Boat condos for sale

[FastTimmy]

Incase anyone is interested boat condos are on the market.
This is a ground floor deal that I called on and just want to pass it on. Here is the deal as I know it. There is common ground shower and restrooms. From the plans I saw they are nice enough that you would look forward to using after a good boat wipe down.
Location: Dover/Front drive and London bridge road. Right by fiber glass reformations
Realtor: Dave Eaton office # 866.486.4941
Project status: Slabs being poured
Completion time: September 04Â’
Qty Size Price
Untits available: 3 13x20 12,350.00
2 13x25 15,437.50
6 13x30 18,525.00
68 13x40 24,700.00
3 13x50 30,875.00
2 13x60 37,050.00
3 13x65 40,137.50
5 13x80 49,400.00
All doors are 12' wide and 14' tall.
There is a 30.00 a month association fee per unit.
That covers the water and power for the bathrooms and the showers.
As of today there is only two units sold beside the two I put an earnest money deposit on yesterday (Yeh Hew!!). The bank that is funding the development is also offering loans for the units. If you go through them there is no closing cost, appraisals ect. just sales tax. They require a 20 percent down and your choice of a 7yr, 10yr or a amortized 10yr with a balloon payment. On the amortized 10yr with 20 percent down your payment is 181.49 plus association dues 30.00. The balloon payment due at 10yrs is about 2,600.00. There rate are between 7.00 and 7.25 depending on duration and method of payment. DonÂ’t forget property tax witch I guess at about 10.00 to 20.00 bucks a month. That is figuring on a one percent property tax. Anyone know the Havasu property tax rate?

[Mandelon]

What an interesting idea. I'm thinking I'll put an Air conditioner and a hammock in there and just move in!!!

[MRS FLYIN VEE]

I think we need one of those.. Unless of course I can talk the mr into getting another house with a bigger garage. LOL!!;)

[simple]

Location & Pictures please.

[MRS FLYIN VEE]

location is Dover /front drive and london bridge road..
no pictures because there is nothing there yet.;)

[Bre]

:D
Andy wants to buy some. We still have some more talking to do;)

[FastTimmy]

Originally posted by GLD
Location & Pictures please.
The location is posted, basicaly right across from windsor beach at havasu. About one block from cambell boats.
I have no pictures. I just stoped and looked and wrote down the phone number, called up and wala a new pad for the boat...
Timmy

[Mandelon]

Voila.

[Mrs. Restless22]

Originally posted by Mandelon
What an interesting idea. I'm thinking I'll put an Air conditioner and a hammock in there and just move in!!!
Better make sure its got a hottub :p :D :D

[RiverToysJas]

89 total units @ 30/month = $2670/month to cover "bathrooms & showers". :confused: Over $32,000/year for Cleaning, TP, Towels, Water, & Power. Yeah, that's reasonable. :rolleyes:
RTJas :D

[Mandelon]

That would include fire and liability insurance, saving for parking lot repaving and re-roofing, repainting the exteriors, landscaping etc. Maybe property tax too.......

[RiverToysJas]

On top of the 2.3 million they are taking in for the out-right sales. :rolleyes:
That's the business to be in right there!!!
RTJas :D

[RiverToysJas]

Originally posted by Mandelon
That would include fire and liability insurance,...
Would it cover fire/liability insurance? You would not have to get your own Fire Insurance, like you do with an apartment or condo?
RTJas :D

[NorCal Gameshow]

Originally posted by RiverToysJas
89 total units @ 30/month = $2670/month to cover "bathrooms & showers". :confused: Over $32,000/year for Cleaning, TP, Towels, Water, & Power. Yeah, that's reasonable. :rolleyes:
RTJas :D
that's what I was thinking....i'm betting the 68 13x40 should only be 6 ...
can ya build a bedroom and kitchen there to use when you visit your boat...if you can't it's kinda like a shower at a public storage :confused:

[Kilrtoy]

i guess the wife and I are stupid,
WHAT THE HELL IS THIS:confused:

[NorCal Gameshow]

Originally posted by Kilrtoy
i guess the wife and I are stupid,
WHAT THE HELL IS THIS:confused:
the way i read it is:
your buying a storage unit instead of renting it....
there is a bathroom and shower onsight...

[Bre]

It is just like every other storage place in Havasu except you are buying it...and you can rent it out...ect. There is a bathroom somewhere there for everyone to use and a shower. Our storage we have right now has a bathroom on site...but not a shower. I don't think we would use the shower anyways even if it did. Bathroom comes in handy sometimes though. :p

[Kilrtoy]

That is a rip off, if that is the case

[RiverToysJas]

Originally posted by Kilrtoy
That is a rip off, if that is the case
I agree, considering you can buy a lot, and build a steel building for those prices.
RTJas :D

[Kilrtoy]

HELL YEAH
6200 down
297 plus 30 HOA fee 327 a month for 7 years.
PLEASE.
Sounds like a scammmmmmmmmmmmmmmmmm

[PlyaPlya22]

Originally posted by Kilrtoy
HELL YEAH
6200 down
297 plus 30 HOA fee 327 a month for 7 years.
PLEASE.
Sounds like a scammmmmmmmmmmmmmmmmm
What the hell is going on in here:D

[Bre]

Originally posted by PlyaPlya22
What the hell is going on in here:D
I'm being scammed:eek: :D

[Ivan Dan]

Originally posted by RiverToysJas
I agree, considering you can buy a lot, and build a steel building for those prices.
RTJas :D
You can't buy a lot in Havasu nowadays for under $50,000-$60,000 minimum. On top of that, from what I understand the city of Lake Havasu will not allow you to build a garage/storage facility on a residential lot without a home on it.

[spectratoad]

Originally posted by Kilrtoy
i guess the wife and I are stupid,
WHAT THE HELL IS THIS:confused:
Sounds like it is the same as an airplane hangar except for your boat. Sounds a little expensive.:frown:

[framer1]

The dues are the same I pay at Canterbury Estates. Those seems cheap but for storage they seem high.

[FastTimmy]

Originally posted by Kilrtoy
HELL YEAH
6200 down
297 plus 30 HOA fee 327 a month for 7 years.
PLEASE.
Sounds like a scammmmmmmmmmmmmmmmmm
How is that?
13x40 to rent which I might add you can't find anyware to rent is anyware from 155.00 to 185.00 per month.
5,000.00 down
181.00+30.00+20.00 morgage+dues+tax impounds=230.00 a month and you own it forever. in ten years you have free storage for ever. Think big picture.
Let me put it this way. for a 25,000.00 down you buy 5 units right now. Rent them out for 200.00 a month which you will get due to location, demand and quality of the facility. You put out 150.00 extra bucks a month out of your pocket into a property you own and in ten years about the time you might be thinking about retiring you own them and have a positve income of 1000.00 a month on top of the fact they will have a value hopfuly equal to or greater than the purchase price of 123,500.00 for the five units.. So you end up with equity and cash flow in the big picture and someone else gives it to you by renting. It is the same way ever other boat storage unit that is rented does it. We the renters are making the morgage payment and when that is gone the owner retires with cash flow and equity.
Timmy

[RP1]

Originally posted by RiverToysJas
I agree, considering you can buy a lot, and build a steel building for those prices.
RTJas :D
Where in Mexoco? Cause you sure the hell can't by a lot for that in Havasu.

[KingCole]

They are building these in Needles too. 14' x 40' for 26k. I keep my boat at Active storage for $95.00. Maybe I'm wrong but I see this as a 25 year break even deal. I guess the units will appreciate some and my rent will go up but I'm not so sure it's a deal I would make.

[FastTimmy]

In havasu there is nothing available and NO one pays 95.00 bucks for a 13x40 in havasu. I have been watching storage costs for 2 years there. I have freinds that pay as little as 145.00 per month and have paid for years and not even had a boat but did not want to loose there spot one block over from where these units are being built. I would say that for needles 26k is way high but for havazoo it is right on track.

[RP1]

Originally posted by KingCole
They are building these in Needles too. 14' x 40' for 26k. I keep my boat at Active storage for $95.00. Maybe I'm wrong but I see this as a 25 year break even deal. I guess the units will appreciate some and my rent will go up but I'm not so sure it's a deal I would make.
This is true, unless you buy them to rent. As Fast Timmy has indicated, with rental fees so high, you will almost break even each month and surely make money in the future.

[Bre]

I know storage is as much as $200 a month for a 35 foot or 40 foot unit. We have a 35 foot storage unit and are paying $165. It goes up by $10 every year.
I really don't think it's a bad deal... just curious as to how the contract is set up. Like what if they decide to tear it down in the future and put something else there? What if they sell their land...will they give you back your money? Just stuff like that scares me.:eek:

[ACCEPTENCE]

Originally posted by RiverToysJas
I agree, considering you can buy a lot, and build a steel building for those prices.
RTJas :D
I have to agree with the above statement:D
I'm not meaning to bash the developers here or piss anybody off but...
Storage deals like this are what seperate the Leaders from the Followers. And often these deals are exactly what a person needs, no more, no less.
You can get a 13 x 60 storage for $37,050.00 or...
On the other hand you can buy a lot and build a building which will give you considerably more storage for your toys. Not to mention the growing equity in the property or at anytime build yourself a nice vacation home as well.
If you can afford a storage unit purchase, you can afford the alternative as well, it's not much more.
It's a matter of doing some reasearch, shopping and having a long term concept.
Just some general things to think about;)
http://www.***boat.com/image_center/data/506/1415Building2.jpg
http://www.***boat.com/image_center/data/506/1415Building1.jpg
...and now I'm thinkin about building another one:rolleyes: go figure.
oh & this too: If I've offended you, get over it!!!

[Bre]

Oh I am sooo offended.
Bre>> a follower not a leader:rolleyes: :D ;)

[ACCEPTENCE]

So maybe the "Leader - Follower" coment was a little to harsh.
But Dang... if people would stop and consider all the options N opportunities available to them they may be better off long term.
...or maybe not:(

[Bre]

LOL. Its cool.... we aren't gonna buy one anyways.... I wanna get everything paid off before we start putting money into anything like that;) We have property in Big River with nothing on it... if we need storage for free we can build something on it. ;)

[FastTimmy]

Originally posted by Bre
just curious as to how the contract is set up. Like what if they decide to tear it down in the future and put something else there? What if they sell their land...will they give you back your money? Just stuff like that scares me.:eek:
You buy the rights to the ground the slab and the shed. Thats why I refered to them a condo's. they are just like a condo. You own it. they can't sell your land, they can't tear it down. there is a property association that every onwner is a part of that vote on issues as they come up. Like it's time to repaint do we keep the same color or change to a new one and put it to a vote.
No bank would ever lone money on a unsecure property. if you default they want a security.
As to a big shed on a piece of land it was said here earlier that you can't put a storage unit a residintial lot with out house. look up how mucha comercial lot is worth in havasu right now. Last I heard it is 2.3 times more than comercial property.

[KingCole]

Acceptence, Cool looking shed! Might I be so bold as to ask what a "Leader" would have to pay for a building like that?

[Bre]

Originally posted by FastTimmy
You buy the rights to the ground the slab and the shed. Thats why I refered to them a condo's. they are just like a condo. You own it. they can't sell your land, they can't tear it down. there is a property association that every onwner is a part of that vote on issues as they come up. Like it's time to repaint do we keep the same color or change to a new one and put it to a vote.
No bank would ever lone money on a unsecure property. if you default they want a security.
As to a big shed on a piece of land it was said here earlier that you can't put a storage unit a residintial lot with out house. look up how mucha comercial lot is worth in havasu right now. Last I heard it is 2.3 times more than comercial property.
Alright... cool then. I wasn't sure how that all worked.:p

[Dan Lorenze]

I can just see it now.. "Honey, let's get a new, bigger boat".. Oh, and a Boat condo too.... :eek:
I just don't make enough money after buying a new house...
If I had an extra 30 grand I think I would put it toward a nice doublewide somewhere quiet on the river and build my own boat condo on the side of it, maybe a spot for two boats and rent one spot out.

[RiverToysJas]

Originally posted by RP1
Where in Mexoco? Cause you sure the hell can't by a lot for that in Havasu.
In Fort Mohave lots are still as low as $4K. ;) Near Topok they aren't much more. Havasu City is over priced IMO.
RTJas :D

[Todd969]

I keep my boat in Havasu in a nice unit for $85 a month, it's 13x28
It's worth it's weight in the price of gas. Beats pulling the boat up Cajon every other weekend for 6 months.

[TIBURON]

I bought in to this deal last year. I was paying $200 for a fifty footer and got tired of giving my money away. I got two units across the street from the Sheriffs station off the 95 for $20k each.
I pay ~$240/ year in association dues on each.
rented one out to a friend of mine $200/ month = $2400/yr
minus the $240 (assoc) = $2,160 / year cash flow
The one unit I'm renting out leaves me better than 10% on my money which wasn't so bad when I bought them.
Each unit comes with lights and electricity for keeping batteries charged or whatever you want, and waterhose hookups outside the units. The Bathroom are nice and clean too, and they do come in handy.(Trust me):D
It makes me happy to hear that there going for $25-$30k now.
Yippi!!!:

[FastTimmy]

The fifty footers are 30,875.00 and going up at the end of the month 4.00 bucks a square foot on all sizes. I hope I see the same gains on my units in the future..
Timmy

[Kilrtoy]

Originally posted by Todd969
I keep my boat in Havasu in a nice unit for $85 a month, it's 13x28
It's worth it's weight in the price of gas. Beats pulling the boat up Cajon every other weekend for 6 months.
Why on gods green earth would you go that way.
up the hill down the hill
plus that 2 lane barSTALL lane is awful
Timmy I just dont see putting that much money into storage, a house yes.
property values are leveling off and may even start down ward, you are buying in at the peak of the market....
If it works for you, Im happy for you....

[Todd969]

Why on gods green earth would you go that way?
Answer:
Come on Kilr, It's way too easy to go down the 210 to the 15 than out the 10. Besides, when you aren't pulling a boat the drive is nice.

[Kilrtoy]

Originally posted by Todd969
Why on gods green earth would you go that way?
Answer:
Come on Kilr, It's way too easy to go down the 210 to the 15 than out the 10. Besides, when you aren't pulling a boat the drive is nice.
i did that drive for years with and with out going to havasu and laughlin.
I hate it,
The 210 to the 10 to rice is way better and less traffic. Plus i leave early in the morning....

[RP1]

Originally posted by RiverToysJas
In Fort Mohave lots are still as low as $4K. ;) Near Topok they aren't much more. Havasu City is over priced IMO.
RTJas :D
As I said... not Havasu. And yes, I agree Havasu has become very overprice for a piece of property in the desert.

[RP1]

Originally posted by Kilrtoy
i did that drive for years with and with out going to havasu and laughlin.
I hate it,
The 210 to the 10 to rice is way better and less traffic. Plus i leave early in the morning....
You might be right about the market, but then again people said it was peaked a year ago... not true.

[Kilrtoy]

mandelon just posted a thread about the market.
i dont think it is going to crash, but home prices are leveling and maybe even going down and with interest on the rise,
WHO CAN AFFORD to buy now.....

[Propchecker]

Looks like if you paid cash for the most popular size and rented it for $150 a month for say 11 months out of a year (1 month vacancy allowance) your cash on cash return would be around 6.5%. Not too bad, but with that location rents would surely be fairly premium and it would be a good thing to buy if you would use it personally. It certainly could appreciate long term due to the location. I'm no real estate mogul but there's definitly better rates of return out there. Just mho

[FastTimmy]

Originally posted by Kilrtoy
property values are leveling off and may even start down ward, you are buying in at the peak of the market....
If it works for you, Im happy for you....
I figure that it is worth the gamble for and extra 40.00 bucks a month. In the long run one day they will be paid off and worth something. I agree on the values I would never buy one of the 400,000. over priced homes in havasu. the econnmy can't suport that kind of increase. I feel bad for the people buying the 7,8 and 9 hundred thousand homes. They will lose there but in the end.

[ACCEPTENCE]

Originally posted by KingCole
Acceptence, Cool looking shed! Might I be so bold as to ask what a "Leader" would have to pay for a building like that?
You may be so bold...
That exact building you see in the picture cost me less then $14,000.00 delivered to Az.
That's complete as you see it:)
It did take a little string pulling but there it is:D
There are deals all over the internet for steel buildings and usually better then advertised.
It's just doin the homework.

[Propchecker]

Originally posted by ACCEPTENCE
You may be so bold...
That exact building you see in the picture cost me less then $14,000.00 delivered to Az.
That's complete as you see it:)
It did take a little string pulling but there it is:D
There are deals all over the internet for steel buildings and usually better then advertised.
It's just doin the homework. Does the 14k include the slab and electrical? Did you erect it yourself? It looks great regardless:cool:

[FastTimmy]

When I build a house it will be 1500 square feet and the garage will be 3000 square feet. That is the only way to do it....

[DrinkinSpeed]

Originally posted by FastTimmy
You buy the rights to the ground the slab and the shed. Thats why I refered to them a condo's. they are just like a condo. You own it. they can't sell your land, they can't tear it down. there is a property association that every onwner is a part of that vote on issues as they come up. Like it's time to repaint do we keep the same color or change to a new one and put it to a vote.
No bank would ever lone money on a unsecure property. if you default they want a security.
As to a big shed on a piece of land it was said here earlier that you can't put a storage unit a residintial lot with out house. look up how mucha comercial lot is worth in havasu right now. Last I heard it is 2.3 times more than comercial property.
Check again before you buy for details on your rights to the ground, slab and shed. It's my understanding that your rights and what you are purchasing is the area (air space) within the shed. That is why the 20% down and most banks won't go near the financing because the principle behind the whole deal is so new to the market. Don't get me wrong. If you buy a couple use one of them in the summer yourself and rent the rest out and even if they sit vacant you can still run the whole operation as a business and tax it as a tax loss. There is very rarely a loss with real estate if you get creative. It's all perfectly legal. I'm thinking about buying myself.:D

[ACCEPTENCE]

Originally posted by Propchecker
Does the 14k include the slab and electrical? Did you erect it yourself? It looks great regardless:cool:
That cost included contracting out having it unloaded, stood up & assembled and turn key finished.
I did with the help of some real good buddies the slab, electrical and plumbing in house.
Not a bad shake, not bad at all.

[FastTimmy]

Originally posted by DrinkinSpeed
Check again before you buy for details on your rights to the ground, slab and shed. It's my understanding that your rights and what you are purchasing is the area (air space) within the shed. That is why the 20% down and most banks won't go near the financing because the principle behind the whole deal is so new to the market. Don't get me wrong. If you buy a couple use one of them in the summer yourself and rent the rest out and even if they sit vacant you can still run the whole operation as a business and tax it as a tax loss. There is very rarely a loss with real estate if you get creative. It's all perfectly legal. I'm thinking about buying myself.:D
Makes perfect sense!

[Kilrtoy]

So whats the deal, are these up and running yet

[DrinkinSpeed]

The boat condo's aren't up and running yet. At the time I put my deposit down, my Agreement to Purchase shows an estimated completion date of Oct 27. Last time I checked on them about half of them had been framed out. I'll drive by today and give an update. I do know however the purchase price has risen since first posted. The first 30 units where sold at the prices originally posted. The second set of 30 were being sold at a higher price and another price increase was to be in effect for the remaining 32. All were based on a price per square foot but I don't have the figures in front of me. Mines going up for summer rental if anyone is interested. I'm using it for my boat in the winter.