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this looks like a hell of a deal

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Old 07-14-2006, 01:09 PM
  #21
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Default Re: this looks like a hell of a deal

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Originally Posted by otis311
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.
That's awesome, Bob. Your proximity to the IC is a nice feature.
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Old 07-14-2006, 01:19 PM
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Default Re: this looks like a hell of a deal

Having been involved in a similar business, yea you can make money, and yea its a chit ton of work and headaches. But the real problem is you get to work while everyone else is having fun, trust me that will wear on you.

WILL
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Old 07-14-2006, 02:48 PM
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Default Re: this looks like a hell of a deal

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Originally Posted by BRET
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?
Location is not the best by water, but not terrible. If you've heard of the Horny Toad, its about 10 miles from there by water. Its on the Gravois Arm at the 8mm. That would make it 8 miles off the main channel which gets the most travel.

Property taxes are way cheap on residential at LOTO. I would think they are the same for commercial. I would guess somewhere around 3-4k/year.

Liquor license, I don't know. Can't be that hard as new places pop up all the time.
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Old 07-14-2006, 03:33 PM
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Default Re: this looks like a hell of a deal

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Originally Posted by BRET
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?

That is an awful long commute from Lake George everyday Bret.
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Old 07-14-2006, 03:47 PM
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Re: this looks like a hell of a deal

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Originally Posted by otis311
That is an awful long commute from Lake George everyday Bret.
Don't have to commute if you live there full time Robbie.
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Old 07-14-2006, 07:54 PM
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Default Re: this looks like a hell of a deal

Up the Gravious arm 8 miles, not a great location, impossible to get to by land, none of the docks meet Ameren UE encapsulated foam reuirements, last buyer with owner financing could not make it. There are so many bars on the water its not a popular bar for the masses, also highway 5 is being redirected in the near future will affect part of the land. only 1 dock there needs work, suppossed to be permits for the other 2 but I would be leary of a new dock permit, I know most of the bar owners at LOTO and none of them have any interest in it, try getting people to work it at LOTO, almost impossible, very difficult to get anyone to show up on time and work here, we need a better blue collar work force here, turnover is unbelievable, just my 2 cents and yes you have 4 months to make it then payments still keep going for the next 8 months
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Old 07-14-2006, 11:19 PM
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Default Re: this looks like a hell of a deal

hell on the chesapeake it would be in the millions.........

excuse the pun but something sounds fishy here
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