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My FL Marina sold - they want me to buy a "Dockominium"

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Old 10-20-2007, 06:59 PM
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that is the new thing going on in Florida, dockominiums are taking over.....I am considering a dry storage deal in Broward County as an investment.....who here is looking for dry storage space in Broward County? Thie demand or need for dry storage is going to determine my decision whether to go into the deal.
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Old 10-20-2007, 08:00 PM
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Thats how I am looking at it.I am renting the slip now(I own the lift) so if I own the slip its not like dead money also its not as much as you guys are paying in Florida
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Old 10-21-2007, 12:35 AM
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what would travis macgee/doc ford think of this,everything down here is going condo and boatiminium,but nothing is selling,yet they keep building,getting ready to knock down about a mile of n.roosevelt blvd to build more condos(waterfront views ,but no dockage.)
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Old 10-21-2007, 09:42 AM
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Maximo Marine in south St Pete is doing the same thing, they have been booting all the boats out to start construction the last couple of weeks. A lot of people are pretty pi$$ed about the whole thing.
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Old 10-21-2007, 09:53 AM
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I have a good friend looking into this dock-o-minium investment thingy... what he doesn't understand, nor has gotten a straight answer for, is when you buy a slip for $300,000 and then you MUST pay a monthly maintenance fee?? fee for what?? the manatee's to clean your pilings?? nobody seem's to be able to answer that one... also, if your buying the bay bottom beneath the slip, do you do it on high tide?? or low tide? are there property taxes assessed on the bay bottom?? if you have a 40' slip and a 46' boat, who's property are you encroaching on, if it sticks out?

JH
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Old 10-21-2007, 01:24 PM
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For that kind of money you can almost buy waterfront property on Marco Island!
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Old 10-21-2007, 01:42 PM
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The fee is like having that condo and the membership/owner association fees.
Like a condo... nothing hanging off the pier or docksides (like on balconies) and when I looked at them it usually meant using "their" lending institution since most banks don't quiet understand loaning money to buy a spot of water.
They usually want some kind of dirt to be involved.
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Old 10-21-2007, 03:26 PM
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Give them all another year when the banks take them all back. The banks will be giving them away.The projects around here are mostly stagnant . i think Naples Marina borrowed somewhere around 90 million for their project . .They could not wait to kick my dad out of there and tell him he would be begging to buy a slip later.Good Luck.People with a 60 thousand dollar boat are not going to buy a 160 thousand dollar slip.The speculators who bought into them will be dropping like flies.
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Old 10-21-2007, 09:17 PM
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Slip ownership is in vogue. There is still a market, believe it or not, in flipping slips for profit as well. The Sundance Marine property, owned by Joe Clawges, at the end of the 15th street canal in Lauderdale, is being presold now, and will be called "The Harborage Club". They are listing at $110,000 to $165,000 each, depending on the size slip you need. My friend(and neighbor) Brien Mastriana, is developing "The Sails", at the foot of the 17th Street bridge in Lauderdale, that will also include slips for sale. There is...and always will be...a market for this in South Florida.

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Old 10-23-2007, 10:47 AM
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not if it is just a well. you write your boat off as a second home.
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