If this is your first visit, please click the Sign Up now button to begin the process of creating your account so you can begin posting on our forums! The Sign Up process will only take up about a minute of two of your time.

Follow us on Facebook Follow us on Twitter
Page 2 of 2 FirstFirst 12
Results 11 to 14 of 14
  1. #11
    VIP Member VIP Member aquatictherapy's Avatar
    My Boats:
    1999 Powerquest Silencer
    Join Date
    Aug 2005
    Troy, IL

    Re: Loto Rental Condos

    Guys, thanks for all of the input. I think we may pass on LOTO for the time being with all the stuff that you guys have said. Is there any other areas that anyone would recommend? Possibly Galveston or Fort Myers? Whatcha think? Thanks for all of the input, keep it coming.

  2. #12
    Registered hammer01's Avatar
    My Boats:
    Join Date
    Feb 2006

    Re: Loto Rental Condos

    I Must Agree With Some Of The Above But I Also Figured Out A System That Worked For Us. I Have Owned Condos And Have Friends With As Many As 3 Or 4 Rentals Down There And They Have Had Great Success. I Have Had 2 Condos In The Past 7 Years Down There That Would Pretty Much Pay For Themselves And A Good Friend Who Just Bought A Brand New One And It Paid For Almost 100% Of Its Total Costs This Year. Pm Me If You Are Interested In His Mgmt Company And The Web Site. I Did Private Rentals And Liked Controlling The Quality Of The Renters. I Did Not Always Try To Cover Everything In Terms Of Expenses But To Just Help With The Mortgage Payments Since We Only Go Down About Once A Month If That. We Did Keep A Owners Closet Of All Our Personal Belongings And It Was Nice To Know That Our Leftover Expenses Paid Down Our Equity Interest In The Property, Good Tax Deduction, Able To Offer To Family And Friends For Vacation, And Didn't Make Everyone Elses Payments For Them Meaning Paying Rent. Awesome Place To Be Regardless And Great People To Meet. We Have Made Huge Friendships At The Lake And Our Kids Love Going There. Good Luck.

  3. #13
    Platinum Member Platinum Member Mentalpause's Avatar
    My Boats:
    Nor-Tech 340 CC
    Join Date
    Nov 2000

    Re: Loto Rental Condos

    I agree with Hammer, we have had a place down there since 99. I would not put anything I owned on a rental program. But if you are in a situation where you can do some rental to friends and family you trust, you will do OK. You won't pay for the cash flow, but you will do OK considering the tax break, your enjoyment of the property, and the appreciation over time.

  4. #14
    Registered mpally's Avatar
    My Boats:
    36 Outlaw
    Join Date
    Oct 2000
    St. Louis/ LOTO

    Re: Loto Rental Condos

    Storms like we just had roll through can make any type of ownership fun. We are heading down first thing in the morning to assess the damage. Hoping Mother Nature was kind to us agian. We'll see.

Page 2 of 2 FirstFirst 12

Similar Threads

  1. LOTO condos?
    By DirtyMoney in forum General Boating Discussion
    Replies: 47
    Last Post: 03-28-2008, 08:12 PM
  2. loto condos
    By RonS in forum General Boating Discussion
    Replies: 9
    Last Post: 01-11-2008, 11:35 AM
  3. House rental at LOTO
    By mpally in forum General Boating Discussion
    Replies: 5
    Last Post: 05-06-2007, 04:58 PM
  4. LOTO- $3 million Penthouse Glass High Rise Condos Coming
    By Buddy OO in forum General Boating Discussion
    Replies: 21
    Last Post: 01-04-2006, 04:51 PM
  5. OT:Loto condos
    By Steve_H in forum General Boating Discussion
    Replies: 5
    Last Post: 04-28-2003, 01:08 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
All times are GMT -5. The time now is 07:02 PM.
Powered by vBulletin® Version 4.2.0
Copyright © 2016 vBulletin Solutions, Inc. All rights reserved.
Search Engine Optimization by vBSEO 3.6.1
Original Poster In Postbit provided by Original Poster In Postbit v1.0.0 (Free) - vBulletin Mods & Addons Copyright © 2016 DragonByte Technologies Ltd. Runs best on HiVelocity Hosting.
Copyright 2011 OffShoreOnly. All rights reserved.