All Forum Posts by: Carlos Garcia

Great way is to find someone who knows what they're doing, like an agent from a known agency who does STRs. She/he will know which areas to focus on per your specific criteria including budget. With the numbers, the biggest thing right now is getting that interest rate to work in your favor. Prices already going down so if you can combine both these factors, you're in a very good position to pull the trigger and execute. Best of luck.

 Hi Steven,

Not good. Try @Lydia Pisano. She's from Hampton Real Estate Advisors who work property management and manage hundreds of properties and invest themselves.

Carlos

 Hi there. I would recommend Panama City Beach, Destin can get a bit pricey, but the Emerald Coast in general are great options. I have one in PCB and doing great with the right remote management know-how in place. If you need well-connected agents who are also successful investors, look at @Melissa Haworth and/or @Matt "Roar" Gardner

A really good way is to first write out what you are looking for in an investment. Second, do some of your own research on the local market. Third, find an agent (on Bigger Pockets or through referrals) that knows his/her stuff and can give you the lay of the land. Always look for people who know more than you and you will get to where you want to be faster. Where are you looking and what are you looking for? Long-term rentals? Short-term (Airbnb) rentals (STR)? If the latter, you can start looking in the markets with some of the strongest STR markets. A good start is short-term wealth book by Avery Carl. The short-term shop is their website and has the regional markets they work in. I wouldn't try to reinvent the wheel with STRs due to a number of reasons. If you need agents, @Melissa Haworth or @Matt "Roar" Gardner.

@Lydia Pisano from Hampton Real Estate Advisors.  I've sifted through lots of PMs and Hampton manages hundreds if not thousands of properties including SFs and MF.  They work in Orlando, Tampa, and other areas.  She is your POC.

Would also recommend @Melissa Haworth for Emerald Coast STRs if you're still looking there.  Her and her team are immersed there and are investors themselves.

Matthew, I would focus on STR markets that have been established for at least a decade before investing. You hear stories of counties flip flopping on STR restrictions and banning STRs wholly or partially in many areas where markets are not yet established. This is a big problem. If you want to stay in FL, try Emerald Coast. Like others say in this thread, you don't need to be close at all to manage it. If you need a good agent, search around on the forum for agents who invest themselves. You can try @Matt "Roar" Gardner and @Melissa Haworth as well.

 Hi Paige,

If you're looking for an STR close to the water, I would give emerald coast a try. It's a very strong regional market for STRs, particularly places like Panama City Beach. Best part about STRs is that you can do it all remotely and manage for 1-2 hours/week once it's up and running (or hire a PM). The latter I don't recommend because PMs in STR markets tend to take big chunks of your pie (much higher percentage than long-term rentals). STRs are also a good first-time investment choice as cash flow can be quite high. If interested, I would suggest reading short-term rental book by Avery Carl (check Amazon) and getting a good agent that knows what they're doing, invest themselves, and know the lay of the land. Check out @Matt "Roar" Gardner

Also check out @Melissa Haworth.

@Lei Lu

Just listed an STR. Slated to get another one in a couple of weeks. And will be BRRRing an LTR right after

Solution: Research the markets that are STR friendly and invest there.