Please comment on this area: 324 TERRACE RIDGE CIR, Davenport, FL 33896 (Clermont: for sale, foreclosures)

[fobonmaster]

Please comment on this area: 324 TERRACE RIDGE CIR, Davenport, FL 33896

I want to buy this property any comment welcome thank you

[annerk]

Are you buying it to live in, as a long term rental, or as a short term rental? It would not be my choice as an area to live in.

If you are buying it as a rental, can you afford the full carrying cost (including all utilities, HOA dues, taxes, etc.) without a dime of rent coming in? If not, don't buy it--there is no guarantee of a single rental, and many places are renting as few as 10 weeks or less a year.

Are all of the units built and sold? What are the HOA financials like? How many foreclosures are there? If the units are complete and/or if there are more than a couple of foreclosures, I'd walk away.

[Broker Dave]

Nice area, 8 units are for sale 1 is priced lower than this one but doesn't appear to have furniture, needed if you are going short term rental. But there seems to be a problem with the windows in this community, check them and do a mold inspection.

Hope this helps,

[stevo75]

Originally Posted by annerk

Are you buying it to live in, as a long term rental, or as a short term rental? It would not be my choice as an area to live in.

If you are buying it as a rental, can you afford the full carrying cost (including all utilities, HOA dues, taxes, etc.) without a dime of rent coming in? If not, don't buy it--there is no guarantee of a single rental, and many places are renting as few as 10 weeks or less a year.

Are all of the units built and sold? What are the HOA financials like? How many foreclosures are there? If the units are complete and/or if there are more than a couple of foreclosures, I'd walk away.

How are you claiming many are renting for 10 weeks or less, I'm looking at a rental in the Vacation area (Clermont, Davenport, Kissimee and etc.)and most rentals are booked solid with a few weeks in between till April school vacation and then they continue at the end of summer. I only ask because I want to know for booking?

[annerk]

Originally Posted by stevo75

How are you claiming many are renting for 10 weeks or less, I'm looking at a rental in the Vacation area (Clermont, Davenport, Kissimee and etc.)and most rentals are booked solid with a few weeks in between till April school vacation and then they continue at the end of summer. I only ask because I want to know for booking?

Because you are looking at a tiny fraction of them and not taking into consideration that many of those weeks are being used by the owners. For everyone that is "booked solid" (again, not taking owner occupancy into consideration) I can show you five that have almost no bookings.

[stevo75]

Originally Posted by annerk

Because you are looking at a tiny fraction of them and not taking into consideration that many of those weeks are being used by the owners. For everyone that is "booked solid" (again, not taking owner occupancy into consideration) I can show you five that have almost no bookings.

Gotcha! If you don't mind could you send me some links in my inbox? Thanks.

[a.wood]

If you have not already, buy it. The prices are creeping up though only slowly. Its a busy place for rentals short term and long. There's is PMC on site. Check it out. The windows are poor, but at about 50% below the original price you can afford to change them, may be, also get a mold test. I have seen others do this and had dryrite in at the builders cost to correct things before they have purchased.

[RazorRob305]

That's a great area to live in ...i used to drop off a co-worker in that exact area last year....it was really nice