Al, Other/Just Looking in District of Columbia

is it a good buy right now to take an assigment condo in mona lisa hotel for 322 K for 2/2.?

Asked by Al, District of Columbia Thu May 8, 2008

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Almost 2 years later and sure looks like Robert and Steve called this one right. The amazing thing is that there has only ever been one resale at Mona Lisa and that was almost 2 years ago. Frankly I could never understand this place. The location is actually rather tacky. There is absolutely nothing that you can walk to, which sort of defeats the entire purpose of being in Celebration. Plus every once in a while they have to vent the sewers nearby and then the smell is over powering. Hope you never bought one Al.
1 vote Thank Flag Link Fri Mar 5, 2010
Al,

I agree with Robert on this one. These hotel condo projects are poor investments. You will find yourself feeding this property monthly just to break even. I honestly don't feel Orlando is a good market for this type of investment. Your mortgage and condo fees will well exceed what you take in on a monthly basis from rentals.

Don't rule out vacation homes or townhomes. There are some very strong foreclosure deals on these types of properties in the Kissimmee area that make solid investments.

Feel free to drop me an e-mail if you would like information on vacation homes or visit http://www.thefloridalivingteam.com for vacation home search.

Steve Glose
Real Estate Specialist
The Florida Living Team
Keller Williams Realty

407-616-7286 direct
020 3239 7286 london
407-962-4242 office
866-531-1709 fax
http://www.steve@thefloridalivingteam.com
0 votes Thank Flag Link Thu May 15, 2008
I work real estate in Celebration and my thought would be no way Jose.
I do not see that project benefiting the owner as an investment property and I do not see the property appreciating enough to make a good profit down the road.
I can look up some comps for you if you like.
Feel free to contact me.

Robert

http://www.buyacelebrationhome.com
0 votes Thank Flag Link Sun May 11, 2008
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