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lsubec
LSU Fan
Baton Rouge, LA
Member since Jul 2005
205 posts

Will a Beach condo pay for itself by renting it ?
Thinking about buying one.
This post was edited on 4/16 at 7:18 pm


iAmBatman
USA Fan
The Batcave
Member since Mar 2011
8035 posts

re: Will a Beach condo pay for itself by renting it ?
No

Any thing else I can answer for you?


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642
jimbeam
USA Fan
University of LSU
Member since Oct 2011
50185 posts
 Online 

re: 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.


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Fat Bastard
Boston College Fan
Member since Mar 2009
37256 posts

re: Will a Beach condo pay for itself by renting it ?


VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
22113 posts

re: Will a Beach condo pay for itself by renting it ?
Well. If he paid cash for it and rented it out every week for 30 years he might have a chance.


DawgCountry
Kennesaw St. Fan
Great State of GA
Member since Sep 2012
22463 posts

re: Will a Beach condo pay for itself by renting it ?
Yes. Every time. I own 10. 100% success rate


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144
Ric Flair
LSU Fan
Charlotte
Member since Oct 2005
9873 posts

re: Will a Beach condo pay for itself by renting it ?
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.


Fat Bastard
Boston College Fan
Member since Mar 2009
37256 posts

re: Will a Beach condo pay for itself by renting it ?


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01
NOLAGT
Over there
Member since Dec 2012
8294 posts

re: Will a Beach condo pay for itself by renting it ?
My parents do. But they bought it in 1985 for 80k. Not sure if you could with today's cost.


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castorinho
Oklahoma Fan
13623 posts
Member since Nov 2010
54741 posts
 Online 

re: Will a Beach condo pay for itself by renting it ?
the lack of information in the OP lends me to believe that you most likely don't have a good understanding of what you would be getting yourself into.


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150
yellowfin
Chicago Cubs Fan
Coastal Bar
Member since May 2006
90985 posts

re: Will a Beach condo pay for itself by renting it ?
If you bought it in 2009 yes


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114
flyAU
Atlanta Braves Fan
ATL
Member since Dec 2010
19691 posts

re: Will a Beach condo pay for itself by renting it ?
quote:

Thinking about buying one.



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












Interested in it by chance????


HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
28416 posts
 Online 

re: Will a Beach condo pay for itself by renting it ?


GFunk
LSU Fan
Denham Springs
Member since Feb 2011
13939 posts

re: Will a Beach condo pay for itself by renting it ?
You get a discount if you buy it with Iraqui Dinarcoin...


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Sofa King Crimson
New Orleans Saints Fan
Bitch I'm from Louisiana
Member since Nov 2008
4037 posts

re: Will a Beach condo pay for itself by renting it ?
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. It's worth about 40K more than they paid for it, too( they did put about 20K into it). But it seems to me like we may be in a bubble right now. Though, it's hard to imagine the FL panhandle is going to become less desirable any time soon.


Ole War Skule
LSU Fan
North Shore
Member since Sep 2003
2916 posts

re: Will a Beach condo pay for itself by renting it ?
quote:

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


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.


fjlee90
LSU Fan
Baton Rouge
Member since Nov 2016
1657 posts

re: Will a Beach condo pay for itself by renting it ?
quote:

Will a Beach condo pay for itself by renting it ?


Not as much as the time share I'm willing to sell you.


TheOcean
Florida State Fan
#honeyfriedchicken
Member since Aug 2004
39163 posts

re: Will a Beach condo pay for itself by renting it ?
Boy have I got a great deal for you

PM me for details


Chad504boy
New Orleans Saints Fan
Member since Feb 2005
127748 posts

re: Will a Beach condo pay for itself by renting it ?
do we add the expenses of our annual vacations we no longer take due to going to beach condo into the equation of paying for itself?


Sev09
LSU Fan
Member since Feb 2011
12909 posts

re: Will a Beach condo pay for itself by renting it ?
quote:

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?


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.


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