Rush Khan, Home Buyer in Outside U.S.

Are the prices in Orland area still expected to drop for next two years. I am a cash buyer seeking investment properties. Rushkhan@gmail.com

Asked by Rush Khan, Outside U.S. Fri Mar 18, 2011

Please send me more info on investment properties

Help the community by answering this question:

+ web reference
Web reference:

Answers

16
Mike Luzzo, , Orlando, FL
Fri Mar 18, 2011
Hello Rushkhan

Investing is all about ROI. Go to about.com download their ROI pro forma spread and plug in your numbers. Simply speaking if your Cash Flow After Taxes (CFAT) ------> is where you want it to be. Buy that property.
Speculating more the 90 days out is a ‘fools’ game.


Need More Information? Please visit us @ http://topvaluesinorlando.com/

Mike Luzzo
Charles Rutenberg Realty
933 Lee Road, Suite 300
Orlando, FL 32810
Office: (407) 622-2122
Cell: (407) 222-4545
Fax: 407-442-0615
1 vote
Scott Pagano, Agent, Orlando, FL
Fri Mar 18, 2011
Good Morning Rushkhan,

As my Grandmother use to say "Make Hay in the Sunshine".

Many Investors are buying the inventory now. If you wait for the Inventory to
get low you'll be caught in a multiple offer situation which will lead to a
higher purchase price.

Contact a Broker or Realtor and speak to them about your goals.

Hope this helps,
Wendy Golding
Asset One Realty, Inc
Broker/Owner
407-470-3894
goldingrealtor@aol.com
Web Reference:  http://www.scottnwendy.com
1 vote
Julie Carber…, , Saint Cloud, FL
Fri Mar 18, 2011
Who really know what sales prices will do but as prices do come down more and more properties are available to rent so your return on investment will be less because there are more vacant rentals - right now there are a lot of vacant sales and high demand for rentals. I am renting properties just as fast as I get them.

Julie Carberry
Property Manager
(407) 709-9969
JulieRents@aol.com
Web Reference:  http://www.JulieRents.com
1 vote
Ray And Karen…, Agent, Mount Dora, FL
Fri Mar 18, 2011
Hi Rushkhan!

I love this question because it is what's on the mind of anyone who's got an interest in real estate.

The question is very MACRO meaning broad especially when asking about an area like Orlando.

Real Estate is actually very MICRO meaning you have to be specific down to the neighborhood and street in some cases.

Also we have to look at what you want to buy or sell. Is it a $25,000 Condo. or $2 million dollar lakefront in Winter Park.


Successful investors work backwards from their goals. For instance what kind of return short and / or long term would you like to get. How much time do you want to invest long and short term.

Start with your goals and find an area either geographic or property type that suits your interest.

I hope that gave you some important things to think about!

Best of luck to your!
1 vote
Tom Priester, Agent, Tequesta, FL
Fri Mar 18, 2011
Rushkhan,

Be careful what you read in the press as there is a shortage of quality investment properties in most areas of Florida. So much depends on your specific objectives but there are fantastic opportunities out there if an investor is able to act quickly. I am in Palm Beach County and do not service Orlando but can tell you that prices here in the highest quality developments are already on the rise. You might be interested in a short blog I did yesterday;

http://tompriester.wordpress.com/2011/03/16/investors-i-thin…

Two things that are big attractions in Florida are the weather and the beach so you might consider Palm Beach County. I have a fantastic opportunity here right now that you can pick up for probably around $116,000 that while the cash on cash returns may not be huge it is well poised for a very good return if holding for at least 4 to 5 years. Talk about a beautiful class a condo in the best location with extremely reasonable association fees; this one has it all! There are other opportunities ranging from $40,000 and up all over the place but again you must be able to act very quickly in most cases.

I work almost entirely as a buyers agent and would be honored to be on your interview list if you are interested in locating a true pro to make your investing dreams come true. I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.


Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference:  http://www.tompriester.com
1 vote
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Fri Mar 18, 2011
All depends on where you buy. If you are talking about poorly funded condo developments, then yes I would expect to see prices continue to drop. If you are talking about housing in the Lake Nona area, then I would expect to see prices significantly higher two years from today because as soon as the 2 new hospitals start to hire there will be thousands of new residents looking for housing.
0 votes
Veronica Dav…, Agent, Winter Park, FL
Fri Mar 18, 2011
Great question, however no one really knows what will happen in the next 2 years. What we do know is that foreclosures will be here and great buys will be out there. Perhaps what you should look at is the return on your investments and what you plan to do with that investment. Right now, most of the investors that I am working with are buying properties and renting them and they are seeing a good return.
If you find a property and the deal make sense to you jump on it. While you wait things are happening and by the time you recognize it, the value has already taken off. Don't wait if you're a cash buyer, there a lots of good buys out here so call your favourite realtor and let us help you.
0 votes
Spirit Messi…, Agent, Tucson, AZ
Fri Mar 18, 2011
Honestly, no one really knows what will happen for sure in the next 2 years, if you are a cash buyer here is a nuggest most agents will not share with you. Look up "Trustee Sale" , that is where investors are picking up properties for less than market value. Be warned, you will need to pay cash within 24 hrs and all investments carry risk(s). You may want to consider speaking with your CPA and or financial consultant before moving forward.

Best of luck.
Spirit
0 votes
Linda Jokben…, Agent, Orlando, FL
Fri Mar 18, 2011
Hello Rushkhan,

I work heavily the downtown condo market in Orlando as well as an area called Metrowest. Both areas have a big rental demand and what I've found, is that for those two areas, investors are putting in offers, many properties have multiple offers, and a lot of properties are selling near or above asking price. This in itself shows that these two areas have the real investors like you taking advantage of the great deals and great returns on their investments now. The key is to have a great realtor who knows the market you are considering that will be able to send you the best deals as they become available right away. I'd love to help.

Linda Jokbengboon, Realtor, Short Sale and Foreclosure Certified, ReMax Town Centre, LindaSellsOrlando@hotmail.com.
0 votes
Gerard Carney, Agent, Spring Hill, FL
Fri Mar 18, 2011
Orlando may dip slightly for a few more months, but the two year mark is not likely, You are looking at prices to rise and soon! Orlando is nice but there are better places to invest and cheaper homes to buy and make into rental homes, Inverness is ripe for buy and rent with a great profit in the process.
0 votes
Capital Inve…, Home Buyer, Orlando, FL
Fri Mar 18, 2011
I'm a fellow buyer, and I'll let you know I'm bias as I already own 3 low price condos, and is in contract for a 4th that is schedule to close next week.

My observation is current picking is really slim. This time last year, there were plenty of under $50k 2 br condos to choose from in Metrowest. Right now, you can count the numbers with 1 hand.

Like others have said, it depends on what segment of the market you're in. In my segment, I think we are at the tail end of supplies getting flushed out from the foreclosure system. The unit that I'm schedule to close next week resides in a community where there are 400 units, at one time, the majority of them were in foreclosure, now there are only around 70 left that are not paying the HOA fees. At this rate, I would think all foreclosed unit should be gone by middle of 2012 in this particular community, and prices in the complex should remain stable, if not going up a little bit by that time.
0 votes
Alan Martin, Agent, Orlando, FL
Fri Mar 18, 2011
Like all other mortals I cannot predict the future. However I am buying condos like no tomorrow. They are in a particular complex that I have confidence in. I will share that with you in an e mail to you personally. Please look out for it.. No guarentees but i am putting my money where my mouth is :)
0 votes
Phil Rotondo, Agent, Melbourne, FL
Fri Mar 18, 2011
Rushkhan;
Predictions are difficult....especially about the future.
Web Reference:  http://www.321property.com
0 votes
Carol Bauza, Agent, Orlando, FL
Fri Mar 18, 2011
Rushkhan,
I have investors that are holding out for lower prices, and also those that are consistently buying. It depends on what, where and how you are looking to buy.
Knowing what's going to happen for the next two years is like knowing what the stock market might do. We have a declining inventory, leaving mostly fixer uppers and short sales that take forever to close. Certain areas are "hotter" than others and of course price points also play a role.

Let me know if you are still interested in my help. I hadn't heard from you since my last email.
Thanks for posting on Trulia!

Carol

Carol Bauza
Keller Williams Advantage Realty
carol@carolshome.com
0 votes
Rick Aguirre, Agent, Orlando, FL
Fri Mar 18, 2011
Rushkhan,

I wish I had a crystal ball, but I do have stats and data and they indicate that as long as we have an over supply of properties we will experience pressure on the prices and values of properties in the near future.
Real Estate has cycles and we are in an historic low for prices.
I hope this helps.
Your Realtor Rick.
0 votes
Hein Karman, , Kissimmee, FL
Fri Mar 18, 2011
Dear Rushkan,

We are active in the Central Florida area and have seen a decline in values of about 1% a month over the last 5-6 months.
After January 2009 we saw prices go up (in some neighborhoods 50-80%) because of all the Investors buying a lot of investment propertys for around the $50.000 and renting them for around $800 per month. By the time those same properties were being sold for around $80,000, the rents went down because of the amount of rental properties available in those ares.
This and the overal economy made the prices go down since August 2010 and the expectations are that prices will continue to go down because of the Bank-owned, Foreclosures and upcoming Foreclosures.
Who knows what the near future will bring us?
It's a fact though that there are still opportunities for Investors, specially if you know where to look for them.
Rushkan, next to running a Remax office, I'm running a Foreclosure Wholesale company, closing over 100 properties with Investors like you, and If you feel like talking to me about the opportunities, please contact me at: hkarman@Remax.net.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more