Thinking of buying rental cabins on a lake...need opinions!!

[remlinger]

Something else to consider. Check with the city or township office to see what the min. width of lake frontage and buildable property is. Try to purchase enough so if you ever wanted you could split the property and sell as two seperate lots. I know a lot of the areas require a min. of 50 feet of lot width. I've been to many zone board of appeals meeting trying to get approval for our clients to be allow to build on smaller lots than what is approved by the ordinance.

 

[Needafunboat]

Another good point remlinger! It currently has just a tad over 100' of frontage. Based on the other lots, I'd guess the min. is 50' as you say. So that's another consideration.

The latest conversation was basically that the owners weren't sure of what they wanted to do but said they'd figure it out. So we're letting it sit for a while. In the past 3 weeks, we all know that's been going on in Detroit so I would ideally like to sit on this thing for a year or 2 and see what it looks like then.

About a year ago, the US car market was pushing 17M vehicles produced in the US per year. My company now predicts 11M!! Aside from the obvious direct impact on the big 3, the trickle down is going to be huge for every supplier. Then factor in the next level of impact to retail businesses, schools, real estate (hard to image that getting worse, but it will...). Everything is going to eventually downsize if they can't diversify.

So we're in wait mode for now and actually planning our weekends for next year! Which leads me to my next post.... (I'll just start a new thread).