I would look at:
- the town - how many beaches, things to do, taxes, rules that the town has for rentals
- property with a rental history already - try to buy the existing client list so your empty weeks are fewer
- property with a history of the same landscaper, plumber, electrician, etc. and ask them if the owner was cheap or not.
- interview management companies - ask for references, look at the properties they already manage (on their web page because they'll give you the nice ones if they aren't all nice.)
- learn the rental laws, forms, procedures, etc.
- If you plan to rent off season, the town is more important because some towns don't have the same need for off season rentals.
- rental demand for the area you like. You may like an area that is not necessarily a good rental area.
- ask a lender what requirements for down payment, insurance, etc.
- ask an insurance company about insurance, dogs, pools, flood, etc.
I know this guy can be a helpful mortgage person: firstname.lastname@example.org
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell
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