Vacation Rental in the Upper Keys

[Melanie Horowitz]

Investment Info:

Condo other investment in Tavernier.

Purchase price: $235,000
Cash invested: $90,000

Vacation Rental Investment Property - Self Manage

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

Great ROI

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

I was a property manager at my firm and that position made me realized the opportunity of investing in vacation rentals in the Florida Keys.

How did you finance this deal?

Banks only take portfolio loans with %25 down. Well worth it with the appreciation value of 10% the past 10 years.

How did you add value to the deal?

I bought at market value......

Lessons learned? Challenges?

I did a bathroom and floor rehab. Spent $13,000 and added $50,000 value to the condo.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I represented myself, Realtor with Better Homes and Gardens Real Estate.....I know all the great vacation rental investment condos in the upper keys.