Home Buying in Marco Island>Question Details

Vkmittal, Home Buyer in Marco Island, FL

Cozumel at marco island is it a good investment? .

Asked by Vkmittal, Marco Island, FL Sun Feb 17, 2013

I was at Cozumel condo property and asking price is 1.2 million on 13th floor. It has all goodies you can imagine.
My question is that it has a very high condo maintenance fee and overall, monthly expenses are around 25,000 dollars. I am looking for a long term appreciation in 5 years . Is it worth buying for investment? I will be renting three months a year Jan-March to compensate the monthly expenses.
I need a good analysis by a realtor.

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Answers

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Many factors go into investment anaylsis. Your tax bracket, how much you finance, current interest rates on money, both the cost to borrow and the interests earned on cash.
You will never cash flow the unit with a mortgage. If you pay cash, you shold be able to return enough to cover your expenses if you rent it 3 months at year @$10,000 a month. If you take it as a retnal property for tax purposes, your expenses including depreciation, taxes, maintenace fee, insurance, and some travel to maintain the property should be deductable, but always contact a tax expert for your specific situation. Because it is a condo, the full amount of purchase price should be dedutable on a 27.5 year basis for depreciation. So, if you add tax benefits, income, minus expenses,and then add some appreciation, which is never guaranteed, but I think we will see normal appreciation of 3-4% a year in the future, it looks OK on paper.
Let me know if I can help.
239-564-3078
1 vote Thank Flag Link Sun Feb 17, 2013
IN COZUMEL AS ALL ARROUND THE WORLD ARE MANY OPTIONS TO BUY A PROPERTY, ONE BIG POINT IS IF YOU MAKE AN INVESTMENT IN MEXICO THE EXCHANGE RATE BETWEN US DOLLAR AND MEXICAN PESOS GIVE YOU AN AMAZING ADVANTAGE AS A FIRST VIEW, THEN YOU COULD HAVE AN OPTION TO BUY AN AUCTION PROPERTY. SO WITH THE ADVANTAGE FOR THE EXCHANGE RATE PLUS THE OPPORTUNITY TU BUY A PROPERTY AT 50 OR 60% OF THE REAL COST. GIVE YOU A GOOD INVESTMENT. AND COZUMEL IS A MAGIC PLACE. MORE INFO YOU COULD CONTACT ME. bienesraices.oportunidades@hotmail.com
0 votes Thank Flag Link Tue Jul 9, 2013
Properties like Cozumel rarely pencil...you really need to enjoy it and enjoy the beach. That is why you buy it. If we can help with other properties that will pencil, we surely would like to help. Try this link to a HOT PROPERTY ALERT we sent out to our client list this week. This is a bundled golf property. and you could buy a bunch of them for what Cozumel will cost you. MLS#212022827 $219,000 Furnished
http://www.naplesrealestateguys.com/bonita-springs-florida/v…
0 votes Thank Flag Link Sun Feb 17, 2013
lol.
Flag Mon Feb 18, 2013
Comparing the sales price of this unique property to others on the island , sales history and a custom marrket analysis is needed to determine the investment potential, I will be able provide that info and email to you,
Sincerely
Susan LaGrotta, Realtor
Prudential Florida Realty
Marco Island, Fl. 34145
239.438.7776
Susan@SusanLaGrotta.com
http://www.SusanLaGrotta.com
0 votes Thank Flag Link Sun Feb 17, 2013
Vkmittal,

After reviewing these programs below, please email me at Steve@pro-option.com with the ones you'd like more info about:


4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!

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Stated Income Alt Loan programs

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16) 70% LTV- Hard Money to Jumbo

17) Lot Loans / Land Loans Too!

Go to: http://WWW.PRO-OPTION-COM or call 888-662-4404
0 votes Thank Flag Link Sun Feb 17, 2013
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