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Investing in real estate at Lake Martin: How a vacation rental can work for you

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When you decide to invest in a vacation home to be used as a rental on Lake Martin, it can benefit you in more ways than one. In fact, we like to call it a double whammy! First and foremost, the home is yours. Yours to use when you see fit for your memories with friends and family. You get to block it off to use as a vacation home whenever you want. 

Secondly, a vacation rental allows you to earn an income and grow your funds when market values increase. As of today, Lake Martin condo supply is low. In fact, if you are thinking of selling, CALL US! We have a lengthy list of interested buyers already! Throughout our entire listing area, there are only three available waterfront condos currently on the market. 

Beyond being a smart investment, this type or property may also qualify you for a 1031 exchange with zero tax implications when selling one investment property to purchase another. Be sure to check with your local CPA or attorney for the ins and outs of tax law. 

Finally, buying a condo as an investment is perhaps the easiest and least time consuming type of property to manage as a landlord. Since typically the home owners association handles maintenance, you are left with fewer issues, work and concerns. And that equates to more time with your family, all while making money without lifting a finger. 

As of today, we only have one condo available:

90 Crowne Pointe, Unit 206 is THE investment opportunity of 2020! In fact, it is currently rented through April 20, 2021. The three-bedroom, 3-bathroom condo sits on big water and has sunset views. It is a walk in corner unit with wrap a around deck, new paint and carpet. You’ll enjoy the kitchen that opens to the great room. It has stainless appliances, granite countertops and tile flooring. This condo also comes with a huge storage room on the terrace level for all of your water toys. Ammennities include 2 swimming pools (one that’s zero entry!), bath houses, plenty of parking and a boat slip.

Below are current interest rates supplied by local lender for second home, based on the condo above, if you meet qualifications:

20% Down payment at 2.75%,  30 year or 2.25% for 15 year
10% Down Payment
Monthly fees $398.13  These include: exterior maintenance, boat slip,  pool maintenance (2), garbage, sewage and basic cable.
Current taxes on  90 Crowne Pointe Unit 206  $ 1494.6
Current Insurance ( per owner) $420.00. year
Mortgage Calculator
Purchase Price: $
Down Payment:  
Interest Rate: 2.75 %
Loan Term:  years
Monthly Payment:
$1,303
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Categories: Alabama Investment Lake Martin Lake Martin Alabama News Real Estate Selling Your Home

Tags: Alabama lake Condos Condos on Lake Martin homes for sale Lake Martin investment property Lake Martin Condo Lake Martin realtor real estate Lake Martin AL realtor Lake Martin selling your home

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