All Forum Posts by: Mandy Groom

Quote from @Matt "Roar" Gardner:

As an agent and investor along the coast, I've also started looking at the Sun Coast (Tampa/St Pete and surrounding) -- I've found some pretty cool opportunities over! 

Have you found anything interesting, @Jason Edward Watts?

You've piqued my interest! I live in Clearwater Beach and would love something close to home. I've never really looked because of how strict the STR regulations are here, or at least I thought they were. Is there some hidden area down the coast I don't know about? Do tell! 

Quote from @Michael Baum:

Hey @Mandy Groom. I don't use the online tools much. They are as fine tuned as an algorithm can get.

They biggest issue is that they pull what they can from available listings. The more listings the more data and the more accurate the results.

So if you are looking in the Pigeon Forge area, you will get better, more accurate results. If you are looking in Bumblenard, maybe not so much.

I use the enemy method pretty much exclusively. I can see the listings directly. What the pics look like, the amenities and what they are charging. I can see how things are progressing with occupancy for the year.

Some areas will simply do well due to the area. A beach front property, a lake front, maybe a mountain retreat. If they are all setup well with plenty of style and amenities it will do well. Mediocre places don't.

If you stick with a vacation area that gets a lot of visitors, you can succeed. It will come down to purchase price and expenses of course.

This is a tough time. Interest rates are high and everything I have heard and read (and I really watch) they will continue to go up for the forseable future.

Just keep on the hunt and save every dime you can so you can jump if something pops up.

 @Michael Baum Thanks for the response. 

Seems as though the enemy method is the best way to hone in on the data. 

I agree it's not the best time to buy. I also think the paper dollar is vulnerable at the moment and feel a sense of urgency to convert it into a tangible asset quickly. Quite the conundrum!

I think you misread my post. I use AirBNB but I don't use AirDNA. I find it inaccurate overall.

@Michael Baum This is the first I've heard anyone say this and I find it refreshing. I'm in analysis paralysis in securing my first STR at the moment, partly because I can't get my numbers (gathered from PriceLabs and enemy method) to even come close to Air DNA's. On top of that, Rabbu adds another layer of confusion. Do you have a favorite tool to recommend?

@Andrew Steffens

What percentage of your STR's in Tampa would you say are families on vacation vs. young professionals/other demographics? 🤔

Thank you all for the info. 

@Stephan K.

It's unfortunate that Clearwater is so strict, theres so much opportunity in downtown Clearwater and with the city trying so hard to revitalize the area, especially around Cleveland Street, I would think they would welcome investors to help transform the neighborhood. Most of my rentals in Atlanta were in a similar environment and did very well. Bummer.

@Dan Maciejewski

Thanks for the links. I had not come across the first document before...what a mess!  

Are some condo buildings on the beaches exempt from the str laws if the condo association allows it? A quick search on Airbnb yields tons of results all up and down the beaches as well as in the above mentioned areas inland. I came across one couple that owns 16 units on St. Pete Beach alone. I guess I'm just surprised that either that many were grandfathered in or that there are that many people breaking the law. 

So for now, is it safe to say that Gulfport is virtually the only place to legally operate a str? 

Greetings,

I have a few questions regarding short term rentals in the Tampa Bay area. Upon doing some research, I've realized that there is a ton of conflicting information out there and I'm looking for some clarification.

As I understand it, str's are against code compliance within the City of Clearwater as well as St. Petersburg. I'm also finding that similar laws are currently being established in most other towns is the area, if not already in place.

After searching Airbnb and VRBO, I've noticed that there are several str's in the areas listed above. Are they just operating illegally? Are the laws not really enforced here? (I recently moved here from Atlanta and that would NOT fly there) What am I missing?

Does anyone know of anywhere in the Tampa Bay area (preferably the beaches) that is more welcoming to the idea of str's? 

TIA for your help!