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re: What are the ins/outs of buying a beach condo as an investment?
Posted on 7/27/14 at 8:55 pm to TJG210
Posted on 7/27/14 at 8:55 pm to TJG210
Discussed this at dinner last night with a friend that has owned one for around 12 years. She would love to sell it, but it is now valued at 65% of what she paid for it. Even though it has solid occupancy during peak summer months, she still considers a good year to be one where she is only in the hole 4-5K.
1
Posted on 7/27/14 at 10:06 pm to EA6B
Depends how you look at it. One really needs to have an accurate apod done if their objective is investment. So for example in the post above, is the owner really 4-5K negative every year? I don't know. What's the cash on cash, what's the return on equity? Cap rate?
For years I never had positive cash flow on my South Florida resort properties, but I wouldn't go so far as to state I "lost" money every year. That is a fairly simplistic way to look at it.
For years I never had positive cash flow on my South Florida resort properties, but I wouldn't go so far as to state I "lost" money every year. That is a fairly simplistic way to look at it.
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