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this looks like a hell of a deal

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Old 07-14-2006, 10:57 AM
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Default Re: this looks like a hell of a deal

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Originally Posted by CigDaze
A place like that down here would be in the millions.
Heck Nick, A two bedroom lean-to with no plumbing is worth a million down there.

I'm getting ready to auction off a three bedroom house up here hoping to get 70 grand.
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Old 07-14-2006, 11:02 AM
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Default Re: this looks like a hell of a deal

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Originally Posted by fund razor
Heck Nick, A two bedroom lean-to with no plumbing is worth a million down there.

I'm getting ready to auction off a three bedroom house up here hoping to get 70 grand.
Not necessarily. A typical 3br/2ba/2-car on a deep water canal with bay access can be had for about 500K. The same place acrossed the street (not on the water) is about 1/2 that.
This place is about a 1/4-mile from me: Big 4/2/2 on the water:
http://www.realtor.com/Prop/1056742534?lnksrc=00045

Last edited by CigDaze; 07-14-2006 at 11:04 AM.
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Old 07-14-2006, 11:06 AM
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Default Re: this looks like a hell of a deal

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Originally Posted by lakeluvr
I've seen a number of places come and go down here at LOTO. Someone comes in falling in love with the lake and sees the busy summer business and all the boats and antes up for a place like that one. Then the reality sets in afte the first year when you realize you need to make the years worth of money in about 3 months. And 3 hectic months at that.

exactly
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Old 07-14-2006, 11:07 AM
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Default Re: this looks like a hell of a deal

Wow, that does look like a heck of a deal. Up here in Traverse City, a place like that on the water would go in the millions pretty easy, and then it would be a steal. I imagine that if its what it looks to be in the pictures the return would pay for itself within a year or two. It also says house included, which could possibly be made to a rental also.
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Old 07-14-2006, 11:21 AM
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Default Re: this looks like a hell of a deal

Quote:
Originally Posted by CigDaze
Not necessarily. A typical 3br/2ba/2-car on a deep water canal with bay access can be had for about 500K. The same place acrossed the street (not on the water) is about 1/2 that.
This place is about a 1/4-mile from me: Big 4/2/2 on the water:
http://www.realtor.com/Prop/1056742534?lnksrc=00045
If I had a cool half mill we'd be neighbors.
I just remember those houses along pass a grille. Those were steep.
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Old 07-14-2006, 11:23 AM
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Default Re: this looks like a hell of a deal

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Originally Posted by fund razor
If I had a cool half mill we'd be neighbors.
I just remember those houses along pass a grille. Those were steep.
Well, that's Pass-A-Grille for ya (and Tierre Verde, too)....that's big bucks, but that's right on the gulf with a view. It takes 10 minutes to get there from the bayside by boat. It's amazing what a few miles does.
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Old 07-14-2006, 11:45 AM
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Default Re: this looks like a hell of a deal

Quote:
Originally Posted by CigDaze
Not necessarily. A typical 3br/2ba/2-car on a deep water canal with bay access can be had for about 500K. The same place acrossed the street (not on the water) is about 1/2 that.
This place is about a 1/4-mile from me: Big 4/2/2 on the water:
http://www.realtor.com/Prop/1056742534?lnksrc=00045

Nick, We just got a re-assessment on our 2br/2b 1st floor condo in St Petes. It is on a deep water canal about 2/10 of a mile from the intercoastal and 2 miles from the inlet to open water(no, no wake zones yet). It has tripled in the 3 years we have owned it. It came in at just under $400k !! Im glad I bought when We did.
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Old 07-14-2006, 12:42 PM
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Default Re: this looks like a hell of a deal

It's got to be possible to make money on that, as CigDaze said. On Long Beach Island here in NJ, most of the businesses have that same short season (Memorial Day - Labor Day) to make their money for the year in....and the property they sit on costs them WAYYYY more than that.
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Old 07-14-2006, 12:54 PM
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Default Re: this looks like a hell of a deal

DOes anybody know:
Is it a good location on the lake or hard to get to?
How are the property taxes down there?
Easy to get a liquor license?
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Old 07-14-2006, 01:00 PM
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Default Re: this looks like a hell of a deal

The tiki bar here in solomons island maryland covers the entire years expenses including salaries/supplies/equipment, everything in opening night alone. Everything after tiki bar opening is pure profit.
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