Hey All,
I've been looking at beach houses in Outer Banks, NC and have found properties around $500k that say they gross approx $70k/yr. My rough math said that translates to about $30k/yr in cashflow (paying a manager).
I've got about $120k in equity tied up in a house in UT that could serve as the 20% down for that (UT house is rented and cash flows about $600/mo).
Does that sound realistic? Are there other locations I should be looking at for vacation rentals? Any feedback is appreciated!
I've been looking at beach houses in Outer Banks, NC and have found properties around $500k that say they gross approx $70k/yr. My rough math said that translates to about $30k/yr in cashflow (paying a manager).
I've got about $120k in equity tied up in a house in UT that could serve as the 20% down for that (UT house is rented and cash flows about $600/mo).
Does that sound realistic? Are there other locations I should be looking at for vacation rentals? Any feedback is appreciated!
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