Will a Beach condo pay for itself by renting it ?

There's a thread on this a page or two back if you want immediate responses to read.

Well. If he paid cash for it and rented it out every week for 30 years he might have a chance.

If it paid for itself and made a profit, wouldn’t the developer keep the unit for himself? Instead of selling it to the poor schmuck in Louisiana? They make their money by selling them for several hundred thousand and then profit off the maintenance fees and rental fees/cleaning fees, etc.

My parents do. But they bought it in 1985 for 80k. Not sure if you could with today's cost.

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Thinking about buying one.

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Don't listen to anyone else in this thread. I have one in Ponte Vedra.












Interested in it by chance????

You get a discount if you buy it with Iraqui Dinarcoin...

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have a buddy who bought one about three years ago in Destin. It's profitable for them and they use it a handful of times a year

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Highly unlikely. I bought one in 2009, very near the bottom of prices and paid cash. I'm only making 5-6% or so after expenses, and my expenses are very low. Prices are up 25-40% from 2009, so I very, very seriously doubt anyone is even covering expenses today, even if paid with cash. Finance it and you have zero chance.

People who are 'making money' put 50% down and are cash flowing, but don't understand what 'making money' means.

Boy have I got a great deal for you

PM me for details

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If it paid for itself and made a profit, wouldn’t the developer keep the unit for himself? Instead of selling it to the poor schmuck in Louisiana?

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I've seen this posted a lot. I know what you mean, but you never know what's motivating the seller to sell. It could be:

-they just want the instant liquid capital instead of the long-term monthly income

-an inheritance that fell into their lap that they don't want

-someone tired of managing the property

-someone who has fallen on hard times and needs the money

-someone who had the dream of owning the vacation rental, but didn't necessarily properly calculate the amount of work it takes or how much they'd be able to use it

-the rental has appreciated in value so they just want to take advantage and treat it as a "flip".

You never know. To act like there aren't good deals/assets out there on the RE market is just as asinine as thinking a beach condo would put money in your pocket in the short term.

Also, yes. I'm the guy that started the other Beach Condo thread.