All Forum Posts by: Emanuele Pani

Hey Matthew I think a lot of it will be determined by what you are looking for and what type property you want. As people mentioned you have some new condo projects in Miami that do allow STR that could be a good option if you are looking for that type of property but you can also still find SF in non HOA community that make great STR properties (Deerfiled Beach, Pompano Beach, Hollywood, Fort Lauderdale etc). First step would be for you to get pre-approved so you know exactly what your budget is, a great option for you would be a second home loan that would get you in the property with 10% down and you would be looking at some great rates since it's a second home loan.After that you will have to put your team together and get rolling from there :) Hope that helps

@Danick Joseph maybe he could look into refinancing his house since he has so much equity in it instead of doing a second mortgage. The rate on the refinance right would be crazy low. I don't have a lot of experience around student loan debt but I'm sure a good lender can help him figure that part our or at least help him create a plan but with that much equity he wouldn't be very leverage at $140,000 so I wouldn't image the refinance process being too hard. Hope that helps 

@Kyle Varner We definitely have a high season, two shoulders and a low season. In my experience high season is December to March with shoulder seasons November and April and low season May to October. As far as getting data for you to analyze I would suggest investing in https://www.airdna.co/ for the specific city you are looking into, the gather data from Airbnb and VRBO and can give you a good gage as how the market is. Let me know if you have any other questions I can help you with 

@Anthony Torres yes even tho that all depends on what your criteria is, but if you are looking for a 8% return is going to be hard to find on a LT with a SF. The main advantage of STR is that they allow you to better cash flow in our market. Lake Worth is a good spot East of US1 for you to do them and down south Fort Lauderdale area (I have a few I manage in Wilton Manors) but Fort Lauderdale overall is friendly. I also like Deerfield Beach and Broward.

@Anthony Torres more or less. Be mindful with Delray as well as they have limitations on STR rentals there as well (can only rent 3 times x year).

Hey @Ali Kattan I would suggest investing in getting some hard data from https://www.airdna.co/ and reverse engineering from there... what I mean by that is look at all our market here and see which ones are showing the best numbers and see from there which one is most compatible with your needs, style of investing and of course budget. Keep in mind data from Airdna only shows what they pull from Airbnb and VRBO and it does not account for direct booking reservations. Hope that helps 

Within the city limits of Boca you are not actually allowed to do STR even if the neighborhood allows it if you are caught by the city they will shut you down and fine you but as a few people have mentioned most communities wont allow it. You would have to look at unincorporated Palm Beach side of Boca to be able to do STR (easy way to see what area of Boca is actually Boca is to just goggle Boca Raton and you will see the limits of the city of Boca anything west of that is fair game). In terms of finding data I would suggest investing in https://www.airdna.co/ Hopefully this helps let me know if I can answer any other questions

Hey Nick, I have units in Palm Beach and Broward are we are seeing great occupancy and night rates as of lately. I would suggest looking into https://www.airdna.co/ for the data of that specific market but I would assume what's happening down here is some what applicable up there as well. I would say 3 bedroom 2 bathroom house with pool is going to be the sweet spot for you with the goal to host 6-8 guest. When it comes to advise on do and don't just make sure you are clear on city regulations and I would advise staying away from HOA communities as they will most likely limit your ability to do STR and even if they don't now that could always be a vote away from happening. Hopefully that helps.

@Andrew Haney I also look at the market stats from pricelabs which I use as my dynamic pricing software.

We have definitely seen a nice grown and we are back to pre-COVID occupancy rates, the hardest month was April but mostly due to the number of cancellations we received. We have seen a clear change in guests behavior mostly when it comes to how far in advance they feel comfortable booking (used to be a couple months and it's now a few weeks to just even a few days before), their expectations as far as cleaning goes and also the length of stay (more and more work-cations so we had added desks to every bedroom as well as upgraded WIFI) . I think moving forward our numbers are going to keep getting better for a combination of reason but leading ones will be the fact that people don't yet feel comfortable with the idea of a hotel (shared spaces, elevators, shared ventilation etc) and the reality that since people are staying for longer you can't beat the comfort of having a full size apartment with kitchen and washer and dryer to a hotel. When it comes to your question about data I would recommend looking into getting a membership to the zip code of city you are interested in at https://www.airdna.co/ and really start getting to know your market and what works in the area, I would focus on playing around with the rentalizer and see how projected revenue can change based on number of beds etc.