Rental Property Investor · North Fork, NY · Member since 2016 · 1k+ posts · 631 votes
6y
@Terry Matthews Beach condos are like the stock market- hold on for consistent returns. When the market drops, investors sell. It's an emotional decision. Right now, new buyers of beach condos in the FL panhandle are emotional. But we have short memories when it comes to natural weather occurrences. Beach condos will always be a place to vacation and therefore, a place to own a STR. Just don't get too emotional when the weather turns and look ahead to when the sun returns. Where are the beach condos you are asking about?
Interested in price point you're discussing - also size of the overall development. Say a 350k condo as part of a 15 unit development. What are you finding for amenities with the product you're looking at? I also think that beachfront is beachfront, and if the numbers pencil now, considering market conditions, it might be a good deal.
Real Estate Broker · Fairhope, AL · Member since 2017 · 32 posts · 18 votes
5y
@Terry Matthews DM me if you are still interested. I am a broker on the Alabama Gulf Coast and we are seeing great numbers. Demand for vacation rentals is going up (post covid) and which is driving up rental rates and units are appreciating like crazy. Every investor I work with is different and we are finding what works for each one.