St. Simons Island Vacation Home - Golden Isles Paradise!
$2,000,000
target home price
$333,333
cost per share
$2,979 / mo
estimated costs
$3,333 / mo
monthly income
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CASH AT CLOSING PER SHARE
|
|
Down Payment
$66,667
|
|
Closing Cost
$20,000
|
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Reserve Fund Deposit
$10,000
|
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Total Cash at Closing
$96,667
|
Details
Join our exclusive co-ownership group and make your dream of owning a vacation home in the Golden Isles a reality! Picture waking up to breathtaking sunrises over pristine beaches. Experience the serenity of coastal living as you stroll along powdery sands, collecting seashells and listening to the soothing melody of the waves. Our vision is to create a luxurious vacation home somewhere in St. Simons Island, Sea Island, Jekyll Island, or Little St. Simons Island where we can indulge in the finest comforts and amenities.
As a co-owner, you'll have a treasured key to your personal haven. Our stunning retreat will seamlessly blend exquisite architecture with the natural beauty of the Golden Isles. Sip your morning coffee on the veranda, host unforgettable gatherings in our spacious living areas, and unwind by the infinity pool, where the shimmering waters merge with the sky.
Join a close-knit community of like-minded souls who share your passion for life's greatest pleasures. Together, we'll create cherished memories and celebrate milestones. Our journey is about more than just owning a vacation home; it's a quest to unlock the magic of the Golden Isles. Immerse yourself in outdoor adventures such as deep-sea fishing, kayaking, and exploring the captivating ecosystems of nearby barrier islands. Dive into the rich tapestry of history, culture, and culinary delights that make the Golden Isles unique.
With a shared investment of only $333,000 per owner and 8 weeks of personal usage per year, you can afford to make your dream a tangible reality. Embrace the freedom of co-ownership, where financial responsibilities are shared without compromising our vision's quality.
Don't miss out on this opportunity! Contact us today to become an integral part of our extraordinary adventure. Craft a legacy that will echo through the sands of time in the Golden Isles. Welcome to a place where dreams come true!
House Usage
- 6 shares total
- 8 weeks a year per share
About the Organizer
Plum CoOwnership along with Georgia Usry, our PlumCertified Agent in the Golden Isles, is currently serving as the Organizer for this group.
Amenities
- Dock
- Fire place
- Game room
- Hot tub
- Pool
- Porch
- Waterfront
House Rules
- Pets allowed
- No firearms allowed
- No short term renting
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Calculated Costs per Share
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CASH AT CLOSING PER SHARE
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|
Down Payment
$66,667
|
|
Closing Cost
$20,000
|
|
Reserve Fund Deposit
$10,000
|
|
Total Cash at Closing
$96,667
|
This is an estimate of the amount of cash needed when closing on the purchase of a property financed with a 30 year Mortgage at 8.0% interest rate.
Plum’s estimate includes 20% of the value of the house as a down payment, 6% of the value of the house for closing costs (including Plum’s Group Success Fee) and 3% of the value of the house for the initial reserve fund.
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ESTIMATED MONTHLY EXPENSES PER SHARE
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Mortgage Payment
$1,957
|
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Insurance/Taxes
$361
|
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Repairs
$278
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Maintenance
$278
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Utilities
$68
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Cleaning
$38
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Total Expenses
$2,979
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ESTIMATED MONTHLY INCOME PER SHARE
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Monthly Income
$3,333
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Total Monthly Income
$3,333
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A good threshold for rental property investment is the 1% Rule (source). It states that you should only invest in rental property if you are reasonably confident that the property can rent for 1% of the sale price per month.
We’ve included that assumption here. It is critical that the group validate pricing, rental history, and future rental projections of any specific property before proceeding with a purchase. You can explore rental incomes of any property with this free estimation tool at Rabbu.com.