Home Buying in Cocoa Beach>Question Details

Ldi, Other/Just Looking in Bergen County, NJ

Is Cocoa Beach a good investiment area?

Asked by Ldi, Bergen County, NJ Sat Aug 7, 2010

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Cocoa Beach is a great investment area. Especially if you can get a steal. A lot of sellers in the area are still not paying attention to the lowered values of homes but every once in a while you come across a great buy.
0 votes Thank Flag Link Mon Apr 23, 2012
Thank you so much for the information. Please feel free to email me your listings..Ldidi@optonline.net
0 votes Thank Flag Link Sun Aug 8, 2010
Ldi, They are so close together some have a problem seperating the two. By the way the Port is in the planing stages of building a complex shopping area on site also.
I understand about t renting for 3 months at time. IUt sounds nice, but they do not rent right away at times. If you are going to pay a mortgage, you must make sureypu hve the funds if it does not rent right away. I would sy to make sure you have at least 3 months in reserve. It depends on time of year. That is why I say if you rent, condos unles paying cash for them are not a great deal. But if this is something for the future to move into it may be worth it.
I would rather see people buy homes, duplexes or quadraplexes to rent.
Yes Ron Jon's is in the works of Building a Water Park.
Whyt nit e-mail me so I can put you in my Prospect Management System to send you the latest Active Listings that will tell you more than any other site. My e-mail is , peter.dolci@era.com. I will be waiting.
0 votes Thank Flag Link Sun Aug 8, 2010
HI Ldi,

One of the main reasons Dolphin beach is so affordable is the building is 30+ years old and the land it sits on is 100 year land lease. Royal mansions offer modest sizedl Ocean front Apartments that are 1 or 2 bedroom with the smallest around 500 sq ft and the largest around 1100 sq ft. Most of the units don't have a ocean veiw. They do offer on site rental management and allow for weekly rentals. I have another listing which is a 2000 sq ft, upscale funrnised townhome built in 07 with appproval for vacation rentals about 1 block from the beach. This year the owner has made $40,000+ from rentals.

Contact Ron Wallen
321-795-0405 Pruitt
0 votes Thank Flag Link Sun Aug 8, 2010
Thank you. I was looking for renting it out. I saw Dolphin Beach Condos which are under 100,000 but rent out 3 months at a time. Then I was looking at Royal Mansions in Cape Canaveral that rent out weekly. I also read somewhere that Ron Jon's was opening up a water park, which would bring more people to the area. How do you compare Cocoa Beach to Cape Canaveral..have never visited either.
0 votes Thank Flag Link Sun Aug 8, 2010
Dear Ldi, of Bergen County, NJ.,
Cocoa Beach is a very diverse place to invest in. From Condos to homes that are in short sale and bank owned. It is going to depend on what type of investments you are looking for, for the long term. In to days market there are are few quick buy and sell scenerios at this time. In some cases, the house on the property would be sold for just the land value because the home is so run down and old it is better to rebuild. This is because its cost to refurbish to the new building codes would be just as costly, and unless you replace from roof down, you will be hit hard on insurance premiums.
If you are looking to purchase for long term rentals and profit, unless there is a super deal on a condo, and you are able to pay cash, you will just about break even on rent , mortgage and HOA fees. They are not a good investment unless you are making them your pirme residence and then maybe renting them out seasonally.
If you would like further expert assistance from the largets Real Estate firm and Property Real Estate Management firm in Brevard County give me a shout.
my e-mail is peter.dolci@era.com and my cell is 321-480-2544
0 votes Thank Flag Link Sun Aug 8, 2010
If you outlook is greater then a few years you will be plesantly surprise at th ROI of your investment. In many cases you are ble to buy property at or well below replacement cost. Keep in mind Cocoa Beach and all of central Florida is playground to the world and world population continues to expand despite thecurrent economy.

Ron Wallen

Pruitt Real Estate
0 votes Thank Flag Link Sun Aug 8, 2010
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