All Forum Posts by: Andrew Steffens

 Yes I have been before, it is awesome! I saw the AirDNA article, it came to #6 because there is not a large demand of housing there so it is affordable which helps with profitability.  I am not sure how you are intending to manage, but beware the local labor pool is not the greatest and I think you may have some issues finding either decent management or finding decent workers if you intend to self manage.  It will not be impossible of course, just challenging in my opinion.

 Hey Sam! We manage 70+ units just a little bit south in Tampa area.  I am curious as a first time buyer what is drawing you to that market?

I am very up on the rules in the Tampa area but not Crystal River.  If I were you I would call City Hall and ask but then verify what they tell you with Municode.

I hope that helps!

 Thanks @Luke Rorech and @Tyler Solomon

@Reginald R Cloutier Jr I sent you a DM/Connection Request. I own a STR PM company with 70+ units serving the greater Tampa market and am well versed on the current laws of all the local municipalities. I hope to hear from you soon!

 Thats right, thanks Tyler! Also in Florida there is a state law that handcuffs local jurisdictions.  If they had a law prior to 2011 they can keep it but cannot change it.  Jurisdictions that did not have one on the books cannot make a new one.  I see a lot of people here having trouble with new laws being passed which can put you out of business overnight!

 We are in Tampa and a lot of people book houses here as it is basically halfway between Gulf Coast beaches and Orlando (stay in FL for a week and split time between beaches and Disney).  Tampa is easier on the laws and restrictions than Orlando.  Just something to consider!

 You definitely should speak with a mortgage broker as these things change all the time, and I would recommend trying to find someone who specializes in the area as well as second home loans.  However, to my knowledge the house must be a certain distance and/or have different features.  You can have a house with mountain features, waterfront features, etc

 Awesome, thanks Nick!

Sorry to hear that.  I do not have any connections there, however we have dealt with similar issues in FL.  In FL it is a right or sorts in jurisdictions that did not have a ban in effect by 2011 when a state law passed.  There have been jurisdictions that then have tried to be tricky and issue arbitrary rules like "only 100 permits issued per year" etc.  I would recommend contacting a Real Estate attorney that has experience in that field to see what options they may be able to provide.

 Congrats! Not enough people take advantage of those programs.

As a Property Manager quite a few of my clients have those loans but are rarely ever here.  From what I know you do not need to document, it is a just a written rule where you could get in trouble if they were to look into you.  That rarely happens especially if you pay the loan regularly.  You could make "owner stays" when work is being done already, take pics etc and keep a record if you are even concerned at all about it.  In my experience nobody I work with does.

I agree with most here it sounds like analysis paralysis.  Personally I would contract it and double/triple check during your due diligence period.  There are still gems out there for sure.