All Forum Posts by: Alice Wilimzig

@Stephen David Smith Jr.

Hi Stephen, thank you for offering your help. The condo I am looking at is on Belleair Beach and the houses in Largo where no minimum lease is required.

@Mya Toohey

Thank you, Mya. This area has so much potential it is just hard to make the first step and buy the first property. Thank you for your insights in regards to a house vs a condo.

@Jon Crosby

Hi Jon, yes I have included the HOA in my fees and that is my concern. If I do not rent out, I have to absorb the totality of the charges.

@Matt Dunlap

Hi Matt, many thanks for your message. There is another unit that is very successful in getting rented every month, guests come back each year and rent sometimes several months. You are right, they certainly ask for a discount when renting for a longer time which I have to take into account.

Hello all, I am looking for your recommendations regarding my first buying decision for a rental property. I live in the Tampa Bay area on the beach and have the possibility to buy the ocean facing unit over my unit that I am currently renting directly from the owner. It is 3 bedrooms for an asking price of $550k which is below the market value but it would mean that I put all my savings into the downpayment, some renovation work and furniture. The monthly fixed cost for mortgage, insurance, taxes etc will be $3,600 which I should be able to cover with the short term rental income. But the min lease requirement of the condo is 1 month which means less cash flow than a property that can be rented out for a shorter period. I wonder if it would be more beneficial to buy a house 5 min from the beach in the $400ks allowing me to keep some cash and to rent out more often. But those houses tend to be over-prized currently vs this condo which is below the market value.

I thank you in advance for your recommendations and insight.

Thanks,

Alice