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Updated about 2 months ago on . Most recent reply
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Investing in a condo vs townhouse as a traveler
Hello Everyone! I am a traveler therapist. I live and work 3 months in Florida fort Myers/Bonita spring area and travel for work 9 months out of state. I am looking forward to buy my first condo or a town house in fort Myers/ Bonita spring area and would like to rent it out when I am not in the states. I would like some honest opinions/ experiences from everyone about my crazy plan!
1) I am wondering if it's doable to manage a condo/town house with tenants when I am out of state seasonal 9 months per year. I have good friends and a handy man that I can rely in Fort Myers/Bonita spring area when I am away and I will be able to rent out the entire unit seasonal for snowbirds. However, I don't know from a practical point of view if it's doable
2) Condo vs townhouse vs cashflow: I noticed condos and townhouses are way cheaper in fort myers FL ( however risk of hurricanes) and maybe more opportunity for cash flow. Bonita spring way more expensive but less chance of hurricanes( from the last 30 years ) and less opportunity to cashflow. Anyone can give me their experience in renting out condos/townhouse in Fort myers vs Bonita spring in FL and what they would do if they were in my position?
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@Jason Wray,@Stetson Miller. I appreciate your help. Both of you provided important information.
It's true @Jason Wray that Florida is always a hotspot. And yes hurricanes are not that common but I should be prepared
@Stetson Miller good point about finding a good HOA. That would be the key element + no rental restrictions