Need adivce on vacation home purchase (real estate, rentals, condo)

[snake51]

Hi All,

I plan to purchase a condo (3/2 batch sf 1210 ) at Oakwater resort
for about 110K, I plan use it for short team rental and second home.

a. do you think is this good time to buy?
b. what you think of purchase price ? is this too high?
c. what is the rental market in the area ?
d. what you all think of Oakwater resort community?

[annerk]

Originally Posted by snake51

Hi All,

I plan to purchase a condo (3/2 batch sf 1210 ) at Oakwater resort
for about 110K, I plan use it for short team rental and second home.

a. do you think is this good time to buy?
b. what you think of purchase price ? is this too high?
c. what is the rental market in the area ?
d. what you all think of Oakwater resort community?

a. Yes, it's looking like we've seen the bottom of the market.
b. No idea, you'd have to ask a Realtor to pull comps.
c. TERRIBLE. Too much supply, and it's not going to change. Whatever lies the real estate people are telling you about keeping it rented--well, take about 10% of what they are saying to get the actual number of weeks. If you can't afford the place with zero rentals, don't become yet another statistic. Don't buy it.
d. It's newer and in a good location, that's all I can add.