universal Resorts place (Orlando: sales, foreclosures, leasing)

[lapacella]

hello,
does anyone know why the townhouses are so inexpensive in this developement, Any info would be great thank you

[Rangemoor]

I viewed a property here for a UK client, about 6 months ago. It was a bargain at around $55,000 for 5 bedrooms and previously sold in the mid $200,00's. However, there are lots of empty properties here and the site looks very neglected - damaged homes, full of dead plants etc. I don't know whether things have picked up since but the 'resort' needs big investment. I personally disregarded it. It wouldn't be a good rental for the vacation market. Your guests would undoubtedly complain. I think it's mainly residential now.

The weblink http://www.universalresortskissimmee.com (http://www.universalresortskissimmee.com/ - broken link) is no longer used for on-line resort reservations ( I explored this at the time I viewed last October). It redirects you to a hotel website which does not have these properties - understandably.

At the time I viewed there was an additional fee to join the HOA. I think it was $1,000 and you had to be approved first.

Regards
Helen
Property Locator Disney Orlando Area

[khayker]

Hi, I stayed here with my family the first time I visited Florida around ten years ago. It was called Victoria Landings then but I believe the homes have been subject to some kind of reposession order since then as one company bought up the whole place. If it gets up and running again as a rental area, it should be nice as it was when we stayed. The townhomes, especially the 5 beds are spacious and its in a nice quiet area. Best of luck, I believe they're down to even less than $55,000 now.

[Vellamint]

Hi. I saw these online also. How do you think they would be for someone looking for a vacation "home" not a vacation "rental" home.....

[annerk]

Think about it.

The place has a ton of foreclosures. The costs to maintain it are going to be the same, so someone needs to pick up the tab--you'll see a lot of special assessments as a result.

With that many empty units, it's prime for burglaries.

And do you really want to invest in a place that's not being maintained?

Sometimes what looks like a good deal definitely isn't when you really peel back the layers.

[Rangemoor]

Originally Posted by annerk

Think about it.

The place has a ton of foreclosures. The costs to maintain it are going to be the same, so someone needs to pick up the tab--you'll see a lot of special assessments as a result.

With that many empty units, it's prime for burglaries.

And do you really want to invest in a place that's not being maintained?

Sometimes what looks like a good deal definitely isn't when you really peel back the layers.

I agree. I thought of buying myself to see how the market would pick up The idea was to rent it out in the medium term. After viewing I then cosidered what sort of tennants would want to live in a place like that - probably not the sort that I would want, with a risk of not paying rent etc. There are just so many issues there. I wouldn't feel safe with using it as a personal vacation home for the reasons stated above and yes the prices have come down way below $50,000 in some cases but it would not tempt me. There are many bargains out there at the moment and you don't have to pay an application fee of $1200 (I thought it was $1000). You need to consider your return on investment and this could potentially fall rather flat - it's a buyers market so have a look around and good luck!

Regards
Helen
Property Locator Disney Orlando Area

[CarmenP]

Originally Posted by lapacella

hello,
does anyone know why the townhouses are so inexpensive in this developement, Any info would be great thank you

Are you trying to buy? Because if you are, don't even bother. There is a big scam going on in Unversal Resorts development. The Homeowners Association turns everyone down for no reason(s) and then the buy the property under International Sales and Leasing. How far did you get in the process?

[Mike1023]

Universal resorts pl aka international sales and marketing llc also victoria landing is a scam the units are not there's half of them the owe back Tass also the maintenance guys steal stuff out of people homes. The don't give back security deposits. The place is a joke they use different names to talk to the tenants
Stay away unless you want to live in roach infested house for 1200 to 1500 a month your ac breaks the steal parts from off your neighbors ac half of the properties were in foreclosure out of maryland that's what happened to unit 1057 the still use that address as there business address sued so many times in court that they don't even show up

[Rogue3799]

This place is a scam and infested with roaches. Even renting from them they try and scam you. They are from England who own it and they need to be stopped. Do not even think about owning.