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re: Thoughts on beach property
Posted on 6/2/14 at 3:09 pm to bobaftt1212
Posted on 6/2/14 at 3:09 pm to bobaftt1212
quote:
reasonably nice for less than 150k
Guess that depends on your definition of beach property.
Can you find an old one bedroom Condo for 150k? Yes.
Actual beach front property? You might want to add 4 more zeros.
This post was edited on 6/2/14 at 3:14 pm
Posted on 6/2/14 at 3:16 pm to SippyCup
I own on the ocean a bit north of Ft. Lauderdale. The values at one time, when I should have sold, were significant. It's leveled out.
A lot to consider. Assoc dues are usually pretty significant as concrete work is expensive. Check of CBS construction that's been updated, and make sure the deck's re-rod, or whatever it's called is the treated kind to withstand salt in the air.
With respect to any property being a good investment, it's really cash on cash, cap rate, and all the other measures that residential realtors and lenders know nothing about.
You might also want to check if there is a county tax. I pay 18% to Broward Cnty for what they call tourist tax on the rents.
A lot to consider. Assoc dues are usually pretty significant as concrete work is expensive. Check of CBS construction that's been updated, and make sure the deck's re-rod, or whatever it's called is the treated kind to withstand salt in the air.
With respect to any property being a good investment, it's really cash on cash, cap rate, and all the other measures that residential realtors and lenders know nothing about.
You might also want to check if there is a county tax. I pay 18% to Broward Cnty for what they call tourist tax on the rents.
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