Meesh P of Newport Beach, CA is an investor in Equity Residences Villa Fund and recently talked about why she invested in the fund.
Without holding anything back Meesh notes:
"These properties are stunning, they are truly beautiful, they are perfectly appointed and they fit, sometimes two even up to four families, which is great because, with young children we are actually travelling a lot with our friends."
"One of the best things that we really like about the property is that we are not actually managing these properties ourselves, so we don't have to worry about the broken toilets, and the light bulbs and any plumbing issues that are happening. The fund is actually managing it, they have their own property management system, that works perfectly and so as a property owner I'm not even having to worry about any of that."
"We are really, really looking forward to going to the Big Island, so the latest property that was purchased, there's one in Palm Beach Shores, that'll be great when we go East and we can have Grandma meet us down there and then another great property is on the Big Island. Which is, I think, it's a 5 or 6 bedroom. Every room has an ocean view, it's a gated community right over Kona and it has a sick indoor kitchen and a great outdoor kitchen with a pool. So, totally looking forward to bringing some friends with us on that trip and having a great time over spring break."
"Another really great perk is the Elite Alliance partnership which actually unlocks about 50 properties worldwide, without having to trade in our weeks from our investment we can actually look to see if there are any last minute deals."
Rentals Cover Operating Costs
"Also, they are really, really good at identifying properties that are going to be excellent in rental market situations, because they hold a percentage of the inventory of all the properties in the asset portfolio for rental on VRBO."
"When the properties are rented out, it kicks off enough cash to cover all of the annual operating expenses, so that in fact as an investor I haven't had any annual operating fees or any additional costs to put in besides my initial investment."
"In fact we have some friends in the fund who don't even take vacations through Equity Residences, what they do is put their weeks into the vacation pool and they are actually getting dividends back every single year."
To see all her comments watch the video above.