Investors purchasing distressed foreclosure condos and short sales in the Orlando area are usually from out of state - or even the country, which usually precludes them from managing the property themselves. Most simply opt to use an Orlando Property Management company. However, locals might be tempted to go the do-it-yourself route - not a bad idea necessarily if you have just one unit, so long as you know what you're doing: So long as you can handle how to background & credit check a [...]
A reserve study is a homeowner association’s essential long range planning tool. It charts a schedule for the board to follow for major repairs and replacements (paint, roofing, etc.) and forecasts a budget for each event so the board can set aside money (reserves) each year so adequate funds will be available when the various events come due. It’s an amazing tool that takes a lot of guess work out of the board’s job. Even though a reserve study makes funding[...]
The Orlando Business Journal reports that Orlando is one of five Florida cities named as best markets in which to invest in rental property. This, according to a quarterly ranking of 100 U.S. markets. Orlando came in at No. 4, Fort Myers No. 5, Fort Lauderdale No. 8 and Tampa No. 9. Not surprising when Orlando is also the No.1 spot this year to celebrate New Year's Eve. "So long as the sun keeps shining and that Mouse keeps singing, Orlando property will remain a viable investment," said [...]
UPDATE: 1/9/12: First 10 now SOLD OUT. Call 407-290-3408 to get on backup list and be notified of further releases. UPDATE 12/27/11:  Going fast - only 3 townhomes remain: #1543, 1545 and 1531... $89,900... Season's Greetings - Here are two great ways to close out your Orlando real estate investment year! Deal #1 - As New Orlando Town-Homes -- under $100K! Just Released. ·  Town homes a few miles west of Walt Disney World; ·  Nice neighborhood and Good schools;[...]
Remember last newsletter when I said that Orlando was efÂfectively underwater? Well, analysts have one-upped me in a humongous way, boldly stating that half of homes backed by a mortgage are effectively underwater. By their train of thought, homeowners who owe 85% or more of their home’s value are effectively underwater because they lack the 6% realÂtor commission to sell their place and a 10% down payment on whatever new home they seek. So those homeowners (about [...]
Question: The HOA manager told me that my swimming suit was not appropriate and that I should wear something that would cover more. I am Brazilian and I was wearing a bikini that is smaller than the others. But there's no HOA rule that says that Brazilian bikinis are forbidden. The guide only states "proper swimming attire." Answer: “Proper swimming attire†means appropriate to the majority of people that use the pool. In this case, it sounds like the majority are families and/or [...]
Two bus loads of Canadians invaded MetroWest in search of cash condo deals that most locals just can't afford. Thanks to the hospitality of the Madison COA management team, they were allowed to run amok around the condominium while they learned about what it takes to pick up a foreclosed condo and other distressed real estate in the Orlando area. Team Condo Metropolis met the group to head up the morning's tour with Channel 9's Josh Benson. "We wanted to show them that we [...]
"According to the news, real estate is still going to drop by 10% so I'm going to wait." I hear that a lot. And those folk are losing out big time right now - if it's a condo they're after. Because the truth is, if you want to buy an Orlando condo, you're already too late for the best deals. Orlando condos hit bottom a long time ago - in 2010 in fact. So if you're planning on waiting, you're just going to pay more with every month that passes. Remember, all real estate is [...]
You thought that real estate investment advice was one of the many services that Realtors offered, right? Wrong. That's the realm of licensed Federal Securities agents. Because when real estate agents start giving investment advice and those investment strategies don't work out, guess what... the law suits start to fly. Vista Cay condos near International Drive are some of the nicer condo hotel type investment options currently available in Orlando. But as real estate professionals we [...]
MetroWest Realty is covering a story this week that ought to be of concern to those looking to purchase at condo conversion projects like MetroWest's The Element where the majority of the inventory is being held by the developer or a bank - or Receiver. In a very rare move, The Element is reverting back to apartments... officially, meaning that they're not just renting out the empty units until they can sell them again as condos when the market picks up, they're actually going to disolve the[...]