Cheryl Morgan - Realtor
Looking for Vacation Rentals on Hilton Head Island? Visit our
rental website at www.HiltonHeadLuxuryRentals.com
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Cheryl Morgan - Realtor
Looking for Vacation Rentals on Hilton Head Island? Visit our
rental website at www.HiltonHeadLuxuryRentals.com
|
|
Rental proformas are intended to give the buyer an idea of what kind of potential expenses and income a rental property can generate. These are just estimates and your results will definitely vary, sometimes worse, sometimes better.
We prepare these reports for our buyer clients when they are considering a purchase. More than likely all of these properties have already sold, list prices have changed, regime fees and POA fees have changed and there may have been special assessments that are not shown. In most cases we were not the listing agent for these properties. We use actual rental income numbers whenever possible as provided by the owner or their rental management company. Rental rates have been trending up for the past couple of years. Contact us to discuss!
If you are interested in updated versions of these documents or a proforma for a different property, just email us or use the contact me form on the detailed property pages when you do searches. We'll be happy to help you. These documents get out of date VERY quickly!
We try to give conservative estimates for these numbers to protect our clients. We'd rather under-promise and over-deliver so you are happy with the final results. Be aware renovation and upgrade costs are not projected. As with any product, marketing is the key to rental performance. If you have a good marketing plan, you can have good results with just about any property on Hilton Head Island.
Please be aware that the newest rental proformas remove the projected 4% annual increase in property resale value. There is absolutely no way to predict what a property will be worth in the future. There are too many variables in the current economy. Use the newest projections from this list whenever possible.
Please call or email me to discuss these rental performance estimates. It is very important that you understand how these numbers work.
Did you know you can buy real estate in your retirement accounts such as an IRA? We did it and it works great! If you are not happy with the ups and downs of your stocks and retirement funds, this might be an option. Contact us for details about our experience and then talk to your tax advisor to see if it will work for you!