foreclosures/living in kissimmee (Orlando: for sale, real estate, apartment)

[llrain73]

What's the deal with you guys down there in Orlando Kissimmee area.
seeing these house prices and the location they are in makes me want to just buy one of em, pack up and leave...Im sure i can get some kind of customer service job or something to get by for a while until I can find a real job in a couple of years when the jobs might be more available....
I mean a 2100 sq ft house for 80,000...thats a 600.00 base mortgage...
MY rent up here for a 1000 sq ft APARTMENT nevermind a single family,
is 1100.00.....sheesh
I could even get by making 9.00/hr down there...
or I could do an investment property.....or maybe stay here and just buy my retirement home now
Is it that bad down there? The market?

County Fannie Mae REO Homes For Sale - HomePath.com

[annerk]

You won't make $9/hour in a customer service job, you'll make $7.50. The chances of finding f/t work in the service industry is slim to none.

And just how do you think you'll get a mortgage with a career change?

The taxes will be close to $300 a month. Then you'll have property insurance, plan on at least $100 a month. So that's $1000 a month, before HOA fees.

Even if you found a f/t job at $9/hour, your pretax income is $1560/month. After taxes you're looking at maybe $1250 a month. Do you really think anyone is giving you a mortgage?

If you want to buy it as an investment home, plan on 20-25% down. And then they will also factor in your rent where you are now to qualify you. And unless you've got a signed lease from a long-term renter, they aren't counting any rental income.

Bottom line, you don't qualify.

[llrain73]

wow...can this guy get any more negative....
you have no idea what I do now.
Being in customer service for a long time I know that attritiion is crazy whereever you work.
Jobs are always around.
Just down there Bright House Networks had 2 job posting for several CSR's
within 4 months of eachother...Oh and by the way, they were hiring at 10.00 an hour...

If I used it as an investment property..who says i would rent it?
who says I would do it alone?
I have the 20-25% down cause I prob make alot more that you do down there cause the jobs dont pay squat...maybe thats why you are whining and being so negative...I know what i need to put down,,,I didnt ask you for that..I simply asked whats going on with the cheap azz prices down there..I have a great job, pays well and get to see the seasons change here in beautiful New England...
I think i just found my retirement home, so excuse me while I mute you,
You are a very negative poster..as I was reading other posts you had nothing but negative repsonses to the English couple with kids who want to move over with their family visas...

[annerk]

Originally Posted by llrain73

wow...can this guy get any more negative....
you have no idea what I do now.
Being in customer service for a long time I know that attritiion is crazy whereever you work.
Jobs are always around.
Just down there Bright House Networks had 2 job posting for several CSR's
within 4 months of eachother...Oh and by the way, they were hiring at 10.00 an hour...

You still wouldn't qualify for a mortgage. And you'd be up against 300 others for those jobs. If you don't speak Spanish, you don't stand a chance.

If I used it as an investment property..who says i would rent it?
who says I would do it alone?
I have the 20-25% down cause I prob make alot more that you do down there cause the jobs dont pay squat...

Highly doubtful Service jobs pay squat, I don't work in that industry. I have a very good job that pays very well.

maybe thats why you are whining and being so negative...I know what i need to put down,,,I didnt ask you for that..I simply asked whats going on with the cheap azz prices down there..I have a great job, pays well and get to see the seasons change here in beautiful New England...
I think i just found my retirement home, so excuse me while I mute you,
You are a very negative poster..as I was reading other posts you had nothing but negative repsonses to the English couple with kids who want to move over with their family visas...

Not a negative poster, a realist. Why are a lot of those houses cheap? In some cases because they need a lot of work, in others because theya re in a crappy area. You are the one implying that everyone around here is a dumb hick, you couldn't be more wrong. If you want to retire in a crappy neighborhood, have fun with that.

[JustinsMama]

Okay, not to get into a p%ssing contest but from the looks of this post (where annerk was actually the first person to answer you in it and she sounded pretty helpful) it doesn't sound like you can get just any job like that (insert snapping fingers here)...

http://www.city-data.com/forum/work-...-mamagers.html

[Robineli]

Originally Posted by llrain73

wow...can this guy get any more negative....
you have no idea what I do now.
Being in customer service for a long time I know that attritiion is crazy whereever you work.
Jobs are always around.
Just down there Bright House Networks had 2 job posting for several CSR's
within 4 months of eachother...Oh and by the way, they were hiring at 10.00 an hour...

If I used it as an investment property..who says i would rent it?
who says I would do it alone?
I have the 20-25% down cause I prob make alot more that you do down there cause the jobs dont pay squat...maybe thats why you are whining and being so negative...I know what i need to put down,,,I didnt ask you for that..I simply asked whats going on with the cheap azz prices down there..I have a great job, pays well and get to see the seasons change here in beautiful New England...
I think i just found my retirement home, so excuse me while I mute you,
You are a very negative poster..as I was reading other posts you had nothing but negative repsonses to the English couple with kids who want to move over with their family visas...

So you're looking to retire in Kissimmee? How many years away from retirement are you?

Kissimmee is a great place for people who aren't looking for fancy landscaping, or snobby white collar, overeducated professionals. It's very family oriented, with many generations living within walking distance. Good salt of the earth people live there and work their butts off to maintain their quality of life. My father and grandfather built several houses in the area in the 70's - very functional no-frills box houses.

People that live in Central Florida are quite familiar with Kissimmee and will give you advice that will provide you with the most positive of outcomes. Sometimes that advice may not be what you want to hear, but as an adult, you already know you have free will and were just bouncing ideas off people, otherwise you would've just moved forward with your plan.

Visit the area, make appointments with a real estate agent, pre-qualify for a mortgage. It'll be the best move you make.

[deafcharger]

Originally Posted by annerk

You won't make $9/hour in a customer service job, you'll make $7.50. The chances of finding f/t work in the service industry is slim to none.

And just how do you think you'll get a mortgage with a career change?

The taxes will be close to $300 a month. Then you'll have property insurance, plan on at least $100 a month. So that's $1000 a month, before HOA fees.

Even if you found a f/t job at $9/hour, your pretax income is $1560/month. After taxes you're looking at maybe $1250 a month. Do you really think anyone is giving you a mortgage?

If you want to buy it as an investment home, plan on 20-25% down. And then they will also factor in your rent where you are now to qualify you. And unless you've got a signed lease from a long-term renter, they aren't counting any rental income.

Bottom line, you don't qualify.

I believe property taxes will drop next year.

Insurance usually .5% of purchase price but that's just one of many factors. For $80K house, 100 a month for insurance seems high unless house's condition is bad like a leaky roof or very close to lake.

[Parrotrosie]

Additionally, the 'price' is not the 'price'. We looked at a few foreclosures and short sales. The listing price was to get you out to look at the property, and then the agent (after doing his research on the homes we had chosen to look at) had gotten the price of what the bank was really willing to accept, which is often higher than the listed price.

some of these homes had been sitting for months if not a year or more, had dead lawns, shrubs and trees. they had ALL of the lighting fixtures and appliances removed. Several of the houses were beaten to death and a few had real damage. People get mad when the banks take their homes back.

So it may cost you many thousands of dollars just to get up to the HOA standards and to make the home habitable again, if not tens of thousands by the time all is said and done.

[**NoodLes**]

I say go for it. Many people here in Kissimmee are in the service industry and make anywhere from $12-$15/hr and can't even speak English properly. Most people who live in Kissimmee work in Orlando and commute here, about 20 minutes drive. If you can put a decent down payment on a house and have $ in the bank, you WILL get a loan. I know valets making better $ than people with degrees and bartenders making alot more as well. If you don't mind the work there's plenty of jobs. As for the poster saying $300/month for taxes and $100 for insurance is crazy. That's absurd. If you buy an $80,000 property your taxes in Osceola would be about $1500 year and insurance about $60 month, depending on credit, of course. Realtors and lenders KNOW this area is saturated with hospitality/service jobs. And if you got $ and decent credit your like a dream come true to the lenders and realtors. The only thing to look out for is HOA fees.

[thepinksquid]

Originally Posted by annerk

And then they will also factor in your rent where you are now to qualify you. And unless you've got a signed lease from a long-term renter, they aren't counting any rental income.

Originally Posted by llrain73

If I used it as an investment property..who says i would rent it?
who says I would do it alone?

annerk isn't talking about renting out the property you'd be purchasing; s/he's talking about using your PREVIOUS rent from your prior living arrangement to determine your loan eligibility for the mortgage. As in, looking at your rental history with your current income/rent amount and how timely you've been on payments, etc.