Short Term Vacation Property: Cash Flow & Equity

[Rhonda Cohen]

Investment Info:

Condo buy & hold investment in Miramar Beach.

Purchase price: $190,000
Cash invested: $40,000

This condo is located in the Hidden Dunes Beach and Tennis Resort in Miramar Beach (Emerald Coast). When I purchased the projected gross revenue was $24K annually. In 2022, gross revenue was $58K. I personally manage the vacation property and have garnered more than 150 5- star reviews for a property that has yet to be renovated (built in1988). Property is worth $370K today.

What made you interested in investing in this type of deal?

Long term investment for retirement purposes.

How did you find this deal and how did you negotiate it?

Internet search and worked with realtor who owned and managed short term vacation properties. Learned a lot from realtor.

How did you finance this deal?

Conventional financing, second home.