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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I have a very small beach cottage (Under 1K sqft) and did a 1031x and have no mortage. The place is booked solid all summer and I have about 30% occupancy the rest of the year. This place is NOT at a beach like OBX, it has visitors year round. Since it is in a "real" town I am not held captive so some sort of management monoply. I have 2 people on call for small things that arise.

Gross Income in 2025 was 77K. Property taxes were 5K, insurance was 1800, utilities and internet was 6400, Shoulder season refresh and updates was 2800. Cleaning fees was 3640 (including some special cleanings). Service calls were $485. However the house got a full gut remodel when we purchased it so we built for durability and low maintenance. We went higher for durable materials.

It works for us, but probably not as well for people who have a mortgage. it also works for us beucase we love the house and would probably be fine if we didnt rent it at all.[/quote]

Where is a "real" town with beach cottages that's busy around the year, if you don't mind me asking?[/quote]

It's in the North End of Virginia Beach (not the Hotel Zone).  I'm wall to wall in summer and get people in year round for all kinds of reasons. Believe it or not there are a ton of random events in VB.  Also with it being near the worlds largest Naval Base, we have so many people in and out. We are oceanside and people often combine whatever they are in town for for some beach time. Oddly this February I was fully booked. That is a new one![/quote]

VB….I’ll pass. Redneck Riviera[/quote]

NP- I thought that was Destin FL! 😂[/quote]

anyone with half a brain could’ve told you it wasn’t anywhere in Florida. The taxes on that property are way too low for it to be Florida. The insurance on that property is way too low for it to be Florida and Destin is not a place that has a high summer rental draw. [/quote]

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