We had a great webinar event last night. If you happened to miss the event, you can view the presentation here: Email Info@CondoMetropolis.com for the cash-flow analysis for a new towhhome that has just been discounted to $69,900. The location is OUTSTANDING: Adjacent to Interstate-20, 15 miles to downtown Atlanta, 8 miles to Atlanta International Airport, close to medical facilities, shopping, and direct access to public transportation. The property has been newly finished and is currently [...]
THURSDAYS WEBINAR Turnkey Investment Properties from $49K!  Atlanta GA is Florida's neighbor and there are some great investment deals in this burgeoning state at the moment.  Click the image below to learn more and to register for this FREE, informative webinar with us.   Also, the Vista Cay Condo Deal in the last email has come downt to $105K. It can close as early as Feb 21st (no short sale hassles or bank foreclosure bidding). The seller is [...]
One of the advantages of a homeowner association is to keep the hood looking good by enforcing architectural and design standards. These appearance standards are designed to protect the HOA members' property values. The theory is that if all homes follow the same basic theme, the average home buyer will be willing to pay more. Non-HOA subdivisions have appearance standards too, but only a civil lawsuit can stop someone determined to violate them. Since most neighbors hate confrontation, [...]
After months of waiting, the Vue at Lake Eola Downtown Orlando is now FHA approved as of January 2011. What this means is that instead of needing 100% cash, government-backed loans and smaller down payments may be possible for qualified buyers. The only other downtown Orlando condo project that is currently FHA approved is 101 Eola Condominiums. Current pricing at the Vue condos ranges from about $229,000 for a one-bedroom unit to $569,000 for a three-bedroom unit. For more information on the[...]
Mediation is an effective way to resolve disputes. Florida Courts require the parties to a lawsuit to attempt to settle the dispute at mediation before the trial starts.  There are many benefits to mediation - it is private, the proceedings are confidential, if successful it reduces the costs to each side of the case and enables the parties to "think outside the box".  The mediator is a neutral third party (in Florida they must be licensed) that[...]
Question: Our board enacted a resolution stating that all new owners must live in their unit for one year before renting. Is this legal or must the bylaws be amended? Answer: The board does not have the authority to enact this kind of resolution since it negates basic property rights. Typically, only an appropriate vote (as defined by your governing documents which may be up to 100%) of the members may approve this kind of requirement. But if having rental units is undesirable for the majority[...]
FHA Extends Approval Procedures - New Mortgagee Letter Issued The Federal Housing Administration (FHA) implemented a new approval process for condominium projects and insurance requirements for mortgages on individual units in November, 2009. FHA also announced certain exceptions to its standard criteria. Please note the following: The November 2009 guidelines temporarily increased the number of permitted FHA insured loans in a particular project from 30% to 50%.  100% of[...]
We receive a number of reader inquiries on a weekly basis. In most cases a response to the inquiry is included in the comment field itself, after the relevant blog post. Here are a few of the inquiries received in the last week, with our responses: QUESTION: How can I learn if my townhouse is FHA certified? RESPONSE: Go to this website to look up your community: https://entp.hud.gov/idapp/html/condlook.cfm QUESTION: We are an 11 unit condominium. Must we send a 60 day first [...]
Vista Cay condos Orlando has some great vacation condominiums - here's a great 3-bedroom, 2-bathroom deal that's bank owned! These condos can be rented for both long and short term. Investment strategy This 3-bedroom, 2-bath vacation condo is situated in the center of the highest-profile resort area of Orlando, Florida, adjacent to the newly expanded Orange County Convention Center and famed International Drive (“I-Driveâ€). Due to its inclusion in Central [...]
While it is important. serving on the association's board is time consuming and can often become frustrating. You have a multitude of issues competing for your attention - whether its adopting the budget, monitoring performance and renewing service contracts, insurance renewals, supervision/hiring and retention of employees or collecting delinquent assessments. Board members are also faced with the task of enforcing rules and regulations. How many times have you heard the following as a board [...]