Destin Vacation Rentals And Flipping
Interested in purchasing beach house in Destin area for rentals or to turn over a preconstruction deal. Any advice from someone who has done these and knows the Destin area market would be appreciated. The real estate agents tell you you can flip good pre-construction deals but I know they're a little biased. I'm also interested in opinions about financing options to get in with little money down and best terms. Credit scores from 770 to 790. I can put money down if need be. I've talked with some brokers about 80/10/10 and 5% down ARM deals among others. It gets pretty confusing when you start trying to factor PMI in the deal.
I've done some construction and development in RE in the past, so I'm not totally new.
I have family in Destin with investment property. They make a killing. I recently checked into pre-construction If and I mean IF you can find pre-construction you will make 20K +. There are very few places to build in destin so once the pre-construction for a condo is sold the prices jump big time. But you have to put down 10% up front.