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Florida income/vacation property

Old 03-23-2020, 01:53 PM
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Default Florida income/vacation property

With the low interest rates and udder boredom from this non-sense. My wife and I are starting our search for a vacation/rental/future retirement property in Florida. We want a single family home with a dock for the boat on either the gulf or the Atlantic side. Looking to spend no more then $300k. Where should I be looking?

Also interested in SC and GA.
Old 03-23-2020, 02:26 PM
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possibly Cape Coral has some distressed properties at that low entry price..
Old 03-23-2020, 02:28 PM
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Find me one too !!
Old 03-23-2020, 02:33 PM
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I will gladly be watching this as well. I am tired of NY and dream of sunshine. We can tell everyone how we did it up north.
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Old 03-23-2020, 02:33 PM
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Lots of threads on this, but prolly SC and GA
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Old 03-23-2020, 03:13 PM
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NO.... Definitely head down to Florida... lots of you people go there... they'll love you there. SC is full... and nasty... and rude... we got midwesterners here too.
Old 03-23-2020, 03:23 PM
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Originally Posted by Aqualizard86 View Post
With the low interest rates and udder boredom from this non-sense. My wife and I are starting our search for a vacation/rental/future retirement property in Florida. We want a single family home with a dock for the boat on either the gulf or the Atlantic side. Looking to spend no more then $300k. Where should I be looking?

Also interested in SC and GA.
About 40 years ago.
Old 03-23-2020, 03:27 PM
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Do you want the water to actually go to the Gulf or the Atlantic?

$300k is a very low budget for a SFH on the water.......in FL anyway.
Old 03-23-2020, 06:33 PM
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Default Vacation house

There's a mobile home park not to far from me , near ft.myers / cape Coral , there on canals . One just sold for $ 649,000.00
Old 03-23-2020, 06:39 PM
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just wait a couple months

if the downturn continues the 2nd homes will be the first to get sacrificed

and there will be no shortage of them (if this continues more than a couple months)
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Old 03-23-2020, 06:43 PM
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On the west coast of Florida about the only chance you will have is in New Port Richey or Hudson. The house will likely be small and in need of updating.

Cost of entry to waterfront living in most other areas south of there is about $500k, with $700k+ being the average.
Old 03-23-2020, 06:45 PM
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Originally Posted by Jus Teasin View Post
Do you want the water to actually go to the Gulf or the Atlantic?

$300k is a very low budget for a SFH on the water.......in FL anyway.

Yep same in SC, asking for a lot for $300K
Old 03-23-2020, 06:46 PM
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Originally Posted by rbhankins001 View Post
just wait a couple months

if the downturn continues the 2nd homes will be the first to get sacrificed

and there will be no shortage of them (if this continues more than a couple months)
Thats the plan. The second homes will be the first to go and we would be ready to buy. I am just trying to narrow my search to one area. Not a fan of the Miami area so I plan on avoiding that. I am also open to a full rehab as well. I might start focusing on SC and GA. The “Florida man” nonsense might be a little much.
Old 03-23-2020, 06:46 PM
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Originally Posted by captbone View Post
I will gladly be watching this as well. I am tired of NY and dream of sunshine. We can tell everyone how we did it up north.

Oh HELL here comes another one 😂
Old 03-23-2020, 06:57 PM
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Just wait a few months. If this virus continues and the economy keeps going in the tank, there will be plenty. Pretty much most of the vacationers have canceled their reservations. People that were counting on rental income to help pay the note are going to be in a bind. The company that rents my condo sent out an email last night saying they had over 600 cancellations in the last week.
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Old 03-23-2020, 07:05 PM
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Originally Posted by Aqualizard86 View Post
With the low interest rates and udder boredom from this non-sense. My wife and I are starting our search for a vacation/rental/future retirement property in Florida. We want a single family home with a dock for the boat on either the gulf or the Atlantic side. Looking to spend no more then $300k. Where should I be looking?

Also interested in SC and GA.
For
Old 03-23-2020, 07:07 PM
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Originally Posted by Aqualizard86 View Post
With the low interest rates and udder boredom from this non-sense. My wife and I are starting our search for a vacation/rental/future retirement property in Florida. We want a single family home with a dock for the boat on either the gulf or the Atlantic side. Looking to spend no more then $300k. Where should I be looking?

Also interested in SC and GA.
You can do it for that kind of a budget.
Lots of naysayers here.
Cape Coral, Punta Gorda, Port Charlotte.
They're out there. I would suggest cash in hand & pounce when you find what you're looking for.
Old 03-23-2020, 07:10 PM
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Originally Posted by inpursuit View Post
Just wait a few months. If this virus continues and the economy keeps going in the tank, there will be plenty. Pretty much most of the vacationers have canceled their reservations. People that were counting on rental income to help pay the note are going to be in a bind. The company that rents my condo sent out an email last night saying they had over 600 cancellations in the last week.


Have to say I agree with this.

Our vacation rental has only 1 week rented this summer and really do not see much changing unless this thing clears up by then

We have been fortunate in that some locals have rented our house from Oct-April while their house was being renovated, in fact got a call today from our real estate agent/manager that they wanted to know if they could stay through May. Wife and I were going first week of May but not now, told them to stay
Old 03-23-2020, 08:06 PM
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Yeah if the property values tank again so will the money so you'd better be a cash buyer. Used to be able to buy a canal house here that required a full rehab for $300ish but not anymore. There's still property on navigable water around here but you're nowhere near beachside or anything cool.
Old 03-23-2020, 08:12 PM
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Originally Posted by rbhankins001 View Post
just wait a couple months

if the downturn continues the 2nd homes will be the first to get sacrificed

and there will be no shortage of them (if this continues more than a couple months)

Yep I can definitely see that but another possibility is that the northerners that are getting hit with winters, taxes, the virus epidemic ,and can now work remotely (especially if it catches on) might want to give up their primary residence in those states for sunny warm south florida. Especially the people from the NE who are getting hit hard and love to retire in FL.

It will be interesting to watch over the next few months and if the warmer weather has any impact, unfortunately the amount of transients we get will likely negate the weather.

Last edited by alfnator; 03-23-2020 at 08:18 PM.

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