All Forum Posts by: Mary Beth Blackwell

@Jeff CopelandYes, this is the meet-up we talked about on the podcast. I’ll be there again on the 17th.

Thank you for sharing your process, Tyler! I’m curious how you underwrote the offers.

Hi Shane,

Congrats on the new addition to your family!

I'm an investor agent in the St Pete area and work with out-of-state buyers clients with the same questions - how, where and can I STR in St. Pete. Metrics and local zoning rules and regulation awareness is the key.

I also own a small STR property management company and own two STRs out of town that I operate remotely. STR can be exciting from many angles - Cash Flow, Appreciation, and best of all.. having a place to visit while renters pay down your mortgage (even near the beach!).

In terms of STRing in St Pete. It can be done. You just need to be aware of the zoning rules and regulations for municipalities in Pinellas County. There are 27 various municipalities. The city has an excel sheet listing each muni’s code. If I could attach it here, I would but I will DM you the file so you can take a look.

As far as an agent, if you would like assistance while you're here, feel free to reach out. I'm happy to meet in person. 
If you just need recommendations for where to go, things to do, places to eat I'm more than happy to share tips.

...While you're here Please visit downtown and of course, the beaches...

Downtown is small and flourishing area with many places to go and eat that are highly walkable. (the Pier or Vinoy Park.. watch dolphin swimming in the bay while running/walking or just hanging out in a hammock between palm trees) . You will not regret going!!

Central Ave has a number of unique, local restaurants and drink spots (laundromat speakeasy with bottomless mimosas and Cuban food on Sundays).

Good luck!

Mary Beth

Hi @Fiona Dupin

I would be happy to help you out or point you in the right direction.

I’m an investor-friendly agent in the St. Pete/Tampa market at Copeland Morgan. We are a brokerage and a LTR property management company with over 1300 rentals under management in the Tampa Bay Area. 

If you are looking to STR, I own and operate a hyper local property management company for STRs called, Blackwell STR.
I’ve managed for over 3yrs and a 6x Airbnb Superhost.

Hi Pat,

It sounds like you're open to different property types and strategies.. Single family or house hack. It just depends on defining.. What is the best strategy for you in the short-term to reach long-term goals? 

This is a really good position to be in because it's really up to you! 

Strategy or goal could be anything like.. Do you want to house hack and ramp up to property #2 and scale quickly or does timing really matter? 

Size of property (# of units) or condition (rehab) and pure monthly cash flow may take priority if scaling in a short amount of time is important. If scaling isn't the highest priority, there is more flexibility in the criteria that meets your strategy -- maybe a duplex in a location that is more ideal for you personally and is a base hit property investment that gets you to property #3 and beyond over time. 

Not sure if you have looked into lending or funding just yet, but if you haven't it would be a good next step by answering 'What is my buying power?'. Answering this question will help you hone in on the best property type that meets your investment goals and personal living arrangement preference -- duplex, tri or even a SFH w/ guest house or in-law suite.

If you are looking to put together a good strategy, a good way to get there is by defining the criteria you have for an investment property. You may have already done this, but if you haven't and looking for ideas, criteria could be anything like:

Location |Property type (SFH, Multi, Etc) | Rental type (LTR or STR) | Property Class (A,B,C,D) | Property condition (Turnkey, Rehab) | Return Metrics (CoC, Pure Cash Flow, and more)

The above is the baseline criteria I run my investor clients through when beginning a property search. 

Once the strategy is in place, we run properties through the criteria and place offers and negotiate on the best prospects in the market.

Good Luck!

Hi @Rodney Menendez Yes, St. Pete as whole has mixed regulations. It really depends on the municipality we're talking about. 

St. Pete has 37 different municipalities and each defines or looks at STRing rules a little differently. By and large, most allow STRs without minimum stay requirements or the need to apply for a license. There are a few like Madeira Beach that require a 30/night minimum stay and owners register with the city. We keep a list of regulations by city as reference. 

Sarasota is a little outside of my market, so I'm not up to speed on the latest. In May, I read something about the city passed an ordinance that will place a cap limit on the number of guests allowed in the homes to 10 people in single-family districts and 12 people in multi-family districts. It would also require owners to register their properties with the city. 

@Cassidy Burns the St. Pete and Tampa, FL area is popular with investors looking to STR.

Travelers coming to the area are a good mix of vacationers and business travelers. The sports teams draw in a nice out-of-town crowd for Bucs, Rays and Lightning games.   

Bonus....

(St. Pete Beach was voted TripAdvisor's No. 1 Beach in the U.S.) 

(Corporate HQ's moving to the St. Pete area are picking up.. most recently.. Footlocker and Cathy Wood's Ark Investments)
 

@Jana Crum I began STRing 3yrs ago. Here are my personal listings if would like to take a look..

Airbnb -- Jacksonville, FL

Airbnb -- Winston-Salem, NC

Hi Gloria,

Have you seen these resources...?

Book: Rich Dad, Poor Dad for Teens

BP Blog/Podcast for Teens: How to be a Teenage Investor

Another possibility is a part-time job working for a local property management/vacation rental/real estate brokerage. It's a hands on learning experience where they can also earn some extra cash.

Hi Jenea,

It sounds like you’ve done your research running the numbers for the investment properties. Good for you!

I'm a realtor, investor and STR owner/manager/operator. I live in St Pete, FL and manage my STRs remotely from my phone. If you need any support once you've secured your properties and running them as STRs, I'm happy to assist. I also see you may look into Florida at some point for another investment. I'm building out a portfolio of investments in the state and would be open to helping you find a property in St. Pete/Tampa or Jacksonville… or partner on a deal.