I am a Canadian who 'd like to buy a property near Disney's for investment and vacation purposes. I can get 50% & finance 50%. Any?

Asked by Henryn, Kissimmee, FL Sun Jul 10, 2011

suggestion? Thanks! What considerations should I think of ? Insurance? Taxes? Area? Location?... Thanks.

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10
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Sun Jul 10, 2011
Hi Henryn,

You don't indicate either your budget or your prefered style of housing - condo, townhouse, or single family pool home. Let's look at each.

Regardless of the type of unit, success in the short term rental business depends on how much work the owner is willing to do marketing the property on the internet and taking direct bookings. If you are looking for truly turnkey in which you do no work at all, then your best bet is a single family pool home, with townhomes
a distant second, and condos not worth much, if any, consideration.

Condos - You are not going to find competitive finance terms on a condo. Of almost 1000 vacation condo sales int he past year, a grand total of 19 were purhcased with a new mortgage. You can probably find the odd hard money lender willing to finance 50 to 60% of the purchase for rates in excess of 10%.

Townhomes - You might be able to find normal lenders for townhomes. Depends on the location. Of almost 600 sold in the past year about 100 had finance.

Single Family - Shouldn't be a problem to find finance. Of almost 1400 sold in the past year almost 500 had finance.

What else should you think of? Goodness, many of us could write a book on that. Try VillaDirect.com, they have an excellent on line presentation on what's involved.

Good luck,
Mark LeMenager
Find your next house with the click of a mouse.
Search the MLS without obligation or registration from my website.
1 vote
Gerard Carney, Agent, Spring Hill, FL
Wed Jul 27, 2011
I can send you a full range of listings by email if you send me an email at: A1FloridaRealtor@aol.com

Also tell me what kind of investment return you are looking for!
0 votes
Michael Ange…, Agent, Cooper City, FL
Wed Jul 27, 2011
Yes you should be able to get 50%- 70% finance. Insurance, Taxes are normal considerations for mortgage, the subject property is close to Disney and good for short term rental. Give me a call for more information at 9543099837 or email RealEstate@MichaelWoodOnline.Com
0 votes
Idarousse Ch…, Agent, Celebration, FL
Sun Jul 10, 2011
Hello Henryn,
Most banks give loans to foreign nationals with 35% down, you might be able to get less down with RBC banks here in florida. Kissimmee, Davenport, and Clermont would be good areas for you too look at. If you have any questions feel free to call or email me.

best regards,

Idarousse Charif
icharif@remax.net
407-479-8601
0 votes
Ken Anderson, Agent, Orlando, FL
Sun Jul 10, 2011
Yes there are several menas I ahve gotten deals with my investors for what you are saying and even less outr of pocket. If you want some help I have several ideas and means for what you want. sens me an email and we can talk about it.

Ken Anderson
ApexOne Realty, Inc.
Cell: 321-246-3190
E-mail: ken@ken4u.com
http://www.apexonerealty.com
0 votes
Alan Martin, Agent, Orlando, FL
Sun Jul 10, 2011
yes financing is available for Canadians
I have helped many and can give you tesimonials
please e mail your phne number to alan@frontlinefloridarealty.com and I will call to help you.
0 votes
Imran Mohamed…, Agent, Kissimmee, FL
Sun Jul 10, 2011
Hello Henryn,

I do work closely with a number of banks that provide Foreign National Loans. If you are looking to rent it for a period and then use it fo a period during the year; then you would best get a property zoned for short term rental. I also have contacts with short term management companies that will help with getting it rented, looked after, etc.

Please visit my website for some useful information and also you can search for properties. I would certainly like the opportunity to work with you and commit to providing you outstanding service.

Have a wonderful day!

Imran Mohamed
Coldwell Banker Ackley Realty
3264 Greenwald Way
Kissimmee, FL 34741
Cell: 407-744-1827
Office: 407-846-4040 Ext 626
Fax: 407-846-3407 / 321-445-6067
Email: Imran@flhomeinone.com
Website: http://www.flhomeinone.com
Web Reference:  http://www.flhomeinone.com
0 votes
Tina Herrmann, Agent, Celebration, FL
Sun Jul 10, 2011
I have a lender who works with Canadians if you need some referrals. I need to know purpose of homes, you want to rent to vacationers or just for your visits, you will need a pool unless it is a condo. You will also need short term rental areas. Some places in Kissimmee are closer to Disney thus easier rentals. Taxes are more for vacation homes vs. primary residences, I could send a few agents to talk to for insurance. Insurance will also be needed for the home. Let me know how I can help find a home for you. I live in the area, so I could show some great homes. What is your price range?
0 votes
James Willia…, Agent, Kissimmee, FL
Sun Jul 10, 2011
Hi Henyrn,

Yes, it's a great time to buy. I recommend buying in Kissimmee, there are great investment opportunities here. There are nice properties close to the Parks that may interest you. And, in today's economy you can rent short or long term and get a great positive cash flow, an investors's goal! Contact me, and we can discuss your options as well as draw out a plan for your investment opportunities.

Thanks,

James Williams, III
RE/MAX Premier Properties
321-402-8047
jameswilliamsiii@me.com
0 votes
Bryant Tutas, Agent, Poinciana, FL
Sun Jul 10, 2011
Hi Henryn,

There are lots of good deals right now.

Checkout our investor site at http://CFLInvestmentHomes.com

We'd be happy to assist you with your search.
0 votes
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