Long distance rental property near the beach.

4 Replies

I've been on and off this website for close to a year, however my wife and I have dreamed of living near the beach in Florida for many years.  Currently living and working in Kentucky.  Our oldest starts kindergarten in the Fall of 2015.  

We go back and forth on:  

  1. A) Moving to Florida
  2. B) Buying a place near the beach to rent out and within 2-3 years spend summers there and rent it out the rest of the year (my parents did something similar).
  3. C) Renting our house in Kentucky and moving to Florida

We have equity in our house ~$30k, just need the guts to pull the trigger.  Since we're expecting our 3rd child in May of 2015 I'm thinking this is the year for research and not a big move.  

 From everything I've read on here its no secret this is a wonderful community.  I welcome all encouragement and advice.  

Thank you!

    David,

    I, too, am from Kentucky.  I am also interested in purchasing a Florida home and renting it when I am not using it.  Please keep me updated on your research.  I am extremely interested and share your goals. 

    Shaun Roberts, Esq.

    Shaun, hey man enjoying the cold?!  Are you new at this like I am?  

    welcome!!!

    We are hoping to pull the trigger on a vacation rental in the next 18 month! I am hoping to buy 1-4 places and turn into a vacation empire. Start looking at vrbo and seeing what rents the best. There are tons of people on here that are making it work!

    We self manage lo distance "normal" leases so my goal is to create a system to do the same thing with my vacation rentals!

    Hey @David Zachery  and @Account Closed  , I spent the last 5.5 years in Louisville and just made the move down to FL (Ft. Myers area specifically).  If you're on the fence about moving/investing here, I'd say now probably isn't the best time to jump in.  There is a lot of demand and prices have been going up quite steadily (even since we moved 4 mos ago).  If you can hold off 2-5 years and wait for a nice drop in prices you might be better served.

    That being said, don't ever come down here in the winter or you'll have no choice but to pick up and move.  Leaving in the 20's or teens and landing in the 70's or 80's once or twice is all the motivation a relatively sane person needs to pick up and move.

    We're extremely happy with the decision to move, but we had no children or any family in Louisville to consider either.

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