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Updated almost 10 years ago on . Most recent reply
Vacation Rentals
Has anyone had success with purchasing vacation rentals on the gulf in Florida? I'm looking to purchase multiple condos on the Gulf in Florida. These units have a onsite management and they market the property for you. There fees are 25% of the gross rent. These units rent 1200-1800 PER WEEK.
Area:Sarasota Florida Pricing 350K-550K.
Most Popular Reply
We have a condo in SW FL (golf course community) that we purchased 6 years ago. We rent it during the season, and then use it in the off season. We still have a mortgage. We make enough money renting the unit Jan-Apr to cover our property taxes, HOA and club fees, and make a couple of mortgage payments, and get the benefit of using the unit the rest of the year. Not yet a pure cash flow play, but we are getting the benefit of assistance by our renters in paying down our mortgage. And the quality of renter that looks for these properties makes them extremely low maintenance.