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Updated over 12 years ago on . Most recent reply

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Chris Moore
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200K to invest - How's Saint Augustine Florida?

Chris Moore
Posted

Hey all! I'm contemplating buying an ocean front condo in the Saint Augustine florida area. I currently live in New York. The property would be a vacation rental that I could use with my family (maybe spend 4 weeks a year down there). I would like to rent it out the time that I'm not there. The condo association will rent the properties for me and the weekly rents can be pretty high. I've stayed at the place before and It's really nice with a few pools and right on the ocean. How can I get an idea of vacancy rates for the units? Also any ideas as to how much they will charge for renting it out ? I assume it's not part of my maintenance fee. Is this a good area to invest in real estate? I currently own a 3 family building in Brooklyn New York (I also live in it). It's been a great financial decision and I've gotten so lucky with my tenants. I have about 200K to invest so was thinking about buying more than property down there. The one would be a second home/rental property so I would want it to be very nice.

Thank you all!

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