All Forum Posts by: Pearce Trenary

Looking for any feedback as this is my first purchase. Im looking to buy a single-family home in Jupiter Florida and would like to rent it out on Airbnb (open to LTR). My budget is 400-650k. My goal is to rent it out and then in 3-4 years allow my mother-in-law to move in as she is wanting to retire in the area. I love the area however, I have done a lot of research and am having a hard time making the numbers work out in terms on COC return. The outskirts work a bit better but my wife and her mom would like to be near city center. I live in Los Angeles so will be investing long distance.

Do you have any recommendations on the area? Does this area still work? Do you have any relator recommendations that have great experience in investing? 

 @Nick Florio that is interesting, i thought treasure island and st. pete had some restrictions. Also I could not find anything in my budget. I would be interested in that area. Are the houses comparable at vero and treasure? 

I looked at the gulf (specifically PCB) however the amount of competition concerns me and it is much further away. 

@Nick Velez I really like that area but was concerned about laws however that is only because I have not done enough research. 12k gross is incredible

Hey everyone,

I am buying an STR and want to target the east coast of Florida. My research shows many promising areas but many of these spots have ever-changing STR laws which I am not a fan of. Would love to hear your feedback of where you think is the best STR region for long-term sustainability and high COC return (with my budget in mind). I live in Orlando but do not want an STR here as I do not want a Disney house and having a house near the beach is appealing to me. 

Budget: around 400-650k and my only concern is COC Return

Regions in consideration: St. Aug, Jacksonville Beach, West Palm, Pompano Beach, and PCB (i know PCB is not on the east coast but in consideration, i don't personally love the area)

Cheers, 

Pearce

@Lauren Kormylothank you, didn't even think about that. 

@Philip Williams I appreciate the feedback, helps me knock out OBX especially as I want this to be remotely managed.

@Joe Prillaman I honestly do not know any of the areas I'm looking at well.  I have pulled as much data as possible to best understand projected performance however this forum has been incredible in showing me stuff the data does not. I have narrowed down between St. Aug historic distric and Gulf Shores

thanks all I really appreciate it!

Currently, I am shooting to get an STR in OBX, Smokies, or St. Augustine for a self-managed. The goal is to get the highest COC return on a 450-575k budget that I am able to self-manage. I have found myself in analysis paralysis and know I need to jump on something soon. It has been challenging as my data conflicts with the suggestions given (i realize analysis is just an educated guess).

(OBX) On paper, OBX outperforms all areas I am looking into and it is an area I am most interested in. However, I will be self-managing remotely and I hear getting good cleaners and handymen are quite difficult in the area. Additionally, I assume upkeep on a house on the coast is going to be more than in the mountains. There is not much info on this area so would love to connect with someone

(Smokies) I have been told the smokies would outperform this area however my data says otherwise. With the prices inflated I am finding it hard to find a house that would produce the same COC returns but I also know my data may be lacking as I do not have experience in the area. I have found that 4 rooms are the sweet spot and at that point, it is the best performer however those are going for 800k+ (Possible for me but would have to borrow a good bit from friends and family and would have limited funds left remaining) Hoping at some point the market cools off as this would be the clear winner at that point.

(St. Aug) is going to be the closest location to me in distance and it seems lower risk as it is able to turn into an LTR and it is also a "driving destination". But the changes of the regulation up there are worrisome and its COC return is not as high. Logistically this is my prefered location however it does not seem too popular

With any property, I get I plan on working hard on making the listing stick out as much as possible which I know is a critical factor. 

Question: Can anyone give me any input on my COC analysis or what location they would rank as the best (best meaning highest COC within my budget that can be remotely self-managed)

COC Returns By Area Below (SELF MANAGED)

1. Smokies (2br 2bath 575k purchase)

• -Average COC = 22.13%
• -Top Performer COC = 39.28%
  

2. OBX (3br 3bath 575k purchase)

• -Average COC = 24.12% 
  
• -Top Performer COC = 43.54%
  

3. St. Aug (2br 2bath 540k purchase)

• -Average COC = 22.10%
  
• -Top Performer COC = 35.00%
  

Very interested in the feedback. I am in the same situation as well but am not living in it for a year

@Chris Mury do you think it is better COC returns than destin/pcb area?

@Matthew Edge yes that is what I have heard that orlando is still a good market however a theme is a must and it has to be in one of the resort areas that has many amenities