Rocky Point from the skyMany People who come to Rocky Point dream of someday owning a property in this little piece of paradise. Who can blame them with Real Estate prices keep driving themselves higher and higher and the relaxed atmosphere, Who hasn’t had dreams of owning a vacation home? Especially one that appreciates as much as 25% a year.   Depending on  your preferred way to spend your free time, you may long for a Beach Home in Las Conchas because of the American amenities or the Privacy of one of the outer beaches such as Encanto, Playa Miramar or Dorado. Maybe all that maintenance is something you would rather not have to come down and deal with so you would rather choose one of the beautiful Condo Projects on Sandy Beach.
Whatever your choice is once you have purchased your dream and fix it up with the touches that show your personality and taste you might find that either your not visiting as often as you thought you might, or those payments are making it hard to get away from your job. After all property on the beach is not cheap anymore.  making that vacation home a reality can be a lot of sweat equity.
We find now that it’s not just wealthy people that own second homes for vacations; it’s mainly clever folks who figure out ways to own the getaway of their dreams. Prospective vacation home buyers must realize is that finding a second mortgage may be easier than paying for it. Don’t neglect to plan for the added cost of  another power bill, phone bill, bank trusts, HOA dues, repairs and upgrades when you analyze what you can spend.
A vacation home can be used as a fun getaway for a few weeks each year for the family, but imagine how helpful it will be to your budget to rent out your seaside castle. Renting your property  can conceivably bring in enough income to pay either for a large portion of the mortgage each month quickly lessening the financial burden.
The key considerations of how much you can charge and how often your property will rent is its location, proximity to the beach, size, sleeping capacity, amenities, furnishing and the overall condition of your place. During peak seasons in high use areas – rentals soar every year with more and more nights occupied and more rent charged per night. If your not sure how much to charge per night a good rule of thumb is to take around 1% of the value of the property and start with that as a per night rental price during normal season. This number isn’t always where you’ll end up, but it is a good start.
Many people who try to rent on their own find out that unless they are an accountant, telemarketer, marketing agent, lawyer, security guard, maid, and handyman such a task becomes quickly overwhelming. Having professional management is essential.Having a staff to oversee your property, take care of your renters, pay your bills, handle your taxes, and to ensure that your investment is protected is essential when your away. A good Rental Management team takes a lot of the headache out of your investment and increases your net return.
Rentals may or may not make your payments for you. Usually they will not make 100% of your mortgage unless you have an exceptionally unusual property that generates great demand for it, or you had a large down payment so that your monthly installments are reduced. Even with this in mind Renting your property can greatly increase you ROI over the years and ease the financial burden of your vacation property.
Written by: Steve Schwab, CEO For More information contact   




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