All Forum Posts by: Michael Keffer

I am thinking of investing in rental property in Ocala Florida. Wondering if anyone has experience there? If so, is there any red flags such as rental restrictions, limitations, etc. Thanks

Good Evening Katherine,

Although the area that you are describing is a little south from me (I tend to stick to the Bar Harbor, Harpswell, Freeport, Yarmouth, Portland coastal areas) I can tell you that year round occupancy at 80% is a fair amount, but definitely will go down during winter.  Since beaches aren't extremely common in the sense of white sand and surf but tend to be rocky, it's not all about being on shore front; however, close to coastal attractions like Bar Harbor, downtown Freeport, and other tourist areas like Kennebunk Port will drawn in larger crowds in the summer months.  That being said some of the areas do drop down a lot during the winter just due to lack of services running, restaurants closing for the seasons, and lack of events going on; so staying in areas near the year round attractions will be very important.  I would suggest looking closer to places like Freeport (LL Bean alone attracts a lot of folks), Portland (where the Old Port is always going plus the added benefit of renting to people coming in or going out on the airline), and near Kittery (near the Naval Base where again folks coming in and out will tend to stay) if you are wanting year round high occupancy.  Another odd place that is kind of hidden as far as great short term rental opportunities is in and around Bath due to BIW (Largest employer in the state) needing to hire sub-contractors to come in and work.  I have some clients that own a house with two connected apartments that have been rented out at a $1,000 a week each for the last 2 years thanks to BIW...and I have been there...I wouldn't pay $1,000 a month to live there, but it works.  So keep in mind that places like Saco, Kennebunk, and Bar Harbor tend to shut down during the winter as we all bundle up and try not to freeze to death for the 3 early months of the year, but during the summer time they are very attractive places to rent for short term rental, but there are other more creative opportunities to those who look outside the box.  Reach out if you have any more questions or need help.

I am researching some different areas for investment on AirDNA and noticed areas that are supposed to be performing well were different than what I have been hearing from the grapevine/networking. 

Curious about what others that have used AirDNA have experienced?  Do you feel that the data is accurate for areas you are investing in?  

Bien Nguyen 

Sweet Retreats Vacation Properties LLC

Gotcha. So, I've been doing a ton of research and my gut says stay away from the markets where everyone's attention is. I don't want to end up having to compete at high price points / OpEx just to stand out in an increasingly saturated market. Not at this early stage when my liquidity / cash flow / leverage is low compared to my competitors. I also am not going to consider markets where zero STR regulation is in place. I want to buy and hold in a market with higher than average appreciation, and I don't want to worry about regulations coming in and making STR impossible/too difficult. Also, regulation limits supply (sometimes this a huge advantage if you know your competition is significantly capped). Perhaps these are thing you've already been thinking of, but sharing my POV in case helpful. So all that to say that I am not clear on which place to focus on but getting closer! I really appreciated the new 2024 report from STR Insights. The list provides names of places I've never heard of, which means others probably haven't either :)

What’s been holding you back from pulling the trigger @Nicholas L.?