Quote:
Originally Posted by DaleDivine
Had a couple of friends here in TV that were happy when they finally got rid of their villas. They were losing money every year plus they did their own maintenance...
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I don't know how they could lose money with a patio villa. Last year a unfurnished PV would have brought in about $17,000 rented for the year. The cost of taxes, bond, insurance, fees, water, and lawn maintenance is between $7,000 and $8,000 per year leaving about $10,000 profit if you don't have a mortgage. Two years ago Patio Villas were selling for under $200,000.00 if you would have a return of 3% on some type of investment you would have only made $6,000.00, at 5% you would break even but would not have had the huge appreciation over the last year or two.