What You Should Know About Renovating a Kissimmee Vacation Home

Some people just love the idea of getting an older home or a “fixer upper”. They love the idea that they can purchase a property for much less than market value put some hard work  and a little money into it and after they have an nearly new home built from their own specific criteria that is worth more than they paid for it (in most cases). Whether you chose to keep the Kissimmee home as your own getaway retreat, rent out for an annual return or sell for immediate profit this project usually works out to be a good idea. However renovating a home is a not a hands off job and will take money, planning and some of your own sweat and tears to be completed and to be profitable.

First things first do the math. Figure out how much you are willing to pay for the Kissimmee property itself. Do this by adding up the total for the needed renovations.  When doing this part always include the professional advice from a home inspector if the house needs significant structural improvements, many real estate experts recommend avoiding it altogether. That’s because major repairs such as plumbing and electrical system overhauls, foundation upgrades, and extensive roof and wall work — are usually “invisible” and hardly ever raise the value of the house enough to offset the cost of the renovation.  Make sure to include in the total for the renovations costs for labor, supplies and a little extra for any unexpected extras or unforeseen problems. Next, subtract that from the home’s likely market value after renovation based on comparable real estate prices in the neighborhood. The total is a good assumption as to whether the house is priced right for your project at hand.

Secondly take care to pick the projects that you chose. Extensive projects or large scale foundation/structural work like the others listed above often go unseen and our unlikely to raise the value of your house much. Instead choose projects such as paint touchups, drywall repairs, floor refinishing, which generally cost much less than what they return in market value. New lighting fixtures, doors, window shutters, and siding, as well as updated kitchens and bathrooms, are also lucrative improvements.

Thirdly make sure that you have the time needed to do the renovations or if having someone else do them then the time needed to supervise the jobs properly. The most cost effective is to tackle as many as the projects needed yourself. Get the kids involved; ask friends or family that may specialize in one of the areas to help or offer suggestions and advice. When needed do your research to reliable competitively priced professional to do the job for you but take the time to supervise this from beginning until completion.

So before you fall head over heels in love with a “fixer upper” or the idea of turning an old home into your dream Kissimmee vacation home ask yourself these very important questions, how much will I spend, is the amount of money needed for the necessary renovations available and do I have the time needed to see the project through to competition in a reasonable amount of time. If the answer is yes then take the leap. Buy that old house or that fixer upper and go for it.

We hope to earn the opportunity of helping you achieve your investment property goals this year in 2012. For a free, no obligation investment property consultation with our Director of Sales- Lisa Arcia,  please contact us directly at 866-422-6191 and if you have enjoyed this article please consider subscribing to our blog and stay updated on future information. 

How To Save $3,000 or More Instantly When Buying Kissimmee Real Estate

As you begin to do your research on buying and investing in Kissimmee real estate, one area that you will want to understand and be prepared for is the closing costs associated with obtaining a property. In 2012 Florida ranked fourth in the nation for pricey closing costs with costs averaging between 2-3% of the purchase price.  In Florida, like elsewhere, most of your closing costs are incurred in connection with obtaining a mortgage; however, even if you are not obtaining a mortgage, you can expect the following closing costs.

• Survey: If you are purchasing a single family home, you will want to make sure exactly what the boundaries are to your property and make sure that there are no unusual easements or encroachments affecting your property. Not required on most condominiums. $300 – $400
• Title Insurance: $5.75 per $1000 until $100,000, then $5.00 per $1000 thereafter.
• Hazard and Flood Insurance: Obviously, you want to protect your investment from fire or storm.
• Closing Fee: Charged by the closing agent for closing on the property. $325 – $600.
• Real Property Taxes and Homeowners Association Fees: These items need to be prorated at closing depending upon the time of year.
• Title Search: Charged by Title Insurance Underwriter for searching the title on the property. $75.00-$125.00.
• Home Inspection: You want a licensed inspection company to check out the roof structure and appliances. $300.00 – $400.
• Termite Inspection: Always recommended on single family residences. $45.00- $55.00.
• Condominium Association Application: Required by some Associations to approve you as a buyer. $100.00-$200.00.

 

If you are financing this same home and using a lender you can add in even more fees associated with closing costs such as lender fees, appraisal fees and credit reports. There is really no way around this because these all are needed to close a home.  However there are some great options that will help you to save money and to help keep your out of pocket expenses at time of close at a minimum.

Fly & Buy Rebates- The first option is our $3000 Buy and Fly rebate. It’s a buyer incentive that we offer to our clients that Purchase in one of our VIP communities such as Champions Gate, Paradise Palms, and Veranda Palms.  This is given to the buyer by us as a cash rebate at time of close to be used towards closing costs, HOA fees or any way the buyer would like to use this.

New Construction-  Currently Kissimmee real estate builders are very competitive with the resale market. With demand high and inventory at a record low, new homes are being built at prices comparable if not lower than most of the resales within other well known communities. Buying with a builder has many great incentives which include but are not limited to money towards closing cost. Some builders will even assist with HOA fees and membership fees to help offset some of the out pockets expenses associated with purchasing a property.

We hope to earn the opportunity of helping you achieve your investment property goals this year in 2012. For a free, no obligation investment property consultation with our Director of Sales- Lisa Arcia,  please contact us directly at 866-422-6191 and if you have enjoyed this article please consider subscribing to our blog and stay updated on future information. 

Through the Eyes of a Windsor Hills Vacation Home Buyer

This is a guest post by Rick Albert, a successful Windsor Hills vacation home owner. Rick Albert purchased his vacation from The Flamingo Group last year and is doing extremely well with it. Here he shares about his experience buying a vacation rental home through the eyes of the buyers. If you are interested renting Rick’s villa for your next trip to Orlando you can contact him directly here: Rick’s Windsor Hills Villa

My wife and I try to remain financially conservative.  We both work full time and earn a comfortable living.  We don’t live an extravagant lifestyle or drive fancy cars, but we do enjoy vacations.  It’s our gift to us for hard work and being forced to suffer through our miserable winters.  With three kids, we found that our vacations were becoming quite an expense.

During a family vacation to Disney, we had the opportunity to rent a villa in Windsor Hills.  We were immediately impressed with the community and the Kissimmee area.  After watching television shows such as House Hunters, Property Virgins and Hawaii Life, my natural curiosity had me asking: “How are these villas priced and what’s involved with maintaining a property in this community?”  After a week in the resort, my curiosity was piqued and I was enamored with the area.  Who wouldn’t want to own property two miles from the happiest place on earth?

Search All Homes For Sale in Windsor Hills Here

Upon returning home, I immediately began researching the answers.  We considered that owning our own vacation home could be a venture that we could actually afford and make work for us.  We could own a vacation home, receive rental income to offset our costs and stay when we want and as long as we want.  The prospect offered flexibility by not obligating us to one vacation destination and could keep our vacation costs reasonable.  It also offered us the ability to invest in real estate and reap the tax advantages of owning a second home.

After researching the Kissimmee area, we confirmed that Windsor Hills was the community that we were most interested in and over the next few months we watched several real estate listing sites for new properties of interest.  Within a few months, we found a newly listed property that showed great potential.  Knowing that the process moves fairly quickly in Florida, we contacted the listing agent to inquire about the details.    With confidence building, we took the most important step.  We hired quality real estate agents with experience in the short term rental market to represent us during the purchase process.  This began our relationship with Lisa and Sara with The Flamingo Group.  Sara took the time to view the property and send additional photos and video of the home.  She also connected us several other valuable contacts with information about the Central Florida short term rental market.

Knowing the real estate market and the value of the property, our agent suggested that we come in with a strong offer.  Her instinct was right as we soon learned that there were other (lower) offers for this property.  Within a few days, the owner counter-offered with a number that we were comfortable with and we were soon under contract.

Windsor Hills Resort Condos For Sale

From that point we thought it was smooth sailing.  We couldn’t have been more wrong!  The seller suddenly became unavailable and unresponsive.  Addendums went incomplete, emails went unanswered and our initial contract expired.  The seller made and broke promise after promise.  We had become extremely distraught over the matter because we had now had an emotional investment in the property.  Again Sara came through for us.  With multiple daily phone calls, texts and email, she was able to talk us off the ledge and press the seller into action.  She got the deal done!

With a final contract in place, our next step was to see the property in person, get an appraisal and have a home inspection completed.  Based on the owner’s rental schedule, I had a two day window to fly in, view the home, meet the property manager, have the property appraised and get the home inspection completed.  Again, Sara was instrumental in getting everything in place to maximize my time and the owner was gracious enough to allow me to stay in the villa while I was in town.  This was a great opportunity as I was able to meet with the home inspector and the property manager to get a candid assessment of the home and current amenities.  I was also able to meet with the cleaner and get a third opinion of the home and another assessment of what needed to be improved.  Prior to departure, I was able to complete an inventory, photograph the villa and meet with the Windsor Hills HOA Director.  I covered a lot of ground in two days but gleaned a ton of important information.

Windsor Hills Resort Villas For Sale

As I mentioned earlier, the real estate market in Florida moves very quickly.  The next 30 days were a flurry of documents, signatures, faxes and phone calls.  We provided and supplied every document just shy of dental records and our printer/scanner/fax combo was smoking!  Sara and Lisa then handed us off to the title company to complete the process.  The day prior to closing, we received a 101 page document requiring 2 signatures per page and 28 of those pages required notarization.  We were able to ply our bank branch notary with baked goods, get the documents notarized and then deliver the documents to Fedex the same day for overnight shipping.  After all of the phone calls, text messages, emails, document packets and fuss, the following day we received a one line email from the title company that simply stated: “You’re closed!”  Two simple words brought an end to 45 days of anxiety but began an exciting new chapter in our lives.

Read Other Vacation Home Client Testimonials 

Since the closing, we have spent quite a bit of time and money appointing the villa for our guests and we take great pride in our vacation home.  We were able to transform the villa into a fun and relaxing place to vacation and have received lots of positive feedback from our guests.  We have also had the pleasure of staying in our own vacation home.  That experience is far more fulfilling than any prior vacation that we have ever taken.  We enjoy and appreciate every moment we share in our villa and eagerly look forward to our next stay.

Overall, our vacation home purchase has been a very rewarding experience and we are looking forward to enjoying sunny Central Florida for many years to come.

This is a guest post by Rick Albert, a successful Windsor Hills vacation home owner. Rick Albert purchased his vacation from The Flamingo Group last year and is doing extremely well with it. Here he shares about his experience buying a vacation rental home through the eyes of the buyers. If you are interested renting Rick’s villa for your next trip to Orlando you can contact him directly here: Rick’s Windsor Hills Villa or 716-863-8213. 

Thinking of Buying That Perfect Disney Area Vacation Home?

You’ve done it, you’ve made the decision to buy a vacation home, you’ve chosen the city you want and maybe even hired a Realtor to represent you. Now what? There are many articles explaining how to buy a vacation home, but today we’ll guide you through what it will take to go through the process when it comes to your side of the transaction.  The next steps in your journey can involve a few scenarios:

• Will you be visiting Orlando to personally see what you are purchasing?
• Where will you be staying and how will you get around?
• Will you hire a realtor to handle your transaction for you?
• How involved do you plan on being in the entire process?
• Will you be renting out the home while it’s not in use?
• Will you hire a management company to take care of everything?Watch Our Short Video Tip: Closing From Afar

 

Travel

Depending on where you are coming from, cost of your travel will vary. For a family of 3, coming to Orlando from England, expect to pay $2500-3500 for your round trip airfare. Are you our Canadian neighbors? Expect your airfare to run you $1-2000 round trip. New York, expect $800-1500. If you’re the adventurous type, then pack everyone into the car, and enjoy a long road trip!

Accommodations

Choosing to stay in a hotel or a Disney area vacation home is an important decision to make. You’re already interested in purchasing a vacation home near Disney, and the bestway to utilize the most out of your trip, is to stay in a particular home that you may like to purchase. While this is not necessary, and you might not be too excited about that particular home you’re staying in, it will allow you to get a general feel of the type of vacation home you want as well as the area you would plan on purchasing in. As an informed consumer, you know that an Orlando vacation home will always be a better value all around than staying in a hotel, which of course is why you’ve made the decision to purchase one in the first place. Depending on the type of home you choose to stay in, and the time of year you fly in ( holidays will always be more expensive, as well as being less convenient to view homes and get more time out of your realtor), you can expect to pay $75-200 a night, with weeklong stays always averaging less per night. Hotel stays will range $100-300 a night, but will not afford you the privacy, convenience, space, that renting a home will.  It is recommended to stay at least 3-4 days, to give you enough time to see as many potential homes as possible, but many people choose to book their stays for a week, and take their time.

Watch Our Short Video Tip: Vacation Rental Community Amenities

Transportation

Generally assume about $35 to $50 dollars a day. But it all depends on the length of the trip, what type of car you rent and where you plan on driving to. Holidays will normally be the most expensive with weekends coming in more expensive then weekdays. Cities will always run you more to rent a car.

Watch Our Short Video Tip: Distance To Disney

All Said and Done

If you hire an informed and experienced vacation home Realtor to represent you, everything is planned out in advance and all homes are scheduled for viewing while here, you should not have to make more than one trip.  All closings are done remotely, so all you will need is access to a printer, email and scanner and/or fax, as well as a notary. It is still your choice on whether you want to a part of furnishing or decorating the house, but your best bet is to go with a management company that has more experience, as well as time, to do everything properly.  They will make your home ready for you, and anyone that will be renting out, if you plan on going that route.

You’ve done it! You came, you sought, and you conquered. You are a proud owner of a vacation home, and have joined the ranks of many to call Orlando their second home!

We hope to earn the opportunity of helping you achieve your investment property goals this year in 2012. For a free, no obligation investment property consultation with our Director of Sales- Lisa Arcia,  please contact us directly at 866-422-6191 and if you have enjoyed this article please consider subscribing to our blog and stay updated on future information. 

Vacation Homes in Orlando – Is 2013 a Good Time To Buy?

This is a guest post by Gabriel Knight, a financial blogger and writer. He is associated with several financial and real estate communities. He writes various kinds of article on real estate, mortgage and finance topics for several financial and real estate websites.

You may be aiming to own a second home in the coastal state of Florida. The current local real estate market in the city of Orlando and that of Central Florida has never been more conducive for fresh investment of such a magnitude. As per the latest market data, housing prices in these places are hovering somewhere around 30-50%. However, you may be a bit skeptic whether or not is it an apt time to take the plunge. Alternatively, some people who already have a vacation rental property in Orlando are seriously contemplating to sell them off in order to relieve themselves of the white elephant they thought would give handsome return on investments due to their pressing personal financial situations. So, before making the final decision, you should consider some essential factors related to home buying in these areas.

Home Buying in Orlando – Factors to Consider

Here are some indispensable factors that should help you to make a judicious home purchase decision in the state of Florida:

• You must consult a local real estate brokerage firm regarding the expenses and advantages of buying a vacation property in this state. (You Can Use Our Free Expense and Analyzer Worksheet Here)
• Research has shown that existing vacation home owners who have been successful with their investments are said to be in favor of spending more good time with their near and dear ones. They cared more for their family rather than for the house they’ve purchased. So, you might share that mindset as well.  (Download Our Free PDF, 101 Things To Do With Your Kids In Orlando Besides Theme Parks)
• At the moment, Orlando is considered to be one of the best real estate hotspots to invest in, considering the historic low mortgage rates as well as housing prices. (Search Hundreds of Vacation Homes in Orlando For Sale Here)

What If You Want to Sell an Existing Vacation Home?

Take for instance, you already own a piece of real estate in Florida and you want to sell that off citing it as a financial yoke, given the perpetual economic uncertainty in your local economy. If you can work with a real estate agent who can ensure a steady rental income, then hopefully your view towards the vacation property would change for the good. As a result, you will think twice before selling it off.  However, if your financial hardship is too severe to be managed by your own self, then it is advisable for you to consult a real estate attorney at the earliest before you start missing the monthly payment deadlines.

A competent attorney may help you get your loan modified in to more suitable repayment terms. He may also assist you in short selling your property, besides weighing all the other debt relief alternatives that might be best for you. However, if there is a good amount of equity left in your home, then refinancing the mortgage would be a better option. For that reason, you should get in touch with your lender and sit for a mortgage questions and answers session with him.

What If You Want To Own a Vacation Home in Orlando?

Conversely, if you are thinking of buying a vacation home in Orlando, property rates in this area are comparatively lower than other places in the country however, inventory has been clearing up due to supply and demand. Because of this, most homes on the market, especially in vacation rental approved communities, are experiencing bidding wars and multiple offers driving up the prices higher than the actual list price. Though homes are selling higher than list price they are still relatively lower than the prices of homes in most other areas of the U.S.

Still, you may be a bit skeptic about investing in a real estate market that has so many short-sales or foreclosures listed. The reason for such a trend in Orlando is that those existing homeowners did not evaluate their mortgage affordability before buying the homes during the past housing boom of 2004 and 2006. As a result, they found it overwhelming to make the monthly mortgage payments on time.

In addition, there was little or no regulation on the mortgage lending practices that were prevalent in those days, while housing prices were soaring uncontrollably. This led people to owe more mortgage than their property is worth of. However, the trend has reversed as of now and buying an Orlando vacation home right now may give you a good return on investment. Even in this situation, you should evaluate your present financial health and long term goals before buying any such property so as not to over commit to something you may not be able to afford in the future. A vacation home purchase in Orlando should be both an emotional and financial decision, not just one or the other. (For a free no obligation Orlando Vacation Home consultation with our Director of Sales, Lisa Arcia, please contact us today)

This is a guest post by Gabriel Knight, a financial blogger and writer. He is associated with several financial and real estate communities. He writes various kinds of article on real estate, mortgage and finance topics for several financial and real estate websites.

6 Reasons Not To Buy Vacation Home Rentals in Orlando

At any given time, there are scores of vacation home rentals in Orlando available for purchase as it’s a tourist hotspot. You may find yourself asking, “is the investment worth it?” There are important factors to keep in mind, such as your budget, your time, and the risks included. Make sure you are investing your hard-earned money the right way and for the right reasons: here are six reasons why you shouldn’t buy a vacation home rental in Orlando.

1) You Are Looking For a Cheap Cash Flow Property

Real estate prices in Orlando have increased greatly over the years. Houses that were once sold for $100,000 are now sold upwards of $200,000, and prices continue to rise each year. Investing in this kind of property will bring you a profit if you sell the home in the future. Renting your vacation home to the many people seeking out a qualityhome to enjoy their time in Orlando can bring a steady income, but it will not always be the case. You will be able to recoup a lot of the expenses that go into the home, but to be able to generate a steady cash flow will require much more work than just hiring a property manager and handing over the keys.  If you’re not prepared to put a little work into booking your vacation rental home in Orlando than you  might just want to consider a long term rental property instead, it’s less hands on.

Read Also: 6 Secrets of Successful Windsor Hills Resort Owners and How They Got There 

2) You Don’t Have Time To Enjoy a Vacation in Orlando

Buying a house that you can’t enjoy is not really worth buying, is it? When you’re buying a vacation home in Orlando, you are tapping into a market that will bring much more value to your purchase. Even if you don’t have time to enjoy your own vacation home as often as you’d like, other people who have the time will pay you to stay there for a couple of weeks. When you do have the time for a get-away, you can be sure to enjoy a nice and leisurely vacation at the destination of your choosing, utilizing the income you have earned from renting out your vacation home. If you don’t think you’ll ever have the time to enjoy it than a long term rental investment may be a better route for you to take.

Read Also: Five Things To Consider Before Buying a Kissimmee Condo 

3) You Feel Safer Investing In Other Avenues

Investing your money in other avenues, such as stocks, bonds, or even precious metals may seem like a better option than investing it on vacation home rentals in Orlando. But think about it this way– you can’t enjoy gold like you would enjoy an inviting, modern vacation home that you are free to use at your disposal. You are also more than likely to have a greater return from the house than from your precious metals and the stock market. Consider the potential income and enjoyment that will come from your vacation home for years to come. If the prospect seems intimidating, fear not, as there are more than enough exceptionally competent property managers available to help you throughout the whole process. The trick is knowing the right questions to ask in advance.

Read Also: 10 Questions You MUST Ask Before Hiring Any Orlando Property Management Company-Part 1 

4) You Don’t Mind Giving the IRS a Little More of Your Income

For those of us who don’t happen to be accountants, we don’t always recognize ways to save more money on our taxes. A vacation home offers a break from the daily hustle of life, but it can also offer a break from taxes. A great benefit of a vacation home is the ability to write-off part of the earned income in any given year, as well as deducting some of the expenses incurred in owning the home. The IRS allows you to rent out your vacation home for up to 14 days a year without paying any taxes on the income. The key to maximizing the benefits is to keep the yearly use of your vacation home to less than 14 days a year. Your accountant can help you sort through the rules and guide you in the best route to take. This of course is not an option for those looking to generate an income on  their property. If you are booking your vacation home 35+ weeks per year your income should far exceed what you are paying out in taxes.

Read Also: Vital Steps You Must Take To Prepare Your Orlando Vacation Home For Bookings

5) You Don’t Want to Save Money on Your Next Orlando Vacation

People don’t go on vacations so they can save money – they go on vacations so they can enjoy spending the money they’ve earned throughout the year. Vacations are supposed to be relaxing and fun, not a burden. Opting to stay at your own home during your trip to Orlando will allot more funds for recreation. Renting a vacation house can sometimes burn more than half of your vacation budget. The vacation home rentals in Orlando give joy to both the owners and occupiers. Just think about it– paying for a limited stay in one house is a lot more expensive than actually owning property that will make your vacation relaxing and enjoyable and create long term wealth for you over the years.

Read Also: What You Need To Know About Buying a Booked Vacation Home in Orlando

6) You May Not Want To Have a Vacation Home When You’re Retired

You don’t need any more burdens, especially when you are enjoying that retirement that you have spent so many years earning. Collecting rent payments and finding occupants may seem cumbersome when in your golden years, when your main goal in life is to release yourself from all the stresses you have accumulated over the years. If you decide to rent the house, you will have a steady income that you can use in many different ways. On the other hand, when you are retired, you can always choose to live in that house. In addition to offering a plethora of shopping, restaurants, and fun activities, Orlando’s temperate climate is warm nearly year-round. Orlando is one of the most ideal places to live and that is evident by how many people are choosing to call this fine city their home.

Nobody likes extra worries, as the undeniable fact of life is that we will always seek the path of least resistance. Consider your future and ponder what will be the best path for you. Take advantage of a knowledgeable Realtor that will guide you as you consider buying a vacation home in Orlando.

We hope to earn the opportunity of helping you achieve your investment property goals this year in 2012. For a free, no obligation investment property consultation with our Director of Sales- Lisa Arcia,  please contact us directly at 866-422-6191 and if you have enjoyed this article please consider subscribing to our blog and stay updated on future information. 

3 Ways Your Property Manager Could Be Keeping Your Vacation Home From Selling

When it comes time to sell your Orlando vacation home the last thing you want to deal with are those little hiccups that might prevent your property from selling or complicate the transaction. One of the biggest problems we often run into when selling a fully booked and turnkey vacation home is property managers who are not cooperative. Because they are the ones controlling most of the access and information about your home, they often have the power to make or break your sale. You can hire the most established, wonderful and highly recommended Realtor in the great town of Orlando but if your property manager isn’t on board with the sale than you can count on it sitting on the market a very long time. Over the years we have seemed to narrow down some of the reasons they might fight against this and what you can do about it in advance so you don’t run into issue:

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1. They are Worried They Will Be Losing the Home to a Different Management Company
It’s natural for a property manager to become insecure and concerned about losing your home from their portfolio and naturally so. They have bookings already in place that they will have to move around if your home is removed from their program after it closes. The best thing you can do is to ensure your property manager understands that you and your Realtor will provide an excellent recommendation to the future buyers and that your Realtor makes sure that the home is advertised as a turnkey property and all bookings stay as long as the management company stays. What sometimes happens is, in a desperate attempt to convince the current buyers to stay with them, the property managers will over promise and exaggerate the homes future bookings and past performance. This only misleads the buyer and causes problems later on during the transaction.

Top Five Most Common Complaints From Kissimmee Vacation Home Renters That Could Cost You Money 

2. They Are Offended You Didn’t Use Them To Sell Your Home
Most property managers also have a real estate license and are able to sell your home. If they don’t they are usually affiliated with someone who is. This doesn’t mean that it is the best choice for you to use. Because they are property managers and their main business is property management, not real estate, they usually do not have the facilities, experience or infrastructure in place to effectively market and sell your home. Any agent can slap your home on the MLS but a true vacation home Realtor will go 10 steps above that with a proven sales system that they have used time and again. Property managers should manage property and Realtors should sell property. To do both is to become half as effective and that is not fair to the customer, which is you. Sometimes, the property manager becomes non-communicative with the Realtor in hopes to prevent their efforts of selling the homes. It sounds crazy and unprofessional but we run into these road blocks all of the time! Be sure your property manager give 100% access to any and all marketing materials that your agent needs to place inside your home in order to help facilitate the sale. Sometimes they will not allow Realtors to advertise that the home is for sale both inside and outside of the home. Your home loses tons of exposure from this.

15 Quick Fix Tips For Getting More Bookings on Your Orlando Vacation Home

3. They Are Afraid of Being Exposed
This is the rough part that your Realtor faces when trying to sell your property. They cannot lie or exaggerate how many bookings are in place to try and attract potential buyers however, the only way they can know how much income is being brought in from that home or its past performance is by relying on what your property manager says. Your Realtor is going to have to provide documents that prove this income is actually coming in and has in the past. Without the booking history and future booking documents for your home most buyers, who want something turnkey, will walk away as your home has no credibility at that point. By not providing those documents your property manager can kill your sale during the due diligence period. If your property manager will not provide these documents to your Realtor or you that you than it might be time to question whether they really have as many bookings in place as they are claiming to. It’s also a great marketing tool for your agent to be able to quote how much income your home produced the past two years.

As much as it sounds like property managers are the bad guy, it’s not the case with all of them. There are hundreds of property management companies in the  Disney area and about a handful of them provide a high level of service, are professional and most important honest. Our job is to seek those companies out and align ourselves and our clients with the most honest and ethical companies. Not the companies who want to pay us to refer them homes. The Flamingo Group never accepts referral fees from any management company for sending them business as we feel it’s a conflict of interest. We’re also experienced in dealing with difficult property management companies and are prepared to do what it takes to get your home sold regardless of the road blocks that may pop up ahead. To find out more about how we can help sell your vacation home and our one of a kind marketing system, please contact us today for a no obligation consultation.

The Orlando Vacation Home Real Estate Trends of 2011- What To Expect in 2012

So 2012 is finally here to greet us all with some cold weather but that’s okay because the sun is still shining here in Orlando. If you’re like me, you’ve probably mapped out quite a few goals for the 2012 year that you’d like to try and accomplish if the world doesn’t end this December <joking>. . . I’m sure for many of you, owning a vacation home is probably somewhere on that list. Lets take a look at some of the 2011 trends we noticed and help use them to guide our investment plans for 2012.

Trend #1: Lots of Cash Flowing into Florida
In 2011 we noticed many foreign investors starting to move their money into US bank accounts and many domestic investors liquidating their non-performing assets and gearing up to move their money into Florida real estate. According to Jani Lowdell at Centerstate Bank in Davenport, of those foreign nationals who opened a US bank account last year, all purchased a vacation home within 90 days. Those who did jump into the market in 2011 got amazing deals but many held out in hopes the prices would drop in 2012. There have been so many rumors flying around that banks were going to release a ton of inventory and flood the market this year with homes causing prices to drop again.

What To Expect in 2012
I’m not an economist however, based on my hyper local knowledge of THIS real estate niche in Orlando (vacation rentals) I’m about 98% sure that prices are not going to drop at all in 2012, unless there is some terrible natural disaster which nobody can predict, except of course the Mayans (I couldn’t resist that one). Despite rumors, most professionals do not believe the banks are going to allow another real estate collapse by flooding the market with all of their inventory at once. We might see maybe a 5% increase in inventory this year but that’s not enough to cause prices to drop. Especially when the demand for vacation homes has never been higher.

Search Kissimmee Vacation Home Foreclosures

Trend #2: Tourists Staying in Vacation Homes vs. Hotels Has Increased
The amount of people traveling to Orlando this year was up about 20% according to Stephen Walker, owner of Signature Villas Orlando. A vacation rental management company in Kissimmee. He said they had their best year yet and they were so busy they needed to find more homes to accommodate all of the people wanting to book their homes. The really sweet part about that- they had more direct retail bookings this year than any other year.

What to Expect in 2012
Expect the tourism industry to continue to boom, mostly driven by countries like Brazil who are currently experience a booming economy and seem to have taken a specific liking to the Orlando area. Also expect to see more families that would normally be staying in a hotel start staying in a vacation home due to the growing awareness. We haven’t been able to nail down any specific reason for the rise in vacation home awareness in 2011 however due to the viral power of Facebook and the internet we only expect it to double in 2012. If you haven’t yet jumped in on vacation rental investment, 2012 might be your year to supply the growing demand.

Tips for Orlando Vacation Home Renting 

Trend #3: Tenanted and Turkey Properties Were a Hot Number This Year
Tenanted properties were always a hot seller for long term rental investors because they offer immediate income and very little, if any, hassle. The same for booked short term rentals. Many investors were willing to pay a premium this year to not have to deal with all of this hassle versus having to start from scratch, renovate, secure a tenant and place into management. At the end of the day, when you add up what your saving on a vacant property you usually end up the same as if you would have paid a bit extra for tenanted because of the vacancy time and renovation costs.

What to Expect In 2012
Expect an increase of tenanted properties hitting the market. Even the banks are starting to recognize the value in selling a tenanted property that they are letting tenants stay in the homes in hopes to attract an investor looking for immediate rental income. Also watch as the rental demand increases tremendously on long term rental properties causing rents to rise and making landlords very happy they own a rental property. You’ll notice more turnkey properties popping on the market in the vacation rental world also. They offer so much value to the investor who doesn’t have the time or want to deal with all the hassle of getting it up and running themselves.

Most Profitable Turnkey Vacation Home Community in Kissimmee

We hope to earn the opportunity of helping you achieve your investment property goals this year in 2012. For a free, no obligation investment property consultation with our Director of Sales- Lisa Arcia,  please contact us directly at 866-422-6191 and if you have enjoyed this article please consider subscribing to our blog and stay updated on future information.

 

Vacation Home of the Week- 916 Orange Cosmos

We’ve gone through dozens of applications and viewed numerous homes to bring you some of the best vacation homes and owners that Orlando has to offer. We’re proud to compile this list of unique vacation homes and outside-the-box thinking owners. We think each of these homes deserves to be recognized and certainly should be at the top of your list for those of you traveling to Orlando. Check out this week’s Vacation Home of the Week!!

 

916 Orange Cosmos Blvd

Location: Davenport, FL
Neighborhood: Watersong Resort
Owner Booking Weeks: 20
Management Booking Weeks: 4
Website: www.SunshineStateVacation.com

Why Owners Chose This Home:  “We liked the model home and decided to one built newly and just across from the club house. Watersong Resort is uniquely located in a preservation area with beautiful woodlands and lakes.”

What Makes This Home Unique: “Of course all houses are built Tuscany style. Our house difers, because we had the furniture and most decorations and paintings imported ourselves from the Netherlands. High quality and contemporary design. Makes it stand out in the crowd.”

Marketing Strategies: ” To cater for non-English speaking customers I not only translated the website in the respective language, but also reserved appropriate domain names, eg .de .nl .eu etc. I also created a communal website or owners in Watersong Resort to publish their property on for free: http://www.amsport.nl/site. Also installed a Family & Friends discount program and a kick-back referal program.”

The Pink Flamingo’s Review:
The outside the home is very nice but unassuming and upon walking into Bou’s home it was like walking into a model home.  Everything is so unique and I don’t use that word lightly!! I spent quite a bit of time just looking at little things like the wall decor, art work, furniture etc. I was absolutely enamored by all of the detail and work put into this home.  When they had the home decorated they had everything shipped over from the Netherlands, so it’ all authentic. No IKEA in this house! One of the coolest things in the home was the little city landscape that runs across the top of the wall meeting the hallway and the kitchen. How cool! It’s little things like that, that really make this house unique. It’s also very tastefully upgraded and clean.

The real thrill comes when you walk outside into the backyard and your whole backyard is overlooking the most beautiful conservation areas. This is one of Watersong Resort’s major focal points, its gorgeous conservation views. This home is located on one of those direct view lots and it’s walking distance to the clubhouse so you not only have privacy in the home but convenience! What I truly love about the Watersong Resort is that it’s one of the few communities in the area that has really captured the Tuscan style architecture.  The homes don’t look like any other community that you’ll see in the Disney areas and the clubhouse is very high end so you’ll get nothing but luxury here.  It’s also very close to the golf course at Providence which is a huge selling point to golfers. . As a matter of fact, their guests seem to like it so much that they have had two purchase a home in Watersong before they left to go home during their visit!!

Watersong Resort Davenport, FL

Bou and his wife are Dutch nationals and had visited Orlando before making this purchase. They both still work, Bou is a software salesman and has worked in both the Netherlands and Germany which opens up his market of renters tremendously. When they were in a position to purchase a vacation home, being in the Netherlands, they naturally considered places with a warm climate. They had friends that owned vacation properties in France, Spain and Portugal and had told them horror stories about security, and unreliable property management companies in those places. After alot of research Florida was their vacation home destination of choice and they started to explore the market in Orlando.

Owner’s like Bou who live overseas have such a huge advantage to tap into their network of travelers in their country. Bou is doing exactly that. As a matter of fact, he doesn’t even have a HomeAway ad yet. He’s strictly doing most of this by word of mouth in Holland and Germany, which is very impressive! His homepage is also generating leads for him. What he did, that I thought was really unique and outside the box is he started an Orlando Forum in the Dutch language (http://www.sapg.nl/smf) and set up a content management system based website for Watersong Resort owners to publish their property for free. (http://www.amsport.nl/site). Owners can naturally swap referrals with each other on this site. They do advertise on Home Owner’s direct (UK) and VRBO.  Bou’s goal for 2012 is to target the German speaking market with over 90 million people!

If you’re looking to rent a home that’s truly unique, convenient and private than The Pink Flamingo highly recommends Bou’s Home Away from Home in the beautiful Watersong Resort.

Watersong Resort Vacation Homes For Sale

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Vacation Home of the Week- 640 Blue Jay Way

We’ve gone through dozens of applications and viewed numerous homes to bring you some of the best vacation homes and owners that Orlando has to offer. We’re proud to compile this list of unique vacation homes and outside-the-box thinking owners. We think each of these homes deserves to be recognized and certainly should be at the top of your list for those of you traveling to Orlando. Check out this week’s Vacation Home of the Week!!

640 Blue Jay Way

Location: Davenport, FL
Neighborhood: Sandy Ridge
Owner Booking Weeks: 18
Management Booking Weeks: 19
Website: www.OrlandoHouse.me

Why Owners Chose This Home:  “We wanted a home that was a bungalow (single floor), newly built, 4 bedrooms, and with a great floor plan. Two of the bedrooms had to have master suite amenities; with private baths and at least one had to have a walk-in closet. The pool area required a covered lanai overlooking the pool; with southern exposure to enjoy the sun!

We chose to buy in Sandy Ridge, Davenport because it is set within a lush conservation and is ideally situated within easy reach, 20 minutes,  of the popular Central Florida theme parks and attractions.  The community is very well landscaped and also has its own kiddies play area. Being close to great routes such as Interstate 4 and Hwy 192 makes planning those all important days out to parks or shopping that much easier. We also wanted Florida’s beautiful coastline within easy reach, from the quiet white sands of St Pete’s to the fast pace of Clearwater, and with one of the closest (Cocoa Beach) being just over an hour’s drive away.

We wanted renters to have easy access to golf. Golfers will be spoiled for choice when it comes to golf courses, Sandy Ridge is within a few minutes drive of the popular Champions Gate Golfing Resort.  It was very important to have close-by supermarkets, shopping strips and some fine restaurants within a few minutes.”

What Makes This Home Unique: “Our home provides a stunning single floor layout, with beautiful porcelain tile throughout the main living areas (soon to be shown on the web site). Each room in the house is professionally decorated.  A south facing backyard with a covered lanai overlooks the screen enclosed heated pool. The kids, young and old, will enjoy the farmers field seen from the backyard with horses.”

Marketing Strategies: ” Our house has what 99% of all rental homes don’t have, an iPhone/iPad application. This opens up a whole new marketing tool. Google “iPhone Orlando vacation home app” and our application will appear first in the search results. Search “Orlando Home” in Apple iTunes, and our application appears first in the list! We have had numerous inquiries and rentals through the application.”

The Pink Flamingo’s Review: I’ll start with the home itself.  I was in 640 Blue Jay Way  a couple of years ago when I sold Dave and Lois the home and back then it was a very nice home after they fixed it up. Nicely appointed, great location and awesome view but when I went to preview the home a couple of weeks ago I had a “WOW factor” experience when I walked in.  The entire home, except for the bedrooms had been updated with all beautiful 18×18 ceramic tile and it really made the house pop!  This is such a smart move on the owner’s part, especially  for a one story home as the living areas tend to get more traffic.  It’s really adds a more luxurious feel to the home.

Blue Jay way is such a cute home, it’s perfect for families traveling with kids because the floorplan is very cozy and no matter where you are in the house you can have a pretty good idea of where the kids are and what they’re up to.  There’s no getting lost in this home and you don’t have to worry about the family being disconnected by an upstairs.  In my opinion, it’s the perfect family retreat home or even for two couples traveling together as it has two masters.  This home is really great for just about anyone but I love the intimacy and convenience that it offers for families.

Sandy Ridge Properties

The backyard is really cool, it has a view of some farm land and you can see horses grazing and just hanging out. The whole community is very much like that. If you take a drive through Sandy Ridge you’ll see tons of trees and nature. That’s what I love about it. You don’t feel like you’re in some cookie cutter community where all the tress have been chopped down. There is plenty of nature for you to enjoy. The location of the home can’t be beat. It’s not even 5 minutes to a Publix shopping plaza and a short 15 minute drive to Disney.

The owners, Dave and Lois, are a really nice couple from Ottawa and are super laid back and down to earth. Great people to do business with and I’m positive that anyone renting out their home will have nothing but a first class experience working with them. Dave is extremely tech savvy and very sharp. He did something for his home that I have never seen anyone do before, he created an iphone app in his spare time that people can download to their phones. How cool is that? You can actually read reviews on the home, check out local attractions, shop car rentals, check the booking calendar, book the home and so much more!! In fact, based on my search in itunes I think Dave and Lois are the ONLY vacation home owners that have an app for their home. That is truly outside the box marketing and I love it!! If you haven’t already, go to Itunes and download their app here.  It’s free! Don’t forget to “Like” their page on Facebook too.

When traveling to Orlando, if you want to work with honest and ethical people, get a great deal on a cozy yet classy vacation home than I highly suggest renting out 640 Blue Jay Way from the Pollocks.  It gets our Pink Flamingo two thumbs up!

Sandy Ridge Vacation Homes For Sale

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Vacation Home of the Week- Platinum Key Villa

We’ve gone through dozens of applications and viewed numerous homes to bring you some of the best vacation homes and owners that Orlando has to offer. We’re proud to compile this list of unique vacation homes and outside-the-box thinking owners. We think each of these homes deserves to be recognized and certainly should be at the top of your list for those of you traveling to Orlando. Check out this week’s Vacation Home of the Week!!

 

Platinum Key Villa

 

 

 

 

 

 

 

 

 

Location: Kissimmee, FL
Neighborhood: Windsor Hills Resort
Owner Booking Weeks: 40
Management Booking Weeks: 10
Website: www.Keys2OurVacation.com

Why Owners Chose This Home:  “This home was strictly an investment and the numbers were the most important factor. Taking that into consideration, Windsor Hills seemed like the most obvious choice as it was pushing the standard to the next level on vacation homes. It was just an Orange Grove at the time and the home was purchased site unseen, not even built yet, but the location and amenities were what sold it it”

What Makes This Home Unique: “Platinum Key Villa has flat screen TVs in every bedroom, is professionally decorated by an interior designer and offers only the highest quality linens and towels. There is nothing low quality in this home. Many guests refer to it as home-only better”

Marketing Strategies: ” Word of mouth up in Toronto seems to be the biggest ticket for the homes but also VRBO and Homeaway have really helped. Having multiple homes is also a huge plus because you get six times the amount of inquiries and can shift them from one home to another if one is not available.”

The Pink Flamingo’s Review: John is a businessman, investor, real estate agent and now a professional vacation home owner.  He knew from day one that he was going to make this work. He owns five vacation homes in Kissimmee. All of them are in Windsor Hills except for his most recent purchase in the new community of Calabria. His business plan is only to specialize in high end vacation homes in the nicest communities in the area because the rents are so much higher on a high end home, making it possible to turn the vacation home into a very profitable investment.

Windsor Hills Resort

He purchased his first vacation home in Windsor Hills as a prototype and wanted to see how it would go. After having so much success he went on to purchase four more vacation homes and he’s not done yet! Because John does this for a business and an investment (this is in no way his full time business, this is more like his hobby!) the numbers have to work on the homes.  Being in real estate up in Toronto and understanding how property investments work, he analyzes the numbers on every property before making a purchase. His strategy of only buying new homes in upper end communities seems to be working out very well for him as all of his homes have been booked almost the entire year at top rates. When it comes up a luxury vacation home, renters don’t seem to have an issue paying more money to stay in the home as there is a market for those type of renters.

What I like about John’s marketing strategy is that, even though he owns five homes and it’s a profitable business for him, he still treats everyone of them like it’s his only home. John and his family travel to Orlando often and enjoy their luxuries of their homes. They will stay at what ever home is available at the time. Taking on their fifth home has offered them more vacation time as it’s just getting up and going and during the downtime they have been able to come down and enjoy it more. He also uses his homes for his business retreats with his business partner. Being able to vacation and write it off at the same time is such a perk!

One very smart tactic that he did to save time and marketing dollars is that he purchased two exact same homes, right next door to each other and decorated them both exactly the same way.  He did this so he can market them both under one ad and when guests inquired on one, if it’s booked he could just put them in the other without having to upsell or downsell them on a completely different home. Even the little things like the title of his website, Keys2OURvacation.com makes you feel like your discovering something new and exciting. He could have said Keys2YOURvacation but instead he wanted to make it all about the true meaning behind owning a vacation home, enjoying someone else’s private home! He very tastefully named each of his homes after the theme of his website, “The Key”. Each home unlocks a key to a different vacation, I love that he even went as far as having a logo created for his vacation home business.

All of John’s homes are gorgeous. They are all professionally decorated by an interior designer and located on great lots within Windsor Hills.  John seems to have a knack for choosing great locations, probably because of his real estate background, and offering everything in a home that a renter could ever want. The fact that he even uses the finest linens is impressive as many people get cheap with these things.  His homes offer a luxury vacation and convenience to everything. Disney is less than 3 miles away from his homes and you can get to just about everything you would need in less than 5 minutes.  The community itself has a movie theater, game room, water slide, convenience store and the list goes on. Windsor Hills has definitely raised the bar when it comes to vacation homes.  Because they are one of the newer communities in the vacation home niche, Pulte was able to see what worked and didn’t work in their previous communities and they made sure they got it all right the last time in Windsor Hills.

John’s vacation homes are a must stay in when visiting Orlando. Nothing has been overlooked and I think you’ll find his prices to be quite reasonable for a luxury resort.

Windsor Hills Resort Vacation Homes For Sale

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Vacation Home of the Week- Sunshine Villa Orlando

We’ve gone through dozens of applications and viewed numerous homes to bring you some of the best vacation homes and owners that Orlando has to offer. We’re proud to compile this list of unique vacation homes and outside-the-box thinking owners. We think each of these homes deserves to be recognized and certainly should be at the top of your list for those of you traveling to Orlando. Check out this week’s Vacation Home of the Week!!

 

Sunshine Villa Orlando

Location: Davenport, FL
Neighborhood: Westridge
Owner Booking Weeks: 48+ (WOW!)
Management Booking Weeks: 0
Website: www.SunshineVillaOrlando.com

Why Owners Chose This Home: “We chose this home because it has great structure – 4 roomy bedrooms, formal living room and dining rooms, plus an open concept kitchen, breakfast nook & family room.  Lots of windows that face the extra large southwest facing pool and lanai.  The biggest pool and lanai that we found on our house hunting trip! We chose Westridge Community on HWY 27 because it is centrally located – close to shopping, restaurants, golf courses, and major highways providing a quick trip to almost any attraction – especially Disney at only 10-15 minutes away.”
What Makes This Home Unique: “Our home is unique because we care, we provide personal service and always put our guests first.  We have refurbished and decorated the villa personally with all the upgrades and extra touches that each one of our guests takes notice of and appreciates.  We have an extra large southwest facing pool / spa and lanai.  The villa’s private and newly fenced lot provides privacy while enjoying the pool and lanai with views of greenery and plam trees.  The villa hosts a fully stocked kitchen with all new appliances, blender, cappaccino machine, pizza pan, and more … The games room is ready for action with a pool table, ping pong, darts, billards table, foos ball, darts, and a large chalk board wall !!  Provided is a Disney DVD library, board games, books, and playing cards.”

Marketing Strategies: “A host of marekting tactics and strategies enrich the bookings at our villa.  We like to tap into niche markets, use popular advertising websites like Homeaway and VRBO and by making the guest feel welcomed.”

The Pink Flamingo’s Review: First of all, anyone who can pull in 48+ weeks per year without a property manager deserves a standing ovation in my book! That alone is quite impressive. It doesn’t surprise me though, when I first met Lisa she had a vision of what she wanted her vacation home to be. She didn’t just want a rental house that she could put people in and generate income from, that seemed like more of a bonus to her. She wanted a home that she could pour her style, emotions and talents into and that she certainly did!

Sunshine Villa Orlando feels like a home not a house, it’s not your typical vacation rental that people get herded in and out of like a bunch of cattle.  You can tell this home is different from the minute you walk in. It’s the home of people who care about the type of experience their guests are going to have while staying here. One of the best features of the home (and believe me there are many) is the huge over sized pool in back. It’s one of those pools that makes you just want to jump in and lounge on a giant pink raft while sipping a mai tai. I also love the hot tub, it’s big and very inviting as well. What I also really liked was that there is a cabana bath leading out to the pool from the third bathroom which is probably one of the most convenient things a person could ever ask for!! The house will not let you down, it’s just not possible. I’ve seen so many vacation homes and this one has it all. That’s a fact!

Lets talk a little bit about the owners, Mark and Lisa, they purchased the home in 2010 and have completely renovated it. I know Lisa poured her heart and soul into this home to make it what it is. She was dedicated from day one to make Sunshine Villa Orlando a reflection of who she is and in my opinion, if I had to choose just one word for her and her home it would be quality. She’s a quality person who goes out of her way to make sure other people are taken care of. You can see by the guest reviews that I’m not the only person who thinks this!! I love that she incorporates niche marketing into her booking strategies and that she really leverages her website and Facebook page as well for marketing. She always updates her Facebook page when she is at the villa or leaves updates when she is running specials. Be sure to connect with Sunshine Villa Orlando on Facebook also!!

I highly recommend this vacation home to anyone looking to rent a nice property in the Davenport area. I think you’ll really like the community amenities and more importantly the home itself!

Westridge Vacation Homes For Sale

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5 Reasons Why Your Offers Keep Getting Rejected on an Orlando Investment Property

Perhaps you know this situation all too well, you’ve been trying to acquire an investment in the Orlando area for quite some time now and you’ve placed offer after offer after offer but still nothing. You start to question your Realtor and/or perhaps even yourself. You’re a cash buyer, who wouldn’t want to take an offer from a cash buyer, right? Wrong. Let’s take a look at some of the main reasons why your offer’s are getting rejected on not just bank owned properties but other hot ticket properties.

Search Thousands of Investment Properties in the Disney Areas

The Market Is Stronger Than You Think
Maybe it’s you? . . . One of the biggest reasons I see investors losing out on fantastic houses everyday is because of their perception of the market. The have listened to too many friends or family members talking about how depressed the Florida real estate market is that they have formed this idea that they are going to fly down and have the prime selection at hundreds of houses that banks and residents are just desperate to unload.

Reality Check- This may have been true back in 2007 and 2008 but it’s now 2011 and the investment property market in Orlando (vacation homes and income properties) are the hottest commodity to the foreign group and just like you, they are also all cash buyers many of which are educated on what the market is really like. So when you place low ball cash offers on these properties your offer is sent in with about a dozen other cash offer by investors who are NOT lowballing.

Private Listings Not Available on MLS- Davenport Resort Townhouses from $103,000

Your Offers Are Weak. . . but Why?
Your offers are too weak and so is your investment strategy. If your goal is to actually secure a property sometime this year than you really need to evaluate your reasons as to why you keep lowballing on properties that are already undervalued. If you keep low-balling and missing out on amazing deals the only one who loses if you. The seller is going to get their asking price, if not more, and you’re not going to get a property. If you are low-balling because you can’t afford to pay full price in the budget you are looking in than you need to look at properties in a lower budget that you can afford to place full price, or higher, offers on and still be in your comfort zone.

Reality Check- If you now know that, on almost any given property that is in decent shape and in a decent location, you’ll be going up against at least a dozen other offers than you need to pony up your highest and best offer up front. If you’re trying to play the back and fourth game you missed the boat on that. You only get one shot to buy these homes in a multiple offer situation (which is usually always the case) so don’t fart around trying to play games. If you want to get something thousands under market value than you should consider buying directly from the courthouse. . . but remember you save money on the sale price but you inherit all the liens. Do your homework first.

Read Also: 5 Things to Consider Before Buying a Kissimmee Condo

Your Realtor is Not Presenting Your Offers
This is not a conspiracy theory, it really happens and it could be happening to you. Unfortunately, because of the nature of the market there are some Realtors who just don’t want to deal with the hassle of submitting your offer because they don’t think it will get accepted, you didn’t offer what they suggested, there was too much paperwork on the back end, they really want to buy it for themselves etc etc, . Not only is this unethical but it’s downright nasty and against the Realtor code of ethics. It’s so important in this market to be working with a Realtor you trust because it’s a cut throat market out there and Florida is full of wolves in sheep’s clothing.

Reality Check- If you suspect your Realtor isn’t submitting your offers you may have to do some legwork to find out but there is a way that you can find out for sure. You will need to track down the listing agent of the property and call to find out if your offer has truly been submitted. They will be able to verify for you if an offer was submitted matching your info. If you don’t want to have to take it that far, you can ask your agent for some type of email confirmation from the bank or listing agent that the offer was received. In all honesty, if you have to second guess your Realtor this much and go through this much effort to confirm suspicions than you probably aren’t working with the right agent to begin with.

Read Also: Six Signs You May Be Ready For An Orlando Vacation Rental Home Investment

Your Terms Are Not Attractive To The Sellers!
So maybe you are putting in full price, or over, cash offers and your Realtor is presenting them but you still keep getting outbid. It’s possible that the rest of the terms in your contract are just not attractive! Terms are things such as closings dates, inspection periods, seller concessions, home sale contingencies etc. All of these factors play a role in making your offer stronger or weaker. Cash is king but so is a quick closing, short inspection time frame and no requests for contributions from the seller.

Reality Check- From one investor to another, put your self in the sellers shoes every time you go to submit an offer. Pretend you have five contracts sitting in front of you and they are all 5 thousand over asking price. One can close in two weeks with a 5 day inspection time frame and the rest are 30-40 day closings with a 15 day inspection period. You know which one you would take. . . banks and sellers are no different. When buying from a bank, you are just a number to them. Your offer will get submitted into an automated system with dozens of others and the asset manager will select the highest and best and reject the others. It’s nothing personal so don’t ever take it personal if your offer gets rejected.

You Don’t Have All the Facts
This happens quite often and it’s usually not your fault. You’ve found a great house and you get so anxious to bid on it that you call your Realtor in a frenzy to get a contract typed up right away for full price. Your Realtor assumes you know the value of what you’re bidding on and gets it over to you. Lets stop right there; If you’re bidding on a house that is listed for 10% under what every other home in the neighborhood sold for, you need to know this because the home will sell for 10% more than the asking price!! The only way to know this is to make sure your review the comparable sales for the past six months in the community before settling on your offer price. Full price isn’t always full value and properties (unless they are trashed) are not selling under market value.

Reality Check- When reviewing comps and deciding what to offer, don’t offer the lowest amount of all the comps. You have no idea why that home sold for so much less, it could have been trashed, have mold, chinese drywall, who knows! Good properties in this market will sell for the highest market value and sellers (banks especially) are educated on what that value is. It’s not worth losing out on good deals because you’re too busy trying to be cheap. Cheap investors never win in the end because they miss the boat and end up buying high, when it’s too late. Listen to the advice of your Realtor, it’s their job to do everything possible to help your offers get accepted and pushed through. If you don’t listen to their advice than you have only one person to blame when you miss out on a great property.

Did you find this information useful? If so, consider subscribing and get our Free Report: Top 20 Most Critical and Frequently Asked Questions About Buying and Owning an Orlando Vacation Rental Home

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Five Things To Consider Before Buying a Kissimmee Condo

Condo investments are the most popular investment choice right now in the Disney and Orlando areas. Many people are flocking to them due to their very inexpensive price tag and convenience with upkeep and maintenance. There are factors you need to consider before you just jump into bed with a condo community here in Orlando. The last thing you want to do is wake up with regrets when you get slammed with a huge special assessment shortly after the closing and you find out your condo association is broke!

1. Know the Vacation Rental Restrictions Up Front!
Most people read the condo association bylaws after they are under contract to buy a property. . . this is not the best time to be reading that heaping piles of rules and regulations. You always want to get a copy of the bylaws before your due diligence period starts so you have one less thing to worry about. What are you looking for in the bylaws? Rental restrictions of course. Some of the most common are short term rental restrictions, just because the community is zoned for short term renting doesn’t mean there still aren’t restrictions on the minimum time period a renter must stay. You also want to make sure you aren’t buying in an age restricted community if you plan on being able to rent to all ages!

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2. Condo Association Stability!
Orlando, Kisimmee and Davenport Condo associations are going bankrupt left and right due to the foreclosure epidemic. What that means to you is you could be buying into a community that is not financially stable and you may end up having to pick up the slack for other people who aren’t paying, what do I mean by slack? SPECIAL ASSESSMENTS!!  You need to make sure the association is not in debt, they have a healthy reserve fund, all major renovations such as new roofs, landscaping projects or structural issues such as elevators have been recently replaced and when the last increase in the fees were.

Watch Quick Video Tip on Condo Association Stability

3. Do They Have a Private Management Company?
Many condo associations outsource their property management to larger companies who handle several associations and they are not present onsite. It’s always good to live in a condo community that has an onsite property management company for both the homeowner’s and the renters. This means they will be able to address your concerns faster, deal with any emergency issues quicker and you can walk right over to the office and speak with them if you need anything.

Top Three Recommended Disney Area Condo Communities For Vacation Rental: Windsor Hills, Windsor Palms, Bahama Bay.

4. How Vacation Rental Friendly is the Condo Community?
Many vacation rental zoned condo communities are a large mix of both long term renters, owners, snowbirds and vacation renters. If your goal is to book, book, book than you really want to stick with he communities that are vacation rental friendly and have the resort style amenities such as fitness centers, convenience stores, move theaters, fancy clubhouses with restaurants and extravagant pool areas. Those are the communities that are going to attract more short term vacation renters than long term.

Search All Condo Communities For Sale in the Orlando Disney Areas

5. What type of  Vacation Rental Rates Can You Expect To Get?
That’s the million dollar question right there. In most cases you get our of it what you put into it. If you’re buying in a cheap, run down condo community and there are very little amenities for guests you’re not going to be raking in the big bucks on rental revenue. You’re going to get discounted rates for a discounted place. With condos being so inexpensive right now, it makes sense to spend a little more for the nicer community  because you will be earning more with rental rates. Always check the rates that other owners are asking for condos in the community you are looking. You can do that on VRBO.

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