Rental Property Investor · Clayton, GA · Member since 2020 · 185 posts · 152 votes
5y
Originally posted by @Account Closed:
We're going to end up with something in the Gulf Shores area.. We have kids and there's a lot going on for them in that area.. (amusement parks etc..)
Most of us investor types don't have a line item for making the wife and kids happy on our investment calculators and spreadsheets! I suspect yours will and it should and will rank heavily. Sounds like it's Gulf Shores then and i'm sure you will not only do well there but your family will enjoy making memories!
Rental Property Investor · Clayton, GA · Member since 2020 · 185 posts · 152 votes
5y
The way that you asked the question leads me to believe that you want to utilize this house for you or your family as well as rent it out when you aren't there. If this isn't purely an investment for you, then go ahead and get a place in whichever spot you like best. Every area you listed can cash flow and they are all good options. My wife and I are down in Destin right now, and we are driving over to PCB tonight to scope it out too. I don't think i'd ever own a place in PCB that i really wanted to use myself we prefer Destin over both Orange beach and PCB, but i also think PCB cash flows a little better overall vs Destin because of higher prices in Destin (speaking generally). My cabin in the smokies, if i never see it again, and it continues to print money like it is i'd be fine with that. We are considering a beach rental too as a rental, but we also want it for ourselves in the future as well and we want to really like the place too as we might winter there in the future. Long story short, I don't believe any of these areas are different enough for someone that also want it to use for themselves vs just an investment go where you like and you will cash flow either way if managed properly.
Realtor · Orange Beach AL · Member since 2018 · 150 posts · 125 votes
5y
For cash flow purposes, Coastal AL ~ Orange Beach & Gulf Shores usually works better because property taxes are much lower in Alabama. You also might need a larger down payment for FL loans if you are going to finance. We have STR condos in Orange Beach & St Augustine. Happy to share our personal experiences with you!
Real Estate Agent · Tampa, FL · Member since 2018 · 464 posts · 452 votes
5y
@Account Closed mentioned, if you're planning on utilizing it with the family, your decision may be swayed by more personal choices. As an agent, I sell in the Destin through PCB market. As an investor, I own in the Destin area and am currently doing a luxury flip in Orange Beach. You can definitely cash flow in all markets; you'll just have to underwrite each property individually. To grossly generalize, I feel PCB currently hold the best price-to-potential-income ratio along the coast; however you can find hidden gems anywhere!
Personally (sounds like Mike is the same), I like the more polished nature of the Destin and Miramar Beach area versus the other areas, which seem to be a bit more of a hodge podge.
Rental Property Investor · Clayton, GA · Member since 2020 · 185 posts · 152 votes
5y
Originally posted by @Account Closed:
We're going to end up with something in the Gulf Shores area.. We have kids and there's a lot going on for them in that area.. (amusement parks etc..)
Most of us investor types don't have a line item for making the wife and kids happy on our investment calculators and spreadsheets! I suspect yours will and it should and will rank heavily. Sounds like it's Gulf Shores then and i'm sure you will not only do well there but your family will enjoy making memories!
@Candace Pfab Where is your St. Augustine condo? Does it allow short short term rentals?
It's at Seaside at Anastasia. 7 day minimum, but the peak season there are the winter months, so it works great for us. They will allow shorter rentals, but you have to block the extra days. We have been booked solid since last September with only the 1st week in May not being booked & we are full through the end of July right now & have November-March of next year booked :)
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
5y
@Rema W.
Destin has way nicer beaches but is quit a bit more expensive. Gulf shores over orange beach for me. I have a million + house in Destin. Zero complaints.
For cash flow purposes, Coastal AL ~ Orange Beach & Gulf Shores usually works better because property taxes are much lower in Alabama. You also might need a larger down payment for FL loans if you are going to finance. We have STR condos in Orange Beach & St Augustine. Happy to share our personal experiences with you!
Candace is great. She helped us get a place in Orange Beach remotely :)