number of deferred maintenance including new flooring, kitchen updates, paint, and basic repairs.

Lessons learned? Challenges?

No property manager will care about your short term rental as much as you do. Plan to build a team that you trust in the area that can routinely check on your property in the event you don't live nearby to perform regular quality checks.

It is easy to receive 5 star ratings on booking sites when basic maintenance and care is performed on the property. Most of your competition will simply allow a property manager to perform a mediocre job on their property.