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How many people own a condo in Gulf Shores? Is it worth it?
Posted on 7/27/14 at 10:07 am
Posted on 7/27/14 at 10:07 am
Thinking about getting one to use during the summer and all and curious how many people have one and how often do you use.
During offseason do you rent it out? (Which is what I'm thinking about doing)
Just not sure if I would use as often as I think I would
During offseason do you rent it out? (Which is what I'm thinking about doing)
Just not sure if I would use as often as I think I would
This post was edited on 7/27/14 at 10:08 am
16
Posted on 7/27/14 at 10:10 am to tduecen
No expert, but seems to me that you should use it during the off season and rent it during peak season to make it work.
Posted on 7/27/14 at 10:13 am to tduecen
quote:
During offseason do you rent it out? (Which is what I'm thinking about doing)
You need to keep it rented as often as possible. Block off a few weeks out of the year you'd like it for yourself. Gotta rent it during the season to pay for it. It'll rent for a fraction during the offseason if you're lucky to keep it filled.
Better check into the HOA fees. It'll eat you up.
Posted on 7/27/14 at 10:13 am to tduecen
As long as you don't fool yourself into thinking it is an investment then go for it. The odds aren't in your favor if you rent it out all year. Only renting it out in the winter? You're losing money.
Posted on 7/27/14 at 10:14 am to tduecen
If you like the beach, yes. I much prefer the off season.
Posted on 7/27/14 at 10:16 am to tduecen
Also you may want to look into the Destin area. The snowbirds keep most of the properties rented during the offseason. Not so much in Gulf Shores.
Posted on 7/27/14 at 10:23 am to I Love Bama
Well would be myself, friend, and brother splitting cost and going when we want during summer type of deal.
I'd have more freedom than most and would probably live in it for the entire month of July
I'd have more freedom than most and would probably live in it for the entire month of July
Posted on 7/27/14 at 10:24 am to tduecen
Gulf Shores beaches get crappier every year.
Buy in Florida.
Buy in Florida.
Posted on 7/27/14 at 10:24 am to tduecen
Seems like an awesome idea if you're not in it to make money. I wish I could afford it.
We have a thread on the money board right now you should check out.
We have a thread on the money board right now you should check out.
Posted on 7/27/14 at 10:26 am to I Love Bama
Yea none of us would be looking to make money, just wondering how easy it is to rent out in the offseason to help reduce the cost.
Posted on 7/27/14 at 10:26 am to tduecen
quote:
Well would be myself, friend, and brother splitting cost
soon to be ex-friend and brother who you only see at xmas.
This post was edited on 7/27/14 at 10:27 am
Posted on 7/27/14 at 10:27 am to Lab
quote:
soon to be ex-friend and brother who you only see on xmas.
So true.
Posted on 7/27/14 at 10:28 am to I Love Bama
Agreed.
I hope he doesn't do this.
I hope he doesn't do this.
Posted on 7/27/14 at 10:34 am to tduecen
Won't be an investment to flip. It will be something you purchase to enjoy, fix, maintenance, & maintain on your own because you enjoy the area, and enjoy going to OB.
When you are to old to keep going to OB just try to sell it to one of the offspring or all of them and let them sort out the weekend details.
When you are to old to keep going to OB just try to sell it to one of the offspring or all of them and let them sort out the weekend details.
Posted on 7/27/14 at 10:36 am to tduecen
Some banks are requiring 30-40% down on them right now after the got fricked in 08
Posted on 7/27/14 at 10:41 am to yellowfin
That may be a deal breaker 10-15% is one thing
10-15% is one thing Posted on 7/27/14 at 10:42 am to yellowfin
Fin, can you even get decent insurance on them?
Posted on 7/27/14 at 10:46 am to tduecen
just get a timeshare instead
Posted on 7/27/14 at 10:48 am to Lester Earl
quote:
just get a timeshare instead
No. Just no.
Posted on 7/27/14 at 10:48 am to tduecen
I think this is thread #3 in the past couple hours on this.
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