Talk of The Villages Florida - Rental property advice

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Quote:

Originally Posted by kentucky blue (Post 484342)

Smart decision,i've been in real estate market for over 30 years.I've bought and sold over 100 properties, for my own account in that time frame, and continue to study the markets on a daily basis.After buying in TV i looked at the possibility of purchasing investment rental homes.After ALL expenses and potential rental income, i came to the conclusion that generating an ACTUAL positive cash flow would be difficult to achieve on any consistent basis,if at all.The only way it makes any sense for me, would be to do a 1031 tax deferred exchange for one of my rental homes in Lexington.If you have some extra money just burning a hole in your pocket, in this current financial environment buy AT&T stock,great dividend with some stock appreciation and NO management headaches.

My wife and I have bought and sold over 25 properties the past several years. We are down to two homes----a condo up North to visit the grand kids and get away from Florida in the summer and we own one here in TV. When you put a "pencil" to a rental here in TV its difficult to make it work. Good advise---Buy AT&T, Verizon, J&J or some other dividend paying stocks and enjoy life as much as you can!

Thanks, everyone!

for all your insight. Ultimately, we agreed with the majority of the posters. Decided not to invest in either a Villages rental property or a beach property, and I have to say that all the input helped.

I am also looking to buy investment property in TV BUT with one option none of you have figured into your equation. I will rent yearly, according to what others in the know have been telling me yearly rentals are in great demand. There are many people wishing to live in the villages who do not want or can not afford to buy but can afford to pay rent.
Kentucky Blue and 9922 any thoughts? dsned

You will find some wanting four to six months. Renting for a year to make it work is a unfurnished home and they pay all utilities. Still depending on the upkeep or the mortgage a break even may or may not be in the picture. Most just rent to help with costs until they move down

Quote:

Originally Posted by dsned (Post 504297)

If you are prepared to take money out of your pocket every month to pay for all your maintenance expenses, plus taxes,insurance, and fees, go for it.I'm not even including a mortgage payment or any replacements of appliances or mechanicals.As a pure investment that generates a true cash flow i could never get the numbers to work in any situation .I would love to own an investment property in TV,but after realizing the price i would have to pay for a property and the postive cash flow i would receive after expenses,it wasn't a viable investment i wanted to pursue. I've always believed you make your money when you buy investment real estate and not when you sell.At the current prices in TV, my best advice is to purchase a home as an owner -occupant and live happily ever after.

Thank you all. I expect you just saved me thousands of dollars. I too have considered buying a TV residence for income. I am sure some have made it work as I have seen several posters that have more than one rental.