How-to's in buying 1st beachfront property
Hi fellow BPs!
I'm seeking advice from the astute masses on buying vacation properties. I've been a civilian employee within the armed forces for 5 years within the Midwest. Although a lovely area, I've been reluctant to invest in a SFR or an investment property as there is a huge likelihood I will relocate to DC and I do not wish to deal with all the headaches of being an out of state owner in the rust belt. But I do have a great interest in acquiring a property within the Gulf Coast Alabama region.
Over the years I've made connections with some realtors in the area and recently was introduced to a few beachfront properties within the $170-$240K price range. These properties tout a good cash flow history (although I will need to analyze this further) and is within my desire price point; however, I have no clue how to finance a property like this.
My hope is to gain some insight as to what financing options are out there for this unique situation. I'm open to suggestions AND critique as well so all ears!