Purchasing Investment Properties In Destin Florida
Just as certainly as tourist get sunburns, visitors will consider buying investment properties in Destin Florida. Thanks to the area's natural beauty guests come here year around. Combine this with the strong military footprint (home to the largest Air Force base on Earth) Destin becomes an attractive location for investment dollars. Let's look at some potential property revenue streams.
1) Short Term Vacation Rentals--A drive down hwy 98 attest to the popularity of rental condos. These buildings will have long rental histories and repeat guests who return once or twice a year. The rentals can be seasonal, but owners will often do 2-3 month "long term" rentals to the snowbirds during off season. Care must be taken when seeking a condo loan, watch the video below for details.
2) Traditional long term rentals-- As mentioned above, we are fortunate to have a strong military presence along the Emerald Coast. The demand for 6 month-one year leases remains strong. While capturing less per night that a peak-season short term rental, the long term provides more stable income.
3) Flip Properties-- With the increase in property value of late, buying a home, slapping on some paint, then selling for a fat profit is appealing. Math remains math though. Carefully budget purchase price, renovation (ALWAYS go high), holding, and selling costs. What's that final anticipated sales value? Do the numbers make sense? How long will the renovations take? How long will the finished product need to attract a buyer? What's the plan if it won't sell? Can you rent it out pretty easy?
Greater Destin Florida has been popular since the first traffic light was installed. I type this post from the oldest real estate building in Destin. Back in 1973 the average sales price was 17,000 bucks. The escrow check from my last deal exceeded that amount.
An Important Not On Vacation Condo Financing
Searching for a top real estate agent in Destin Florida? If so, call Doug Rogers (318) 613-1994 with RE/MAX Coastal Properties today! Want to see homes for sale along the Emerald Coast RIGHT NOW? Go to Destin Florida Homes For Sale to explore properties listed on the local MLS.
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