When the Lighthouse condominium was released for pre sale, there were over 1,000 people vying for 253 units. Needless to say, there were a lot of disappointed investors that day. Shortly after the release, the fortunate few that reserved units began to list them for sale to make a quick profit. This was a great opportunity to pick up a condo with plenty of time left in the construction phase, hold on to it for a while and sell it before closing. This is referred to as "flipping" and was an extremely popular idea at the time.
When the Lighthouse was finished, price per square foot was around $500. Currently, the price per square foot is under $300 which is a seven year low. With proper exposure and a little effort, cash flowing is not that
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The Alabama / Florida Gulf Coast is home to a variety of properties. We'll discuss some of the better investment condos in this article. The majority of the best pure investment condos are in Alabama; Perdido Key is more of a second home market with many of the condos being rent restricted. We'll consider the primary criteria for an "investment condo" as cost versus annual rental income generated.