It's gonna be hard to better than this in WaterSound Beach

There are several qualified contractors on the approved list who would be happy to have the opportunity to perform the final trim out on this project and a qualified do-it-yourself buyer could do even better.

...by "qualified" you mean someone with good credit and/or cash and a high tolerance for risk?

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...by "qualified" you mean someone with good credit and/or cash and a high tolerance for risk?

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In the case of a do-it-yourself Owner I mean it is perfect for someone who has decent credit and a personality strong in gratitude, non-wasteful with a good work ethic. This Buyer should have an investment account that is looking for something tangible. This do-it-yourself Buyer should have a schedule that would permit hands on work and a united family effort would be beneficial for more than just monetary reasons too.

In the case of a do-it-yourself Owner who has developed a couple houses previously it is as simple as deciding the final decor and putting together the tradesman. Work a plan with stick-to-itiveness.

In the case of a do-it-yourself Owner I mean it is perfect for someone who has decent credit and a personality strong in gratitude, non-wasteful with a good work ethic. This Buyer should have an investment account that is looking for something tangible. This do-it-yourself Buyer should have a schedule that would permit hands on work and a united family effort would be beneficial for more than just monetary reasons too.

In the case of a do-it-yourself Owner who has developed a couple houses previously it is as simple as deciding the final decor and putting together the tradesman. Work a plan with stick-to-itiveness.

Sounds too much like work.

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Sounds too much like work.

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Nothing valuable comes easy.......at least not without consequences later.

Nothing valuable comes easy.......at least not without consequences later.

....that should have been printed on a 2x4 and used to smack the investulators upside their empty heads. :roll:

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....that should have been printed on a 2x4 and used to smack the investulators upside their empty heads. :roll:

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Needacoolname, With a 100 large, You should wait out the summer period if your jonesing to buy... you can spin numbers any way you want on rentals. Your 20% down will probably turn into a greater percentage after that. This market isnt going anywhere. The 2nd home folks in 30A are still using savings to get by, wait till this group discovers that Tuition, Groceries, 1st home, BMW, Club Membership, Granite counter tops, Sub zero appliances, etc......and finally 2nd vacation home are not adding up. Your money is better sitting at 1 to 2 %, waiting to strike..... Like my grandfather said, the 49's made history, but the 59's made money........When that works thru the market...BINGO.

Needacoolname, With a 100 large, You should wait out the summer period if your jonesing to buy... you can spin numbers any way you want on rentals. Your 20% down will probably turn into a greater percentage after that. This market isnt going anywhere. The 2nd home folks in 30A are still using savings to get by, wait till this group discovers that Tuition, Groceries, 1st home, BMW, Club Membership, Granite counter tops, Sub zero appliances, etc......and finally 2nd vacation home are not adding up. Your money is better sitting at 1 to 2 %, waiting to strike..... Like my grandfather said, the 49's made history, but the 59's made money........When that works thru the market...BINGO.

I completely disagree and that was the point of the Thread. I'm going to put your Post into real life context:

There are about 500 residential units in WaterSound Beach. The $450,000 home is the best priced property ever sold and there is no other property on the horizon that is being offered at a better price.

I completely disagree and that was the point of the Thread. I'm going to put your Post into real life context:

There are about 500 residential units in WaterSound Beach. The $450,000 home is the best priced property ever sold and there is no other property on the horizon that is being offered at a better price.

It's an "unfinished" house with a $450,000 pricetag.

Why do you reckon that--assuming this is as good of a deal/investment as you say--none of the builders or developers have snapped this up at that price to finish for resale?


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All the VRBO links I proferred were rentals by owner. In that scenario there is no $1,800 per month in maintenance fees. I think you'll find that most successful VRBO's have small, local cleaning/maintenance companies handling the check out responsibilities for about $200.00 per visit on average. The trade off is that you may well get WaterSound Beach's Cottage Rental Company to take this home into their program and possibly gross $65,000. They charge a full service rental management fee, but your guests get use of the WaterSound Beach club as part of their program.

There's also the issue of joining the beach club to bypass that isn't there? More math.

It's an "unfinished" house with a $450,000 pricetag.

Why do you reckon that--assuming this is as good of a deal/investment as you say--none of the builders or developers have snapped this up at that price to finish for resale?


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Their all broke?

It's an "unfinished" house with a $450,000 pricetag.

Why do you reckon that--assuming this is as good of a deal/investment as you say--none of the builders or developers have snapped this up at that price to finish for resale?


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This house will sell when over a hundred others don't. Professional builders and developers who have cash or credit on hand buy properties like this. This one will probably go to an individual who knows vacation rentals and already has some in their stable.

I know 4 different WaterSound Beach Owners now who wish they had this property rather than their own.

There's also the issue of joining the beach club to bypass that isn't there? More math.



Their all broke?

JOE gave us all the option of joining the Beach Club, but it was a limited time offer. Some of us joined and some chose not to. This property did not buy a membership. It's funny, I used to see one of the Owners playing tennis over there anyway.

People guessed that JOE would change its position on new members, but they haven't. Even in this market, a new owner of this property couldn't hand JOE a check for $20,000 and still get a Beach Club membership.

JOE gave us all the option of joining the Beach Club, but it was a limited time offer. Some of us joined and some chose not to. This property did not buy a membership. It's funny, I used to see one of the Owners playing tennis over there anyway.

People guessed that JOE would change its position on new members, but they haven't. Even in this market, a new owner of this property couldn't hand JOE a check for $20,000 and still get a Beach Club membership.

Okay I couldn't remember what membership entailed.

I know 4 different WaterSound Beach Owners now who wish they had this property rather than their own.

The 11th Commandment: "Thou shalt not covet thy neighbor?s foreclosure"


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The 11th Commandment: "Thou shalt not covet thy neighbor’s foreclosure"


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Indeed. A little gratitude in the attitude goes a long way.


So what's your take on the one of these that already went under contract even though they raised the price $65,000 in an epic bear market?

Boom. There went the second of the two. I can't tell who brought the Buyer because I am not a Realtor.

Congratulations to that Buyer and the Realtors involved. This is what the bottom looks like.

Boom. There went the second of the two. I can't tell who brought the Buyer because I am not a Realtor.

Congratulations to that Buyer and the Realtors involved. This is what the bottom looks like.

Are you looking down or up at the bottom? That's usually a telling sign.

So what's your take on the one of these that already went under contract even though they raised the price $65,000 in an epic bear market?

...it proves that the bigger fool isn't yet extinct?

<Let's revisit this when it closes.>

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Are you looking down or up at the bottom? That's usually a telling sign.

My business is very different. Price doesn't matter, only movement matters.

My business is very different. Price doesn't matter, only movement matters.

price doesn't matter for a contractor. wow, that's a first

To "needacoolname". I am not a real estate agent... just an Average Joe who has been looking at the 30-A market for a while now. Try connecting with an experienced realtor down there who can help you even further with your rental property questions. My husband and I are looking to buy, the same as you, and rent the property out. If you find a home you are interested in, your realtor can pull a rental history report from the management company of the property. If it has never been in a rental program, your realtor can still have a management company pull rental history on neighboring homes to give you an idea of what that house might bring in. I'm also willing to bet your realtor can connect you with clients who are renting their property. If they are open to assisting you, they can give you a financial model to follow that will help you determine a worst and best case scenario for cash flow. It helps determine what you can stomach and truly what your buying range might be. This, of course, has nothing to do with pre-qual, etc., etc.. This is just what you personally can handle both financially and emotionally.

Just keep poking around. There are lots of ways you can go from a property management perspective. You'll find something that works for you. If you can handle the "worst case scenario", then changing from doing it yourself to even the most expensive management company won't be so stressful.

Good Luck !

Another note. I have called some VRBO'ers and just asked for a moment of their time. I have found them to be very helpful and willing to connect me to people down there (i.e. concierge's etc.). I literally just called the number on the site and bingo!