All Forum Posts by: Clay Asplundh

What is the best avenue to successfully sell a turnkey STR?

Selling two top producing STR properties, completely turnkey.

Combined 2023 Revenue: $566,000

Offered at $3,100,000

Both revenue figures were in their first year of operation, with future revenues projected to be $270,000 and $325,000, respectively. Properties can also be purchased separately.

At an 18.2% revenue to purchase price ratio, these properties would comfortably cash flow with financing (19.2% for expected future revenue).

For a negotiable fee and seamless transition, the seller is also open to continue managing the properties, and their reviews speak to the quality of management.

We welcome all offers and can provide more information as needed, please text me at 215-460-1572!

Who is actively investing in short term rentals in Palm Beach County? I'd love to connect with anyone in the area as an investor myself, currently with 2 STRs that I self-manage. 

Although rates have made deals harder to find, I still see 15-20% cash on cash deals out there if you know where to look! Would love to know what others are seeing and discuss in further detail.

Why I love West Palm Beach (I'm biased as I own here):

- 80%-100% occupancy in-season (December-April)

- 60-75% Occupancy out of season. Still steady supply of visitors and bachelorette parties, summer baseball tournaments, concerts, etc.

- Despite high rates and competitive market, 15-20% Cash on Cash return can still be found.

- Bullish on long term appreciation as many high net worth individuals move to the area, surrounding areas seeing luxury development, and businesses (Wall Street South).

- Majority mom and pop operators, easy to become a top listing with the right marketing and property!

I would love to connect with anyone who has questions or wants to discuss in more detail!

Hello all,

I am looking for an investor friendly agent in Houston. If anyone has any recommendations it would be greatly appreciated. Thank you!

Hey Hunter!

Prices continue to be holding steady, and even going up in Palm Beach County. With so many out of state buyers coming into the area, although many local Floridians feel the area is overpriced, many out of state buyers still find it cheaper than their hometowns (a lot of NYC buyers).

I have experience with traditional long term and short term rentals (including 2 in Palm Beach County) and find STRs as the best way to invest down here. Compared to traditional rentals, you can buy in much better locations and still find cash flow with the STR approach. Furthermore, people across the country travel down here for vacation, making the year round demand better than most seasonal markets.

When looking for a STR, look for a property that you can differentiate, whether that be a big backyard to add amenities, great location, or killer design. When looking for properties, you want them to be able to reach 15% of the purchase price in yearly revenue. For example, a 1 million dollar property should do 150k or more to make it a great deal. This quick rule of thumb makes analyzing deals much quicker. Good luck and don't hesitate to reach out with any other questions!

It will take effort to find a good deal, but there are definitely opportunities out there. Anyone who tells you they know what prices will do is guessing. Do not make an investment where you expect or rely on appreciation. Instead, focus on finding an STR that will cash flow comfortably, and has unique factors that will make it a popular choice for guests. Building a professional listing and decorating well is important too!

Most owners aren't willing to lease their property to someone doing AirBnb arbitrage. Have an extremely specific wishlist might narrow your opportunities to none, although I am not personally familiar with that market. Good luck!

 Yes. As long as it is 4 units or less, with the minimum being 3.5%.

I went to the University of Florida and have experience owning rentals there. If you want to deal with little to no vacancy, focus on properties near campus where students will want to live! Location is critical for college students as they want to be close to classes, tailgates, bars, and their other friends. There are further away areas of Gainesville that will cash flow on paper but you might be dealing with nightmare tenants and higher vacancy. Feel free to reach out to me if you have more questions!