While investments in Key West real estate have shown a steady upward climb in recent years, there is an overlooked niche that makes sense in terms of investment. The home/condo that has a transient license that allows the property to be rented on a daily basis. This type of investment allows you to buy and pay for a much more expensive home than you would buy and let sit vacant .... the beauty is somone is subsidizing a large portion of your investment. Let's talk real numbers!
I have a great two bedroom two-and-a-half bath single-family townhouse with private pool that grossed $100K last year - $40,000 for expenses, leaves you $60,000 to pay the mortgage, taxes, and insurance. Right?
You say, yes!
It's possible... but you need a couple of things to ferret out the true money-makers from the recent condo conversions that won't come close to those performance numbers. The Key West Experts specialize in these type of properties - they're there... you just need the right guide.
