LOTO rentals
#11
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Let me sum it up for you in my relative terms.
Our Ft Lauderdale area house is worth about $2mm as of today. The house we will be finishing up at the Lake(19mm) next year will be nearly the same value. HOMSTEADED property taxes are about $30k in Ft Lauderdale and will only be about $2800 at LOTO on a vacation home.
I could list a bunch of reasons the Lake isn't headed for anything like 2008, but there will always be naysayers and cheerleaders. Just buy what you like and can afford, if you aren't trying to flip it, or sell anytime soon, no downturn will matter, even in the longshot it happens.
Our Ft Lauderdale area house is worth about $2mm as of today. The house we will be finishing up at the Lake(19mm) next year will be nearly the same value. HOMSTEADED property taxes are about $30k in Ft Lauderdale and will only be about $2800 at LOTO on a vacation home.
I could list a bunch of reasons the Lake isn't headed for anything like 2008, but there will always be naysayers and cheerleaders. Just buy what you like and can afford, if you aren't trying to flip it, or sell anytime soon, no downturn will matter, even in the longshot it happens.
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#12
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Let me sum it up for you, You act like no one else gets an opinion, seems the biggest cheerleaders in this thread are ones trying to move land, all this posturing Hey look at me, I could give two ****s,
Last edited by F-2 Speedy; 09-19-2023 at 06:47 PM.
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93 shooter (05-01-2024)
#13
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I must be one of the few that doesn't see the attraction with LOTO, been there a handful of times, just another body of water with bars,
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105Fountain (09-20-2023)
#14
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#15
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I was thinking of purchasing a place in ROTO butr it feels like after Covid the place is over saturated with BRBO`s?
If I was looking to break even is this still possible or did I miss the boat (pun intended) ?
The places Im looking at were half the price 3 years ago
I know Biden will kill this economy more and more and if there is a crash and I payed double ...thats not good .. but that may never come.
If I was looking to break even is this still possible or did I miss the boat (pun intended) ?
The places Im looking at were half the price 3 years ago
I know Biden will kill this economy more and more and if there is a crash and I payed double ...thats not good .. but that may never come.
I bought my condo pre covid at less than half of it's current value and if I was renting it, I'd still need to rent it about 70 nights a year to break even if I was using a management company.
I'd say that the 2 people who responded and you are referring to who actually own and develop property at LOTO have a lot more knowledge about the LOTO real estate market than a guy who visits the lake once or twice a year for a long weekend.
#16
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As for rental property, I agree with Griff above. A friend just dropped over $500K on a new unit (in the yet to be completed building facing towards Dog Days) at Topsider. Thinks he can swing it by renting it out. NFW. The math doesn't work. I'd sit back and wait and see how inventory does over the next several months.
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#17
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And I also told the OP to buy what he likes or can afford, and that all downturns(if) right themselves. For example, how does the price point look now compared to Pre-2008?
#18
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Lake Expo article that just came out today relative to the discussion
https://www.lakeexpo.com/real_estate...5270e631d.html
https://www.lakeexpo.com/real_estate...5270e631d.html
#19
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Lake of the Ozarks It's booming but rates are going up hope it stays booming there & nation wide
#20
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I may not boat on the lake much but that has nothing to do with the amount of times Ive gone to look at properties and was ready to buy when things went crazy, so the tracker you planted on my truck must be broken....