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Why Orlando? With 55 million tourists expected to visit the Orlando/Disney area, renting out your property as an alternative to expensive hotels has become a booming business. The ability to cover some or all of your second home costs, use it when you want, and capitalize on the rapidly increasing equity in your second home. Add to this the numerous tax benefits, and wonderful weather, and central Florida is the only choice. Here is more information on Why Florida? How much deposit do I require to place a contract on a property? In most cases, a “good faith deposit” of only $5,000 is required with your contract for purchase. Depending on the builder, you will possibly be required to provide the balance of your 10% deposit within a specified time period (usually 30 to 45 days). If for some reason you are not approved for financing, all monies will be refunded. What is “Short Term Rental” and are there any restrictions in the Orlando area? Short Term Rental is defined as renting a home for a period less than 1 month. The county property appraisers’ office controls this special zoning. The four counties that make up the majority of the Orlando area each have different rules pertaining to the renting of holiday/vacation homes. It is therefore essential to obtain correct professional advice and guidance as to the suitability of a particular community for short-term rentals. We will ensure that the property you select is completely free from any restrictions and is legally zoned for short-term rental. Property Management Property management has long been the Achilles heel of any second home purchase. Who do you trust to take care of such a sizeable asset? At the office of MBT Homes we do not have a business relationship with any one management company. Many of the Estate Agents in the area work for/with a particular company, so they have a vested interest in "steering" you to their own management company. We think that to properly serve our buyers we should be able to recommend qualified companies on their merit, not their business affiliations. As such, when your house is closer to completion, we will give you a selection of current quality companies to chose from. I have worked with management companies for many years, as a sub-contractor, and as a member of management, and know all to well the pitfalls that can occur. My family and I have owned properties in Florida since 1989, and have first hand knowledge of what makes a good management company. I will help you place your holiday home in good hands, and as a bonus, with the purchase of a home with us, I will pay for a Virtual Tour of your property and a "mini website" that will enable you to market your own home with little effort, and generate income back home. You will be amazed how many friends and co-workers will stay year after year in your property, generating more income for you. How many weeks do I need to rent out my home in order to cover all the running costs?
What are the tax advantages of owning a property in Florida? This is dependent on individual circumstances. There are some very positive tax advantages to these short-term rental homes, especially if you rent your home when not in use. We will be glad to discuss these advantages with you, but would suggest that you consult with a tax/accounting professional to determine the full benefits to you.
Is purchasing a property in Orlando a sound investment? Providing that you purchase the correct type of property in a prime location (especially the Disney resort area) that is suitable for short-term rentals, property in Orlando is one of the best property oriented investments currently available anywhere in the world. According to the Orlando Sentinel newspaper, in a 2001 study, property in this area appreciated on average 19.4% over a 12-month period.
If you have any further questions, or require additional information on any of the above subjects, please feel free to contact us. We look forward to hearing from you. Marcus TruettLicensed Real Estate Sales Associate Marcus B Truett Licensed Real Estate Broker Cell: 1-407-908-2326 Toll Free: 1-866-658-0801
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A Licensed Agent of MBT Homes Real Estate, Kissimmee, Florida, The information that is indicated within is deemed to be reliable; however, no guarantee is warranted. The laws governing Florida prohibit such representation. Note: Florida Real Estate law requires that we make full disclosure. At this time, the Office of MBT Homes has no representation to you as a prospective buyer; however, our office prefers to work as a single agent for the buyer (at no cost to the buyer). A final decision can be made at the time of our first encounter regarding agency. MBT Homes, 1910 Greenside Dr, Kissimmee Fl 34746 (407) 908-2326 marcus@orlandovacationrealestate.com DISCLAIMER
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