All Forum Posts by: Andrew Steffens

@Jordan Baratono - I own an STR company and have done as well as managed arbitrages before. Please make sure you do all of you due diligence as it is risky but not impossible. Feel free to shoot me a DM with any questions

Andrew

@Ankur Ba

We manage around 20-25 or so in Hillsborough and more in other counties.  We rent nightly in both county and city and have never had an issue.  Their legal right to even restrict post 2011 agreement between state and counties would be a gray area and I have never heard of anyone being cited.  Some of the older laws on the books in beach towns of Pinellas are a different story.

Shoot me a DM if you have any other questions I would love to help

Andrew Steffens

@Artem Pustovar - Im also in the Tampa area.  You are definitely on the right track.  We manage around 50 properties and are best are:

1 - New Construction

2 - Nice finishes/furnishings

3 - Unique as possible.

4 - Well located.  In Pinellas that means as close to the beach as possible and in Hillsborough it means close to attractions/highways.

Shoot me a DM with any questions I would love to help

Andrew Steffens

@Andrew Zack Jenkins - I mostly agree with everyone above, but it is not impossible. We are at around 50 owned/managed units in the Tampa area and I have seen done successfully, and unsuccessfully. We rented a mansion on the beach for $6,000 a month out of foreclosure that needed about $20k in TLC + furniture, and we negotiated 3 free months of rent. It ended up getting about $30,000k a month in revenue. That was our first venture into STR. BUT that was 2016 and we have never found a better deal since then. I think if you do it now you will need to go big as rents have also increased considerably. You will not make any money on a run of the mill 3/2 paying $3,000 a month. Utilities and operating costs and the furniture will eat you alive. You will need a $15,000+ month place that is unique on a multi year lease and maybe already furnished if possible.

Best of luck and feel free to shoot me a DM with any questions

Andrew Steffens

Hey Robert,

We are also in the Tampa Bay area and have had a few needing 30+ days.  Airbnb, Zillow, and VRBO as mentioned above have the biggest market share and I like some of the other creative ideas mentioned above as well.

There are also other OTA's (Online Travel Agencies) you should look into such as Booking.com, Marriot Homes and Villas, etc.  They do not have the market share of the other larger ones, but you will want as much exposure as possible.  Also you will want to keep seasonal pricing in mind, you will have vacancy undoubtedly so you need to maximize your occupancy.

Feel free to shoot me a DM with any questions

Andrew Steffens

Hey William!

We own/manage 40+ in the greater Tampa area, including a few in Saint Pete.  I would be happy to share some tips for our success in Saint Pete.  Please feel free to shoot me a DM.  Best of luck!

Hey Nick! Welcome to the area.  I own/manage 40 or so properties from Tampa to Naples.  I also have a brokers license and assist in acquisitions.  Please shoot me a message if you have any questions I can help you.  Best of luck!

Hey Neil - We have been navigating the STR market here in Tampa since 2016. I am happy to give you some pointers and suggestions. Please feel free to reach out any time!

We have been navigating STR market in Hillsborough/Pinellas for 6 years. I am happy to help break it down, please feel free to reach out any time!

@Steven Gore Have you looked into the Tampa Bay area? A lot of non HOA, legal areas with good returns. We have about 40 here