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| "Every person who invests in well-selected real estate adopts the surest and safest method of becoming independent, for real estate is the basis of wealth."
- Theodore Roosevelt |
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Commercial Property Investments
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Click link above then select Commercial Properties, after that select the criteria you are interested in then view what Sarasota has to offer. |
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Rental Homes, Condos or Apartments
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I have been investing in Sarasota Real Estate since 1987. Wet behind the ears, I had bought my first fixer upper on Longboat Key for $70K with a $1500 down payment while managing a condominium on Siesta Key. This gave me hands on knowledge about rentals, home repairs, and the real estate market. I have followed it closely ever since and have always loved to share my knowledge with others. If you are interested in investing in a rental home,condo or apartment complex please Contact Me (Brian Meskil) as this is right up my alley. I have pleanty of information and materials to assist you in learning all about Sarasota investment properties. |
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Vacation Homes
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If your considering a Sarasota Vacation Home purchase, keep in mind the financial rewards that might be gained from it through rental income. According to the U.S. Census Bureau, one-half of all vacation home owners leave their home unoccupied for more than 11 months a year. Perhaps it's time to be in the other half..the ones with vacation homes paying for themselves.
There are many reasons people have a dim view of renting out their vacation home. For some the idea of "strangers" in their home feels awkward. For others, the burden of being a landlord and property manager is a big turnoff. Then there's the question of when to rent? Do I lose use in the prime season to get income? While these are real concerns, they pale in comparison to the financial reality: if done correctly, renting can bring very easy money.
What to look for
Is there a rental market in the area?
Sarasota has a year round vacation rental market in certain locations and a seasonal one in others. The amount of vacation rental income can exceed an annual rentals income in many cases.
How do you balance your own needs with the market demands to get both fun and money?
First and foremost consider your lifestyle. Since you are buying primarily for your own fun and enjoyment, you shouldn't sacrifice this. If it?s golf your interested in buy a home on a golf course. Decide when you would like to use it. If it is in the summer then renting it to other golfers in the winter is relatively easy. If you would like to use it during season then you might look for a long-term (9-month) renter (someone who is moving here but wants to test the waters first or someone waiting for a new house to be completed) for the off-season, while you use it in the winter.
On the other hand, if you buy a beach front condo , it is in high demand in the summer and winter so you have much flexibility on when you can use it yourself.
What is the average rent that I can receive?
There are many variables that will need to be explored such as proximity to the beach and pool, home size and condition, rental restrictions placed by an association or town, the nearby competition etc.
I have been a resort condominium manager and an owner of vacation rental property in Sarasota for many years. I handle all the rentals myself and can teach you to do the same. Self-marketing takes time, but often generates more qualified renters as you are not competing with all the other properties of an agent. When you conduct your vacation home search with me I will have answers to all these questions and more which will help you select a more lucrative property for your vacation home.
By far, the most important factor in success is your personal investment in the process. This means your personal contact with your renters. From a simple welcome note and local maps to a thank-you note and on-going contact, your relationship creates a repeat flow of guests who not only love your second home as much as you do but also pay for the privilege of using it. What could be better? |
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