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Started By
Message
Condos from Panama City to Fort Morgan
Posted on 6/4/13 at 11:59 pm
Posted on 6/4/13 at 11:59 pm
I'm looking to buy one somewhere in that stretch that I'll also rent. Anybody on here do this? If so...
1. Does the Florida side -- Destin in particular -- rent better than the Alabama side?
2. Is Alabama much cheaper in taxes?
3. Has it been a good cash flow investment or is it more about just getting some money back on your vacation home?
4. What was your loan experience, if any?
Any wisdom the money board might have would be greatly appreciated. Thanks.
1. Does the Florida side -- Destin in particular -- rent better than the Alabama side?
2. Is Alabama much cheaper in taxes?
3. Has it been a good cash flow investment or is it more about just getting some money back on your vacation home?
4. What was your loan experience, if any?
Any wisdom the money board might have would be greatly appreciated. Thanks.
3
Posted on 6/5/13 at 1:00 am to CourseyCorridor
Go to Miami insane appreciation, my building has some units that were $950k last year going for $1.7m now the appreciations are wild. One building the apogee some units are up $4-5m UP since 2009 bottoms
Posted on 6/5/13 at 7:25 am to CourseyCorridor
Every time these threads come up on here the general response seems to be that you shouldn't go into condo deals if you are looking to make money. HOA fees and other bullshite will eat you up.
If you want a place to vacation and might rent it out a little, this might work for you.
If you want a place to vacation and might rent it out a little, this might work for you.
Posted on 6/5/13 at 7:29 am to CourseyCorridor
quote:
more about just getting some money back on your vacation home
this
The only way you will make money is on appreciation if you time it right
quote:
What was your loan experience, if any?
If you can get financed it will be with a sizable down payment
Posted on 6/5/13 at 11:57 am to yellowfin
Appreciate the feedback all
Posted on 6/5/13 at 7:52 pm to CourseyCorridor
If you do decide to purchase... I would recommend using Smartbank. I just bought a house in TN and they were great. I think I remember them telling me they just opened a few offices in Destin area.
Posted on 6/5/13 at 9:02 pm to CourseyCorridor
Check the financial stability of the condo association. You don't want to buy into a money pit.
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