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Default Geez I am going to be 50 soon:( second home in florida rented sometimes?

Guess its better than the alternative

Anyhow have thought off and on over the years about buying a home in
florida around disney and renting it out for summers, to pay its
expenses and ave a future retirement home all paid for. Nice investment
too

Any good web sites that discuss this?

Got the idea after renting condos over the years in kissimee. The
agency who handled the rental said thats what the owners were doing.

Our home is paid for largely out of debt its a interesting idea.

I HATE winter and would love to move to florida someday. DONT want to
sell here till I KNOW I want the new location!!!!!!

I am sentimentally attached to our home having lived here since 1972,
heck I still drive by our old home...........

anyone do something like this?

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Default Geez I am going to be 50 soon:( second home in florida rented sometimes?


wrote in message
ups.com...
Guess its better than the alternative

Anyhow have thought off and on over the years about buying a home in
florida around disney and renting it out for summers, to pay its
expenses and ave a future retirement home all paid for. Nice investment
too

Any good web sites that discuss this?

Got the idea after renting condos over the years in kissimee. The
agency who handled the rental said thats what the owners were doing.

Our home is paid for largely out of debt its a interesting idea.

I HATE winter and would love to move to florida someday. DONT want to
sell here till I KNOW I want the new location!!!!!!

I am sentimentally attached to our home having lived here since 1972,
heck I still drive by our old home...........

anyone do something like this?

A friend has done this with a lake house and made out like a bandit on the
sale of the first one. The second isn't doing as well. A couple of factors
that have influenced it over the years are the pace of the economy and the
glut of these properties on the market. They have had to deal with damage
done by tenants, traveling for hearings against tenants, added charges and
demands for additional services by the managing realtors and a few that I
don't recall right nowl. It's not a cake walk but it can be pretty
profitable if you have the right temperment and know what is possible in the
future.


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Default Geez I am going to be 50 soon:( second home in florida rented sometimes?

On 3 Sep 2006 06:05:56 -0700, "
wrote:

Guess its better than the alternative

Anyhow have thought off and on over the years about buying a home in
florida around disney and renting it out for summers, to pay its
expenses and ave a future retirement home all paid for. Nice investment
too


You'd pay the thing off about 4 times as fast if you
rented it out in the winter, instead....
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Default Geez I am going to be 50 soon:( second home in florida rented sometimes?

In article ,
Goedjn wrote:

On 3 Sep 2006 06:05:56 -0700, "
wrote:

Guess its better than the alternative

Anyhow have thought off and on over the years about buying a home in
florida around disney and renting it out for summers, to pay its
expenses and ave a future retirement home all paid for. Nice investment
too


You'd pay the thing off about 4 times as fast if you
rented it out in the winter, instead....


Would that also hold true in the Orlando area? I would think that
other than maybe Christmas-New Years and Spring Break, it would be less
seasonal than the rest of FL.
One of the major concerns with FL is being able to get insurance.
Allstate, for instance, isn't writing hurricane insurance any more and
they are getting REAL picky even on plain vanilla homeowners. Plus the
price increases when available. Plus, at least when I looked into it a
couple of years ago, something like 20% deductibles. Even Condos are
seeing the pinch of the increasing costs.
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Default Geez I am going to be 50 soon:( second home in florida rented sometimes?


Kurt Ullman wrote:
In article ,
Goedjn wrote:

On 3 Sep 2006 06:05:56 -0700, "
wrote:

Guess its better than the alternative

Anyhow have thought off and on over the years about buying a home in
florida around disney and renting it out for summers, to pay its
expenses and ave a future retirement home all paid for. Nice investment
too


You'd pay the thing off about 4 times as fast if you
rented it out in the winter, instead....


Would that also hold true in the Orlando area? I would think that
other than maybe Christmas-New Years and Spring Break, it would be less
seasonal than the rest of FL.
One of the major concerns with FL is being able to get insurance.
Allstate, for instance, isn't writing hurricane insurance any more and
they are getting REAL picky even on plain vanilla homeowners. Plus the
price increases when available. Plus, at least when I looked into it a
couple of years ago, something like 20% deductibles. Even Condos are
seeing the pinch of the increasing costs.


orlandos BUSY time is june july august thanksgiving christmas thru new
years easter break. prime $$$ times none of which interest me.

I am a off peak person, january is ideal.

peak times are no fun for me.

so having a house rented when you DONT want to be there is ideal.

Talked to a park employee once he retired as a CFO chief fiancial
officer of a company.

sold everything and bought a big motor home, winters in florida summers
at yosemite. said it paid OK had little stress.

dsont know I would want to do THAT but he was interesting guy to talk
too.



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wrote in message
orlandos BUSY time is june july august thanksgiving christmas thru new
years easter break. prime $$$ times none of which interest me.

I am a off peak person, january is ideal.


Will you stay there year round at some point? I've heard complaints about
traffic at many places in Florida, especailly when the old fold inch their
way tot he doffee shop in the AM. Of course, once you are one of the old
folks, you may not car to go above 15 mph anyway.


sold everything and bought a big motor home, winters in florida summers
at yosemite. said it paid OK had little stress.


If you are going to have weekly rentals for tourists, you need an agent that
is there all the time and they handle the stressful stuff for you. Will it
work for you? It can, depending on what your wants and needs are. If you
build your "dream home", it may not be such a dream home to retire to after
it has been used by renters for 15 years. If it is an interim vacation in
winter home, it can work very well.

BTW, if you think 50 is bad, what will you do at 60? I figure those decade
does give me some "rights" and "seniority" to be a PITA to anyone younger.
Age has some advantages.


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Default Geez I am going to be 50 soon:( second home in florida rentedsometimes?

clipped

anyone do something like this?


A friend has done this with a lake house and made out like a bandit on the
sale of the first one. The second isn't doing as well. A couple of factors
that have influenced it over the years are the pace of the economy and the
glut of these properties on the market. They have had to deal with damage
done by tenants, traveling for hearings against tenants, added charges and
demands for additional services by the managing realtors and a few that I
don't recall right nowl. It's not a cake walk but it can be pretty
profitable if you have the right temperment and know what is possible in the
future.


I would be very leery of renting out a property far from home. Florida,
at least near me, is turning into a buyers market because all the
flippers ran up prices and can't unload them. If you buy a Fl property
owned for some time as a homestead, you may have a shock when you see
your first tax bill, and you won't get a homestead exemption if you
don't live there. Another rising concern is insurance. Elec. going sky
high. Our taxes are around $1500/year. Another unit in our building,
exactly the same but on second floor, is over $7,000 because the taxes
can't go up more than ?3%/year but when it is sold the sky is the limit.
The other unit is a rental, so doesn't qualify for homestead.

There is a highrise condo, across the street from where we go out to eat
often. About 12 story building, full city block. Noticed that after
dark there are never more than 3 or 4 apts. with lights on. Went to the
county tax website to look up owners' addresses, and found almost all of
those I looked at live out of town or out of state. Nobody LIVES there,
apparently )

People have been tearing down older condos left and right, three within
two blocks of us. All of a sudden, the building boom seems to have
ground to a halt. The lots are growing green stuff, but it isn't money
)

When the folks who bought into $2,000,000 condos on the beach find out
they can't get out on weekends because of traffic, they'll probably be
adding heliports ) City sold 500 public parking places to make the
beach prettier (losing $1,000,000/year in revenue) and even with those
spaces there isn't enough parking. Duh?
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Default Geez I am going to be 50 soon:( second home in florida rented sometimes?


wrote:
On 3 Sep 2006 06:05:56 -0700, "
wrote:

Guess its better than the alternative

Anyhow have thought off and on over the years about buying a home in
florida around disney and renting it out for summers, to pay its
expenses and ave a future retirement home all paid for. Nice investment
too

Any good web sites that discuss this?

Got the idea after renting condos over the years in kissimee. The
agency who handled the rental said thats what the owners were doing.

Our home is paid for largely out of debt its a interesting idea.

I HATE winter and would love to move to florida someday. DONT want to
sell here till I KNOW I want the new location!!!!!!

I am sentimentally attached to our home having lived here since 1972,
heck I still drive by our old home...........

anyone do something like this?



I would look about 50 miles south of Orlando, down towards Sebring.
The housing is cheaper and trhe traffic a lot easier. I wouldn't go to
Orlando if they were giving away $100 bills at the 7-11


I LOVE DISNEY my dream is to retire around there someday, I was a
landlord before and didnt mind, the long distance from pittsburgh may
have issues

It would be a vacation home and give us a chance to try it out on
someone elses $

I think they housing bubble may go completely BUST given the
governments decision that credit card interest was no longer tax
deductible. that got too many to move all their debt into their home
decreasing their equity. if housing prices drop a little the deliquency
rate will skyrocket people owing more than its worth.

major government screw up if you ask me.

our fairly nice 3 bedroom house in pittsburgh worth about a 100 grand
property and school tax near 3 grand a year tax rate is insane.

ofddly kissimee is a pretty affordable area its cost of living is about
the same as pittsburgh according to on line info. perhaps people dont
want to live in a tourist area?

appears a 3 bedroom house can rent for about 800 to a grand a week less
all expenses.

i would be thrilled if the rent just covered the operating expense
house would be kinda free.

need lots more info on this from people who have done it.

nice thinbg about 2 homes if hurricane flattens florida one i still
have a place to live

just this month a customer of mine retired and moved to florida for
winters, he is keeping pittsburgh home. I will try and get his phone
number perhaps see him hope to go to florida in january.

why work all year to vacation at a place you could live year round?

florida is hot in the summer

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I would look about 50 miles south of Orlando, down towards Sebring.
The housing is cheaper and trhe traffic a lot easier. I wouldn't go to
Orlando if they were giving away $100 bills at the 7-11


Other than doing my parental duty and taking kids to d-world, it is the
last place on the planet (other than the desert) that I would want to live.
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Default Geez I am going to be 50 soon:( second home in florida rented sometimes?

Norminn wrote:


Other than doing my parental duty and taking kids to d-world, it is the
last place on the planet (other than the desert) that I would want to live.


how come you don't like the desert?


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Default Geez I am going to be 50 soon:( second home in florida renteds...

Just recently bought my vacation home. But I went backwards from Florida
to Pa. Home prices, taxes and insurance are through the roof in Fl as
was said here. PA is now a bargain at all levels.

I'm thinking of doing a hurricane tourism thing at my Fla home since it
got hit with 3 in the last 2 years with more on the way.. 'Ride The
Hurricane'.!! 1500 a week during Sept. and Oct..!

Renters can be a hugh PITA though..

I can tell you where I'm at in Fl, it is not uncommon to see people
getting locked up for road rage (the traffic and heat don't mix well).
Seemingly 'normal' people just lose it..!

And like the other poster said taxes are real bad unless you've been
there a number of years. Mine are sub 1100 a year..

Because of the income taxes in Pa (vs. none in Fla), I'll keep my FL
home (and residency) just for the tax bene's..And it does get kind cold
here in Pa..

Better to get a class C motor home and invest the rest in your PA
house..


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