In GVP I may be able to purchase a corner unit , 1061 sf corner unit east view and south view updated,

Asked by Sabrina Johnson, 33141 Sat Feb 16, 2008

2 parking spaces for very low 200rds. Unit although marble floors granite ktichen has some mold is gorgeous. Would this be a good investment>

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Sabrina John…, Home Buyer, 33141
Mon Feb 18, 2008
that would be great, yes the mold does scare me! Also, building does not seem to have flood insurance..
0 votes
Sabrina John…, Home Buyer, 33141
Sun Feb 17, 2008
I would buy it to live in for the next 2 to 3 years. Units in this building were sold in 2003 for more than this and some hopefulls are still listiing similar units for over 400K. I love the unit but can't believe how prices are coming down in the building!
0 votes
Bill Eckler, Agent, Venice, FL
Sun Feb 17, 2008
Sabrina/John,

As matt has pointed out "Investment property" is a broad term. It's important to see the whole picture and have a plan that includes you "Investment Property" from the beginning........

Will you focus on seasonal or annual rentals- We like seasonal rentals because, in the right location a 4 month seasonal rental will nearly net as much as an annual rental. This will allow you to check on its condition periodically as well as open it up for your personal use.

If you are considering a rental investment, more important than the price, is whether or not the general location has a large number of annual visitors that are looking for 1, 2, 3, or 4 month rentals. Typically these locations are within a close proximity of the beach, convenient to shopping, easy to get around in, offer a feeling of security, and offer recreational, social, & cultural experiences.

As a means of comparison we have a brand new 2/2 with a den, first floor condo, located 2 miles from the beach in Venice. Currrently priced at $199,000 and meets all of the above criteria.

Hope this helps....
The "Eckler Team"
Century 21 Almar & Associates
Venice, Fl 34285
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Sat Feb 16, 2008
It could be... I'd say better that you like the unit for your own use more than look at it as an investment... What would the rental income be? Less taxes, maintenance, etc.
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