Condos from Panama City to Fort Morgan | TigerDroppings.com

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CourseyCorridor
TBD Fan
Baton Rouge, La.
Member since May 2012
1994 posts

Condos from Panama City to Fort Morgan



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.








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ThaBigFella
LSU Fan
baton rouge
Member since Apr 2006
2043 posts

re: Condos from Panama City to Fort Morgan


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





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notiger1997
Member since May 2009
23944 posts

re: Condos from Panama City to Fort Morgan


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 bull shite will eat you up.
If you want a place to vacation and might rent it out a little, this might work for you.






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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
72610 posts
 Online 

re: Condos from Panama City to Fort Morgan


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






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CourseyCorridor
TBD Fan
Baton Rouge, La.
Member since May 2012
1994 posts

re: Condos from Panama City to Fort Morgan


Appreciate the feedback all





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DontTazeMeBro
Tennessee Fan
Gatlinburg, TN
Member since Oct 2011
137 posts

re: Condos from Panama City to Fort Morgan


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.





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OTIS2
LSU Fan
NoLA
Member since Jul 2008
27869 posts
 Online 

re: Condos from Panama City to Fort Morgan


Check the financial stability of the condo association. You don't want to buy into a money pit.





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