Actually, this opportunity is a Condo/Hotel in Orlando.
These units come fully furnished with “elegant Tommy Bahama style” furniture.
The units are turn-key which means you only need to bring your clothes, beverages & food!
Everything is supplied - including linens, towels, wastepaper baskets - even a clock.
Ceramic tile floors in Kitchen and Baths
Granite Kitchen Countertops and Bathroom Vanities
Pre-Wired Cable TV and Wireless Hi-Speed Internet
Jacuzzi Roman Style Tub in Master Suite
Stove & Refrigerator
HD and Digital TV’s
Detailed Project Information:
Number of Buildings: 15
Number of Units: 1,875
Land size: 38 acres
Buildings 1 & 2 are Sold and under construction.
Building 3 is a Clubhouse Building featuring some retail stores.
Building 4 is the Spa Building which includes 18 condo units (already reserved).
Buildings 5 & 6 are fully reserved - these units will go to contract in August/September.
Buildings 6, 7 & 9 face the Disney fireworks and have some nice water views.
Located within 2 miles of the Disney World Entrance (Magic Kingdom, EPCOT and MGM).
Located within 5 miles of Sea World and Discovery Cove.
Located within 9 miles of Universal Studios and Islands of Adventure.
Located very close to the Orange County Convention Center which is the second largest convention center in the country with over 2.1 million sq. ft. of meeting space. More than 1.5 million people visit it annually.
Also located near the Osceola Convention Center, a $98.5 million project under development. It will have 500,000 sq.ft. of meeting and exhibit space and is scheduled to open in spring 2007.
Combined, the two convention centers will bring millions of people to the area, all of whom eventually have to sleep somewhere.
There are 37 golf courses within a 12 mile radius.
There are 9 shopping malls in the area (including one adjacent to this project).
Not to mention the restaurants…
A full service Spa
Six swimming pools
2 Lounges Bar & Pool Bar
Full 24 hour Concierge Service
24 hour Security
On-site housekeeping and maintenance
Check in & Check out Services
24 hour professional management
All Amenities and Features subject to change.
I know your next question will be about pricing so here goes:
The Building 7 prices start at:
2 bd/2 bath - 1,080 sq.ft. - $399K
3 bd/2 bath - 1,253 sq.ft. - $459K
3 bd/3 bath - 1,434 sq.ft. - $519K
3 bd/2 bath Penthouse - 1,253 sq.ft - $569K
3 bd/3 bath Penthouse - 1,434 sq.ft. - $639K
4 bd/4 bath Penthouse - 2,170 sq.ft. - $799K
The price increases $10,000 every 3rd floor as you go higher
The Monthly Maintenance Fee is approx $350 per month (to be confirmed)
I know your next question is - how much deposit do I need?
$5,000 to reserve your unit and lock-in your price.
It typically takes about 60 days to receive your contract.
After your 15 day review of the contract, you bring your deposit up to a total of 10%.
In approximately 60 days after that, another 10% is due.
Balance due at closing.
Investors are welcome - you can purchase with an LLC - contracts are assignable with developer’s approval.
Your $5,000 is fully refundable until contract is signed should you change your mind.
Another great benefit, you can charge your initial $5,000 deposit on a credit card - no out-of-pocket cash!
If you are looking for a vacation spot, this is a great opportunity. The developer has an agreement with a large property management firm. If you choose to rent your unit, you will work directly with the property manager. We were advised that last year, this rental management company had 33,000 over bookings which means not enough motel/hotels in the area for vacationers. Because of the Millions of Vacationers in Orlando, they have a 2 year waiting list for privately owned rentals with 2 or more bedrooms! Currently, the rental rates in the area start at $170 per day. The revenue split for condo/hotel owners is higher that what we see at most developments. Typically, the revenue is split 50-50. At this project, although a final decision has not been made, approx 66% is expected to go to the unit owner. Our target property will benefit in it’s early years from the overflow of hotel guests from other properties. This area is running approx 72% occupancy which is about 20% above the Orlando average and far higher than the Kissimmee average. Visitors who don’t want to stay right on Disney property will see this project as an excellent alternative. The resort is also likely to get the overflow when Disney’s hotels are full.
This is a wonderful family vacation resort area - If you choose the keep unit for your own personal use, you will always have a place to stay when visiting the area (just need to book your week/month in advance). Owners are not required to participate in the rental program. In fact, unlike most condo/hotels that you’ll find in other parts of the country, there are no living restrictions at this project. Use your condo/hotel unit one day, 10 days, or 365 days a year. If you want, you can make this Condo/Hotel your permanent home. Or you could become what Floridians call a “snowbird” and just use your Florida home during the winter months. As most of you know, condo/hotels are sold primarily as “real estate with a lifestyle” not as an investment. This project combines the top reasons for visiting and living in Orlando - shopping, attractions, and business - into one luxurious, comfortable, and family-fun atmosphere.
The condo/hotel concept is relatively new to the Orlando area but already it is receiving lots of attention from investors within the state of Florida, throughout the country and even internationally (especially among investors from Great Britain who find the property values particularly appealing). No doubt, as future developers break into the market, they will do so at higher and higher prices. Buyers who get in early will likely see their units appreciate. I should mention too, that housing prices in Orlando rose 19% in 2004 over 2003, another very positive indicator for this area. Bottom line, this property should do well for the investor.
The inventory changes daily so if you are interested, I suggest you reply by e-mail or call me to set up a phone meeting with our contact at this project. Because of the interest in this project, we anticipate this building to sell out with a few weeks. No cost to register and get website information. Just need your full name, address and phone number. Once you are registered, you can have a direct relationship with our contact at the project. By the way, did I mention that my contact’s father is one of the developers? One of our goals is to get as close to the developer as we can! The Developers have solid retail and housing development backgrounds in both Texas and Florida. This team has a hospitality background with more than 20 years developing and marketing resorts and hotels in the Orlando area. This team has the vision, the contacts and the know-how to make this property an a success.
Please advise ASAP if you want more information.