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Old 08-01-2011, 04:52 PM
 
8 posts, read 6,705 times
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I am looking to buy a small town house for Long Term, investment in Jesup Reserve in Wintersprings, FL, I just wanted to know if that area considered good I visited the area its nice but most of the shops were closed, and they have a huge plaza across the street and I see behind the town house there is a trailer park, so thats what making me confuse , Its a new home in the market since 9months asking price is like $140K.

I just wanted to know your opinions as I live in NY and dont really know much about Wintersprings,FL. So please help me here.

Realtor told me that I can rent that out for like $1K to $1200 per month EASY,I dont know how true is that, also I wanted to know if I buy that house what offer I should give her.

I like the area but I dont know for investment point of view if thats a smart investment or not, please advise.
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Old 08-01-2011, 10:04 PM
 
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Is there any one who can give some advise.
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Old 08-01-2011, 11:26 PM
 
Location: Celebration wannabe...
1,000 posts, read 3,139,052 times
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Winter Springs is a nice area...it's just a bit far from things if you like doing all the tourist stuff on the Disney side like we do...I can't really give any advice on the market as we rent but if it's a decent size (say 1200 square feet or up), I wouldn't think you'd have a problem renting it out for $1,000 to $1,200.
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Old 08-02-2011, 07:32 AM
 
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Thanks for your response. yea it's about 1200 SQFT 2 Bedroom, 2.5 Bath.
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Old 08-04-2011, 05:43 PM
 
Location: Orlando FL
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140K is too expensive for that size property for an investment. Those townhomes are very nice and when the economy comes back and the shoping center across the street fills up and the master plan around that area gets going again it will be a great area....but until then, don't pay a premium for it unless you are going to live in it and enjoy the upgrades and amenities of that community.

You can get larger properties in area's closer to already developed area's for less. Check out Windermere/Winter Garden, Waterford Lakes/Cypress Springs area, Smaller condo's downtown, MAYBE find something around Dr. Phillips, and for a bit more you may even be able to get a great deal on a townhome in the downtown area.
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Old 08-04-2011, 06:58 PM
 
Location: Orlando
8,264 posts, read 12,080,499 times
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I agree 140k is too much for a townhome with HOA's. Mind you that isn't enough for one in Dr. Phillips but that isa different area. Windermere does have a few under 130k but they will probably rent for more and save you 10-15k.

I think the rules you are using for an investment are simply not the best. If you want to avoid maintenance and maximize your return then I'd check out some oil investments. they will give a base 15% and can exceed 50% with no maintenance. That will far exceed what you do in RE.... especially with the prices and rents you are juggling.
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