Beach town property

7 Replies | Long Island, New York

Hello,

I am looking to investment in a property that will bring positive cash flow by short term rentals & where I can relax with my family on weekends during off season. I can invest in a property of up to $450K. Any suggestions would be really appreciated.

I live in Long Beach and during throughout the summer months I see people walking with all there beach chairs, coolers and boogie boards from the train station to the beach in the morning and back to the station in the afternoon.  On the weekend it is like a parade of beach goers every hour when the train comes in.  There are two hotels in town and they are not cheap to stay at so you may have a niche here if advertised properly.

I have seen seen properties advertised on the MLS for as little as $1,000 for a week and more during memorial day and labor day weekends.

There are plenty of two family homes available for sale and plenty more that can be converted so you and the family can stay here and relax and still make money in the process from renters occupying the second unit.

Another market you may want to consider is the North Fork of Long Island is another great place as the vineyards are open year round and in the later winter months they have Jazz on the Vine to drum up some business.  Me and my wife usually drive out there once a moth and spend the day and on occasion will also stay at a B&B or hotel.  Other than the vinyards that North Fork also has Tanger Outlets, an aquarium and tons of great restaurants.

If I can help you out any further please feel free to PM me.

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Fire Island and Montauk are places that demand really high rents during the season (Memorial Day through Labor Day).  Having lived on Long Island my whole life I can say that the homes and condos on Fire Island and in Montauk are completely booked each and every year!  They seem to sell themselves as far as seasonal rentals go.

There is a home for sale in Davis Park, Fire Island.  It's expensive for me so I haven't run numbers on it.  It is killing me though!!!!  Would love to have a property there.

Since you want to use it for family, I would suggest a place you would want to visit.  Then see if the numbers works out.

I am looking for a lake place, but when we found out spot, we decided to just VRBO it. hahaha

the numbers didn't make sense.  

So bottom line, is what you want and what is investment may not be the same thing ;p

Originally posted by @Jordan S.:

@Francene Iaizzo your not talking about one on 655 Rt Of Way Walk are you?  Place looks sweet and I am with you that it would be awesome to have a place there! 

I'm not sure what the address is. I found it on Craigslist. If you go to craigslist put Davis Park Fire Island in the search bar and that property will come up. 

We should buy it!