Flipper/Rehabber · MD · Member since 2008 · 89 posts · 34 votes
I am looking for a little insight on the Vero Beach area. I am wanting to do a buy and hold, and maybe a flip in the area. I would like to get a better understanding about what's been going on there with long term rentals.
We currently manage 18 unfurnished annual rentals in Vero Beach and rarely have a vacancy for more than 1 month. Advertising right now for June 1st occupancy on a 3/2/1 townhome and have 10 inquiries, so we can be selective on choosing tenant. Rents have increased steadily since 2010, but so have purchase prices. The above unit would sell for $170,000 and rents for $1,350. Small single family has best ROI - a $150,000 house rents for $1,450. I'm having difficulty finding anything worth flipping lately.