Home Buying in Kissimmee>Question Details

Raj, Home Buyer in Kissimmee, FL

I'm a Canadian hoping to purchase a property in Kissimmee 40-90,000.

Asked by Raj, Kissimmee, FL Mon Jan 21, 2013

For use as a vacation hope (young kids) but also something that will pay or itself while I'm not there. Is a townhome the best bet? Resort condo? Appreciate any advice. Hoping to purchase soon.

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7
Elliott Roggers’ answer
I had the same idea that you have, and purchased a home 9 months ago. So Im not going to blow smoke up your butt. I bought it looking for the capital gains over my time I will hold it. I have bought in a short term rental area. As for bookings, I book more than my property manager does, but they dont cover all the costs of the house, although property values seemed to have started moving up. There is a lot of monthly cost associated with having property down there. As for cheap, I didnt find any when i was looking. I bought a 135,000 5 bedroom pool house 18 years old. I thought it was a good deal, but if i didnt i guess i wouldnt have bought it, but i already had a line on this house through a property manager and made a low ball offer from canada before coming down and actualy seeing it. I do beleive from everything i saw it was probably worth 15k more, but that is my opinion. I went into with the though that I am buying the investement(house) so it is expected i would pay the mortgage on the house taxes and insureance, and hopefully get the short term renters to cover the rest wich has pretty much worked out, but it isnt a get rich quick scheme by any means. Ensure you are up on your tax issues. I am happy for it to take a loss as I do have canadian rental income that is a positive in canada that I can offset with the loss while the house hopefully appreciates. I am in the disney area. if you have any questions you would like to ask from an unbiased source. feel free to email me at goldenrivet@hotmail.com and i will give you the honest in formation as best I can, the realtors will give you the market/house facts, but are a bit biased to get you to buy from them
0 votes Thank Flag Link Sat Jan 26, 2013
Before buying a timeshare, calculate the total cost of the timeshare, including mortgage payments and expenses, like travel costs, annual maintenance fees and taxes, closing costs, broker commissions, and finance charges. Then compare these costs with the cost of renting similar accommodations with similar amenities in the same location for the same time period. And remember, a timeshare is not an investment for profit or an interest in real estate that will likely appreciate over time. And if you try to resell your timeshare, it is unlikely you will get any way near what you paid for it
0 votes Thank Flag Link Fri Feb 14, 2014
have a look at Legacy Dunes. I have helped a ton of Canadians buy in there

http://www.frontlinefloridarealty.com/kissimmee

please look at my profile for details and feedback on my services from other Canadians

Alan 407 832 4888
0 votes Thank Flag Link Wed Feb 6, 2013
Hi Raj-

I often work with Canadians and they always find themselves loving vacation homes in Florida. I presume it has something to do with the fact that we're wearing sandals in mid-january? :)

I would be happy to assist you with your search! Our team has a 24/7 inquiry return policy. I will personally answer your questions right away. You can reach me at (407)729-3560 or you can email me at diana@professionalreteam.com.

Take care!

Diana
0 votes Thank Flag Link Wed Jan 23, 2013
Sorry, despite the wild promises, there is really no such thing any more. (If indeed there ever was.) Read my blog: http://www.trulia.com/blog/mark_lemenager/2011/08/vacation_c…

Bottom line is really pretty simple. If you do not personally control the bookings, you will not cover your costs in the cheap vacation condo market.

In addition, I was showing some northerners around the area just a few weeks ago. They were looking for a lock and leave condo in the same area and price range. We only found a few places that even came close to the quality they were expecting.

Do yourself a favor and buy Disney timeshare. Your kids will love you.
0 votes Thank Flag Link Tue Jan 22, 2013
Hi Raj:

If you would like to use the unit a part of the year and rent it out the rest of the time to offset the costs then your best option is to purchase in a community which is zoned for short term rental or else you would not be allowed to use the house as a short term rental home.

As far as the fees are concerned, a townhome might have cheaper HOA fees but instead they might not cover the insurance,… they usually come more or else the same in the end. Be careful about Bahama Bay, as I believe there are some law suits between the HOA and the developer due to some construction defects.

We work with a lot of Canadian clients and I have handled transaction in literally every short term rental zoned community. So I would be more than happy to help you in your purchase.
Please feel free to send me an email any time so we can get the process started.

Abraham Bidhendi
Top Producer Realtor® with over 25 years of experience
Awarded as Exit's TOP Buyer side Transactions in the State of Florida
We have had 165 successful transactions during the past year alone.
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Email: REOsofflorida@msn.com
Website: http://abidhendi.orlandopropertiesonline.com
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte Springs, FL 32701
0 votes Thank Flag Link Mon Jan 21, 2013
Raj,

Those are some great questions. I think that if you are planning to rent it out, you will need property managment as well to insure the property is rented and maintained. If you are planning to use the property as well when you visit you will need to make sure it is in a community that allows short term rentals. Some areas do not like homes rented out for short time periods so they have restrictions against it. I would be happy to help you find the right agent in this area to answer all these questions. We have an extensive network of professionals who deal with just this type of purchase. If you would like to review my profile on Trulia and send me a message or email me directly at THOYT@prutropical.com I would be happy to help.

Respectfully,
Tracy Hoyt
Realtor
Prudential Tropical Realty
0 votes Thank Flag Link Mon Jan 21, 2013
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