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Thinking of buying some investment property at loto anyone else?

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Old 12-20-2010, 12:07 AM
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Never stayed at ledges we always stay at tan tara and love the area. Their estate area is where I am currently interested in. Golf course and water
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Old 12-20-2010, 12:20 AM
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Another one for Terry Summers, hell of a guy. He and his wife will go out of thier way for you and are very strait shooters.

Oh and you DO NOT want to buy in Tan Tara, you own the home but never the ground it's built on, that you have to lease... for as long as you own the home.

Their are several other areas that have the amenities that Tan Tara have with out the BS.

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Old 12-20-2010, 12:39 AM
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Another one for Terry Summers, hell of a guy. He and his wife will go out of thier way for you and are very strait shooters.
Another plug for Summers, we bought a condo and then a house with him. Last January he went out on the ice and used a hatchet to cut a hole and then took a tape measure to check depth. Hard to find a better agent at the lake.
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Old 12-20-2010, 02:05 AM
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If you use a management company, I highly doubt there is any way that you could even come close to breaking even with rentals covering your mortgage payments and quarterly dues for the year. The complexes with the highest rental occupancies that I know of are Heron Bay and The Ledges.
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Old 12-20-2010, 08:21 AM
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Thanks griff. It might not be the right fit for my investment and if the numbers don't work I will walk, but I hope to find a fit. If not it's another boring house in a boring high rent town somewhere lol
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Old 12-20-2010, 09:31 AM
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If you use a management company, I highly doubt there is any way that you could even come close to breaking even with rentals covering your mortgage payments and quarterly dues for the year. The complexes with the highest rental occupancies that I know of are Heron Bay and The Ledges.
+1

We have a couple units and use one exclusively as a rental. I'd go the Vrbo route and avoid the management company unless you like seeing someone in your unit for the weekend yet when you ask the management company they don't have any record that it was rented tha weekend LOL.

You will be hard pressed to do full debt service but if you have other cash positive rentals it helps to offset. This last season was our best to date and I do remember we had 28 nights rented in July. I actually have someone checking in today and checking out mid january (though rates are cheap this time of year).

Make sure you get a large slip. Many have regretted only getting a slip large enough for their current boat.

Good luck and though I haven't used Terry Summers personally I know of many that have been very happy with his service.


-Josh
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Old 12-20-2010, 10:12 AM
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If you like the Tan-tar-a area there are several condo/townhome developments real close, Baypoint Village, The Knolls, Three Seasons and they're nice, also.

Good luck
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Old 12-20-2010, 10:19 AM
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Originally Posted by Griff View Post
If you use a management company, I highly doubt there is any way that you could even come close to breaking even with rentals covering your mortgage payments and quarterly dues for the year. The complexes with the highest rental occupancies that I know of are Heron Bay and The Ledges.
Exactly Griff & with the management co fees and counting on them to keep the unit rented never even close to break even ... with a crystal ball shoulda, bought a half dozen of them in 2000 and sold in 2004 but on the brite side theres 1000s to pick from now good luck
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Old 12-20-2010, 10:31 AM
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If anyone is looking to buy, my Dad has a condo at the Ledges for sale.
3 bdrm+ loft.
[email protected]

Thanks

Terry
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Old 12-20-2010, 01:01 PM
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I started out going to rent mine but found out its hard to rent when we are there most every weekend. Best thing I ever did, Love it. I do have a friend that ownes several rental condos and he does very well on them. I saw the figures. If you would like more info pm me and will get you his number and you can talk with him directly. Good luck.
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