Misc Aquatera

[John R]

Sorry I didn't make it to the Par-tee...and I'm sure by now all the contracts have been scooped up.

Not to be outdone, I was planning on investing in another waterfront condo ($700K), the Realtor sent me this tape--tell me what you all think: Deal...or No Deal?

not a penny more than 650,000, and only if it comes with an assigned parking spot

 

[Smiling JOe]

Sorry I didn't make it to the Par-tee...and I'm sure by now all the contracts have been scooped up.

Not to be outdone, I was planning on investing in another waterfront condo ($700K), the Realtor sent me this tape--tell me what you all think: Deal...or No Deal?

That may be the funniest thing I have seen you post, Shelly! :rofl: I guess that is what is called a cheap virtual tour. They should have hired Kurt.

 

[InletBchDweller]

That was great!! I almost spit out my coffee laughing so hard!!! :rofl: :rofl:

Sorry I didn't make it to the Par-tee...and I'm sure by now all the contracts have been scooped up.

Not to be outdone, I was planning on investing in another waterfront condo ($700K), the Realtor sent me this tape--tell me what you all think: Deal...or No Deal?

 

[dsilvar]

Not to be outdone, I was planning on investing in another waterfront condo ($700K), the Realtor sent me this tape--tell me what you all think:

Well, I did'nt think that was very funny. Sorry. Denegrating condo owners/investors and condo living is just not funny. Oh well maybe for all you 30-A royalty, but constantly making condo ownership look like a bad investment does not make it so. Shelly, all your prognostication may very well ammount to naught, and then maybe you'll be lucky to catch a condo at 700K with or without a parking space.
Time will tell..I'll be happy to drop yall a postcard in a few years.

 

[Smiling JOe]

Well, I did'nt think that was very funny. Sorry. Denegrating condo owners/investors and condo living is just not funny. Oh well maybe for all you 30-A royalty, but constantly making condo ownership look like a bad investment does not make it so. Shelly, all your prognostication may very well ammount to naught, and then maybe you'll be lucky to catch a condo at 700K with or without a parking space.
Time will tell..I'll be happy to drop yall a postcard in a few years.

I think Shelly was mocking Realtors in this clip. ;-)

 

[Unplugged]

I think Shelly was mocking Realtors in this clip. ;-)

Or perhaps REALTORS? ;-)

 

[SHELLY]

Shelly, all your prognostication may very well ammount to naught, and then maybe you'll be lucky to catch a condo at 700K with or without a parking space.

Maybe...maybe not....but the way I look at it is 700K would go a long, long, long way toward renting vacation condos for a couple weeks a year all around the world (not just stuck in one place). More likely than not, I'd be dead before the 700K vacation money ran out.

Renting out a 700K investment condo would--with carrying costs-- in "today's" Florida (with more competition and higher expenses) result in negative cashflow....not my idea of a good investment.

Oh...and my subjects say I'm far from being "royalty" (cynical and sarcastic--yes)...they do, however wonder about the "Car on your Tar" ;-)

 

[sberry123]

Shelly, 700K for this efficiency, this is a joke I hope. :shock:

 

[dsilvar]

Renting out a 700K investment condo would--with carrying costs-- in "today's" Florida (with more competition and higher expenses) result in negative cashflow....not my idea of a good investment.

Ok Ok Ok..lets look at some rough figures.
Finance $700K @6% (no down!) about $5000 and HOA etc $1K, for a total of $6000/month.
Now 70K will get you a penthouse condo that rents most places in costal Florida for $2000/week.
Say you rent 26 weeks/year...that makes it $20K to own /enjoy for 6 months.
Fast forward 5 years..note now at 600K and "carrying" costs at 100K and condo market value at $1.3 mil.
You can work out the capital gains.
Just one feasible scenario.

 

[TooFarTampa]

Ok Ok Ok..lets look at some rough figures.
Finance $700K @6% (no down!) about $5000 and HOA etc $1K, for a total of $6000/month.
Now 70K will get you a penthouse condo that rents most places in costal Florida for $2000/week.
Say you rent 26 weeks/year...that makes it $20K to own /enjoy for 6 months.
Fast forward 5 years..note now at 600K and "carrying" costs at 100K and condo market value at $1.3 mil.
You can work out the capital gains.
Just one feasible scenario.

But an overly optimistic one. You forgot property taxes and insurance, which now cost too much to fall into the "etc" category. Not to mention hefty commissions for the property manager. And the fact that the recent growth in prices is unsustainable, by any measure and study. SHELLY may be a pessimist but as someone who deals daily with the carrying costs and assorted "adventures" that come with owning rental property, I would say her statements are more accurate than anything in the above scenario ...