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re: Good location for a vacation rental purchase as an investment?
Posted on 7/25/22 at 6:08 pm to goofball
Posted on 7/25/22 at 6:08 pm to goofball
Lake Oconee 1 hr away, with 3 top 7 courses you can play in the state in a 15 min radius. Tons of great areas to hike, rivers to go down, etc. Not sure what their isn't to do in that area.
And yeah, cheapest house with 4 beds is 600/night on airbnb for masters week. That's not including taxes, service fees, cleaning. So 1 week a yr it makes 3-4, months mortgage.
And yeah, cheapest house with 4 beds is 600/night on airbnb for masters week. That's not including taxes, service fees, cleaning. So 1 week a yr it makes 3-4, months mortgage.
Posted on 7/25/22 at 6:53 pm to TDsngumbo
I’d wait a little bit, but a one bedroom condo in the Orange Beach area is doable and will come close to paying the mortgage if you are not going to stay in it much. Be aware of HOAs and expect depreciation if others are going to be staying in it weekly. Also, management companies are going to eat up 25-30%, but it is almost impossible to keep up with on your own if you are out of town and work. You may be able to do it with larger units, but one bedrooms are going to be the best bet
Posted on 7/25/22 at 7:07 pm to TDsngumbo
Now is a terrible time to buy. Prices are high and interest is high. Rents are coming down due to the economy and post Covid international opening up.
For your income, you definitely need to wait.
For your income, definitely look at a 1 bedroom that’s not a panty dropper on the outside but updated on the inside and has amenities. Those rent well for the purchase price and are exactly what you are looking for.
As said, 25 weeks rent for a place within 1 block of the beach is the gulf norm and a better place can get 35-40+ weeks rented. I have a condo that rented over 300 nights in 2021 and none to ‘snowbirds’ but that’s not the norm. The gulf coast is damn near a 10 month rental season.
For your income, you definitely need to wait.
For your income, definitely look at a 1 bedroom that’s not a panty dropper on the outside but updated on the inside and has amenities. Those rent well for the purchase price and are exactly what you are looking for.
As said, 25 weeks rent for a place within 1 block of the beach is the gulf norm and a better place can get 35-40+ weeks rented. I have a condo that rented over 300 nights in 2021 and none to ‘snowbirds’ but that’s not the norm. The gulf coast is damn near a 10 month rental season.
This post was edited on 7/25/22 at 7:08 pm
Posted on 7/27/22 at 9:15 am to Sput
quote:
If you want a place to go on vacation and cover some of the costs by renting it out a beach condo is great. If you are truly wanting it as an investment then there are 1000’s of other ways to invest your money with way better returns especially in this crazy condo market.
This is one of the most accurate & insightful things I have seen posted on this board.
Posted on 7/27/22 at 4:39 pm to texn
St. George, Utah area. Nightly rentals 30 weeks a year, low HOA’s and plenty of yearly outdoor activities.
Property runs $300 to $600 a foot.
Property runs $300 to $600 a foot.
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