Orlando Condos Continue to Sell Well
Condos at Orlando’s Grand Reserve are selling at a rapid rate due to an innovative set of buyer incentives and turnkey ownership options being offered to investors, according to the Real Estate Investment Alliance.
“Someone forgot to tell these buyers that we may be in the midst of a housing bubble,” said Sunil Sharma, Principal Realtor at the Real Estate Investment Alliance. “Real estate investors have been lining up to purchase units with us at the Grand Reserve in Orlando. The condominium project is rapidly approaching sell out.”
A look at the incentive package offered to buyers helps explain the frenzied demand this project is enjoying.
* Two Years of Payment Incentives. Two years of Florida mortgage, maintenance and tax payments are credited to buyers as a cash credit. Combined with 5 years of assured rental payments, a one year home warranty, the projected cash flows for the project appear to be significantly cash flow positive over a five year horizon.
* 5 Years of Assured Rents. Rental income is assured for five years, so the check arrives in the mail at the start of the month, regardless of whether the unit is rented or the tenant is paying his rent.
* Low Down Payment. 5% down is all it takes to own this cash flow positive opportunity in Orlando. In addition, closing costs can be rolled into the loan allowing for a no money down purchase.
* A Double Dip Opportunity. By assuring investors of rental income for five years, as well as giving a cash incentive for two years of Florida mortgage loan, maintenance and taxes, investors have a rare double dip opportunity.
* Orlando’s Location & Economic Prospects. The Orlando housing market appears to have one of the brightest five year forecasts for population, income and economic growth in the country and is an international tourist mecca. The property is located in a very desirable area and is minutes to amenities, restaurants and entertainment.
* Low Risk, High Potential Reward. Because of the predictability of cash flow and substantial incentives, the risk is low. Limited out of pocket affords the opportunity for leverage and significant gains, creating a defined limited risk, potentially high reward opportunity.
