Investing in Va. Beach Condos- Summer Weekly Opportunities
I often get asked about the opportunities to invest in a condo and be able to rent it out weekly. Most of the condos in Va. Beach have restrictions on renting them out short term. However there are a few in the Resort area and on the North End that will allow weekly rentals. In Sandbridge Beach area … there are many more opportunities for weekly rental investments.
Price ranges go anywhere on the low end of $165,000 to well over $500K, depending on how close it is to the boardwalk or beach. Condos 2-6 blocks back off the beach still have great investment potential and some bring significant weekly cash flow, even a mile back off the beach, so don’t think you have to always have a water view.
Take a look at the video below to get an overview of some of the weekly rental condos. Many sell quickly, as most condos at the beach require 6 month or yearly leases. The best time to buy a weekly rental investment is November through March. Owners typically have little cash flow coming in and still have all the expenses. By April … owners see the summer weekly bookings starting to fill up and then see $$$ signs and are less negotiable in pricing.
If your looking for the right investment …. or just want to have a vacation beach home and want to rent it out for a few weeks to help pay the bills … give me a call and I can help you with the planning and investment analysis of specific homes and condos.
Virginia Beach,Va. Real Estate Sales and Solutions – Rick Sterling, Broker – Realtor Specializing in the cities of Virginia Beach and Norfolk, but also serving the cities of Chesapeake, Portsmouth, Suffolk, Hampton and Newport News and Cape Charles on Virginia’s Eastern Shore. All commonly referred to as Hampton Roads.
“We Market Houses and Sell Lifestyles” 757-642-1212