Gulf Coast Vacation Rental
Does anyone have a waterfront vacation rental on the beach in AL, MS, or FL? We go by the 50% rule w/SFR. With a waterfront beach house we wouldn't get this type of cashflow. The reason we're interested is because we believe these prices will increase rapidly leaving us behind. If anyone has one, can they show me the nubmers? I don't think I could even break even, but I would like for someone to prove me wrong. It appears we could buy a condo for 180k. It looks like we could bring in 18k/year. We would prob have to pay over 20% for prop manager, 300/mo HOA dues, and 300/mo insurance. Does this sound right?