When Is Pre-construction NOT A Good Deal?
I have longed thought of adding a "passive" investment of a pre-construction condo somewhere between Jacksonville and Daytona.
What kind of "opportunities" should I be staying away from and should I really be focusing on ocean/water view units?
My strategy would be to hold for 1-3 years with a goal of renting it out approximately 40% of the time.
I look forward to your comments.
[addsig]
The Florida market is really catching up with apprecaited prices like CA. Waterfront in Flordia has had a constant apprecaition to what i have found no less than 18% a year, the last 2 years in the Clearwater area has bee 24%. The nice thing about waterfront is you have a huge draw for vacationers, so occupying it 50% of the time is really conservative, considering Florida has a huge Eurpean draw and there vacation is not like ours, it is 2-3 months long. I have a place in Clearwater that is rented out 86% of the year, in just 5 months the rent off it almost covers me for the entire year. There has been a lot of speculation about the FL market, i see folks pushing SC and NC and the nice thing about the RE market is it is always good somewhere. I think FL just has some very strong historical value to it. Since 911, tousism has increased 35%, as this is the southern most part of the state you can go without leaving the country...hope i didnt muddy the water...[ Edited by cbrechbill1 on Date 04/27/2005 ]