All Forum Posts by: Paul Pratt

When something becomes popular... everyone does it. Especially those who don't know what makes an STR good. No, you can not buy any property, do little to no renovation, finance it and expect to have a solid return. People on vacation still have standards.

If you need a good landscaper let me know! He does my listings quick and affordable. I will say any photos that are highly edited stick out, and agents/buyers sometimes avoid them.

Absolutely, I can send you the Daytona STR map and provide you with any questions you may have. Feel free to message or email me!

Daytona Beach! Message me I can send you zoning information on permitted areas along with restriction free STR zones!

It all just depend, I've had investors get fines and others one street away have not had any issues even if the zoning was off. I would suggest everyone do numbers on the conservative side, in case you start to get fined. However its pretty clear cut here where you can and can't have an STR. With that said, it also doesn't stop a lot of people from doing them if they are outside of zoning.

 Agreed, luckily in this case it was a blessing in disguise! 

Hey everyone,

I figured I would share some info on mid-term rentals in my area, and help you build a strategy in case it's something you've been considering. So one of my contacts is a successful airbnb operator in the area (over 10 properties) and he actually made a mistake in buying a property without realizing it wasn't zoned correctly. However, it was sort of a blessing in disguise. He applied the same strategies in regards to renovations and furnishings. For a 3/2 SFR home on beachside, he was grossing $5800 a month on average compared to a long term rent rate of $2600. His clientele made up mostly of snowbirds and people displaced from their condos from storms. THE 2 KEYS are this, 1. Have a solid renovation budget and 2. Make sure you furnish everything as if it is a STR!

Hope this helps, how well you prep your property will reflect in the rates. If you do the bare minimum, expect nothing more.

It will take a while to make that passively. After operating expenses and insurance, (unless you have a STR scenario) you will be surprised how little you will cash-flow in this market out of the gate. That being said, make the right long term moves and one day it will flow well. Just be patient and don't try to squeeze too much out of a property on the first go.

Are you sure it could rent out for $4,800 a month? Make sure you are certain your numbers are correct, verify your sources first because that could be off. 

BUT if it's correct and theres no crazy flood insurance then I would absolutely keep it and rent it out. Unless you have other investing projects you want to use the cash for.

 @Ryan Martin I work local in the area, shoot me a message. It depends on the exact location. But, in short, no you do not need to be on the beach to have solid numbers.