Rental Properties North of Grayton

**Smiling JOe** · 12-01-2004, 10:00 PM

I am thinking about building 2-4 rental houses 3 miles north of Grayton Beach, near the Bay. I would appreciate any constructive feedback regarding this idea. These would be seasonal rentals, and of course, I would be looking for Snow-Birds for the Winter. Peak season rents would need to be a minimum of about $900/week, and for the Snowbirds, I don't think I would have a problem keeping them filled at $900/mo.

Any thoughts?

**kurt** · 12-01-2004, 10:17 PM

I hadn't thought about short term North of 98 that's not on the water. Interesting idea. I think the key would be to do the right marketing to get them filled and get people to come back again and again.

Maybe try just one out first.

**RiverOtter** · 12-02-2004, 10:29 AM

Originally Posted by Smiling JOe

I am thinking about building 2-4 rental houses 3 miles north of Grayton Beach, near the Bay. I would appreciate any constructive feedback regarding this idea. These would be seasonal rentals, and of course, I would be looking for Snow-Birds for the Winter. Peak season rents would need to be a minimum of about $900/week, and for the Snowbirds, I don't think I would have a problem keeping them filled at $900/mo.

Any thoughts?

Is there a market for year round rentals there? OR Could you build and flip the houses?

**kurt** · 12-02-2004, 10:34 AM

Rent would have to be too high for long-term. Yes you could build and sell but Joe is looking for income so he can open his bar in Freeport.

**RiverOtter** · 12-02-2004, 10:37 AM

Originally Posted by kurt

Rent would have to be too high for long-term. Yes you could build and sell but Joe is looking for income so he can open his bar in Freeport.

I see :? I man with a plan 8)

**JEANNE** · 12-02-2004, 08:11 PM

Marketing is definitely the key I would say. I have a house now in Grayton Beach on Defuniak Street about 300yards from the water and this past summer was very disappointing. So far the winter isn't much better. I do have it listed with a rental agency...but the market is getting very flooded. New houses are being built constantly. The more the houses available the thinner the pool for renters. Between the taxes, insurance and upkeep...it's becoming a struggle. Not to rain on your parade, but you have to be prepared for anything. My houses value has tripled in the last 3 years.

I just hope I can hang on to it. Be careful!!

**kurt** · 12-02-2004, 08:21 PM

Originally Posted by JEANNE

Marketing is definitely the key I would say. I have a house now in Grayton Beach on Defuniak Street about 300yards from the water and this past summer was very disappointing. So far the winter isn't much better. I do have it listed with a rental agency...but the market is getting very flooded. New houses are being built constantly. The more the houses available the thinner the pool for renters. Between the taxes, insurance and upkeep...it's becoming a struggle. Not to rain on your parade, but you have to be prepared for anything. My houses value has tripled in the last 3 years.

I just hope I can hang on to it. Be careful!!

Hmmmm marketing a vacation rental in Grayton Beach. I wonder how you would go about that?

**RiverOtter** · 12-02-2004, 09:45 PM

Originally Posted by kurt

Originally Posted by JEANNE

Marketing is definitely the key I would say. I have a house now in Grayton Beach on Defuniak Street about 300yards from the water and this past summer was very disappointing. So far the winter isn't much better. I do have it listed with a rental agency...but the market is getting very flooded. New houses are being built constantly. The more the houses available the thinner the pool for renters. Between the taxes, insurance and upkeep...it's becoming a struggle. Not to rain on your parade, but you have to be prepared for anything. My houses value has tripled in the last 3 years.

I just hope I can hang on to it. Be careful!!

Hmmmm marketing a vacation rental in Grayton Beach. I wonder how you would go about that?

:idea: I hear there is a website :mrgreen:

**kurt** · 12-02-2004, 10:03 PM

Originally Posted by RiverOtter

Originally Posted by kurt

Originally Posted by JEANNE

Marketing is definitely the key I would say. I have a house now in Grayton Beach on Defuniak Street about 300yards from the water and this past summer was very disappointing. So far the winter isn't much better. I do have it listed with a rental agency...but the market is getting very flooded. New houses are being built constantly. The more the houses available the thinner the pool for renters. Between the taxes, insurance and upkeep...it's becoming a struggle. Not to rain on your parade, but you have to be prepared for anything. My houses value has tripled in the last 3 years.

I just hope I can hang on to it. Be careful!!

Hmmmm marketing a vacation rental in Grayton Beach. I wonder how you would go about that?

:idea: I hear there is a website :mrgreen:

Link please.

Anonymous · 12-03-2004, 06:20 AM

Originally Posted by kurt

Originally Posted by RiverOtter

Originally Posted by kurt

Originally Posted by JEANNE

Marketing is definitely the key I would say. I have a house now in Grayton Beach on Defuniak Street about 300yards from the water and this past summer was very disappointing. So far the winter isn't much better. I do have it listed with a rental agency...but the market is getting very flooded. New houses are being built constantly. The more the houses available the thinner the pool for renters. Between the taxes, insurance and upkeep...it's becoming a struggle. Not to rain on your parade, but you have to be prepared for anything. My houses value has tripled in the last 3 years.

I just hope I can hang on to it. Be careful!!

Hmmmm marketing a vacation rental in Grayton Beach. I wonder how you would go about that?

:idea: I hear there is a website :mrgreen:

Link please.

Ask and ye shall receive :mrgreen: www.sowal.com/bb :mrgreen:

If it doesn't work try refreshing your screen :wink:

Anonymous · 12-03-2004, 07:28 AM

Originally Posted by Anonymous

Originally Posted by kurt

Originally Posted by RiverOtter

Originally Posted by kurt

Originally Posted by JEANNE

Marketing is definitely the key I would say. I have a house now in Grayton Beach on Defuniak Street about 300yards from the water and this past summer was very disappointing. So far the winter isn't much better. I do have it listed with a rental agency...but the market is getting very flooded. New houses are being built constantly. The more the houses available the thinner the pool for renters. Between the taxes, insurance and upkeep...it's becoming a struggle. Not to rain on your parade, but you have to be prepared for anything. My houses value has tripled in the last 3 years.

I just hope I can hang on to it. Be careful!!

Hmmmm marketing a vacation rental in Grayton Beach. I wonder how you would go about that?

:idea: I hear there is a website :mrgreen:

Link please.

Ask and ye shall receive :mrgreen: www.sowal.com/bb :mrgreen:

If it doesn't work try refreshing your screen :wink:

All you need
http://www.mooncreek.com/rentaltours.html

**JEANNE** · 12-03-2004, 08:26 AM

:oops: GeeWiz, I get the hint!! I've been considering the virtual tour, etc. thing. Just looking into what all is out there. Plus, you gotta have the cash to produce the additional advertising.

I'm working on it Kurt!! Thanks for the info. Got any specials for the holidays???

**kurt** · 12-03-2004, 08:53 AM

Originally Posted by JEANNE

:oops: GeeWiz, I get the hint!! I've been considering the virtual tour, etc. thing. Just looking into what all is out there. Plus, you gotta have the cash to produce the additional advertising.

I'm working on it Kurt!! Thanks for the info. Got any specials for the holidays???

Sorry for the SPAM.

I don't understand owners of $1,000,000 +++ properties that rent for $5000 +++ per week worrying about a few hundred dollars for advertising that will bring them dozens of those high dollar bookings.

I guess it's a matter of perspective.

I have been known to trade every once in a great while. Usually gulf front though. :wink:

Anonymous · 12-04-2004, 11:49 AM

My property is not one of those 1,000,000+++ properties. Our land was in my family for decades. We only just put a modest house on the property 4 years ago. And right after that is when the real estate went out the roof. I suppose you are right though...I should just do what it takes to improve the rental situation. Otherwise, selling it may be the only other option. I surely do not want that to happen. I grew up at Grayton.

**Garner** · 12-04-2004, 01:10 PM

You'd be surprised! It may very well be a $1,000,000+++ property. I am a Realtor in the area and follow the market closely. Grayton Beach remains one of the most desirable communities, with prices in line (per sq. ft) with Seaside and Watercolor, but without the rules or maintenance fees.

**RiverOtter** · 12-04-2004, 01:35 PM

Originally Posted by Garner

You'd be surprised! It may very well be a $1,000,000+++ property. I am a Realtor in the area and follow the market closely. Grayton Beach remains one of the most desirable communities, with prices in line (per sq. ft) with Seaside and Watercolor, but without the rules or maintenance fees.

Shhhhhhhhhh..... Don't be telling her that. I was gonna make her an offer :wink:

**kurt** · 12-04-2004, 04:08 PM

Originally Posted by Anonymous

My property is not one of those 1,000,000+++ properties. Our land was in my family for decades. We only just put a modest house on the property 4 years ago. And right after that is when the real estate went out the roof. I suppose you are right though...I should just do what it takes to improve the rental situation. Otherwise, selling it may be the only other option. I surely do not want that to happen. I grew up at Grayton.

I just did a virtual tour on a shack in GB listed for $1.5M.

http://www.emeraldcoasttours.com/149garfieldstreet

**RiverOtter** · 12-04-2004, 07:31 PM

Originally Posted by kurt

Originally Posted by Anonymous

My property is not one of those 1,000,000+++ properties. Our land was in my family for decades. We only just put a modest house on the property 4 years ago. And right after that is when the real estate went out the roof. I suppose you are right though...I should just do what it takes to improve the rental situation. Otherwise, selling it may be the only other option. I surely do not want that to happen. I grew up at Grayton.

I just did a virtual tour on a shack in GB listed for $1.5M.

http://www.emeraldcoasttours.com/149garfieldstreet

Anonymous · 12-04-2004, 07:44 PM

Kurt, I love the virtual tour of the millionaire shack, especially the picture of the kitchen with the big Green Stamp sign on the wall. I wonder if they bought the house by saving Green Stamps.

Smiling JOe

**kurt** · 12-04-2004, 09:20 PM

Originally Posted by Anonymous

Kurt, I love the virtual tour of the millionaire shack, especially the picture of the kitchen with the big Green Stamp sign on the wall. I wonder if they bought the house by saving Green Stamps.

Smiling JOe

It's a cool little place but a $Mil doesn't buy much in Grayton Beach.

**RiverOtter** · 12-05-2004, 04:44 PM

Originally Posted by kurt

Originally Posted by Anonymous

Kurt, I love the virtual tour of the millionaire shack, especially the picture of the kitchen with the big Green Stamp sign on the wall. I wonder if they bought the house by saving Green Stamps.

Smiling JOe

It's a cool little place but a $Mil doesn't buy much in Grayton Beach.

Why don't they just go ahead an knock it down and then ask $1.500,000 for the porperty. Can you imagine trying to explaine that to an underwriter.... Well yes I understand it's only 1,000 sq feet and to replace it would only cost $150,000 but I need coverage for $1,500,000 :mrgreen:

**kurt** · 12-05-2004, 05:13 PM

Originally Posted by RiverOtter

Originally Posted by kurt

Originally Posted by Anonymous

Kurt, I love the virtual tour of the millionaire shack, especially the picture of the kitchen with the big Green Stamp sign on the wall. I wonder if they bought the house by saving Green Stamps.

Smiling JOe

It's a cool little place but a $Mil doesn't buy much in Grayton Beach.

Why don't they just go ahead an knock it down and then ask $1.500,000 for the porperty. Can you imagine trying to explaine that to an underwriter.... Well yes I understand it's only 1,000 sq feet and to replace it would only cost $150,000 but I need coverage for $1,500,000 :mrgreen:

The lot is worth about a million but you can't insure land and wouldn't want to if you could.

Construction costs here are $200-400 per square foot and the cottage is about 2000 square feet.

Most people don't "knock down" historice cottages here. In fact many are brought in from elsewhere. Not everyone is interested in condo boxes, or 4-story stucco houses.