As a CPA and a finance executive, I was trained to look at net income, cash flow, return on investment (ROI), cap rate and other quantifiable measures when evaluating a potential investment in real estate.This is necessary but not necessarily fun. It is simply number crunching with very little emotion. The necessary and relevant questions are:
- What is the historical rental income?
- What are occupancy rates?
- What is the potential future rental income?
- What are the taxes and insurance, maintenance and HOA fees?
- What is the mortgage payment?
- Can the rental income from the property cover the operating expenses and mortgage payment?
- When the property is sold, how much will it have appreciated?
- How much gain will be realized?
- What are the tax implications?
- Is this a PRACTICAL investment?
Amidst all the number crunching, I looked forward to our annual escape to South Padre Island with our best friends. I always loved to come to the island, and I always hated to leave. Eventually my husband and I decided to purchase a condo and combine the place we enjoyed the most with a practical investment.
We made our “practical investment in fun”. In evaluating an investment from this different point of view, there is a whole new set of questions:
- Do you like the property?
- Can you picture yourself sitting on the balcony watching the Gulf, taking in the sunrise each morning…or watching the sunset over the bay each evening?
- Will you enjoy a walk on the beach within steps of our front door?
- Will you enjoy being able to jump in a car or on a plane without having to even carry on a bag because your owner’s closet has all you need?
- Will you treasure special moments with family and friends when they stay at your “Beach Home”?
- How much will you gain by being able to escape the usual more often to go to a place that you love?
- Is this a FUN investment?
The answers to these questions are always easy.
So, after 30 years in the big city business world, I landed (intentionally) on South Padre Island with a real estate license. Now it is my job to help others make practical investments in fun. The same property can meet both needs. Whichever approach you use to evaluate your investment, there are properties that fit. And I stand ready to help you evaluate your South Padre Island real estate investment from either point of view….or both!
Looking for a practical investment in fun? Call Eleana Jones.
When visiting South Padre Island don’t forget to spend some time in Port Isabel. Located right across the causeway from South Padre Island, this historic coastal community was once the Port and gateway to South Texas. You can still see reminders of the areas historic past in the local museums and the Port Isabel Lighthouse.
The Treasures of the Gulf Museum showcases artifacts and tells the story of the shipwrecks in the area. The Champion Building Museum tells of the rich historical significance of this part of Texas. Best of all, is the Port Isabel Lighthouse. This remains the only lighthouse in Texas that allows visitors to climb to the top. It is also the smallest state park in Texas.
This area is known as Lighthouse Square. It is easy to pass a day around the square shopping at the boutiques, strolling the Faro Mercado, having an ice cream, enjoying local dining and relaxing in the seaside atmosphere.
Port Isabel is also home to the Black Dragon Pirate Ship, which is a great adventure for young and old. Nearby is the fishing pier, Pirates Landing Restaurant, dolphin and fishing cruises.
The Sea Life Center is open for visitors to see local sea life and even pet some in their touch tanks. This non-profit organization provides a great place to learn about the varied species found in our Laguna Madre Bay and Gulf of Mexico.
Other fascinating Port Isabel destinations include their unique cemetery and the intriguing Port Isabel Yacht Club. This restored restaurant and hotel was built during Prohibition and has some wild historic tales to tell!
No South Padre vacation is complete without a visit to this charming seaside town. Plan to spend a day across the bridge too.
With spring well under way and summer fast approaching many people are focused on making their vacation plans and securing this summer’s accommodations. Gone are the days when people drive into town and stop at hotels or motels until they find a place to rent in South Padre Island that had vacancies. Now we can make our reservations from the comfort of our own living room and practically in the blink of an eye. But don’t delay! This is our busiest season and our luxury vacation rentals get booked fast!
You’ll find our rentals to be exclusive South Padre Island condos, townhomes and spacious single family homes. You can trust us to only provide homes that meet the strictest standards for luxury, quality and value. We have a large selection of South Padre Island Beachside Rentals, Bayside Rentals (both interior and waterfront), and properties located beachfront on South Padre Island.
Continue reading Now is the Time to Rent in South Padre Island
With this posting, the first on our new Padre Getaways Blog, we’re announcing the launch of our newly designed web site that is both stunningly beautiful as well as super easy to navigate.
You’re going to really like what you see here. We’ve made it easier than ever to search for the type of property you want with the amenities that matter most to you – and then you can book it online! Instantly!
We’d like to invite you to peruse our new site then come back often to stay in touch with our Padre Getaways Blog and the getaway specials we have on our vacation rentals. We hope to see you soon!