Thinking of buying some investment property at loto anyone else?
 

I have been looking to invest in some more vacation/rentL property. Who all owns property at ozarks? Do you rent? What is your vacancy percentage? Are there any good property managers in the area? I will be researching and spending some time up there over the next few months to get a feel for the market but wanted to see if anyone had any personal experience or input here.

We own property at the lake. Probably the time buy is now. We rented in the past and had good luck with it. Call Krantz/Remax Lake of the Ozarks if you need an agency. Jeff has a great team and has spent most of his life at the lake. His brother Mark owns a property management company.

Awesome thanks! Are u renting your property? What area is it located in?

With all the condos popping up down there is it still possible to make money with rentals?

We own a lake house down at the lake and I'd recommend Terry Summers if your looking for a good Realtor... Our place in on the North Shore area closer to the Dam.

http://www.summersatthelake.com/

Here's a pretty good link for looking at what's available down there at the moment... It has rentals, for sale and forclosure's listed...

http://www.hotpads.com/

Jim

Not renting anymore.
Osage Beach- Lands' End.
Terry Summers is also a good one to deal with, as someone else mentioned.
My 2 bedroom is for sale.

There hasn't been any new ones built it a few years.

a 3rd referral for Terry Summers.

Location like all real estate. The Osage Beach and lake ozark area are most popular for rentals. Ledges has always been a big rental property as has Lazy Days, The Knolls all have on site rental desks.

PMG manages a lot of units also if you want a professional managment co. I would bet 99% of complexes have some rentals.

It goes with out saying but get the biggest slip, a 28 foot boat fits in a 48 foot slip but not vise versa.

If you need financing contact Brenda at Central Bank 573-348-2761.

4th for Terry Summers we close on the 27th. He has been great so far

We have a condo at Indian Pointe, 17mm by water, first street in Osage Beach by land. We don't do the rental thing. We didn't use Terry Summers when we purchased, but I have called him a number of times with questions and he was always glad to help. I will most likely use him next time we need a realtor at the lake.

Never stayed at ledges we always stay at tan tara and love the area. Their estate area is where I am currently interested in. Golf course and water

Another one for Terry Summers, hell of a guy. He and his wife will go out of thier way for you and are very strait shooters.

Oh and you DO NOT want to buy in Tan Tara, you own the home but never the ground it's built on, that you have to lease... for as long as you own the home.

Their are several other areas that have the amenities that Tan Tara have with out the BS.

Another plug for Summers, we bought a condo and then a house with him. Last January he went out on the ice and used a hatchet to cut a hole and then took a tape measure to check depth. Hard to find a better agent at the lake.

If you use a management company, I highly doubt there is any way that you could even come close to breaking even with rentals covering your mortgage payments and quarterly dues for the year. The complexes with the highest rental occupancies that I know of are Heron Bay and The Ledges.

Thanks griff. It might not be the right fit for my investment and if the numbers don't work I will walk, but I hope to find a fit. If not it's another boring house in a boring high rent town somewhere lol

+1

We have a couple units and use one exclusively as a rental. I'd go the Vrbo route and avoid the management company unless you like seeing someone in your unit for the weekend yet when you ask the management company they don't have any record that it was rented tha weekend LOL.

You will be hard pressed to do full debt service but if you have other cash positive rentals it helps to offset. This last season was our best to date and I do remember we had 28 nights rented in July. I actually have someone checking in today and checking out mid january (though rates are cheap this time of year).

Make sure you get a large slip. Many have regretted only getting a slip large enough for their current boat.

Good luck and though I haven't used Terry Summers personally I know of many that have been very happy with his service.


-Josh

If you like the Tan-tar-a area there are several condo/townhome developments real close, Baypoint Village, The Knolls, Three Seasons and they're nice, also.

Good luck

Exactly Griff & with the management co fees and counting on them to keep the unit rented never even close to break even ... with a crystal ball shoulda, bought a half dozen of them in 2000 and sold in 2004 but on the brite side theres 1000s to pick from now:drink: good luck

If anyone is looking to buy, my Dad has a condo at the Ledges for sale.
3 bdrm+ loft.
[email protected]

Thanks

Terry

I started out going to rent mine but found out its hard to rent when we are there most every weekend. Best thing I ever did, Love it. I do have a friend that ownes several rental condos and he does very well on them. I saw the figures. If you would like more info pm me and will get you his number and you can talk with him directly. Good luck.

Jim Kramer (www.thestreet.com) from Mad Money had an article I read a few days ago.

5 things that you don't want to ever own:

1. 2nd home/vacation residence
2. Boat
3. RV
4. Motorcyles/ATV/Jetskiis
5. Timeshare

You can find the article on his site and of course he has a 1-3 paragraph reason behind each one of the 5 things. Obviously you have to spend your money on something so it might as well be something you love (boat, bike, etc). The argument about taxes, insurance, HOA/Condo maintenance is a tough one in S. FL for sure ( they easily total the MTG payment or even double the MTG payment!).

We have a 3 bed/2bath condo at Lands End just listed. Complete turnkey unit right on parking lot level with a great view. Can PM some details if interested.

Thanks,
Ben

When I was talking about management I was looking for someone who fixes things, and mows the lawn (if looking at a house). Not handling rentals? With me being 7 hours away we would come for memorial day, poker run, and shooting and maybe a few winter visits.