Buy a condo in LOTO?
07-19-2016 | 11:03 PM
#11
Charter Member # 55
Joined: Oct 2000
Posts: 20,241
Likes: 2,490
From: Omaha/LOTO
HGTV has a show called Lakefront Bargain Hunt....I watched the LOTO episode a couple weeks back. They were looking for condos as well...not sure if it would be any help to you.
Sucks that you have to pay to watch it on youtube.
https://www.youtube.com/watch?v=qoL6qXpum7k
BUT, there's lots of powerboat footage on the show....including some of Griff's AT.
Sucks that you have to pay to watch it on youtube.
https://www.youtube.com/watch?v=qoL6qXpum7k
BUT, there's lots of powerboat footage on the show....including some of Griff's AT.
I know Terry Summers is the realtor on the show, but had no idea my boat was in it.
I think I'm going after some royalty fees
07-20-2016 | 12:58 AM
#12
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Joined: Oct 2008
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As Griff said the rental is strictly a rental and tenant is under 12 month lease. You will be hard pressed to cover full debt service if you are financing property. I would think covering the HOA expenses and maybe 4 months of debt service is a more realistic goal. One big expense when we did nightly rentals was the cleaning costs that you don't realize you will end up spending a ton on.
07-20-2016 | 08:10 AM
#14
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Joined: Jan 2008
Posts: 398
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From: Wright City, MO
Anybody have any prices they want to share for a year long rental?
I thought about doing the same thing the OP wants to do but the numbers just didn't work out, especially considering I would be at the lake most of the big weekends. It's cheaper for me to rent a place or stay with friends the 8-10 weekends a year I'm there. I'm also convinced I would go more often if I had my own place all the time so renting a house/condo for a year might be a good way to see how much I would use it and see if its feasible to buy a place of my own.
I thought about doing the same thing the OP wants to do but the numbers just didn't work out, especially considering I would be at the lake most of the big weekends. It's cheaper for me to rent a place or stay with friends the 8-10 weekends a year I'm there. I'm also convinced I would go more often if I had my own place all the time so renting a house/condo for a year might be a good way to see how much I would use it and see if its feasible to buy a place of my own.
07-20-2016 | 08:47 AM
#15
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Joined: Jan 2009
Posts: 389
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From: Stilwell, KS
I'd be in on a 1/2 & 1/2 LOTO timeshare. It seems the big problem with that is holiday weekends but as long as it's a two+ bedroom & 2 bath, both timeshare holders can still enjoy the holiday weekends at the same time. (Wouldn't bother me as long as there is still room to park the boat) Normal timeshare the rest of the year.
07-20-2016 | 09:39 AM
#16
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Joined: Feb 2005
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From: Palm Bay FL
07-20-2016 | 12:28 PM
#18
Charter Member # 55
Joined: Oct 2000
Posts: 20,241
Likes: 2,490
From: Omaha/LOTO
Doh!!!!!!!!!! 20 seconds in 2008 at SOT and immortalized on youtube forever
The screenshot posted by Wasted Income is from 2013 SOT and Mike Summers should be just off to my right.
About the 2:30 min mark https://www.youtube.com/watch?v=_J8iy0f8DG0
The screenshot posted by Wasted Income is from 2013 SOT and Mike Summers should be just off to my right.
About the 2:30 min mark https://www.youtube.com/watch?v=_J8iy0f8DG0
Last edited by Griff; 07-20-2016 at 12:35 PM.
