Hello All,

My name is Narin and I am new to, not only this forum, but international investment. On and off since 2001, I have been thinking about buying a BTL villa in Davenport/Orlando. Since we go every year, I thought that this would make a nice 'personal investment' where, as long as I can break even, I am not too bothered about yields above this. With a young family, I thought this would be ideal for annual holidays.

I knew it was a buyers market out there, but having gone through some of the posts it look like: 1. Properties are still over valued 2. Running costs are going up and rentals are harder to come by....

I was considering a 4 bed villa on Highlands Reserve Golf Course. They range from $350K-400K, but I was thinking that I would go in hard and look to take round 20% off these prices for starters....

Does anyone have experience of the current market? Can I make a go of this as a 'personal investment'???

If not, I will hold off and invest the money for a while and make the best return I can. Any recommendation on good growth markets for a virgin overseas investor.

Any advice will be gladly received.

Is this a wind up?

Uh, no....This is a serious question. It may not be a great investment decision (I know), but I think I have stated my reasons.

Any constructive input would be appreciated.

florida is crashing badly.... if your dipping your toes offer VERY low. Also search this forum for florida, there was a recent post about US estate agents, and the massive charges they make. Ask EAs how much they will make out of any deal, if they wont tell you run a mile...

OK for whats its worth I think long term there are still some good investments in Florida but I would look towards maybe the Clearwater, Tampa area and south once it drops and stabalizes (say 6 months out maybe). Places such as Tarpon Springs are extremely nice and you can still pick up a nice historic house in a nice area for $230-$250. Jacksonville, St Augustine area also still seems to be good and lots of businesses are locating there bring wealth and jobs. The university is also expanding in St Augustine. Again I would go for a historic house in these areas, Orlando doesn't seem so nice to me either to live in or as any kind of investment. As a holiday home I think you are better buying a smaller place in a nicer location. At the end of the day in FL you really need to be on or very near the beach.

If it were me I would be looking a little further north to the GA or SC coasts. Although places are already going up there and I believe GA are about to remove state tax on over 65s.

For full disclosure I will tell you I have a house in Atlanta and am considering something in Charlston. Again an old house on a cobblestone street or similar in Charleston or Savanah is always going to be desirable.

(desperation in California // is it it just clever lying?):

Is this happening in Florida also??

Just The Facts, Girlfriend
by Lee Wheeler
California homebubblers are blistering the airwaves with a new ad campaign designed to suck some folks into buying the dip…except there hasn’t been a dip yet.

The ad is formatted as a faux radio call-in show.

Sample:

Caller: “I’ll never be able to afford a bigger home closer to work!! What can I do??”

Faux Host: “Think again, girlfriend. California homes haven’t been this affordable in YEARS! Interest rates have NEVER been lower!! Stop throwing away money on rent when you can start building equity NOW! It’s a buyer’s market and who knows how long it will last.”

Yes, the ad actually says “think again, girlfriend”. I didn’t make that up.

Then the listener is directed to a website: http://www.homeownershipfacts.org .

It is referred to as “facts about housing without the spin.” Or as objective as any website designed and written by the California Building Industry Association can be.

This campaign has desperation written all over it.

...more:
http://wallstreetexaminer.com/blogs/wheeler/?p=166

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Welcome Diablo

I suspect you are the one best placed to decipher the opportunity and timing given you regularly visit the area.

I have heard prices have tumbled. Waiting for further drops can be a mugs game, this could be the bottom. Timing markets is virtually impossible in reality.
In the end your own gut feel is just as valid as that of a seasoned economist. I recall looking at property on the Thames in 2005 when the market ground to halt. At the time it felt like prices would fall, wrong....


You ask about other opportunities, well it may interest you to know that a significant number of Americans are investing in the vast Government backed luxury site called Port Lixus in Morocco. Ive just invested there in a Condo hotel - 5* ocean front (and I do mean ocean front), on a vast 5* golf and beach playground. Hassle free hands off and cheap (£70000 for an oceanfront unit - remember you share in the hotels total rentals, so not a lot of point buying a bigger unit unless you want personal use). £29000 payable during the 3 yr build. You can sell the contract on very easily. 2 - 3 hour flight time. I doubt you will have seen a single self contained resort on this scale before. Remember its golf and beach - a heady and rare comBination this close to the UK.

My understanding of the rental pool on Port Lixus (although at this stage it is a 'suggestion' as nothing set down officially yet) and that is that if you buy a studio you get a share of the total studio rentals, not a share of the rentals of one beds also. If you buy a three bed, you enter into the pool for studio and two lots of one bed pooled rentals (because the three bed can be subdivided), thereby increasing your return in proportion to investment/rental.