Southampton NY summer rental

[Sheng-Han Kuo]

Hey, my name is Sheng-Han. My partner and I are looking to buy a Southampton luxurious residence for summer rental and personal use as well. Does anyone have experience or general advice? As a newbie in the game, it appears to be quite risky just have cash flow mostly in the summer but it appears that the return and cap rate is substantial. As many BP members are going into luxurious rental space, I wonder what your thoughts are. Thank you so much. 

[Nancy Bachety]

If you’re going to use it personally in the summer than your money might not work. Yes you’ll get personal value from it, but a big part of your income potential will go away. Of course, the best time for locals is May, June, September and October anyway.