First vacation/investment property in Indio
Hello
I'm looking to buy a property in Indio, LaQuinta area. Partly for our own use, we all live in LA and vacation their regularly, and partly to help pay the mortgage. We are looking in the $500k range, 4 bedrooms, and a pool. After a quick look at the mortgage, property taxes, mortgage insurance, HOA, and the utilities and some basic bills (internet, cable, pool and garden service), I'm thinking it will cost about $40k a year.
Do the pro's in this forum think this is something that can be made back so we are close to even? I know there are some peak periods with festivals etc, but wondering what the rest of the year looks like in terms of occupancy rates.
Thanks so much