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Buy a condo in LOTO?

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Old 07-19-2016, 11:03 PM
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Originally Posted by Wasted Income View Post
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.
Really??????????? First I've heard that.

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
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Old 07-20-2016, 12:58 AM
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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.
^ this. I currently own 2 houses at the lake. 1 rental and 1 is our residence. The rental does not pay for itself as much as I'd like it to. But, we are 70% into the note and hope to retain the property until we retire at which point we'll either sell it or keep on renting it.
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Old 07-20-2016, 01:14 AM
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Yea, I figured you already knew. Lol.

Looks, like the footage was from one of the SOTPR. Nice shot of Recovery too, with the side blurred out. Lol
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Old 07-20-2016, 08:10 AM
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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.
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Old 07-20-2016, 08:47 AM
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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.
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Old 07-20-2016, 09:39 AM
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Originally Posted by Griff View Post
Really??????????? First I've heard that.

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
your fenders were still hanging while running.
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Old 07-20-2016, 11:40 AM
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Old 07-20-2016, 12:28 PM
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Originally Posted by BDiggity View Post
your fenders were still hanging while running.
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

Last edited by Griff; 07-20-2016 at 12:35 PM.
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Old 07-20-2016, 02:54 PM
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It is hard to film on the lake and Recovery not end up in your footage! He was out again this weekend! Love it!
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Old 07-20-2016, 05:47 PM
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It is hard to film on the lake and Recovery not end up in your footage! He was out again this weekend! Love it!
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