My wife and I are looking at purchasing an investment property in Destin. I have been looking on rea

My wife and I are looking cheap florence hotels at purchasing cheap florence hotels an investment property in Destin. I have been looking on realtor.com but was wondering what information you could provide. cheap florence hotels I really like the idea of a condotel or some type of condo that is rented out to vacationers. We are looking for beach front or very close to a beach that would attract families on vacation. Do you have any suggestions? Jeff
Hi Jeff and thanks for your recent email. You asked a very loaded question! Personally, I'm not a major fan of condotels. We may have 1 or 2 here, but a third was slated to happen cheap florence hotels and didn't because you could buy a nice studio or 1 bedroom near the beach for about the same price. And there is a mega-availability of units currently on the market that are such a better investment cheap florence hotels value. What we really need to determine is your price range. And then I can search from there. This area, Destin, is a vacation paradise. In the summer we are packed and units rent very well. There are alot of companies who do vacation rental management, charge a fee, but keep on top of getting the units rented out, cleaning after guests leave, doing any necessary maintenance and just keeping the place current. Destin proper, heart-of-Destin, or old Destin is mostly high rise condos on the Gulf of Mexico. There are some that properties that do very well and people come back to year after year. I believe Sundestin cheap florence hotels is a condohote and it does pretty well, altho I have never sold a unit in there. Pelican Beach is also a very popular rental complex for families with lots of amenities and most units facing the gulf. Holiday Isle has Sandpiper cheap florence hotels Cove and that complex does well also. There are studio units available for about $150K. But the studios only sleep 2-3 people, so you aren't going to make a killing on them as far as coming out with a positive cash flow. In fact, right now, it may be difficult to come up with a positive cheap florence hotels cash flow with any of them unless you really pay a great low price for the unit, crunch the numbers, and come out even or ahead.
If you buy, you get a good deal because it's a buyer's market, but you should plan to stay in it for a few years if you want to see a growth on your investment (and enjoy it as well as a second home or vacation getawy a few times a year). There are also townhome units along Scenic Hwy 98, further east of Destin proper, some slightly older, that are priced pretty well now, let's say mid $200's for a gulf view 1 bedroom. Then further east is Sandestin Resort, very popular, tons of amenities, but expensive (well I guess depending on what you can afford to spend), with maintenance fees, condo fees, and property management fees. Further east is Santa Rosa Beach, also very popular, and Grayton cheap florence hotels Beach, and I can dig up info on those areas too. Now going back to west of Destin and the Destin Bridge is Okaloosa Island, part of Ft Walton Beach, and there are numerous 6-story condo complexes there, right on the beach, also pretty popular for vacationers, and may be slightly lower priced because it is not as popular as being in Destin, where all the action is. In the winter, we have a big snowbird contingency, and rentals are based on several months occupancy cheap florence hotels and the per month price is lower than the high season summer rates. Our area is a little different than south FL, where our high season is summer and down there, the high season is winter. The area has grown tremendously in the past 7 years. Shopping is phenomenal, with Silver Sands Outlet Mall, Destin Commons mall, and a ton of other big name stores and new popular restaurants popping up all the time. It's definitely not a sleepy little fishing village anymore! But there is still a ton of that going on.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content cheap florence hotels in these profiles, that are written by the members of this community.