Six Signs You May Be Ready For an Orlando Vacation Rental Home Investment

1. Taking Frequent Vacations to Orlando
Do you find you and your family are taking frequent vacations to Orlando? Maybe it’s Disney World or Universal. Whatever the attraction, consider how much money you spend on lodging, dining and activities.  Generally the cost of all that combined annually could be a down payment on a vacation home.  When you’re not using it you can rent the property out which helps offset the cost of owning it.

Search Properties For Sale in Kissimmee’s Top Notch Vacation Rental Neighborhoods

2. Already Own a Timeshare
Timeshares are great for some people but with the real estate market at rock bottom prices on vacation homes have never been lower. Unlike a timeshare, if you own a vacation home you can visit the property as much or as little as you like and there are no penalties and unlike a timeshare you can rent your property out when you’re not using it.  Often times, the carrying costs of owning a vacation home that is being rented out ends up being almost the same as an upscale timeshare.

Everything You Wish You Knew BEFORE Buying a Florida Vacation Rental Home

3. Planning Your Retirement
Many people who plan their retirement already have a set place in mind that they would like to retire to.  If you are one of those people consider the financial benefits to investing in a vacation home for your retirement.  The ability to offset the cost of owning the property until retirement and still use the home for vacations is a huge perk as well as the equity that you will be building towards your retirement nest egg.

4. 1031 Exchange
Many investors who are selling off their investment properties are looking to take advantage of the 1031 exchange for tax purposes.  What a great opportunity to invest your gain into a vacation rental property.  You not only save on taxes but now you gain a vacation home that you can retreat to as well as offset the carrying costs of owning.

5. House Exchange
Ever wish you could be part of a house exchange and travel across the world all while living like a local? The only downside to house exchanges are if you don’t own a vacation home, you would have to rent out your own personal residence to strangers.  I don’t know many people who would be okay with that.  Owning a vacation home now gives you the flexibility to trade up your house with someone else’s and not have to worry about personal belongings.

Windsor Hills Resort Homes For Sale in Kissimmee

6. You Just Want a Good Florida Real Estate Investment
If only for the reason that you’re looking for a property that will appreciate in value than buying a vacation home could be the best investment you ever make. Vacation rental properties are in a specialized category of real estate and due to their zoning flexibility for short term renting, there is always a demand for this type of property from international investors.  Vacation rental homes, in my opinion, could be one of the safest real estate investments you can buy.

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How To Ditch Your Bad Florida Realtor

If You Don’t Like Your Florida Realtor

So your Realtor was great over the phone, did their job, always got back to you and helped you get everything prepared but after you met and started working together he/she just didn’t seem to hold up to their first impression they gave you. This would be an unfortunate situation to find yourself in after you’ve spent all the time and money on your trip down here to purchase a property. If it’s just an issue of your personalities not meshing well than my advice would be- If they know what they’re doing and are experienced you may want to try to work through the personality issues.  At this point you run the risk of choosing someone new out of desperation and could end up with someone worse.

If your Realtor just doesn’t know what they are doing and can’t seem to give you any relevant information about the properties or even worse, doesn’t even show up than I have a couple of suggestions for you that shouldn’t waste too much of your inspection trip time:

• Contact their broker and let the broker know about your concerns and your experience with this Realtor so far and see if they have someone else in that office they can refer you to.
• Pull out that original list you made when you were interviewing Realtors and try contacting one of the other two Realtors.  They just might have some availability and can squeeze you in.
• If you are staying in a vacation home neighborhood, go to the nearest shopping center and see if there is a real estate company within that plaza, trying walking in and explaining your situation.  Explain to them what you are looking for in a Realtor and see if they have someone who is willing to take you out on last minutes notice.

I certainly don’t advise finding another Realtor at the last minute as that usually ends up in disaster however, sometimes these things just happen and Realtors just don’t workout.  Try and prepare for this situation ahead       of time and maybe have a Realtor in the back of your mind as a back up plan. Make sure you hold on to that itinerary, your next Realtor will need this so they know which properties you want to see before you leave.  If          you do switch Realtors, as a professional courtesy, let your current Realtor know that you are no longer going to be working with them so they don’t wonder what happened to you.

Remember, when it comes to buying vacation property in Orlando, if you fail to plan than you plan to fail. For a complete road map and guideline to getting from point A to Z and avoiding all the pitfalls in between when buying your vacation rental home in Florida be sure to check out our up and coming e-course “Everything You Wish You Knew Before Buying a Florida Vacation Rental Home”

Four Free Ways To View Local Orlando Real Estate From Afar

Trying to find the perfect vacation rental investment from thousands of miles away can often become a very frustrating task. Homes might look great in the pictures online but what does the surrounding area look like?  If you’re not utilizing at least one of these five free mapping tools listed here than you you may be in for a huge surprise when you arrive here in Orlando for your property inspection trip.

1. Bing Birds Eye View: Birds Eye View from Bing is one of my favorite free mapping tools on the market. It’s so easy to use and gives an very clear picture of not only the home but also the surrounding area. It also offers an ariel/satellite view which is similar to what google has.

2. Google Street View: Some pretty funny stuff has been caught on Google street view but we’ll save that for the What the Flock section. Google street view is great for just about anything but above all it’s amazing for researching real estate.  It’s the second best thing to actually being able to walk or drive the streets your self.  Google street view offers you a 360* view of the street.  This is great if you want to see what your future neighbor’s houses look like or what your walk to the clubhouse will be like.

3. Map Quest:

Compared to Bing and Google, Mapquest seems to be the awkward kid at school but even the awkward kids are good at something and mapquest is still my number one choice for driving directions and route planning.  Mapquest even has the 360* and ariel view options. What’s great about Mapquest is you can map the route with an ariel view and also add tons of cool options to your route like gas stations, traffic reports and much more. Mapquest is a very useful program for checking the distance and route from your potential vacation home to Disney or other popular destinations.

4. Google Earth:

Google Earth deserves it’s very own post but I’m throwing the short version in because it’s THAT important to know about and utilize in your property searches.  Google earth integrates street view, ariel view and so much more.  You can view the sun exposure at any hour of the day, see what your neighborhood looked like 3 years ago and if you’re an astronomy nerd like me you’ll love that you can even view the night sky from the house that your researching.  How cool is that? Google earth is  free to download and will become your best friend when trying to purchase and research a home from thousands of miles away.

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How To Estimate Rental Potential For an Orlando Vacation Rental Investment Using VRBO

As if I haven’t pounded this into the heads of my readers enough already here I go with a video tutorial to make this even more clear.  You must research a vacation rental investment before you purchase it, two of the most important things you want to know up front are

1. What is the rental potential of this property?
2. What type of rates can I generate?

In my up and coming ebook I go into this subject in EXTENSIVE detail with spreadsheets and videos but for the sake of keeping this simple, short and sweet I’ve created this quick little tutorial on how to quickly use VRBO to check the booking and rental rates of an Orlando vacation rental.  This method can be used for any vacation rental property listed for sale.  All you need to know is the neighborhood name and the general stats of the home (beds and baths)

Here is a link to the exact property I used as an example in this video
Here is a link to the example listing I used on VRBO

Important Information Regarding the Launch of The Pink Flamingo’s New Ebook

I would like to say a huge thanks to everyone who signed up on the waiting list for the up and coming ebook “Everything You Wish You Knew Before Buying a Florida Vacation Rental Home”.  It’s quite a mouthful to say but I wanted the title to reflect the extensive detail of the ebook.  This is a project I have been working on for quite some time now and I’m excited to release it to you.

We’re Beefing Up
During the process of writing this book I have come across so many fantastic people that have inspired me, educated me, helped me and guided me. Like everything else in my life, if I can’t devote my absolute best to something I will not take it on, because of this I have chosen to add both video and interactive spreadsheets to the ebook. This ebook will no longer be just another ebook but the only Florida vacation home buying resource you will ever need and will be more of a workbook.  The process of adding these bells and whistles to this has caused me to have to delay the launch of the book.  I don’t feel it would be fair to deliver you the product in it’s current state, I want to give you the most valuable resource available on the market today and to do that I will need to push this launch back.  To show my gratitude to those of you who have been anxiously waiting for this ebook and registered on the launch list before December 7, 2009; I will be giving you this workbook absolutely free, details on that have been emailed out to you.

Again I want to thank everyone for their help and support with this project and please stay posted for the release date.  I don’t anticipate this going to far past January and I am pushing for before the New Year.  If you haven’t subscribed yet you can do so here to stay updated this project.   Happy holidays to all of you around the world and thank you for being part of the flock!

Are You Buying an Orlando Vacation Rental Home For All The Wrong Reasons

Don’t be that guy who thinks he’s going to get rich quick or cash in on an Orlando vacation home cash cow.  You should avoid buying a vacation rental home in Orlando if your reasons are any of these three.  A vacation rental home if doe the person who just wants to own a piece of Florida and understands they may or may not break even but they don’t care because this is their dream.

1. To Generate an Income
Stop right there and do not pass go.  If you’re one of those people that think you’re going to buy a vacation rental home and generate a cash flow on your property all while enjoying the fruits of your investment three months per year you are dead wrong and should reconsider your decision.  Yes- There are people in Orlando generating a small income off their vacation rental homes but it’s a very small percentage and there are several factors that have to line up for this to happen.  Most of the time, epecially for those taking a mortgage, you should expect to pull 20%-30% out of your pocket every month to own the property.  You do have a decent shot at breaking even but it’s going to take some work on your part.

View Properties With Transferable Bookings

2. For a Quick Flip
So you’ve been bit by the get rich quick bug and have decided you’re going to cash in on some of Florida’s foreclosure properties. . . Orlando vacation homes rarely make a good quick flip and its extremely difficult to net anything from the little money you may make flipping it.  The only vacation rental neighborhood in the Disney areas that I have seen investors successfully flipping houses for a profit in is Legacy Dunes and even that’s not what it used to be anymore.  Legacy Dunes used to be a nice little gold nugget buried away within Kissimmee that investors were cashing in on but word quickly spread and the inventory has dried up. You’re competing against dozens of other investors trying to do the same thing and as the higher you have to bid to get the property the lower your profit margin falls.  The best quick flip properties are bulk packages that are generally purchased by investor groups.

Read Also: Legacy Dunes Being Flipped For a Profit On Ebay

3. For a Beach Getaway
I know this sounds obvious but you would be surprised how many people contact me because they want a beach retreat and think the prices in Orlando are great.  Nine times out of ten those people leave very dissapointed when they realize that a one hour and fifteen minute drive is not exactly around the corner. It doesn’t sound like a long drive but if you plan on hitting the beach every day on your vacation than you may really want to consider the west coast of Florida as a better choice.  Orlando is not known to be a place to visit for the beach, it’s known for Disney and all of the other attractions.  The beach just happens to be an option for many, then again for those of you that don’t even live a days drive to the beach an hour and fifteen minutes may be the best thing since sliced bread.

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If You Don’t Research Your Florida Vacation Home Neighborhood Now, You’ll Hate Yourself Later

There is so much that goes into buying the perfect Florida vacation rental home. Many people think that it’s as simple as just jumping online and browsing for Florida homes.  Though that’s not a horrible place to start it absolutely shouldn’t be the first place.  Florida vacation rental homes are a very specialized niche and understanding that fact will help guide you down the right path that will save you the most time and money.  One of the major factors that play a huge role in choosing the right vacation rental home in Florida would be neighborhood research.  In my ebook “Everything You Wish You Knew Before Buying a Florida Vacation Rental Home” I go into all the steps in great detail but for the sake of keeping this short and sweet I’m going to touch on this very important subject.

Is The Potential Florida Neighborhood a Vacation Rental Hot Spot?

Much like hotels the Florida short term rental vacation home industry has a reputation. Anyone who has been to Florida and stayed in a vacation rental home understands the importance of staying in a neighborhood that caters to vacation home renters. If you are looking to purchase a home that will actually rent out to guests than the first thing to want to do is check out which neighborhoods rent the best.  There are many different ways to do this but one of the easiest ways is to hop on Trip Advisor and start researching what people are saying about some of the local vacation rentals. You can get a good idea of what some of the more popular vacation rental neighborhoods are just by reading the reviews.  You’ll start to see some of the same neighborhood names pop up over and over.

Top 20 Most Critical and Frequently Asked Questions About Buying and Owning an Orlando Vacation Rental Home

What Type of Rental Rates Can I Expect In This Particular Neighborhood?

Another important factor to consider is the potential booking revenue you can expect from the neighborhood you are considering buying your Florida vacation rental home in. You might love the community and absolutely adore the house but if the rental revenue is much lower in that neighborhood than the surrounding ones wouldn’t it make more sense to fall in love with another home that’s similar in price and going to bring you in a better return? Don’t make the mistake of thinking that because another community close by gets great rental rates that your neighborhood will too.  Know the facts.  You can check rental rates several places but one of my favorite and probably the easiest way to do this is to go on VRBO.com and look it up.  VRBO is an owner site so the rates advertised are by vacation rental home owners.

It Pays To Do Your Homework-Literally
I hope you put these tips to good use on when buying your Florida vacation rental property. As you can see buying in the right neighborhood makes all the difference in the world when it comes to rental revenue. If you would like even more great tips about buying a Florida vacation rental home or perhaps you’re looking for some type of reference to guide you through the process, check out my ebook “Everything You Wish You Knew Before Buying a Florida Vacation Rental Home” which is launching Dec 7, 2009 to everyone on the waiting list.

Did you enjoy this post? Consider subscribing and get our Free Report: Top 20 Most Critical and Frequently Asked Questions About Buying and Owning an Orlando Vacation Rental Home

Why Orlando is a Great Choice for Canadians to Own a Vacation Home

Guest Post by Dave Pollock, Davenport Vacation Homeowner

As a Canadian, living in Ottawa, Ontario, I can relate to many people wanting to escape to the warm climate of the southern United States. Having a young family, we were drawn to Florida because of its unique qualities: It is very easy to get there by a relatively short plane ride, or for the adventurer you can drive, and of course there is so much to see and do for all ages. We had been renting houses in the Orlando area for several years; and after a couple of years I said “Honey, we should look into buying a house in Orlando” – “Sure, dream on” my wife says with a smile.

We love Orlando; it has so much more to offer then just the well known theme parks, shopping, and restaurants. You could be in the countryside in less than 20 minutes, and on the beach in approximately 1.5 hours. It also has great neighborhoods with highway access nearby. Oh, and let’s not forget NHL hockey in Tampa, less than 1 hour away! We discussed buying a home more seriously, about a year ago, and while there on another 2 week vacation we hooked up with a Realtor from the Pink Flamingo Group, and went and looked at around 10 houses. Not only did we want to own “a piece of paradise”, in our own minds, this would also be a great location to rent out to people from all over. We had certain criteria in-mind, which the house had to meet. It had to be in a neighborhood that was under 5 years old, within 15 minutes to the theme parks, 4 bedrooms, south facing heated pool, reasonable HOA fees, and need little or no repairs. We thought it was crucial to have these qualities to help rent the house out as well as meet our own needs. We had experience with renting, so we knew what renters would want.

We finally found the perfect house in a great neighborhood named Sandy Ridge, which is in the city of Davenport. Davenport is a very attractive location for renters because of its close proximity to all that Orlando has to offer. It feels like a country retreat because of the undeveloped area and it’s just far enough away from all the hustle and bustle. Looking back…would we do it all again? Absolutely! Orlando has turned out to be a great location to own a rental home. Not only do we get to take our vacations with friends and family to our very own “Sun Retreat”, we help supplement the expenses of the home by renting it when we are not there.

About The Author: Dave Pollock and his wife Lois own a beautiful Davenport vacation home in Sandy Ridge. It’s the perfect retreat for anyone looking for an afforable vacation home with a private pool. The home is located  within a short 15 minute drive to Disney and other Orlando attractions. Consider renting the Pollock’s “Sun Retreat” next time you come to Orlando.  www.OrlandoHouse.me

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The Chuck Norris Guide To Closing On Your Orlando Vacation Home in 30 Days Or Less

What do Chuck Norris and Orlando vacation homes have in common? Everything of course.  For example, If you have five dollars and Chuck Norris has five dollars than Chuck Norris has more money than you and will most likely outbid you on a property. The first lesson to learn here is that Chuck Norris gets things done and he gets them done fast. No title company, mortgage company or lazy Realtor can stand up to his roundhouse kick in the face so that being said lets get right into this and see what Chuck can teach us about closing on an Orlando vacation home in under 30 days. 

Chuck Norris Does Not Get Frostbite. Chuck Norris Bites Frost
If you don’t want to be stuck spending your winter in what feels like the trenches of Antarctica than make sure you have all your financing in place before you start making offers on any Orlando vacation properties (unless you bite frost).  If you’re paying cash, make sure it is liquid and ready to be wired into the title company’s escrow account on the day of closing.  I have had situations with clients who said they were paying cash however, still had to have the money cashed out of their home.  This usually happens when a person is using either a home equity line of credit or is in the process of doing a cash out refinance on their primary home.  This is not a bad thing but if you are shooting for a 30 day or less closing it can definitely hold it up. If you’re taking a mortgage than the whole pre-approval process needs to be done, even get as far as requesting a loan commitment with contingencies.  Then you know exactly what the lender needs to move forward.

Top 20 Most Critical and Frequently Asked Questions About Buying and Owning an Orlando Vacation Home

When Chuck Norris falls in water, Chuck Norris doesn’t get wet. Water gets Chuck Norris.
Since you’re not Chuck Norris you and your home could be subject to flooding.  Checking to see if your home is located in a flood zone is a very simple thing your Realtor can do for you.  Generally it’s just a matter of pulling the tax records on the home. If you’re concerned about living in a flood zone have your Realtor check this information out for you BEFORE you write a contract not after.  You will have enough to do once the contract is accepted you don’t need to be worrying about a flood zone.  Most lenders will require a new survey be ordered on the property this will also tell if your home is located in a flood zone.  You won’t get this document before the contract though, it’s generally ordered around the same time as the appraisal. If you’re paying cash for your Orlando vacation property than you will need to have one of these ordered as it’s not standard procedure.

Chuck Norris can slam a revolving door. Interview Disney area vacation home management companies as soon as you submit the offer. Don’t waste any time on this because you may be slamming a lot of doors yourself on your way out! Searching for the perfect vacation home management company in the Kissimmee and Davenport areas can be very frustrating and many people often have to go through at least five or six before they find a company they are happy with.  I am in no way advising you to go with the first Orlando holiday villa management company that you speak to.  Ask your Realtor to provide you with at least 3-5 names and start your hunt  A good Orlando vacation home Realtor should be able to provide you with a list of questions to ask the management companies.

Read Also: 10 Questions You Must Ask Before You Hire Any Orlando Property Management Company

Chuck Norris’ house has no doors, only walls that he walks through. Chuck Norris is unfortunately unavailable for home inspections however Orlando is filled with tons of great licensed home inspectors. Your Realtor should be able to provide you with at least two or three names so you can make a choice.  In order to close under 30 days you want to get this inspection done immediately after the contract is executed (signed by all parties).  What’s critical about this is that if there are any issues with the home you can address those immediately.  Sometimes you can find out the air conditioning system isn’t cooling properly or that a sink or toilet is leaking. You will want to have an a/c specialist and a plumber come out and look at it immediately so you can find out what these things will cost to fix.  You could find out it’s not a big deal and everything is great or you could find out you need a whole new a/c and plumbing.  These are all things you want to know upfront and as soon as possible.

Chuck Norris doesn’t read books. He stares them down until he gets the information he wants.
You on the other hand will have to actually read and what you need to be reading are what’s called the Homeowners Association (or condo association) bylaws for any Kissimmee, Davenport or Clermont vacation home.  This is the document that talks all about what you can and can’t do with your home while living in the neighborhood.  Restrictions like these are actually good things as they prevent your neighbor from painting their house hot pink or puke green however, there may be issues such a whether or not you are allowed to put a fence up in your backyard.  These are the kind of details you want to find out within the first three or four days of your contract being accepted.  Remember, we’re shooting for a 30 day closing so I would even go as far as having your Realtor dig up this information before the contract gets accepted.  Chances are, if your Realtor has sold houses in that specific community before and an electronic copy is available than he/she should be able to email that over to you.

Chuck Norris is the only person in the world that can actually email a roundhouse kick.
If a mortgage is involved make sure the appraisal is ordered within the first five days of the contract being executed.  What does this have to do with a roundhouse kick? Nothing, but I will not be opening any of Chuck’s emails. If you’re paying cash for the property this isn’t something that is absolutely necessary and getting an appraisal is a choice you can make on your own.  If you’re taking a mortgage you no longer have a choice in the matter and it’s a mandatory thing.  Appraisers do not work on your schedule they work on theirs and unless you can get Chuck Norris can send them a roundhouse kick email chances are this task is going to take the longest to accomplish so push your mortgage specialist to get this ordered asap and make sure your Realtor stays on top of this as well.

Chuck Norris can set ants on fire with a magnifying glass. At night.
And if Chuck Norris was your neighbor it’s a possibility that your house could catch on fire too. You want to make sure you have all your angles covered and securing your homeowner’s insurance is also something you want out of the way.  Have your Realtor provide you with some names for you to contact, he/she might even have someone in house that can give you a good price.  Whatever the case just get it done.  Don’t forget to get a short term rental liability policy either or property management companies will not be renting your house out.  This is something than can be done after closing but most Kissimmee, Clermont and Davenport homeowners insurance companies will offer this policy as well since short term rental homes are a huge part of our market.

Chuck Norris can divide by zero.
That’s amazing. . .What’s not amazing is if you get to the closing table and you find that you’re short on funds.  That’s a really big inconvenience to you and the seller so I highly suggest that you request a preliminary HUD-1 from the title company at least 10 days before closing to ensure everything adds up and you are prepared to close. At least this way you will have plenty of time to penny pinch and analyze the fees on your closing statement.  You may even be able to get some unnecessary “junk” fees removed.  The closing table or the day before is not the time to be doing this so keep that in perspective and urge your Realtor to get you a copy as soon as the title company has it available.

When the Boogey man goes to sleep every night, he checks his closet for Chuck Norris.
I highly suggest you do the same.  The last thing you want to do is wait until an hour before closing to do your final walk-thru inspection and have Chuck Norris jump out of the closet. I recommend doing this no sooner than 24 hours in advance if you can, this way if anything is missing or out of place you have time to sort it out.  If you wait until it’s too close to closing you risk holding up the closing and if it’s on a Friday you now have to wait until Monday if it doesn’t close.  Not good for anyone involved, especially Chuck Norris.

Random Chuck Fact: Google cannot even find Chuck Norris. True Story, see for yourself.

Awesome Chuck Facts Provided By: Chuck Norris Facts
Awesome Pics: One Reason Why

Proxio’s 2009 Top 25 Most Visible People in Real Estate- The Pink Flamingo!

Proxio just released it’s 2009 MVP (Most Visible Professional) list and I’m excited to tell you that The Pink Flamingo (Erica Muller) made the list!  What does this mean to you? This is just one more reason why it pays to work with one of  Florida’s most visible and connected real estate professionals.  The ability to put your home in front millions of people internationally in a specific niche, being on top of local real estate news affecting the Orlando vacation home market and offering specialized vacation home expertise is what The Pink Flamingo is all about!

To find the most connected professionals in real estate, Proxio, the international MLS and global referral network, invited industry participants to enter the first annual Proxio Most Visible Professional (MVP) in Real Estate Challenge™. “The search was held from July 7 – 27th with support from Inman News. Participants told us how many connections, followers, friends or associates they have on ten social and professional networking sites.”

6 Common Sense Reasons Why You Should Never List Your Orlando Vacation Home For Sale With a Property Management Company

The purpose of this post is not to knock management companies as their are a few good apples out there however, it’s been my experience that property management companies should stick to what they do best and that’s managing vacation property. Here are some of the issues I’ve ran into with homes that are listed by property Orlando vacation home management companies that also have a real estate side.

1. Scheduling Conflicts: I’ve never had more issues trying to get into houses than I have with ones that are listed with Orlando area management companies.  It’s inevitable for everyone that if your home is being actively booked there will be times it can not be shown however, the vacation home management companies I have had the pleasure of doing business with seemed much more concerned about the bookings than actually showing the home to prospective buyers.  It seemed as though they only wanted to sell the home to their clients who were staying in it (they will make more money that way) than to expose the home to as many buyers as possible in order to get it sold quickly and for the best price. This is certainly not in the sellers best interest.

2. Not a Specialized Process: Yes many management companies have a real estate division however it is NOT their specialty.  When it comes to selling an Orlando vacation home, marketing is one of the most important skills a real estate company/associate can possess.  Aside from slapping an MLS print out of the property in their window and throwing the home up on their website (that doesn’t get any traffic anyway) I haven’t seen any vacation homes listed by Orlando management companies that are being marketed effectively, uniquely or heavily.  A dentist and an orthodontist both work on teeth, however I’m not going to go to a dentist for braces I’m going to go to an Orthodontist.

3. Under-staffed: Wow, this has been a huge problem I have been running into when trying to sell Disney area vacation homes listed with Orlando management companies.  Their operating hours are from 9am until 5pm Mon-Fri and if you call on the off hours you get a voice mail that won’t be checked until the next business day.  When do you think most of your property showings and contracts will be coming in? It’s usually on the weekends or after 5pm and if your agent/broker is unavailable during those times you wont be hearing about any offers until it’s most likely expired.  Take in consideration time differences as well if you are living in another country, by the time everyone gets on the same page the buyers have moved onto a different property.

4. Poor Marketing: This reiterates what I recently stated in number 2, due to the fact that 99% of Orlando management companies main source of income comes from the management end, they don’t dump too much time and money into their real estate marketing or train their agents how to market and sell Orlando vacation property. The property sales are a bonus for them and from what I have seen the listings get slapped into MLS and that’s about as much marketing as your going to get.  Why would you want to pay a full service real estate commission for a half service job and wait even longer for your vacation home to sell? It sounds convenient at the time to just list with the company who is managing your Disney area vacation property however, this can be one of the most costly mistakes you can make when selling your home.

5. Ulterior Motives: Management companies are not trained to sell homes they are trained to book vacation stays.  It’s the difference between hospitality management and business marketing.  They are two completely different animals and therefore you run the risk of ending up with a Realtor who’s sole purpose in selling your home is to secure vacation home management with their company.  If you have two buyers both placing offers on your home, Buyer A wants to use their management company after closing and Buyer B does not but buyer B is willing to pay more or offer better terms which offer do you think you’re going to hear about first? Though it is illegal to withhold offers from the seller, I have seen Realtors wait until after the one that was in their company’s favor was accepted and then present the higher offer afterward when it’s too late to accept it. I’m not saying they all do this but I have seen it happen and you always run the risk of this whenever there are ulterior motives with the agent (kickbacks, quotas etc).

6. Hard To Show : This has to be one of the most common reasons why it’s so complicated to sell properties listed with Orlando management companies.  Many of them do not utilize the lock box system and insist on meeting you out at the property.  This means you have to work within their restricted schedule.  Most buyers that are buying real estate in the Orlando-Disney area do not live here and are only in town for a limited amount of time. I recently ran into a situation where there were two townhouses listed in a resort community that my buyers really wanted to see.  They were only in town for 48 hours and  for the sole purpose of finding a vacation property.  The management company who had these townhouses listed was not able to reschedule their day or free up some time to meet us at the properties within that 48 time period.  My clients did not see those town homes and purchased something else instead.  Do you think the management company went back and reported that to the seller during their weekly feedback session? Probably not.

As you can see these are just some of the most common sense reasons why it does not make sense to list your property with a vacation home management company in the Kissimmee, Davenport or Clermont areas.  It’s vital to the sales process to stick with a specialized firm who has a website with excellent Google placement, specialized marketing techniques, a steady flow of vacation home buyers and is specifically trained in the sales and marketing process for Disney area vacation homes.

Del Webb-The Dead Beat Dad of Builders?

WFTV just broke the story on the latest Davenport community, La Cresta a 55+ active adult community, to be abandoned by its builder.  “A homeowner called Eyewitness News after he bought a house in what was promised to be a sprawling retirement community in Davenport, but it turned into nothing but a ghost town.”

No sooner than residents could say “I worked my whole life to finally retire and now I’m stuck in a ghost town with no pool, half-built homes and vacant lots” did Del Webb show up and peel the signs off all the buildings, lock the doors to the sales office and board up the windows.

Search Davenport Resort Neighborhoods

According to their official statement that they issued on July 10, 2009 they said, “The decision was a direct result of the Company being unable to resolve the claims of a breach of contract, among others, against JL Land entities, with whom Pulte contracted to purchase developed lots, and the Estate of Joe Lewo.” For as long as Del Webb knew about these on going issues they continued to sell homes to prospective homeowners without even so much as a “heads up” on the situation.  Quality.

This is starting to sound familiar. . . Bimini Bay, Bella Colina, Notting Hill.  So many communities are getting left high and dry by the builders due to financial problems.  The homeowners are getting stuck owning properties in what they thought was going to be a resort paradise and turns out to be nothing more than a pile of bricks with a fancy entrance and angry neighbors.  What’s really sad is that homeowners can’t even sell their home because who wants to purchase in a unfinished community?  Even if they are lucky enough to find  buyer for it they most certainly will not be able to get the price they paid to the builder, therefore losing more money.

Del Webb is a subsidiary company of Pulte Homes, a large home builder in the United States.  This makes me wonder if other Del-Webb communities, like Bella Trae in Champions Gate, could potentially be in danger of a situation like this occurring.  My advice to any prospective home buyer who wants to buy new is to stick with the communities that are already finished and are trying to unload their final inventory (completed) homes.  You still get all the benefits of buying new like the home warranty and that “never been lived in, fresh paint smell” but you get the security of knowing that all the amenities have been completed so even if the builder went bankrupt tomorrow you’re not stuck owning in a ghost town with unfinished homes and amenities.

In closing to this not so shocking news, at least Pulte has noted in their statement that ” Pulte remains committed to honoring any customer service or warranty related needs under the Pulte Protection Plan.” How nice of them.  Maybe we should send them a bottle of wine for their kindness.

Sandy Ridge Bank Owned Vacation Home Testimonial

A Pink Flamingo vacation home testimonial.  This lovely Canadian couple recently closed on their bank owned vacation home in Sandy Ridge.  They had the entire house furnished and put under management within in days of closing.  The property is already booked out for the summer and they are as happy as can be.  If you are interested in renting this Sandy Ridge beauty for a holiday visit to Orlando you can visit their site at: www.orlandohouse.me

Sandy Ridge Bank Owned Properties For Sale in Davenport, FL

31 Things To Look For at Your Final Walk-Thru Home Inspection on Your Kissimmee Investment Property

1.     Check all screens to make sure they are on the track properly (could be missing or lose from any break ins)
2.    All windows open and close properly
3.    Front door key lock and deadbolt locks properly.
4.    Sliding glass doors open and close, and lock properly
5.    All water faucets working, and no leaks under the sinks while water is running.
6.    Kitchen sink sprayer hose working.
7.    All toilets working, no leaks under the toilets when flushed.
8.    Hot water working.
9.     A/C unit working.
10.   Washer/Dryer working.

Read Also: Why You Need a Realtor if You’re Purchasing a Disney Area New Build Home

11.    Dishwasher has all trays
12.    Refrigerator installed and working, including inside ice maker.
13.    Microwave working and has all pieces.
14.    Stove installed and working.
15.    Garbage disposal working.
16.    Walls/ceilings all painted and in the same condition when you first saw it
17.    Floor tiles not cracked or damaged.
18.    Carpet not damaged or loose.
19.    Outside water faucet working properly.
20.    All lighting fixtures working with appropriate wall switches.

Read Also: The 7 Most Popular Disney Area Neighborhoods for Villa Bookings

21.    All ceiling fans working with appropriate wall switches.
22.    All window blinds installed and working (open/close without problem).
23.    All inside doors (including closets) open and close properly.
24.    All door stops are installed and working.
25.    Closets all contain shelving/storage racks as per contract.
26.    Kitchen cabinets/drawers all open/close properly, handles installed, no damage to surfaces.
27.    Kitchen counter top has no chips or other damage.
28.    Bathroom vanities all open/close properly, bathroom counter tops have no chips or other damage.
29.    Outside paint complete, no chips or other damage.
30.    Mailbox present (believe it or not these DO get stolen!)
31.    Pool Heater Still In Place (These also get stolen)

Read Also: The 9 Best Kissimmee Gated Communities To Own a Vacation Home In

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