Florida lo vacation rental investment is it a good idea

[Fida]

Bro

Florida lo vacation rental investment is it a good ideal. since I heard most of the expenses can be written off in taxes.

and present mortgage rate is also low. If anyone is already there please share your experience and ideas.

 

thanks

[Ryzen_renoir]

21 minutes ago, Fida said:

Bro

Florida lo vacation rental investment is it a good ideal. since I heard most of the expenses can be written off in taxes.

and present mortgage rate is also low. If anyone is already there please share your experience and ideas.

 

thanks

I have a uncle who has few rental homes in Florida , the way he works is he finds a good deal and purchases a home so that his rent is much more than EMI . 

He always tries to go for properties near downtown or places with lots of companies and avoid tourist areas . 

So is it a good investment idea ? 

He hired a estate manager to collect rents / maintenance work  and has to pay property tax .  Sometimes you get bad tenants who stop paying rent , it takes considerable amount of money to evict them and before that they trash the place .

So do you get ahead of all this with just rent ? Only if it's a good deal , unlike California Florida doesn't have stupid zoning laws that restrict building of new houses , so house prices don't appreciate so much . 

Some people also like to buy properties and use it for Air BNB but it requires a lot more hands on approach and is quite risky due to varying market conditions . He has a Orlando property that is vacant since 8 months now .

So in conclusion , it is a good idea if you come across a good deal ,

[playboys]

How to find that rental homes to buy?

[Fida]

@Ryzen_renoir thanks for sharing the details. great info !

[ganesh]

32 minutes ago, playboys said:

How to find that rental homes to buy?

Zillow, Redfin and and other real estate sites. Key here is one needs to understand the laws county has for short term rental. Long term rental is straightforward for the most part. Better to work with local realtor to discuss what you are looking for.

[Epic]

Buy an luxurious yacht and rent it out man.