I have zero experience and just starting to consider investing in a property in Florida. Miami sounds interesting (vacationers and retired people). I have this idea that the vacation properties offer a better deal (higher rent equals cash flow). But it seems very difficult to find a management company that can fully manage private investors’ properties. And if you find it, will their cost eat up too much…? Maybe a single family home, then… less maintenance and you can always count on the property appreciation in the long run. What do you recommend?
hey i am for New Zealand,
just one thing to remember with vacation property is that is is only in the busy time that is will be occupied the rest of the year it would stand empty and that is not good for business.
vacation property will have a lot a maintenance. if you’re renting by the week, u need to make sure you have a handy man who can fix stuff at short notice. also need a maid to clean out the place after one tenant leaves and before another moves in.
management intensive(that means expensive if you farm it out)
before deciding on a place to invest, learn about what macro &
micro economic indicators you should be looking for.
some of them are job growth, population growth and preferably a market that hasn’t already run up 100% in 3 years.