INVESTING IN COASTAL PROPERTY

[Austin Vandy]

Hey biggerpockets people!

I'd like to get some different viewpoints.

Here is my situation:

• I own a few single-family rentals with tenants in year-long leases in Omaha NE. I have two that I would like to sell and 10-31 into another property.
  • One I bought for $105k is now worth $135k and rents for $1150/month. Taxes are $2170 and homeowners is $110/month Property management is $60/month
• The other I bought for $122k now worth $165k and rents for $1230/month Taxes are $2570 homeowners is $110/month Property management is $60/month
• Tenants pay utilities for these properties

I want to purchase a property that is a vacation rental in South Carolina. Has a pool. Figures are as follows:

• Rent is typically $130k for period of March to October
• Property management will be 20%=26,000
• Insurance=$10,000
• Pool Maintenance: Unknown
• Utilities average $350/month=$4200
• Property Taxes=7,000

I live in South Carolina now and I will still have long term rentals in Omaha NE

Would you make the switch? Why or why not? Anything else I am missing here that I should consider?

THANKS