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What are the Top 11.5 Criteria for Selecting an Orlando Investment Property
from: ...Tip! Don't burn your bridges if you can afford not to. Keep some property back home until you know you will want to live abroad.
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1. Make sure units are larger than 1800 square feet.
This will ensure your customers can move around within the villa and have that feeling of spaciousness while on vacation in Orlando. When large families feel cramped, the enjoyment of the vacation experience is impacted.
2. Make sure cost per square foot is near $140.
This will ensure you are getting a current market cost to value which is great value in the Orlando FL market as of June 2005.
3. Make sure offer flexibility in floor plan.
Some investments offer lock out rooms which are single rooms for the business traveler who is seeking a place to stay but also offers luxury resort amenities. This also makes it better for you when you use your unit. The lockout allows you to use only what you need while renting the rest.
The lockout also appeals to the rental market as there is demand for four and five bedroom units. These units are ideal for a golf foursome or perhaps families traveling together. Your rental property can accommodate these larger groups when we rent out the entire unit. This gives you an advantage in the rental market.
Tip! Solicitor. You will need to employ a local solicitor, who speaks English, for all the legal aspects of buying a property. Some charge a flat rate, others a percentage of the property price (usually 1%).
4. Make sure the lockouts have central air and a kitchen.
You don't want a room without television and air conditioning. Both are important for the business and single traveler and are important to the property investor.
5. If possible, find sale leaseback program over standard real estate investment option.
Tip! Switch property ownership with your spouse if they are lower rate taxpayers.
This ensures your property investment is rented out for the entire 52 weeks which ensures a consistent cash flow each month. This also provides approximately 10% return and allows you as investor to operate the Orlando property investment as turnkey with very little effort needed to run the resort. Each facet of the property management and marketing is handled using sale and leaseback method.
Tax Property Sales. Get Properties Through Tax Auctions.
6. Make sure your Orlando property investment provides a high quality clubhouse with amenities.
Minimum amenities in family resorts in the Orlando, FL market are fitness center, game room, restaurants, food courts, bars, daycare, movie-theatre.
7. Make sure your Orlando property investment provides a water park and pool for the kids with amenities:
Lazy river, water slides, cabanas, tiki bars, kids pools, adult pools, kids water park and playground and at least 10,000 square feet of deck space. This ensures family vacations are a true experience and keeps everyone entertained while at the resort.
Tip! Ask friends and acquaintances who have recently sold a property for their experiences and recommendations.
8. Make sure if you exercise on vacation that your property investment has the following as well:
Basketball courts, tennis courts and running trails.
9. Make sure you can stay in your Orlando Property investment at a low cost.
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This will ensure you and your family can come to Orlando and experience the pleasures of a family vacation.
10. Make sure property has 24 hour onsite management.
This will ensure if there are any security, housekeeping or maintenance issues, they can be resolved immediately.
11 ½. Make sure property is not further than 10 miles from Disney.
This will ensure your close enough so it doesn't take long to arrive but far enough to avoid all the heavy traffic and the high prices on Disney Property.
If your Orlando property investment has the following, you can feel comfortable you have a great investment.
Tip! Private sale Some property sellers prefer to handle their sale privately, by advertising locally. However a private sale may hardly be found.
Lisa Carson
http://www.biminibayresortinvestment.com
lcarson@biminibayresortinvestment.com
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