Most seasonal businesses know you have to be resilient and aggressive for your part-time business, which is why its no surprise that many of the beach properties along the shore are impeccably kept and maintained.
This particular area of the beach included a number of multi-family rental buildings, private homes and large front yards used for beach parking. And on this less crowded strip, beach side parking revenue is easily $1,000/day.
This week, I’d like to learn how the multi-family rental buildings on the beach operate. Can you do a month-to-month summer rental as opposed to an annual contract? Is there any regulation on the rents that can be charged? Do they maintain their occupancy rates throughout the year? How do lenders look at this type of asset if you were a buyer or investor?