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Started By
Message
Beachfront house: Good investment
Posted on 5/28/25 at 10:08 am
Posted on 5/28/25 at 10:08 am
Specifically, PCB/Destin area.
Is insurance available?
Is insurance available?
20
Posted on 5/28/25 at 10:15 am to N2cars
Great store of value. Great investment? Maybe for your family. Not for making money.
Posted on 5/28/25 at 10:19 am to N2cars
The prices were driven very high after Covid. Seems unlikely tk make sense for a “good” investment until after another crash. Yes there is insurance, but it is stupid high.
Posted on 5/28/25 at 10:19 am to N2cars
quote:
Is insurance available?
You may have just answered your own question.
Florida beachfront property insurance is an absolute nightmare right now. Very few choices and nothing cheap or reasonable. Most panhandle beach front property is also sky high as well to buy and if you're not buying in cash, mortgage rates obviously suck.
This post was edited on 5/28/25 at 10:21 am
Posted on 5/28/25 at 10:20 am to I Love Bama
That's what I'm thinking...
We would rent it out to produce income.
Rents have went up 10% per year and still bookings are solid for beachfront.
We would rent it out to produce income.
Rents have went up 10% per year and still bookings are solid for beachfront.
Posted on 5/28/25 at 10:22 am to thunderbird1100
Thats pretty much what I would think.
Even high-dedutible?
Even high-dedutible?
Posted on 5/28/25 at 10:36 am to N2cars
Prepare to bend over for insurance and property taxes. And your mortgage rate will be insanely high
Posted on 5/28/25 at 10:54 am to N2cars
Bookings started slowing down as of last summer
Posted on 5/28/25 at 10:55 am to TheOcean
Some of these houses are generating 250-500K gross rev per yr.
House cost is 3.5-7.5m., depending on size/age. Thats for gulf front, w/ pool.
Insurance, taxes, property mgmt fees.etc..
House cost is 3.5-7.5m., depending on size/age. Thats for gulf front, w/ pool.
Insurance, taxes, property mgmt fees.etc..
Posted on 5/28/25 at 11:02 am to N2cars
quote:do it
We would rent it out to produce income.
Please check back and let us know how it all works out plz
Posted on 5/28/25 at 11:24 am to N2cars
quote:
N2cars
It sure seems like you have it figured out already and don’t really want advice. Go speak to an agent and start crunching the numbers.
Based on what my friends are dealing with that own houses/condos and based on the several threads on here that I’ve read, it’s not near as good of an “investment” as you think.
Posted on 5/28/25 at 11:24 am to N2cars
quote:
Some of these houses are generating 250-500K gross rev per yr.
House cost is 3.5-7.5m., depending on size/age. Thats for gulf front, w/ pool.
You have enough dough to buy a $3.5M-$7M house? Why are you even here asking questions
Posted on 5/28/25 at 11:29 am to notiger1997
I honestly don't, which is why I came here.
There's likely people here that have real-world experience with this.
I don't like rental property generally, and have very little.
In this case, we would use a property management company and pay the fees.
There's likely people here that have real-world experience with this.
I don't like rental property generally, and have very little.
In this case, we would use a property management company and pay the fees.
Posted on 5/28/25 at 11:30 am to thunderbird1100
B/c I know what I dont know.
Posted on 5/28/25 at 11:47 am to N2cars
quote:
We would rent it out
Okay
But it will not
quote:
produce income.
Posted on 5/28/25 at 11:54 am to N2cars
I'd look for a location/quality that attracts cash buyers who can self insure.
Low end is more affordable up front, but the all those mortgages requiring a certain amount of insurance coverage is gonna be an anchor.
Low end is more affordable up front, but the all those mortgages requiring a certain amount of insurance coverage is gonna be an anchor.
Posted on 5/28/25 at 12:24 pm to Billy Blanks
Not following you...
If you mean it won't produce net income, that's entirely possible.
The real profit would come on the sale of the property, just like any residence.
Assuming continued appreciation...
If you mean it won't produce net income, that's entirely possible.
The real profit would come on the sale of the property, just like any residence.
Assuming continued appreciation...
Posted on 5/28/25 at 12:26 pm to N2cars
Store of wealth
Posted on 5/28/25 at 12:28 pm to N2cars
Prices in Destin seem very high now. Condos that were $250k in 2010 are 600k now. I have to imagine the people who bought in at $250 are doing very well with revenue. Seems like a a tough time to enter into the market. Maybe it will keep appreciating. Maybe it crashes. Who knows.
Posted on 5/28/25 at 12:34 pm to GeauxTigers123
You likely could not find a house with a higher cost of maintenance than one directly on the ocean/Gulf. Salt eats houses, so you're constantly replacing things.
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