Anyone own property in PDC?

[scottschop]

Does anyone own their own property in PDC, that they rent out when they are not staying. I am not looking for a rental, I am curious about the investment opportunities. From what I read on these forums, it looks like a great market for vacation rentals. I am going to PDC in Sept for vacation, and was wondering if I should schedule some property visits as well.
Thanks

[Michele]

Originally Posted by scottschop

Does anyone own their own property in PDC, that they rent out when they are not staying. I am not looking for a rental, I am curious about the investment opportunities. From what I read on these forums, it looks like a great market for vacation rentals. I am going to PDC in Sept for vacation, and was wondering if I should schedule some property visits as well.
Thanks

My husband and I would be happy to assist you! Contact me through the links in my signature. You may want to contact Heather directly regarding rentals. She has an excellent roster of rental properties.

[scottschop]

Done..Thanks.

[mfl*s queen]

Originally Posted by scottschop

Does anyone own their own property in PDC, that they rent out when they are not staying. I am not looking for a rental, I am curious about the investment opportunities. From what I read on these forums, it looks like a great market for vacation rentals. I am going to PDC in Sept for vacation, and was wondering if I should schedule some property visits as well.
Thanks

I would say a lot depends on your budget and location. My recommendation would be to purchase without having to depend on the rental income. That is what we did, and it is a darn good thing. We are in Playacar Phase II, and we very seldom have vacation rentals. We would like to get long term rentals, but of late, not getting any of those either.

[mexigirl]

Scottschop,
My husband and I bought a three bedroom condo on the beach in Playacar ten years ago. It's been a great investment for us. But, prices have nearly triped in the past 10 years. When we purchased, highway 307 was still under construction from Cancun to Playa. As with all real estate, there are highs and lows. The rentals were nearly non-existent for the year following 9/ll. I'm not sure what will happen this coming winter with airfares skyrocking. There are a number of properties for sale on and off the beach. One can only guess the reason.
Good luck in your search!

[scottschop]

mfl,
Wow, why do you think you are having difficulty getting vacation rentals, is it location, price?
All the info on the area looks great on paper: 28% growth annually, 8th most visited vacation spot on the planet. Tourism is a main key economic indicator. All of these project to grow even more in the next 10 years, where it will probably flatten out or saturate. PDC seems to be like the old Central/South Florida, before the bottom fell out of the housing market.
I look forward to your reply.

[scottschop]

Mexigirl,
From reading the forum, it looks to me like there are quite a few regulars that go to PDC, these are the types of people I would like to cater to. You know, the die hards that absolutely having to get to PDC once a year no matter what. So, you keep the price low, hope for good tenants, hold on to those tenants and let them tell thier 3 friend about how great a place they stayed and get new tenants, they tell 3 and so on an so forth. Oh, and, it would be nice to utilize the place myself as well. I would assume marketing in the right places is a must.

[mfl*s queen]

Originally Posted by scottschop

mfl,
Wow, why do you think you are having difficulty getting vacation rentals, is it location, price?
All the info on the area looks great on paper: 28% growth annually, 8th most visited vacation spot on the planet. Tourism is a main key economic indicator. All of these project to grow even more in the next 10 years, where it will probably flatten out or saturate. PDC seems to be like the old Central/South Florida, before the bottom fell out of the housing market.
I look forward to your reply.

I really think it has to be location, as we are very reasonable, and very flexable about the price. I believe that most people want to be on, or near the beach and 5th Avenue. Our Condo is new and in a new Complex, and I have it decorated and furnished as if we were there full time.

Just know that most anyone selling real estate will tell you anything you want to hear!!

[Michele]

Originally Posted by mfl*s queen

I really think it has to be location, as we are very reasonable, and very flexable about the price. I believe that most people want to be on, or near the beach and 5th Avenue. Our Condo is new and in a new Complex, and I have it decorated and furnished as if we were there full time.

You have very nice condo in a very nice complex! You are correct about location being the key factor in rentability (not a real word). A condo or villa that is advertised to be within a 9 minute walk, or less, to the beach will be a big hit. Of course, that claim had better be at least very close to accurate. Proximity to downtown is also a HUGE plus in this area. The most important factor in whether your unit will rent or not is ADVERTISING. The most beautiful condo, in the best location will not produce unless it is aggressively promoted. There is a lot of competition here in Playa.

[mfl*s queen]

Originally Posted by Michele

You have very nice condo in a very nice complex! You are correct about location being the key factor in rentability (not a real word). A condo or villa that is advertised to be within a 9 minute walk, or less, to the beach will be a big hit. Of course, that claim had better be at least very close to accurate. Proximity to downtown is also a HUGE plus in this area. The most important factor in whether your unit will rent or not is ADVERTISING. The most beautiful condo, in the best location will not produce unless it is aggressively promoted. There is a lot of competition here in Playa.

Yes, I am sure you are correct about that. And, as much as I love our Property Manager, I am not real sure they do much advertizing of our Condo? But, at this point, having someone whom we trust and know is taking care of our Condo, in our absence, is of utmost importance to us.

And, in her defense, she knows how particular we are about our "home away from home", and are not willing to just rent to anyone.

[Michele]

Originally Posted by mfl*s queen

Yes, I am sure you are correct about that. And, as much as I love our Property Manager, I am not real sure they do much advertizing of our Condo? But, at this point, having someone whom we trust and know is taking care of our Condo, in our absence, is of utmost importance to us.

And, in her defense, she knows how particular we are about our "home away from home", and are not willing to just rent to anyone.

Well, you know I am not exactly objective about property management companies, but I honestly (cross my heart) think you are with the best one. Are long-term renters what you are looking for ideally? If so, for what length of time? You can pm me a rate if you would like to.

[Heather]

Kathy, you are exactly right. There is NOTHING wrong with your condo at all, it is beautifully furnished, well-priced, with great amenities and responsive management. Unfortunately the location is a bit farther from the beach than people tend to want. With a rental car, it's SO quick and easy, but it's hard to sell that to some people, particularly those who've never been here before.

[Heather]

Originally Posted by Michele

Well, you know I am not exactly objective about property management companies, but I honestly (cross my heart) think you are with the best one. Are long-term renters what you are looking for ideally? If so, for what length of time? You can pm me a rate if you would like to.

There are at least three very good property management companies in this town that I can think of off-hand, and yes, Kathy is with one of them.

[mfl*s queen]

Originally Posted by Heather

Kathy, you are exactly right. There is NOTHING wrong with your condo at all, it is beautifully furnished, well-priced, with great amenities and responsive management. Unfortunately the location is a bit farther from the beach than people tend to want. With a rental car, it's SO quick and easy, but it's hard to sell that to some people, particularly those who've never been here before.

Ahhh Heather, thank you so much. I absolutely love my property manager. I do understand about the location, and that is okay. As I said, we are happy with the location ourselves, and ultimatly, that is what is important. If we get rentals, it is a bonus.

[mfl*s queen]

Originally Posted by Michele

Well, you know I am not exactly objective about property management companies, but I honestly (cross my heart) think you are with the best one. Are long-term renters what you are looking for ideally? If so, for what length of time? You can pm me a rate if you would like to.

Oh, I certainly believe they are the absolute best, and feel we are very blessed to have them. I wouldn't trade them for anything. As I said, I completely trust them, and feel that they take very good care of us. Rentals are just a bonus!! We purchased at a price, where we do not have to depend on rentals to pay the bills.

Yes, we would rather have long term, and have someone there that would take care of it as if it were their own. We did have a long term last year, that was there for 15 months, who were spectacular. Always paid the bills on time, and took very good care of the place. As far as price, you would need to check with Kristin. Of course, in my opinion, it would depend on the tenant.