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re: Beach Condo/Townhome Investment Property?
Posted on 4/7/18 at 8:10 am to Sev09
Posted on 4/7/18 at 8:10 am to Sev09
How much did you plan for Managment?
I think 200 days for a seasonal beach home is top precintile. Probably only renting 15 days on off months.
Your Principal and interest should be 1400 at 5% which is a really good rate for a second home. Another 200 for prop taxes 400 for hoa. Not sure on insurance 100-200 a month. 200m repairs/ maintenance. So could be more like 2400.
Average rate could be lower $180 and OR 55% so $3011-2400 = $611 cash flow, this is not including management which usually charge 25% of nightly rate, and that would put you at a negative CF.
I think 200 days for a seasonal beach home is top precintile. Probably only renting 15 days on off months.
Your Principal and interest should be 1400 at 5% which is a really good rate for a second home. Another 200 for prop taxes 400 for hoa. Not sure on insurance 100-200 a month. 200m repairs/ maintenance. So could be more like 2400.
Average rate could be lower $180 and OR 55% so $3011-2400 = $611 cash flow, this is not including management which usually charge 25% of nightly rate, and that would put you at a negative CF.
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