Do smaller condo's in Gulf Shores generate good cashflow?
Hello,
I'm interested in investing in STRs in the Gulf Shores market. My price range is from about 280k-325k. My sweet spot seems to be right at 300k or so. For that price, generally there are only relatively smaller beach condos (2 Bed 1 Bath maybe 2 Bath) a lot of which aren't necessarily beach front but are right across the street, all of which I'm perfectly okay with as long as I know the potential is there for good enough cashflow to get started investing. Anyone in this market that can speak to this or that has experience investing in these types of condos? According to AirDNA the potential is there. I've also tried to comp out other similar properties on Airbnb to get maybe a more realistic comparison of occupancy/nightly rate, but since it's the down season it's very difficult to tell how a property will do. Nightly rates are low and occupancy is down, and I can't see other properties summer rates/occupancy yet. Any help would be appreciated. Thanks!