Recreation
This property is located in what is considered the relaxing part of town. Within just a mile of the complex there are many fine restaurants, night clubs, and recreational centers. However, if renters need more excitement they will have the ability to enjoy the many pleasures of Pensacola, Florida. The complex is only two miles from the bridge linking the island to the mainland and it is located within just six miles of the highly admired Pensacola. Within Pensacola there are a number of restaurants, clubs, movie theaters, and shopping.
Listed below are just a few of the restaurants located in Pensacola, FL:
(850) 433-6789
600 E Gregory St, Pensacola, FL
(850) 470-0003
600 S Barracks St, Ste 108, Pensacola, FL
(850) 476-5414
7137 N 9th Ave, Pensacola, FL
(850) 549-4444
1901 Cypress St, Pensacola, FL
(850) 494-2227 5555
N Davis Hwy, #I, Pensacola, FL
Other recreational activities include:
Jogging
Cycling
Windsurfing
Fishing (from piers or fishing boats)
Water skiing
Surfing
Tennis
Golf
Naval air museum
Property Specifications
This unit, located on the 4th floor, has 2 bedrooms and 2 ½ baths. The square footage of this unit is 1550, and it can sleep a maximum of eight people in its current configuration, not including the sleeper sofa which can be converted into a bed. All furniture and appliances are in good shape (see Figure 1.1). This unit also has a central air conditioning unit and a furnace that are both expected to last at least 10 more years.
Fig. 1.1 Fig 1.2
This building is 10 years old and in good repair. Since it was built in accordance with the latest and most up to date building codes and 10 feet above sea level the building is structurally sound and able to withstand up to category 4 hurricanes. This property has a beautiful balcony (see Fig. 1.2) overlooking the beach, as well as the heated swimming pool.
The Partnership
First Florida Beach Properties is offering this property as a limited partnership. Each investor must invest $50,000 to own 1/10th share of the property. Investors do not get to stay in the property rent free, but must rent just like everyone else. This is due to Florida laws concerning investment properties. Below you will find frequently asked questions and answers concerning the partnership.
What is a Limited Partnership?
- A limited partnership is a partnership in which an investor’s liability and gains are limited to the percentage of the investment put into the partnership. For example, if a partner had a 50% share in the partnership, then that partner would be responsible for 50% of all fees & repairs. Likewise, this partner would also reap the benefits of 50% of the profits.
How many investors are involved in this partnership?
- There will be a total of 10 investors. This opportunity is so promising, that even First Florida Beach Properties is investing in this property as one of the partners. That shows just how much we believe in this investment
I am a very busy person; will I have to be actively involved in this partnership?
- No. As a limited partner, you are not actively involved in the day to day operations.
Who manages the property?
- The management function is handled by the group or individual organizing the partnership.
Would it be better to keep my money in a money market account?
- No. with the current national average for interest rates on money market accounts at 3%, you would barley make any profitable returns. How? Inflation. Inflation is currently 2%. That means your accounts only produce a 1% return, with NO tax advantages. We must remember that inflation fluctuates, and may very well increase, as seen in the past, to above your money market accounts return. Additionally, the service charge for these accounts may further decrease your return.
Are pets allowed in the condo?
- Yes but there is a $100 deposit for any possible damages and a weight limit of 30lbs. The renter is liable for any damages incurred during their stay. The deposit will be fully refunded at the end of their stay if there are no damages.
Investment Calculations
Rental Income
*Given rents do not go up over the years.
Yearly Tax Savings
Appreciation and Tax Savings
Appreciation (20 years)
Financing Options
*Based on a 7% interest and payoff period of 10 years
Comparative Analysis
Time Share Condominium Developments:
The typical time-share on North-West Florida beaches costs approximately $20,000 to own for one week during prime periods. This does not include an annual upkeep charge which can change, just as condominium fees can change. It also does not offer any tax advantages nor is there an established market to sell pre-owned timed-shares.
Individual Beach House:
The typical 2 bedroom 2 ½ bath townhouse, condo, or beach house is priced between $165,000 -- $750,000, depending on location, size, and quality of construction. Those that are gulf-front, usually cost over $450,000 if they are top quality units. Cheaper units are not gulf-front and may be in less desirable developments. Additionally, individual homes are much more subject to vandalism and theft when they are vacant than condominiums.
Real Estate Developments on Golf Courses:
Residential lots on most golf developments begin at approximately $50,000 and go up to about $175,000. These figures are dependent upon the location and quality of the development in question.
Stock Markets
Stock Market Mutual Funds:
As seen below, the Stock market (Dow Jones) in particular is unpredictable and leaves its investors with no control of their investments. Recent economic down turns, as seen below, has caused drastic and historic losses in the financial markets and has demolished retirement plans across the country. Although the stock market can provide some return, the amount of return is unpredictable. In fact, a person can just as easily lose money in the market. Furthermore, the stock market does not provide a constant cash flow to the investor unless the investor sells a portion of the investment.
Testimonials
06/11/08
Positive Rating
Mark Williams , Columbia, TN
We had a very nice time in the condo. It is equipped with all the comforts of home and the view and proximity to the beach are unbeatable. I consider this condo a very nice value. The only problem we encountered was convincing the kids that we had to go back home. We hope to return in the future. Thanks Sue! Mark Williams Family Columbia, Tennessee
08/14/07
Positive Rating
Royster Family , Talladega, Alabama
It’s worth the money for sure! This place was top notch, clean, and the owners are great! We plan on being back again in 08 as we love Pensacola Beach. This is one of the best kept secrets on Ft. Pickens without a doubt. We had plenty of room and awesome views! Would recommend to anyone, anytime, anywhere.
07/20/07
Positive Rating
Brenda Albin , Hartford, KY
We just returned from our 2nd stay in this unit. We stayed in June 2006 and again in June 2007. I think the fact that we returned says everything. The accommodations were perfect. The guests have everything they need. This unit is perfect for a quiet, relaxing stay...no crowded beaches, condominium is not crowded...the perfect get-a-way to rest and relax!
10/10/06
Positive Rating
Karl and Sue Roy , St. Louis, MO
Our visit in July, 2006 was WONDERFUL! Helpful, friendly owners, beautiful accommodations, fantastic view, great beach access, nice pool, covered parking.... I could go on and on. We look forward to visiting again!
03/24/06
Positive Rating
The Schultz Family , Villa Park, Illinois
We were guests in the condo the first week of December 2005. This was our first family vacation and we picked the perfect place. The view was spectacular! Nothing compares to waking up to that beautiful ocean view every morning. This place felt like home. We had everything we needed including a washer and dryer which was great. This vacation created a closer family bond between us and we have some wonderful memories from our time spent here. We miss it very much and hope to visit again soon. Angie,Jeff,Chris,Alison & Alexander Schultz
