Home Buying in Lake Nona>Question Details

valimo, Home Buyer in Orlando, FL

VillageWalk vs Laureate Park and Townhouse vs Single Family Home

Asked by valimo, Orlando, FL Wed Jan 16, 2013

Hi,
I am an overseas investor looking to invest in a property in the Lake Nona area. My intention is to let the property out on long term rental so I can have some cash flow coming from the property and be patient for the property appreciation to happen. I have been researching the Lake Nona area online for some time and from what I have read makes be lean towards two communities - VillageWalk and Laureate Park. I do not know which community would be a better investment for me. Also, there are various choices for home in both these communities and I am also not sure if the townhouse or single family home is a better investment in terms of total return over the next few years. I would appreciate any advise in this matter to help me make my decision. My budget is under 300k
Thanks & Regards

Help the community by answering this question:

Answers

10
Mark LeMenager’s answer
There is a large amount of misinformation here. Rental of single family homes in Laureate Park is not allowed for the first year after closing. There after any rental must be approved by the HOA before the renter can move in and it is a somewhat onerous process. The developer does not want Laureate Park to be a rental community. In addition to the restrictions mentioned, there are also rules in the HOA as to how quickly you need to get window treatments put up so that you property does not look empty.

Personally I think the best investment in the area would be a single family home with a garage apartment over a 3 car garage in Laureate Park, You would need to factor in no income on the house the first year. This is a proven rental model and you could pick up such a property around $400,000 and the exact same thing in either Celebration or Baldwin Park costs $550,000 to $600,000 today. In 4 or 5 years all three communities will be priced the same and it won't be because Celebration and Baldwin Park come down in price.
0 votes Thank Flag Link Sun Jan 20, 2013
I rent in Eagle Creek. It is nice and security is like Fort Knox but the HOA is a pain in the butterball about everything. Almost to the point of harassment. Also the HOA is expensive. I have not been harassed but I hear it from all the residents that I know. There are several foreclosed/abandoned homes in the older area. Great onvestment there.
0 votes Thank Flag Link Fri Jan 18, 2013
Hello,

I think Village Walk and also Eagle Creek is a gated golf course community would also be a great investment. I would love to help you find a great investment in the Nona area. I have over 12 years of new home and general real estate experience.

I can be reached at 4077010547. I look forward to hearing from you.

Warm regards,

Lin Joy Jesse
Charles Rutenberg Realty
0 votes Thank Flag Link Wed Jan 16, 2013
Laureate Park HOA is not allowing rentals for the first year. I have brought a few investors through there only to find this out. Village Walk is a great community for rentals, the rents are some of the highest in the area. MVP Florida Real Estate, located in Lake Nona, specializes in investment sales and property management. I would be more then happy to send you an income and expense analysis on some properties in the area. Contact me through my profile and we can discuss your options. I also have access to foreign national financing. Look forward to speaking with you.
Web Reference: http://www.mvpfla.com
0 votes Thank Flag Link Wed Jan 16, 2013
Hello: Knowing the Lake Nona area as I do Laureate Park would be my choice due to the fact that it is right in middle of Millenia Malll style outdoor shopping center, hospitals, teaching and reseach facilities. I would lean toward single family as it gives you a greater pool of clients. The key is a good property manager. I can send you rental analysis on any property to help you see your return. I hope this helps. Email me if you would like further assistance. Do you Skype? Dave Lowe, Broker. Davelowe@Orlandohomestore.com
0 votes Thank Flag Link Wed Jan 16, 2013
Valimo,

New homes take time to appreciate, because you are paying top price. Both communities will be very attractive and there is little to differentiate between them except your own personal taste.

Townhouses require less maintenance from the owner. That's their advantage.
I personally don't think the rent is much higher for a single family home with the same accommodation as a townhouse, unless it has a private pool

In the end, buy what you like best.
0 votes Thank Flag Link Wed Jan 16, 2013
Hi There:

I have sold several properties in Lake Nona, just closing another deal this coming Friday. First let me start by saying that in my opinion for investment purposes Lake Nona is the place to be – Good Choise!!

There are a few communities that are greatly positioned for investment; I do not see them in your list. If you would be interested, I can email you the name of those couple of communities.

In my opinion Single family homes tend to have a better outlook in Lake Nona. Only because you would be looking at professionals moving into Lake Nona due to their jobs and families usually prefer a single family home. A townhome might be faster to rent cause it would be more affordable than a single family home but in terms are appreciation I believe a single family home for this particular area might be the better choice. In LAUREATE PARK you would be able find a single family home for $300K in Village Park is a little bit more expensive.

Check out the link below for a list of Lake Nona homes:

http://abidhendi.orlandopropertiesonline.com/listings/areas/…


By the way, if you would also like to conduct your own search from a single source that has the entire inventory of homes for sale in Central Florida, you are more than welcome to use our website: http://abidhendi.orlandopropertiesonline.com. This website basically contains the same data base that all the agents use to search for homes.

Have a fantastic day & I look forward to hearing from you.


Abraham Bidhendi - Top Producer Realtor® with over 25 years of experience
Awarded as Exit’s TOP Buyer side Transactions for 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 Or abidhendi@ORLANDOPROPERTIESONLINE.COM
Website: http://reosofflorida.mfr.mlxchange.com/ Or 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 Wed Jan 16, 2013
Valimo,

Congratulations on seeing the opportunities in our housing market at this time. Researching and considering your options before you jump into the investment property arena is quite wise.

To answer the question about which type property is going to bring the best return, is not that simple. Each type property will contain different issues in taxes, maintenance and the type of renter you will receive interest from. These differences can highly affect the return on your investment.

I have found that in general single family properties do better than townhouses but being an overseas investor as means you will not be local to deal with maintenance issues or management of the property. That would require the assistance of a manager which is an additional cost to your investment.

I would love to try to help you more with your questions and guide you in this process. Please email me at THOYT@prutropical.com or review my profile here on Trulia. I currently have a single family home that might work for you in another area of Orlando.

Very Respectfully,
Tracy Hoyt
Realtor
Prudential Tropical Realty

I
0 votes Thank Flag Link Wed Jan 16, 2013
Thanks for the questions, but a coulple of a moot points.

The developer has impossed restrictions on the number of units that can be sold to investors in Laureate Park. Ashton Woods was allowed to sell only ten of their duplexes to invesors and those were gone six months ago. Minto just opened last Friday and they too can sell ten of their townhomes to investors and one was gone opening day and the rest will go fast.

You can not buy a single family house in either for under $300,000 any more. The prices you see on line from the builders do not include lot premiums or any upgrades. Lot premiums can reach $40,000. Maybe if you get real lucky an Oakmont will show up for resale under $300k in VillageWalk.

With the budget you have in mind it is either a one or two story duplex in VillageWalk or a Minto Townhome while they last in Laureate Park.

If you want to work with the Lake Nona expert, I'd be happy to hear from you.
0 votes Thank Flag Link Wed Jan 16, 2013
I can assist. Please call me 407 908 0594
Wendy Karaffa
IPG Realty
0 votes Thank Flag Link Wed Jan 16, 2013
I have been in Laureate Park for 2 years in a town home. I enjoy living here due to proximity to work, upscale homes, clean neighborhood, close to Publix, close to freeways, plenty of trails and walkways, many activities. Over hyped community. Bogus prices, builder undercutting resale, Shoddy construction, aggressive HOA, too many dogs, narrow streets with unruly traffic by construction crew, unplanned vacant lots, Ill designed alley ways, too many cars parked in the street because owners have used the garage for other purposes, poorly lit park areas, monopoly by GE appliances, ...
Flag Fri Apr 3, 2015
why are you all railroading buyers away from Town homes? I live in Laureate Park and many people actually prefer town homes because of the convenience, easier maintenance, and better lay outs! I have a beautiful Hopkins town home to sell-check it out realtors!
Flag Fri Mar 27, 2015
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer