Home Buying in Metro West>Question Details

panyi32, Home Buyer in Windermere, FL

what is the vacancy rate for a 2/2 condo in metrowest orlando?

Asked by panyi32, Windermere, FL Thu Feb 16, 2012

our budget $80,000 cash, open to condo or single family home for long term rental in orlando, what is my option? zipe or neighbood? It seems no money left in metrowest.My husband and I plan to spend one week there next month to find one. If we have 2% of price income every month. we will buy more.

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I don't think that math is realistic. We have several condos in MetroWest that we have helped our investors purchase and now manage for them... you can pick up a 2/2 with a tenant in place for about $69K but that will only get you about $850 a month in rent. The real upside on these deals is when you sell them in 3-5 years for hopefully a lot more than you paid.
Web Reference: http://condometropolis.com
0 votes Thank Flag Link Fri Feb 17, 2012
Hi Panyi32,
I would like to help but I am not sure I understand your question about the vacancy rate.
$80K doesn't buy what it could have 2 years ago but for a 2/2 in metrowest it still
could go a long way! Right now 2/2 condos are listed anywhere between $40 and $80+
with a mid range of around $70K depending on the community and the condition of
the unit. Similar to the prices, rents vary between $750 to $950. Factor in taxes of
around $1,200 and HOA of around $300 per month (more or less depending) and
you can do a quick ROI check. The prospect is good.

If you need someone to help you with your purchase, just give me a call. I would be happy to assist.

Sylvia Paul
Realty Center
5122 Dr. Phillips Blvd
407-864-3139
sylvia@sylviapaulrocks.com
0 votes Thank Flag Link Fri Feb 17, 2012
Hi panyi32,
It all depends on location, location, location.
I have investors that are buying up properties for short and long term rentals.
We have found areas where there is still buying power.
Alot of our homeowners have now become renters which opens up new possibilities!
If you would like to email me, we can start a search for you too.

Thanks a million!

Carol Bauza
The Bauza Group
Charles Rutenberg Realty
carol@carolshome.com
0 votes Thank Flag Link Fri Feb 17, 2012
Hi Panny
good question. It will take a little reseach for me to help you with that but I wil do that later today and get back to you
0 votes Thank Flag Link Fri Feb 17, 2012
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