How’s the return on investment in Port St Joe, Florida….specifically, Windmark Beach? This is a common question my wife and I get being realtors, an insurance agent, and property manager.
Short-term renting or “STR” can be profitable, some cases in our area are as high as an eight or nine cap-rate. In Windmark the market is busy-growing DAILY with new homes and hungry/competitive owners and even though profits may be good, it’s nice to have a real understanding of what that means for you before buying. Personally, I’ve seen homes bring in (Gross income) well over $30,000 and even as high as $54,000 over the past year or so. A major factor before buying is learning what expenses look like for your specific home! Furnishing your home is often overlooked with the DR Horton purchases. Not only do you need to pay 10% down in most cases for an investment property but then you need to buy ceiling fans, blinds, and all of the furniture and gear you would like to offer guests. It’s pretty typical to see a golf cart, game room, an abundance of beach gear offered to guests at the homes throughout Windmark. If at all possible, look for homes on the market that are furnished or even better – turnkey (Ready to rent and maybe even with bookings you could keep if you purchase). As of today, we have 3 of these “turnkey” homes on the market but we are showing them daily to potential buyers!
The Windmark HOA loves fees, as do most property managers so it’s vital to work with a trustworthy, honest, and knowledgable Realtor and property manager BEFORE buying to help you cut costs and find you a deal.
Before you spend a lot of time researching, call Renting the Coast. We manage 13+ properties in Windmark and we have them from Phase 1 to North Windmark, we would be happy to point you in the right direction and we can provide you with the BEST Windmark agents to work with.
