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Started By
Message
Anyone own in Destin?
Posted on 4/25/16 at 2:10 pm
Posted on 4/25/16 at 2:10 pm
Looking into buying a 1,2 bedroom condo and rent it out. Anyone else have one?
5
Posted on 4/25/16 at 2:41 pm to Tigeralltheway
I have family with one at sterling sands, don't know how often they rent it out but they only go 2 weeks a summer. feel like it would be easy to rent anything in destin though
If I was to buy a condo to rent out/ have for personal use I would do Portofino in Pensacola. they are adding on two more towers and a new gulf front pool house/restaurant/workout combo thing, looks really cool. they are probably super expensive but I love the "skyrooms" or whatever they call them and you are on Pensacola but still far enough away to feel secluded. The grounds are really nice and you don't have trashy people like destin. plus access to the bay.
Damn I fricking love that place. Been trying to get mi padre to buy one but no luck. I would love to retire there, idk how much the fees are though.
how bout you buy one of those and let me stay there for free thanks
If I was to buy a condo to rent out/ have for personal use I would do Portofino in Pensacola. they are adding on two more towers and a new gulf front pool house/restaurant/workout combo thing, looks really cool. they are probably super expensive but I love the "skyrooms" or whatever they call them and you are on Pensacola but still far enough away to feel secluded. The grounds are really nice and you don't have trashy people like destin. plus access to the bay.
Damn I fricking love that place. Been trying to get mi padre to buy one but no luck. I would love to retire there, idk how much the fees are though.
how bout you buy one of those and let me stay there for free thanks
Posted on 4/25/16 at 4:10 pm to MLSter
quote:
Portofino in Pensacola
Agreed. Place is definitly on the up and up.
Posted on 4/25/16 at 5:04 pm to Tigeralltheway
quote:
Anyone own in Destin?
Looking into buying a 1,2 bedroom condo and rent it out. Anyone else have one?
You are about 3 years too late. Prices are approaching pre-crash levels. Good news is if you buy, you should have no problem covering your expenses as occupancy is at an all time high.
This post was edited on 4/25/16 at 5:08 pm
Posted on 4/25/16 at 5:52 pm to MLSter
Does anyone actually make money on the rent/vrbo side, or are they just hoping to break even and cash in on the appreciation and the free couple of weeks of lodging?
Posted on 4/25/16 at 6:08 pm to Tigeralltheway
I bought a short sale home in Sandestin resort in 2010, sold for $175k more than I bought it for in mid 2014. Now I see the home value appreciated another $100k.
I should have waited to sell but it still worked out well.
Looking to rinse and repeat, but no way am I doing it now. Wait for another housing decline.
I should have waited to sell but it still worked out well.
Looking to rinse and repeat, but no way am I doing it now. Wait for another housing decline.
Posted on 4/25/16 at 6:38 pm to Odinson
If I can break even for the first few years I would be happy. I wan't to spend around $125,00 for one bedroom. I saw some in Sandestin tgat I liked but not on the beach.
Posted on 4/25/16 at 9:34 pm to Tigeralltheway
Be careful. One of thing things that makes Destin unique is the private beach front. However, the county has been trying to "steal" that land for some time now. They cannot use eminent domain because they don't have the money. Therefore , they are trying every legal trick in the book . I can see rental rates going down when the beach In front of you has 500 people on it instead of 50.
Destin used to be special. If you rented a condo, you had to rent for the week. Now? They've built so much that you can rent per night ... In July.
Destin used to be special. If you rented a condo, you had to rent for the week. Now? They've built so much that you can rent per night ... In July.
Posted on 4/25/16 at 9:37 pm to crazycubes
Destin or SanDestin?
Posted on 4/25/16 at 9:40 pm to Paul Allen
To my knowledge , Destin.
We were in the Dunes of Destin, but recently sold out given the uptick in the market.
We were in the Dunes of Destin, but recently sold out given the uptick in the market.
Posted on 4/25/16 at 9:48 pm to Tigeralltheway
I have a condo in Orange Beach, Alabama. It is a one bedroom in Phoenix 1, for any of you familiar with that complex. I paid $200K for it a couple of years ago. It rented over 200 nights in 2015, bringing in over $26K. I don't know the percentage off the top of my head, but a huge percentage of the rents are last minute. I have 98 nights either rented or reserved so far this year and very few of those nights are past May. I expect to pick up over 100 more nights this summer.
Hope that helps.
Hope that helps.
Posted on 4/25/16 at 9:58 pm to Ramblin Wreck
I would like to own in Sandestin.
But that will be in 20 years when I retire.
But that will be in 20 years when I retire.
Posted on 4/25/16 at 11:10 pm to navy
My family owns 2 condos in destin. Give me a couple days and I'll give you some advice, busy rehabbing a long term rental right now.
You can certainly make money, but like all rental property you can't just buy a place you like and expect the return to be good. You have to find one with the right price.
You can certainly make money, but like all rental property you can't just buy a place you like and expect the return to be good. You have to find one with the right price.
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