Galveston vacation Rentals

[sellinggalveston]

I just had a client tour beachfront homes and I confirmed my 10% theory about Galveston vacation homes... Many of the nice beach homes in Galveston can make 10% or more of the home value. We were looking in the 400k-600k beach-front range and many were bringing in 40k-60k / year. I went on REALTOR tour not long ago and saw a 1,000,000 home with 100k in rent. I think that's pretty good from what I can see across the country... where homes are priced higher but vacation income is lower or the same.

We manage over 50 Vacation rentals and most make 10%... in fact I just put one on the market that I sold to a client over 2 years ago and last year it did 30k in rentals and so we just put it on the market for $335,000... with repeat rentals it should do over 33k this year!

What sort of rental income percentages are others seeing in Vacaton markets?

[sellinggalveston]

I just sold a client a new beachfront in pointe west for 399k... What a steal. It is a 3/2 that will generate over 50k in one year of rentals...

[sellinggalveston]

it is sumer time now in Galveston.... It felt like 90 degrees yesterday!

[ryan01]

Yes, with the right marketing and the right company, homes that are appealing with views can do Very well. The heat has definately stimulated people into booking for the summer!!