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Gulf Shores/Orange Beach condos - good or bad idea to buy?
Posted on 3/6/17 at 1:33 pm
Posted on 3/6/17 at 1:33 pm
Looking at maybe buying a beach condo, would use it to rent out. Anyone here with any tips, thoughts, advice? We would be financing the purchase, not sure of lender options.
4
Posted on 3/6/17 at 1:43 pm to Captain Want
Make sure to run the numbers with condo fees and insurance included. From what I hear those costs can actually be greater than the financing costs.
Posted on 3/6/17 at 2:49 pm to Captain Want
Seems like values down there are pretty high these days. I would be worried about timing the market wrong
Posted on 3/6/17 at 4:09 pm to Captain Want
When people say the insurance on a beach condo is insane I am just confused. I own a pretty pricey oceanfront place in Florida and my insurance is $2100/year I just paid it and they actually took another $300 off bc I had sprinklers inside and sent them pics. I don't see how a $500k or less condo in orange beach can have ridiculous insurance.
Posted on 3/7/17 at 3:39 pm to Captain Want
Like a previous poster said. Break even at best
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