I am looking to purchase a rental property around Lake Martin but did not know how well these properties rented. Does anyone have any insight into vacation rentals here or long-term leases?
@Christopher Cogdill I believe the good homes on the lake stay rented throughout the 12ish week summer we have. It’s all about location and proximity to marinas and restaurants. If you purchase and get the rental prices right, that should cover your mortgage and expenses for the year(obviously maintenance can vary dramatically from one property to the next). Then everything else is profit. The barrier to entry is high, but it can be done.
Are you looking to get any utility out of the property?
I’m specifically looking to buy our first investment property. We moved to auburn last July and I’ve had a difficult time finding something that looks like it would cash flow. I’m still trying to learn the market here.
Chris, I am in Auburn, the market here is pretty hot. My company Three Sixty also has a lake martin branch. I could connect you there and I would love to talk to you about investment properties here in Auburn too. Shoot me a message on here!