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re: Anyone own a condo on/near the beach on the MS Gulf Coast?
Posted on 7/13/18 at 6:52 am to TigerRob20
Posted on 7/13/18 at 6:52 am to TigerRob20
I have a friend that owns a 3 bedroom condo at Pheonix West he bought, probably 5 years ago. They use it around 4-5 times a year. Maybe a little more and rent it out the rest of the time. They clear around $30k a year with it. Seems to be doing pretty good with it.
I also have a few friends that have camps in Grand Isle that do the same, and their ROI about the same. They’re just closer.
Eta: you get just about the same per night for a camp in GI as you can for a condo in OB
I also have a few friends that have camps in Grand Isle that do the same, and their ROI about the same. They’re just closer.
Eta: you get just about the same per night for a camp in GI as you can for a condo in OB
This post was edited on 7/13/18 at 6:53 am
2
Posted on 7/13/18 at 6:53 am to FlatTownDawgTiger
God why would anyone buy a place in Biloxi? Like others have said, I end up regretting every time I go.
Posted on 7/13/18 at 6:54 am to FlatTownDawgTiger
quote:
drive the extra hours to Orange Beach/Gulf Shores.
Well worth it over Landmass
Posted on 7/13/18 at 6:55 am to TigerRob20
What would you like to know? I honestly stumbled into a great deal and that's why it is working out. I think you'd have to have a fantastic condo to make money if you bought one right now. Similar quality units with the same floodplain are selling for $50k more than what I paid right now
Posted on 7/13/18 at 7:13 am to FlatTownDawgTiger
quote:
a condo on/near the beach
quote:
looking into buying a second property that we could enjoy with our young children.
Have you been to the Biloxi beach recently? It's a mud hole!
Posted on 7/13/18 at 7:22 am to jmarto1
My parents bought all of theirs around 01-03, and randomly decided to sell them right before the housing crash. The plan, for them at least, was to have enough money coming in from them to have each one completely paid off within 5-10yrs. Basically a nest egg for the future.
Easiest money was when the snowbirds would come back to the same place year after year, and rent for a few months. It was a lot less stressful
Easiest money was when the snowbirds would come back to the same place year after year, and rent for a few months. It was a lot less stressful
Posted on 7/13/18 at 7:24 am to Fat and Happy
quote:
That Biloxi black beach weekend is racist because the stores close during that weekend because black folks come in town
Or maybe it’s because the kind of folks who hold “twerk fest” are coming. I doubt they’d give a shite about “successful black businessmen’s weekend”
Posted on 7/13/18 at 7:31 am to fr33manator
Posted on 7/13/18 at 7:31 am to HeadBusta4LSU
quote:
The fishing sucks
the fishing only sucks if you don't know how to fish. If you follow guides on social media or are in any coast fishing groups the locals catch the shite out of fish. Hell they have been catching a ton of reds right off the piers. If you don't want to fish Mississippi waters, the Biloxi Marsh is a 20 minute boat ride away. If you can't catch fish in the BM you may as well sell the boat.
quote:
beach sucks
The sand is nicer and the water is no different than Grand Isle, it's just not as deep
quote:
same few shitty restaurants to visit.
I can't speak for Biloxi but Bay St.Louis has plenty of good restaurants and bars
quote:
not a lot to do
fish, beach, jetski, water sports, golf, casinos, shop, bars. If you can't have fun doing any of the above you seem like you suck anyways
This post was edited on 7/13/18 at 7:43 am
Posted on 7/13/18 at 7:35 am to FlatTownDawgTiger
to answer your question though
I have a friend with a camp he rents out in Bay St Louis on the water by Bay Marina. He prices it just less than Hollywood Casino. It's full most of the time and more than pays his mortgage on it.
A guy I work with has a condo that he rents out in Pass Christian and he also claims to make more than his mortgage.
I love the BSL area, we have a camp on the Jourdan River. Our street is awesome, it's all south Louisiana overflow
I have a friend with a camp he rents out in Bay St Louis on the water by Bay Marina. He prices it just less than Hollywood Casino. It's full most of the time and more than pays his mortgage on it.
A guy I work with has a condo that he rents out in Pass Christian and he also claims to make more than his mortgage.
I love the BSL area, we have a camp on the Jourdan River. Our street is awesome, it's all south Louisiana overflow
Posted on 7/13/18 at 7:37 am to redneck
quote:
Bay St.Louis has plenty of good restaurants and bars
Triple Tails and TBT kinda suck as far as bar food even goes.
Cuz’s and Trapinas are pretty good.
Posted on 7/13/18 at 7:41 am to tgrbaitn08
Sunday afternoon band at Triple Tails is my favorite hang out. Like you said, it's bar food, but the band and atmosphere is great. Veal Parm covered with jumbo gulf shrimp/lump crab meat seafood sauce at Trapanis is my go to if I want something nice.
Have you eaten at Murphys since it reopened?
Have you eaten at Murphys since it reopened?
Posted on 7/13/18 at 7:46 am to redneck
I like bay St. Louis. It’s just not something I would be into doing over and over again.
Posted on 7/13/18 at 7:49 am to redneck
Don’t get me wrong. Both of those places are solid bar hangouts. I could def get used to day drinking at either of those places right there on the beach.
We ride out to Ship Island from The Pass and that was pretty fun. I hear the fishing around Cat Island and the Triple Tail right there in the Bay is pretty damn good.
Other than a few restaurants, bars the, taking the kids tubing and jet skiiing in the Pass there really isn’t much to do.
I couldn’t justify buying a place down there but I could see us renting a place a few times a year just to spend a couple days. I mean, I can be sitting at the bar at TBT in less than an hour from my house.
We ride out to Ship Island from The Pass and that was pretty fun. I hear the fishing around Cat Island and the Triple Tail right there in the Bay is pretty damn good.
Other than a few restaurants, bars the, taking the kids tubing and jet skiiing in the Pass there really isn’t much to do.
I couldn’t justify buying a place down there but I could see us renting a place a few times a year just to spend a couple days. I mean, I can be sitting at the bar at TBT in less than an hour from my house.
Posted on 7/13/18 at 7:51 am to redneck
quote:
Have you eaten at Murphys since it reopened?
No. I sure haven’t.
Also another thing, none of the breakfast places we found serve alcohol.
Everything closes at 10. The Ugly Pirate, or whatever it’s called stays open till 11
Posted on 7/13/18 at 7:52 am to FlatTownDawgTiger
I could be happy with a 2nd home later in life in Bay St. Louis, Pass Christian, or Ocean Springs. Of course the beaches suck, but wouldn't plan to spend much time on them.
The condo as an investment business is a lot about timing. If you had purchased one in FL and to a lesser extent AL during the 2005-2007 you would have paid a premium and been sucking wind until 2012 or so. Some of the FL condos lost 30-40% of their value during the crash and business for rentals was down for a while.
Things have been booming the last three or four years for rental rates. All about the timing and how much you paid when purchased.
The condo as an investment business is a lot about timing. If you had purchased one in FL and to a lesser extent AL during the 2005-2007 you would have paid a premium and been sucking wind until 2012 or so. Some of the FL condos lost 30-40% of their value during the crash and business for rentals was down for a while.
Things have been booming the last three or four years for rental rates. All about the timing and how much you paid when purchased.
Posted on 7/13/18 at 8:10 am to fishfighter
quote:
OP, go east to have clean water and a sandy bottom.
Or buy a boat and go 9 miles south to Horn or Ship Island. Same water, better sand and you don't have to deal with the crowds.
Posted on 7/13/18 at 8:10 am to FlatTownDawgTiger
quote:
ETA: don’t want to spend 350k on a 2 BR condo or drive the extra hours to Orange Beach/Gulf Shores.
In that case, I would look at houses or nice camps in the back bay areas. Screw a condo.
Posted on 7/13/18 at 8:15 am to FlatTownDawgTiger
Try ocean springs instead.
Really cool place.
Really cool place.
Posted on 7/13/18 at 8:16 am to FlatTownDawgTiger
quote:
condo on/near the beach on the MS Gulf Coast?
Ew gross. No.
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