It's gonna be hard to better than this in WaterSound Beach

[AAbsolute]

Can someone with local rental experience please ballpark a cash flow for this as a short term vacation rental ?

Assume 100K to complete and 50K to furnish and equip( too low?? is that realistic ?? ), out of town owner so a full service management agency would be utilized.

Will rental - expenses( management, vacancy, insurance, taxes, what else did I leave off?) come close to making the mortgage of 3383( 550K total, 20% down, @ 8.5( from bankrate.com))

It would be great to get some real world local input, thanks for any help

I'm just a regular guy lacking formal investment or banking education. I think Lot 1 which is the $450,000 home would rent for $3,000 per month in a long term rental arrangement. If someone put together a real vacation rental program there would be about $45,000 to $55,000 in seasonal rental income.

I know the home can be completed just right for either vacation rental or personal residence for $100,000. I think it could be furnished complete with everything it would need to put into the rental program for $30,000.

 

[AAbsolute]

Yea, thanks, good one, the mls said it was 1000 a quarter, but just to confuse the issue the 1000 per quarter includes Accounting, Ground Keeping, Management, Recreational Facilities, Trash Disposal, Security. I don't really know what "Management" covers, but for 4k a year I'm guessing that it is not full vacation rental property management......???

WaterSound Beach also has a full gym which is very, very nice and there is no charge for Owners per visit. WaterSound Beach has kayaks and other recreational stuff at no cost. WaterSound Beach currently has dues of about $996.00 per quarter. There's 24 hour security and several pools. Most of the pools have a cottage attached to get out of the weather. The cottages have fireplaces and living room type space as well as full commercial kitchens so Owners can have extended family or guests get together's.

 

[SHELLY]

If someone put together a real vacation rental program there would be about $45,000 to $55,000 in seasonal rental income.

What is your basis for that amount of seasonal rental income?
.

 

[fisher]

You also need to factor in community fees.

....and taxes, and insurance, and utilities, and grounds maintenance, and.......

 

[AAbsolute]

What is your basis for that amount of seasonal rental income?
.

I think you are asking why I think that amount is accurate. If so, I have built about 100 buildings in Walton County. Much of them were in resort rental communities. I choose to live where I work so I can be at my work. For about 10 years I have lived in Rosemary, Watercolor, Seacrest etc. Building these homes and living and sometimes renting these homes has given me valuable real world experience. Some customers of mine, and friends have actively rented their homes through Coastal Living Magazine as do it yourselfers. Some customers and friends have actively pursued short term rental business through local rental agencies. Some customers and friends use VRBO.

WaterSound Beach has a JOE run cottage rental agency that is heavy condo, but lacking single family residential like the subject property. They rent SFD's well. Another friend chose to go the VRBO route in WaterSound and has real solid bookings. One other person uses Coastal Living to advertise and is consistantly booked solid and gives overflow rentals to someone I know.

If your question is about basis as an accounting term, I have no knowledge or advice.

 

[SHELLY]

I think you are asking why I think that amount is accurate. If so, I have built about 100 buildings in Walton County. Much of them were in resort rental communities. I choose to live where I work so I can be at my work. For about 10 years I have lived in Rosemary, Watercolor, Seacrest etc. Building these homes and living and sometimes renting these homes has given me valuable real world experience. Some customers of mine, and friends have actively rented their homes through Coastal Living Magazine as do it yourselfers. Some customers and friends have actively pursued short term rental business through local rental agencies. Some customers and friends use VRBO.

WaterSound Beach has a JOE run cottage rental agency that is heavy condo, but lacking single family residential like the subject property. They rent SFD's well. Another friend chose to go the VRBO route in WaterSound and has real solid bookings. One other person uses Coastal Living to advertise and is consistantly booked solid and gives overflow rentals to someone I know.

If your question is about basis as an accounting term, I have no knowledge or advice.

I'll rephrase my question:

X x Y = $45,000 - $55,000

Please solve for X and Y

.

 

[Matt J]

....and taxes, and insurance, and utilities, and grounds maintenance, and.......

Hmm, all that expertise and you forget that a mortgaged house generally includes the insurance in the payment and grounds maintenance is covered in your HOA dues.

needacoolname, no one can honestly show you a cash flow for any rental property in this market. The fact is that the low groan of non existent rentals this summer is still around the corner, but you can join in the chorus of whistlers that are trying to drown it out.

 

[AAbsolute]

I'll rephrase my question:

X x Y = $45,000 - $55,000

Please solve for X and Y

.

There are only a couple primary colors, but their combinations and variations are unlimited.

There are only a couple tastes, but their combinations and variations are unlimited.

There are only a couple notes, but their combination and variations are unlimited.

To succeed in the business of vacation rentals is like any other challenge. To do your best I believe you should engage in the business conventionally, but be inexhaustable in your efforts and be unconventional to get the most out of it.

Something along the lines of this home South Walton Beach Rental - House

or this South Walton Beach Rental - Beach Cottage House

or this Florida Panhandle - House

or this South Walton Beach Homes - Home

or this Coastal Cottage See a Beautiful Sunset - House with Carriage House

or this South Walton Beach Vacation Rental - House

or this 3BR/3.5+BA Fantastic Views of the Gulf - Vacation Rental Availability Calendar

11 weeks at $3,500 with a 5 month winter rental at $2,300.

 

[Matt J]

11 weeks at $3,500 with a 5 month winter rental at $2,300.

Can you find one of these? I've never heard of one.

 

[AAbsolute]

Can you find one of these? I've never heard of one.

I've rented all over 30A month to month. Carriage houses in Rosemary are 1,000 per month, main houses can be 2,000 and up. We rented both 4 and 5 bedroom in Watercolor monthly. There are always people renting beautiful homes month to month.