TAK Posted July 25, 2006 Share Posted July 25, 2006 I like Galveston. I want to buy a place in Galveston, so I will be more likely to visit Galveston more often - like weeks at a time, since I work from home. I can't afford/risk cash flow (or cat 4 hurricane) to buy beachfront at this time, because I'm going to slowly fix it up to be a second place... (or a primary place, if it works out right).What areas should I look at, and what areas should I avoid?I like the Victorians, and I'm not overly concerned about the neighbors look like, as long as they keep their place decent and keep their hands to themselves...i'd want a 3 or 4 br place around 2,000 or so sq ft...yes, i know how to look on HAR or galvestonrealestate to find a property, what i'm asking for is recommendations on areas to buy into and have a nice island place...thanks... Link to comment Share on other sites More sharing options...
lwood Posted July 25, 2006 Share Posted July 25, 2006 I like Galveston. I want to buy a place in Galveston, so I will be more likely to visit Galveston more often - like weeks at a time, since I work from home. I can't afford/risk cash flow (or cat 4 hurricane) to buy beachfront at this time, because I'm going to slowly fix it up to be a second place... (or a primary place, if it works out right).What areas should I look at, and what areas should I avoid?I like the Victorians, and I'm not overly concerned about the neighbors look like, as long as they keep their place decent and keep their hands to themselves...i'd want a 3 or 4 br place around 2,000 or so sq ft...yes, i know how to look on HAR or galvestonrealestate to find a property, what i'm asking for is recommendations on areas to buy into and have a nice island place...thanks...What is your budget? Link to comment Share on other sites More sharing options...
TAK Posted July 25, 2006 Author Share Posted July 25, 2006 What is your budget?cheap. LOL.really, I'm not sure... i see houses under $100k on har, and then i see $300k+... i'm closer $100k than $300k, for sure... single income with our first kid on the way... my primary residence is under $100k... i'm expecting the 'value' of the galveston home to come from the fixup and location... i'd rather take something that's $100k and put $30k - $50k in it to make it nice, over time, than to spend $300k for it now... this is a 'project' and 'hobby' that should turn into a decent investment 10 years from now... Link to comment Share on other sites More sharing options...
MidtownCoog Posted July 25, 2006 Share Posted July 25, 2006 For $100K I'd just buy a canal lot in Sea Isle or Jamica Beach and sit on it. Link to comment Share on other sites More sharing options...
TheNiche Posted July 25, 2006 Share Posted July 25, 2006 cheap. LOL.I think that the Galveston historical society arranges for the sale of old 19th century homes in need of some big time TLC, and the prices are sometimes pretty good too. The only downside is that you've got to restore rather than rennovate. That can be costly, even if the cost is spread out over a fairly long time.Otherwise, just be aware that even the Galvestonian officials are known to comment that all the good deals have been taken. Very strange for any city to discourage investment like that... Link to comment Share on other sites More sharing options...
TJones Posted July 25, 2006 Share Posted July 25, 2006 For $100K I'd just buy a canal lot in Sea Isle or Jamica Beach and sit on it. But, make sure you buy on the beach side, try to avoid buying north of 18 mile rd. Coog's idea is a good one though. I just had a friend of mine who was sitting on a piece of property in Gulf Shores Ala. He was fixing to close for 4 times the what he had bought the property for, and then the day before he was to close the state changed the laws on how high a resort or hotel could build, it went from a 3 story restriction to a 13 story restriction, and VIOLA ! The deal was off and they renegotiated for roughly 20 times what he paid for the same 3 acres. LUCKY S.O.B. ! Link to comment Share on other sites More sharing options...
TAK Posted July 25, 2006 Author Share Posted July 25, 2006 a lot sounds like a good investment, but i also want a place to stay... i could sleep on the lot... in a tent... but my wife could not... i'd have to look into my financing options for a vacant lot. i don't have $100k cash (or line of credit). Link to comment Share on other sites More sharing options...
MidtownCoog Posted July 25, 2006 Share Posted July 25, 2006 Canal lots in J.B. are going for 70ish, and there are only a few left.Land lots average 20-40K some with canal or bay views. Link to comment Share on other sites More sharing options...
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