Investing in condo on beach-advice needed (Fort Myers, Fort Myers Beach: rentals, insurance, mortgage)

[merrydove]

We stayed at the Kona Beach Club on Fort Myers Beach this past June. We loved it there. It is on the north part of the island, it was quiet, the ocean was warm and calm, the sand was soft and white. We are in our 50's and were thinking it might be the perfect time to invest in property on the beach to have a place for a few months out of the year when we retire in about 12 years. I have read so many negative posts here I'm wondering if that would be a mistake. The prices seem too good to be true for a place right on the beach or directly across the street. Is it ever a bad idea to buy property on a beautiful beach? Are rentals down in the area? We would have to have good rental income to afford to do this. I appreciate any and all advice!

[FLBob]

Vacation rentals can make a good investment. I know a number of people that are able to see positive cash flow. I strongly suggest doing your homework. I did a quick search of vacation rentals offered at the Kona Beach Club and it would appear that weekly rentals are being allowed. The advertised weekly rate was about $1200 and the calender showed Jan and Feb already booked (but that could be the owner).
If you can get a handle on normal rental volumes and rates, assess the costs; property management, insurance, club fees, mortgage etc. and see the property paying for it's self, then it's worth considering.
Fort Myers beach does see a high volume of winter vacationers. There will be a good number of retirees looking for a location to retire to, so rentals do have a audience.

[helplessinfl]

Fort Myers Beach is one of the best beaches around. I do not think you can go wrong with owning property there. It is close to everything... airport 40 min... Downtown.. 30 min... everything else is even closer. Dec. Jan. Feb. March and April are very busy times on the beach with Nov and May busy but not as busy.
I am not sure about prices..as none of us can be sure nowadays but I really do not think they will go down any further.
My concern is condo fees.. But I am one of those people who do not like someone else controlling where my money goes. Good luck ! You will ove being close to the wonderful Gulf of Mexico !