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At what beach am I likely to make the greatest profit along the Eastern seaboard? Thinking oceanfront condo, but also open to beach houses (in already-established program). Flexible re: coast versus Gulf.
After talking with some other investors (in real life, this time), I'm going to take another look at the panhandle. Year-round rental, and they CLAIM to make a good profit? By which I mean being in the black and at least as much as I'm currently making on money in the bank (.25%) over that amount.
After talking with some other investors (in real life, this time), I'm going to take another look at the panhandle. Year-round rental, and they CLAIM to make a good profit? By which I mean being in the black and at least as much as I'm currently making on money in the bank (.25%) over that amount.
If anything was guranteed to make more than what the bank was giving you, everyone would be doing it.
After talking with some other investors (in real life, this time), I'm going to take another look at the panhandle. Year-round rental, and they CLAIM to make a good profit? By which I mean being in the black and at least as much as I'm currently making on money in the bank (.25%) over that amount.
I think there's better investments than beach houses. I'd do some serious number crunching and figure out the ROI you expect and it's hard to imagine you couldn't beat that investing elsewhere, like mutual funds or the stock market. Obviously savings accounts give terrible returns, but liquidity is their main benefit. One draw of buying a beach house is so people can use it themselves a lot and feel some sort of attachment. And not have to deal with renting if they go to the beach a lot. But I really don't think they make a lot of money purely from an investment perspective.
Again, I'm not doing it strictly for the investment angle, as I plan to relocate there in retirement.
But I'm flexible as to location based on where I can make the most profit.
Any ideas???
Why do you say 'again..', you never stated that you were planning on eventually residing there in retirement. Obviously Florida could be attractive due to no state income tax, and year round warm weather. I have no idea how the rental market is there. Delmar(DE,MD) beaches like Ocean City and Dewey are extremely popular during the summer due to proximity to Washington DC but are useless in the winter. We love Outer Banks,NC but again useless in winter. I'd look at Florida, maybe even post in the Florida sub forum.
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