U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Old 01-28-2013, 04:39 PM
15 posts, read 35,831 times
Reputation: 20


Hello all.

I'm thinking down the road a bit, 5-6 years. What I would like to do is buy a very small oceanfront/near ocean studio or one bed condo, rent it for 8 months a year and let my retired parents live there during the winter months. I'd like to try to "break even" so to speak wherein the 8-9 months of rent covers the mortgage and condo fee for the entire year. Is this a reasonable goal?

Obviously this is a very vague plan at this point. Can anyone give me pointers as to where to get started?


- low crime
- nice for retirees
- under 100k for condo

Thoughts? Throw me in the right direction? Thanks!
Rate this post positively Reply With Quote Quick reply to this message

Old 01-28-2013, 07:38 PM
Location: Fort Payne Alabama
1,938 posts, read 2,136,148 times
Reputation: 3632
No, the only way you can come out is not have a mortgage.
In order to rent it for a decent amount it needs to be ocean front or at least across the street, for 100K or less, forget it. There is little demand for shortime rentals off the beach.
There are several expenses you need to keep in mind,
HOA fees
Taxes (no Homestead Exception)
Upkeep which in Florida can be significant due to all the licensing requirements for the contractors.
Advertising plus management company fees which can really take a bite.
[SIZE=3] [/SIZE]
Rate this post positively Reply With Quote Quick reply to this message
Old 01-28-2013, 10:18 PM
Location: Pittsburgh, PA
1,304 posts, read 2,842,129 times
Reputation: 1131
Figure that it will cost you at least $10000 annually for the general expenses (before the mortgage) that GreggT outlined in his post. Virtually all condo associations have bylaws that will dictate how and if you are able to rent your unit. Plus, you will be taking your unit off the market during Florida's prime rental period while your family stays there. Not meaning to sound brusque, but you are looking at a real money pit that will have many ongoing unpredictable costs and headaches. If you can afford the costs, it may not be enough for all of the aggravation that you will undoubtedly incur.
Rate this post positively Reply With Quote Quick reply to this message
Old 01-29-2013, 12:06 AM
Location: Broward County FL
652 posts, read 1,524,476 times
Reputation: 571
No it's not reasonable. You would need to find a tenant every year that fits into the time frame that you need, and like someone else said they have to leave for the winter which is the most desirable time here.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.

Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Loading data...
Based on 2000-2020 data
Loading data...

Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida
View detailed profiles of:

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top