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re: Rental properties - Sandestin, Seaside, Seagrove, Water color
Posted on 6/30/22 at 10:23 am to GEAUXT
Posted on 6/30/22 at 10:23 am to GEAUXT
quote:
The prices need to come down ALOT. in Rosemary prices have doubled, or more, on almost everything in the past 2 years. It's insane.
My father-in-law sold his condo near 30A in 2010 I believe. He got $170K for it. We looked up listings in the same complex when we went this year and they were going for $400K +. Amazing especially considering the association fees and insurance required to simply hold the asset.
1
Posted on 6/30/22 at 10:30 am to Aubie Spr96
quote:
Basically-it pays it's holding costs but no more. At the end of the day I'm getting an appreciating asset paid for and that doesn't suck, but it's not making me rich.
This is all I’m looking for. I just want something that holds its own. Might take a 10% nose dive in value, but in the long run (15 yrs) it’s going to fetch what I paid for it or more.
I know nothing is guaranteed, but some of you are worried about buying in the short term as you’re going to be underwater. I’m not worried about being under water for a little while, I just don’t want to drown. It’s a long term hold and usually in a long term hold you’re not going to get burned too badly. The flippers and short term deals are where you get hammered.
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