All Forum Posts by: Kyle Momany

@Khurram Thobhani I just messaged you!

@Khurram Thobhani

Welcome to BP!

STR's are doing quite well in Destin ( Including the appreciation). It is a different niche & can be lots of fun getting into. I always tell people, pick a place you would want to vacation but also consider the long term of str laws etc. In a city dependent on rentals, the laws should stay in your favor vs a city that might also have different booming industries (i.e. Atlanta, Dallas, etc)
I will send you over some links to what has helped my previous investors dive into this market.

Best of luck to you! 

@Steve Nafziger Hey Man! I couldn't agree with Joshua more. The Florida Panhandle is a STR machine! With previous investors, I've actually seen it more common to get better ROI on the units that aren't waterfront, with some exceptions of course. We have lots of growth coming to the Inlet beach area ( Between Destin & Panama City Beach). The Panhandle strives on STR, so the risk of rules and regulations against it is very minimal vs a city that has industry also. ( Atlanta, LA, etc)
Best of luck to you!

P.S. Its also an amazing spot for you to vacation , as you know :)

@Joe Solari The markets mentioned above probably have stellar returns! Here on the gulf coast (Destin, panama city) the cities are smaller and strive on short term rentals. In an area like this you have less risk of them putting in laws that prevent STRs.

Best of luck!

@Amber Hamilton If it ever crossed your mind, you can absolutely manage yourself! PM's eat up cashflow in the area. With the right tools and systems in place, you should be able to achieve this with only a few hours per month. Best of luck! :) 

@Stacy P.

I've got to agree with @Joshua Strickland. The Florida Panhandle (Panama City Beach, Destin, 30a) has stellar performance, without having to worry about the rules and regulations that the larger cities might put in place against STR. There are lots of new developments coming to area, for better traffic flow & entertainment options, such as the Margaritaville Resort in PCB.

Best of luck to you!

@Alex S. The STR restrictions are getting more & more strict in certain areas. This is why I always recommend to invest in areas that are more dependent on it ( Destin, Panama City, Etc.) These cities aren't going to put in restrictions on the one thing that brings them the most business, tourists. As far as Property management, I have to piggy pack on what everyone else has said. We have many investors , even out of country that self-manage to increase that return. With the right systems and people in place, you should be spending more than a few hours a month on your rental.

Let me know if you have any questions. Good Luck!

Not to sure how active it is in PCB, but multiple people will rent out to traveling nurses, workers, etc. during off season in Destin. They also have there own specific sites like Jason mentioned above.

Good luck!  

@Thomas Dunleavy look into the Pensacola, Fl are. Units still perform well in the short term market on the north side of town ( which is closer to the colleges)

Best of luck!

@Joshua D. As a realtor, I like to show my investor clients how I analyze deals, how I find out the performance of units, then of course how the area is. Of course I don't have time to do this on every listing, but everyday I try to look at new listings that I think could be a good opportunity, then send it to my clients. As well as ask them to send me anything they like. If they are interested, I will dive into the numbers with them. This helps build the confidence in buying an investment. Instead of just saying " yeah this will make you money ".

Good luck!