Own Property in Destin (Long Question)

Surfside is meh. Not bad, but not overly attractive either.

I own in Tops'l. Have you checked there? Condos are all pretty much updated with a few things to be done here and there. Great community and I rent mine out all year long and the place is constantly filled with guests.

Yes and no, 30A is extremely expensive and will be the most expensive gulf beach area for the foreseeable future. That doesn't mean there's not still great investments every where else. 30a doesn't have a harbor or gulf access, much fewer golf courses, and a lot less little kids activities like no water parks. 30a and the beaches are also getting very busy, I was out there bike riding on Mothers Day and Rosemary Beach was very busy. It used to be the place you could go and get away from people, it doesn't have that appeal as much anymore. Not saying that's all bad or a deal breaker, I'm just saying in 5-10 years when it continues to grow I'll be curious how it is.

Additionally, 30a is going to get hit like a sum bitch at any real estate market slump. There are people that are imo idiots buying $2-4 mil houses multiple blocks off the beach. Beachfront lots are going for $2mil plus, which still compared to places like California and Miami aren't bad, but it's the people buying 6,000 sq ft houses for $3 mil in watercolor 5 blocks from the beach that are going to be hammered in any market slumps imo.

It's a seller's market right now, if you can sell I'd do that and not be in a hurry to buy something right away unless it's a great deal. Prices are very high, almost impossible to find anything that gross rents for 10% of purchase price.

I don't disagree you but would like to point out that a ton of people are moving to Nashville and the 30A is the closest beach to Nashville (unless you want to argue Gulf Shores, Orange Beach, etc.). I think Mexico Beach/Port St. Joe is the next hot spot. For people coming from Nashville though the extra 45 minutes to an hour is a deal killer. As a result, I am still looking at 30A. I think prices will stabilize and maybe come down a little. If you are in the right location with the right amenities (pool, convenient beach access, walking distance to restaurants, etc.) your place will hold it's value and/or at least still command premium rental rates.

I sold 2 units in 2016 we had in Ariel Dunes. We purchased as foreclosures in 2010 so I had a great return on those.

We had a home (not a rental) in Santa Rosa beach (beachside but not beachfront) that we sold in 2015. We decided to purchase in Miramar because 30A was just getting too crowded and it can be as much as an hour closer during peak traffic times.

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I actually think the west side of 30a in dune Allen and blue mountain is under talked about.

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I guess it's relative, but those areas are plenty talked about. We stopped going to Blue Mt because it had become so crowded. Spent a week there every June for about 15 years. Last time we went(2011 I think) we had to chase people out of parking in our driveway every morning. Rosemary was just starting to get popular then I think. There used to be nothing past Seagrove when we first started going.

We go to St George Island now. Much more laid back and was less crowded. But a haul.

All of 30a is like that now pretty much outside of a few smaller pockets that are secluded and off of the road. Yeah 5 years ago Blue mountain and Dune Allen were Prime but now it's Rosemary, Seacrest, inlet, and the rest of East 30a. The prices of east 30a are absurd now is all I was saying. Can easily be 1.5-2x dune allen area.

I love the forgotten coast and PSJ as much as anyone, but what's always going to keep it secluded is the drive can be 1.5-2 hours further if not further depending on where you are coming from and the bugs. The no see ums and flies can be horrendous.

Thought about buying a condo in the Navarre area. I would like to use it maybe 2 weeks a year then rent out. Can you make decent cash flow on properties like this even if it is just 1?

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amgslg

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would you care more to share a little more detail of what you have invested and what you rent out for.

Can you make positive cashflow in the orange beach/perdido area with a 2 bedroom in the 300k range?

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Are you looking to pay cash, 20% down, or what

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I would like to put 20% down on a 30 year note.

Doesn't have to cash flow much, but would like to cover the mortgage and expenses so I at least come out nothing and it appreciates over time.

We own a 3 bd beachfront at mainsail in Miramar. Literally, 2 minute walk from condo to beach chair. We have been thinking the same thing about selling. We don't rent it out, but are using it less and less each year. Owned since the early nineties.