Reply to Considering Buying A Beach House and Will Rent Out (OBX)

Forum Index » Money and Finances

Reply to "Considering Buying A Beach House and Will Rent Out (OBX)"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]I have a rental in OBX I got in foreclosure. Doesn't seem like many people here have actual experience with this.

#1 no idea where that poster got the idea that due to rising sea levels it is uninsurable. Maybe too many Al Gore movies? Our home is insured.

#2 I am not in love with the home. This is an investment.

#3. Hassle? What hassle? The management company handles everything.

#4 the net? Out home rents, during high season for 7500/wk. We also get some rentals off season. Last years P&L after all fees all maintenance, absolutely everything netted us $62,000.  This is mainly because our purchase price was phenomenal and we paid cash. We did sink 150k into upgrades and furnishings up front. So our entire purchase price was 750k. One block off the ocean front.

This is not our best investment and has been more of a pet project. I would not buy a beach house full retail.  ONLY via foreclosure or short sale. I'm sure many opportunities will be on the horizon as the economy is what is sitting on sand right now.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics