Can I purchase a 1BR condo on Kiawah, expect to rent 23 wks a year and see a positive cashflow with mortgage?

Scott Degeer
Home Buyer
Tulsa County, OK

Looking at Shipwatch, Mariners watch condos with 20% down payment. Need to see a positive cashflow. Is a 1 BR or 2 BR a better buy for rental?

Answers (2)
Christian V. Ha...
Agent
Kiawah Island, SC

Scott,
2 bedrooms definitely rent more frequently than a 1 bedroom. The rate of return on rental income depends on how you decided to rent the property. If you rent a villa through the resort, they will take roughly 50% of the rental income generated. Obviously, if you are more proactive and involved in the rental process, and rent your villa on your own, your rate of return will be much greater. Where your villa is located and the quality of your villa will also be a huge factor in your rental income. Obviously, the nicer the villa and the closer you are to the beach the better. East Beach verse West Beach villas will generate different rental incomes as well. I can't guarantee you'll rent 23 weeks out of the year, but you'll come close and it's definitely possible to cover the carrying costs involved. Overall, rental pricing on Kiawah has stayed pretty strong, but there are more discounts for the rentals already on the books for 2009.

Do not hesitate to contact me directly if you have any questions about Kiawah Real Estate. I was previously employed by Kiawah Island Golf Resort for 5 years, as the Director of Golf Group sales but was the Reservations manager before that. I can provide you with actual rental figures and help to provide you with the most accurate and up to date information to help in guiding you to make the right purchase. Our office is also starting to manage and book residential properties on Kiawah. Right now, I am finalizing the details for a 1 month rental in a 4 bedroom, 8200 sq ft, ocean front home for $100,000.

It's a great time to buy real estate on Kiawah!

Christian Hartsel
843-364-8400
CH@ChristianHartsel.com

Wed Mar 25 2009, 08:36
Randall Sandin
Agent
Charleston, SC
FIRST ANSWER

Hello Scott - I will be more than happy to more some info for you on the above. Kiawah rental commissions are pretty high but they command a premium in rental rates and rates have not gone down much even with the turn in the economy. Charleston is so strong due to drive time to some much of the eastern US. Can you send me an email and I can get some definite info to you by the end of the week.

Thanks and please email or call with any questions,

Randall Sandin
Carolina One Real Estate
843-209-9667, rsandin@carolinaone.com

Wed Mar 25 2009, 07:37

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