Anyone own a Condo near Doak?

[BraveSeminole10]

We’re thinking of buying a condo in one of the older developments near Doak in the next year or two. It would just be a 1 bdrm crash pad for football, baseball, basketball, and softball weekends whenever we or a close friend wants to come up. Maybe we’d put it on Airbnb some weekends that we’re not using if the complex allows that.

Anyone own in one of the complexes already or in the past and any advice? How was the experience?

 

[FisherWilcoxTaggart Survivor]

Have not owned one in Tally, but I currently own a couple of beach condominiums.....be very careful here.

Is the condo association solvent? Have you reviewed the financials? What is the general condition of the project? Are there any major repairs needed or planned? Think rebar, roofs, plumbing and parking lots, among other things. Everything seems fine and swell until you receive a whopping "capital assessment" demanding that you pay $____ by ______, and announcing that the property will be closed for comprehensive renovations for ___ months (i.e., no usage, no rental income, etc.). It can happen.

And with so much "new product" coming on-line in Tally, can you easily and profitably sell this "older development" thing? If you are smart, you will hire @misswebbsilverchief to walk you through the options.

 

[Dr. Nole]

We have thought about it but for us the #'s just didn't work.
Paying a ridiculous amount a night for a 2 night minimum at a hotel within walking distance to the stadium for games is our current system.

 

[PopsNole]

I was going to buy one when they were going to build those Railyard condos by Madison Social but they cancelled the project. Would have been nice.

 

[misswebbsilverchief]

Happy to chat about options.....helping people play monopoly in real life is my specialty: ) @BraveSeminole10

 

[Dr. Nole]

I was going to buy one when they were going to build those Railyard condos by Madison Social but they cancelled the project. Would have been nice.

Same here!

 

[RDCNoles]

Be the guy that RENTS the airbnb and leave your worries behind!

 

[FisherWilcoxTaggart Survivor]

We have thought about it but for us the #'s just didn't work.
Paying a ridiculous amount a night for a 2 night minimum at a hotel within walking distance to the stadium for games is our current system.

^^^^I chuckle at the people who spend $750,000 (or more) on a motor home to avoid those $399/night hotel rooms. To each his own, of course, but you better REALLY enjoy that motor home, and use it for more than 6-7 trips to Tally every year.

 

[FisherWilcoxTaggart Survivor]

Happy to chat about options.....helping people play monopoly in real life is my specialty: ) @BraveSeminole10

^^^^she can actually help you.

 

[Dr. Nole]

^^^^I chuckle at the people who spend $750,000 (or more) on a motor home to avoid those $399/night hotel rooms. To each his own, of course, but you better REALLY enjoy that motor home, and use it for more than 6-7 trips to Tally every year.

So true.
Kudos to those that can do it.

 

[PopsNole]

Same here!

I had a third floor one looking over the IM fields at Doak. They were going to bring chefs in for gamedays to grill food for everyone. Was so excited for that project. If I recall they said 1/2 the buyers backed out because they were going to be ready 2 months late. I'm pretty sure they realized they could make more money renting them to students. What could have been!

 

[HilltopperNole]

^^^^I chuckle at the people who spend $750,000 (or more) on a motor home to avoid those $399/night hotel rooms. To each his own, of course, but you better REALLY enjoy that motor home, and use it for more than 6-7 trips to Tally every year.

That’s our go to currently for games, except ours is $10,000 and not $750,000

 

[Dr. Nole]

If I had the money and it could be done...I'd call "so and so" motorhome rentals and have them deliver and set up a motorhome at the stadium booster lot for home games...drive to Tally Thursday night...enjoy the motorhome for the weekend...then drive home. They could then come and pick up their motorhome.

 

[Benchpress550]

^^^^I chuckle at the people who spend $750,000 (or more) on a motor home to avoid those $399/night hotel rooms. To each his own, of course, but you better REALLY enjoy that motor home, and use it for more than 6-7 trips to Tally every year.

Or you could spend eight months looking for a motor home that’s 15 years old less than 10,000 miles, and had a price tag of 500,000 when it’s was new under 30k….. did I forget to mention the sinking another 18 grand into it to get everything running right?

 

[BraveSeminole10]

We have thought about it but for us the #'s just didn't work.
Paying a ridiculous amount a night for a 2 night minimum at a hotel within walking distance to the stadium for games is our current system.

That is currently what we do as well. Realistically, if we do jump to the SEC, how much more could hotels go up? Lol

 

[BraveSeminole10]

Happy to chat about options.....helping people play monopoly in real life is my specialty: ) @BraveSeminole10

Could you shoot me an email with your contact info and maybe we can chat on Monday sometime? We’re leaving on Tuesday so if Monday is too busy than we can chat in early August when we’re back. Thanks.
Cruz.Goetze.em@gmail.com

 

[FisherWilcoxTaggart Survivor]

That’s our go to currently for games, except ours is $10,000 and not $750,000

Jed Clampett, is that you bro? 😀

 

[goldmom]

I have friends who own one of those 1BR Condos on Hayden Rd. Perfect size and you just go down the stairs and you’re in the stadium parking lot. They bought it during the recession out of foreclosure for a song. They loaned it to my daughter and I at no charge for a game for just the cleaning fee of $60. It’s been worth it for them since they’ve had three kids go to FSU.
Wish I’d found it first!

 

[misswebbsilverchief]

My parents owned one of those from 1988 onward until my mom finally sold it last year.

 

[HilltopperNole]

Jed Clampett, is that you bro? 😀

Our tailgate is the one with the flamingos and the pool table

big families make big tailgates 😂

 

[goldmom]

I’m going to predict a bit of a price slump in Tally condos. Mortgage rates will climb again after the Fed action today.
There are several condos in those downtown high rises on the market now that the Leg has acted to make any condo above four stories (I think) get safety inspections and requirements for maintenance that will lead to a dues increase or special assessments being levied.

 

[FisherWilcoxTaggart Survivor]

I’m going to predict a bit of a price slump in Tally condos. Mortgage rates will climb again after the Fed action today.
There are several condos in those downtown high rises on the market now that the Leg has acted to make any condo above four stories (I think) get safety inspections and requirements for maintenance that will lead to a dues increase or special assessments being levied.

Could be right, in Tallahassee. But in more populated places we still have a lot of money chasing a limited supply of product, and more Yankees pouring in every day. I think Florida’s residential real estate market — including condos — will generally stay strong (or at least stable) for the foreseeable future.

Asking @misswebbsilverchief for her expert insights.

 

[Benchpress550]

I’m going to predict a bit of a price slump in Tally condos. Mortgage rates will climb again after the Fed action today.
There are several condos in those downtown high rises on the market now that the Leg has acted to make any condo above four stories (I think) get safety inspections and requirements for maintenance that will lead to a dues increase or special assessments being levied.

Wake me up when the fire sale on building materials start so I can start searching foreclosures sales on the courthouse steps…

 

[goldmom]

Wake me up when the fire sale on building materials start so I can start searching foreclosures sales on the courthouse steps…

Lumber prices on a nationwide basis have leveled off. Housing starts have as well, although I do think Florida is not going to feel the effects of that for a while.

 

[misswebbsilverchief]

I actually agree with @goldmom that I would not purchase anything in a downtown Tally high rise. Too much drama with the structure, maintenance dues and upkeep like she said....However, I also agree with @FisherWilcoxTaggart Survivor that the housing market is not going to see any significant downturn.....the economy is going to suck more yes generally in the next couple of years....but in every market I work in (northern Virginia, the Carolinas and here in North FL) the demand remains VERY strong in the lower ends of the market, anything that is considered "affordable" just keeps flying.....and corporations are starting to buy up inventory, too and compete with first time home buyers who have no choice to sit on the sidelines and pay high rent (which I admit I also charge on my own props I hold) ...I think we will see a critical housing shortage in the next few years.