Property on a golf course with an HOA - do investors care?

[Joe Garbarczyk]

I'm looking at a potential wholesale deal and I had my initial conversation with the seller yesterday. She is extremely motivated to sell and wants to be out of the property by end of July at the latest. I haven't seen the house in person yet - my appointment with her is tomorrow - but I don't think it needs a ton of work.

Some details (for those of you familiar with the area):

• Located in Tequesta, FL in Martin County
• Gated community with community pool, tennis courts and clubhouse
• HOA of about ~$200 / month (not sure of any HOA rules for short term or vacation rentals)
• Backs up to a golf course
• Condition is TBD
• ARV is $350k
  

I have an idea of what I will offer , but my question is - would this be an attractive house for an investor if it backs up to a golf course and has an HOA? There would be instant equity for whoever buys it and I can see this as a great short term / vacation rental for the owner during season (November - May).

I look forward to all input and to hear everyone's thoughts.

Also, if you are located in Palm Beach or Martin county I would love to connect.

[Wayne Brooks]

An owner occupant would be your best exit. As for short term rentals, probably not allowed in the hoa as most have some type of rental restrictions....none for the first year, minimum 4-12 mo.s, tenant approval by the board, etc.  And of course,McNeil for mandatory golf memberships.