All Forum Posts by: Shawn Stinson

I think the unit will appreciate as well. We could cash flow if we used vrbo. It Def doesn't compare to our SFHs from just a cash flow standpoint.  I feel like they will appreciate better than my SFHs.

We just bought a phoenix 2, 1 bed/1 bath.  We have 4 SFHS that will cash flow more.  We bought this to have a place to use a few times a year.  We should break even on cash flow using a property manager, using it personally, Assuming 10% maint, and 1k/year assessment.

Thanks for the information Shari! The HOA (POA) dues for the condo we were looking at were actually $305.00/mo. How did they manage their unit from long distances? We were actually thinking about managing ours. We only live 30 minutes from Gulf Shores. Did they send someone in them between occupants to check the property for damage? Did they just hire someon to clean it? Thanks for the information again!

Just figured out it looks like insurance will be less than $50/mo because common insurance is handles in HOA dues.

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?

Shari, Did you ever purchase anything in Gulf Shores or Ft. Morgan? If so, how's it goign so far. We were thinking of doing the same thing..