Talk of The Villages Florida - TV Real Estate Investment Info and Opinions

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Quote:

Originally Posted by VILLAGERBB (Post 2283165)

justjim....Can you recommend a couple of senior apartments outside of TV....I am tired of home maintenance...thank you!
If you know of a rental in TV for around $1500 I will also be interested.

The “wilds” apartments in wildwood are brand new. Right next to TV ( Brownwood). $1,600.

Quote:

Originally Posted by retiredguy123 (Post 2283274)

See Post No. 42. On a new house, the buyer doesn't pay any closing costs, unless they want an owner's title insurance policy. Even on a pre-owned house, the owner's title insurance policy is optional and is paid for by the buyer, not the seller.

Went back to the closing statements of both of the patio villas the I bought and sold within the last three years and the seller paid for title insurance.

Quote:

Originally Posted by melpetezrinski (Post 2283302)

Went back to the closing statements of both of the patio villas the I bought and sold within the last three years and the seller paid for title insurance.

If you get a mortgage, the bank requires a title insurance policy to protect their interest. But, the buyer does not need to buy a title insurance policy. It is optional. As a buyer, I have always purchased a title insurance policy to protect my interest in the property. I always paid for it. You can negotiate anything with the seller, but in Florida, the title insurance is an optional purchase. Some states have different rules. The seller always pays for a title search to ensure they are conveying a clear title. This is not the same thing as a title insurance policy. A title insurance policy lasts forever and guarantees that the property cannot be seized by someone claiming to own the property. As a seller, I would never agree to pay for the buyer's title insurance policy because it does nothing to protect me. Also, the buyer can buy the insurance policy from any company they choose. They don't even need to buy it at the closing.

Quote:

Originally Posted by BrianL99 (Post 2283202)

As is the case with any business (& owning investment real estate is a business), supply & demand is the driving factor. Personally, I think the supply in TV is saturated. What's worse, is it's saturated by amateur real estate owners, who think buying property in TV is an easy "get rich quick scheme".

In the real estate business, your true profit is made when you purchase, not when you sell. If you buy right, in the right location, your profit is made. You might not realize those profits immediately, but the profit is there and tangible, in equity and/or cash flow.

Don't let the naysayers get you down. There are plenty of opportunities in real estate investing, although TV may not always be the best place to concentrate.

I agree with most of your points. You can make money as a landlord in many places but TV is not even close to ideal for that. Amenity fees, the bond, the age restriction, dealing with your own lawn care, and a seemingly unlimited pace that the supply of comparable homes is increasing, and then you have the fact that over 60% of the people renting in TV don't want the home for 12 months, they want it for 3-6 months.

Quote:

Originally Posted by Dream2retire (Post 2282716)

I want input and advice about investing in rental property in TV.

Long long story short: I have a cash pension plan from a previous employer. Pays out as an annuity payment at retirement until my death then 50% to my wife until she passes. No value after that. Let’s say it’s $2K/month. Now they are offering us to cash out or roll it over.
I really don’t want any advice about rolling it over.
I was investigating rental property investment. If I could buy a house and get $2k /month rental income after expenses I would be thrilled. My thinking is over the years this would increase ( 20, 15 , 20 years). My income would grow and I would still have the principal ( the house) and that would be growing as well.

After looking at it a little, I’m thinking long term rentals wouldn’t bring in that much after expenses. It appears like it may even be difficult to get long term renters. Short term would definitely bring in that and more during winter months but I’m guessing very little at all during the summer.
Do you agree or disagree? Observations?
Obviously there are a lot of details I have left off to try to be brief. Just wanted your input and experiences. Thanks

A lot of good thoughts/ideas here. Best ? is whether you want the hassles of being a landlord. Can save some hassles by having a property manager but it will cost you. Need to have good understanding of market conditions. Housing boom has cooled and RE is not of an investment now than it was for the last 3 years.