Matt J
SWGB
Thanks for the response, but once I saw the VRBO ad I believed it anyway. I'm very familiar with those townhomes and have never seen one sit stagnant for any amount of time.
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Any investment scenarios that make sense?
- Thread starter Beachgirl
- Start date
Thanks for the response, but once I saw the VRBO ad I believed it anyway. I'm very familiar with those townhomes and have never seen one sit stagnant for any amount of time.
Pirate
Beach Fanatic
I was thinking about what properties I had seen lately that I thought had a chance cash-flow wise. The market isn't covered in them but there are possibilities. I wouldn't share all of my prospects of course, but one example is a unit in One Seagrove that is on the market for the mid 300's. The rental posted in the ad is abysmal but it seems I have regularly seen these doing 25-35k per year. If you could buy this unit for say 280k, put 10k in it to spruce it up and make it photo well I would imagine it would be a top renter in the complex. With 20% down and a 30 year mortgage your payments total around 15k per year. I don't remember what the HOA fee was, around $1250 a quarter? I won't go down the entire expense list, but this property may cash flow if you have the patience for VRBO.
As a side note, units in this building have sold over 600k, so this is half of peak pricing.
Anyone know what the nicest units in the building rent like?
As a side note, units in this building have sold over 600k, so this is half of peak pricing.
Anyone know what the nicest units in the building rent like?