The short answer is you have to have a good representative and they need to understand your investment portfolio and strategies. Selling real estate for some is about paying the bills. For others it is about Doing the Right Thing One Client at a Time.
I got into this field because of my background in finance and accounting and investment managment, and keenly understand how to hold real estate assets. Some might say, "heck its 30A they will all just pay for themselves with rent its easy" and hope for the best. Sadly, no matter what any agent tells you, the vast majority of properties here, unless you own them for ALL cash, will not pay for their expenses if you finance them on typical vacation home financing terms. Some will for sure, but you also have to know how to do it. And then there are the rental agencies. I will let you discover that on your own. Let's just say its not as easy as everyone would like to think on a summer vacation week when they write that contract.
I guess, price aside, you can say owning land is easy. But when you own land you do have to pay taxes. It is then by its nature a liability masquerading as an asset. Yes of course we expect price appreciation. We all know that is not always the case. But then prices go up, and at what most would think is an unrealistically fast pace, we still think they will go higher.
How then can we turn land on 30A into an asset? I am not talking about building a parking lot for a fee. There are a number of older homes that come available from time to time. Not just an old Watercolor Home, but older homes in unique locations. These homes can be as much as 50 years old. Some cannot be salvaged and need to be torn down. Others are too risky to rent because they have weird stairs or lofts that represent a real danger.
But there are properties, and more than a few, that do have homes on them that can be rented. But let us be clear here. These will not be rental machines and the art of how to put heads in the beds of these homes is not something most rental agencies really know how to do well.
So where are these homes? Stand by and I will tell you.
Go to my website at 30aCoastalDreamProperties.com and I will have them listed for you.
I have previewed so many of these kinds of homes where the price is close to land value but where rentals can cover insurance, taxes and the expenses of operating the rental. In addition, with a lot of investigation and legwork, I have found for my clients opportunities by directly approaching properties that meet these conditions and we have achieved positive cash flow. Modest yes, but positive cash flow is possible.
This cash flow justifies owning the land and making the longer term plans for that land while the rental maintains the cost structure.
This is an area of the market where most people won't really have all the skills to know how to get this done.
I got into this field because of my background in finance and accounting and investment managment, and keenly understand how to hold real estate assets. Some might say, "heck its 30A they will all just pay for themselves with rent its easy" and hope for the best. Sadly, no matter what any agent tells you, the vast majority of properties here, unless you own them for ALL cash, will not pay for their expenses if you finance them on typical vacation home financing terms. Some will for sure, but you also have to know how to do it. And then there are the rental agencies. I will let you discover that on your own. Let's just say its not as easy as everyone would like to think on a summer vacation week when they write that contract.
I guess, price aside, you can say owning land is easy. But when you own land you do have to pay taxes. It is then by its nature a liability masquerading as an asset. Yes of course we expect price appreciation. We all know that is not always the case. But then prices go up, and at what most would think is an unrealistically fast pace, we still think they will go higher.
How then can we turn land on 30A into an asset? I am not talking about building a parking lot for a fee. There are a number of older homes that come available from time to time. Not just an old Watercolor Home, but older homes in unique locations. These homes can be as much as 50 years old. Some cannot be salvaged and need to be torn down. Others are too risky to rent because they have weird stairs or lofts that represent a real danger.
But there are properties, and more than a few, that do have homes on them that can be rented. But let us be clear here. These will not be rental machines and the art of how to put heads in the beds of these homes is not something most rental agencies really know how to do well.
So where are these homes? Stand by and I will tell you.
Go to my website at 30aCoastalDreamProperties.com and I will have them listed for you.
I have previewed so many of these kinds of homes where the price is close to land value but where rentals can cover insurance, taxes and the expenses of operating the rental. In addition, with a lot of investigation and legwork, I have found for my clients opportunities by directly approaching properties that meet these conditions and we have achieved positive cash flow. Modest yes, but positive cash flow is possible.
This cash flow justifies owning the land and making the longer term plans for that land while the rental maintains the cost structure.
This is an area of the market where most people won't really have all the skills to know how to get this done.
- How should this older home be decorated to get a good rate?
- How do we rent it, weekly, daily? Is it only really suitable for long term?
- Can we add on or reconfigure the floor plan to gain either more revenue or more certainty of rents?
- Is there a long term rental possibility?
- Is there a way to add onto the existing property?
- Is the lot in an area of high comparable values for a future tear down and build?
You have been primed. Prepare for the update.
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