Orlando Real Estate Investments: All Properties Are Not Equal
In stark contrast to five years ago, when single-family homes were a sure-fire moneymaker, today’s real estate market calls for a savvy investor. Now that single-family homes constitute a buyer’s market in many major cities in the U.S., it pays to think outside the box and embrace new investment opportunities in locations that will pay returns. Orlando, Florida real estate investments constitute one such opportunity.
Why Property in Orlando?
When it comes to property in Orlando, Florida, you might say that there are 55 million reasons to invest. That’s because there Orlando hosts an estimated 55 million tourists each year – all of whom need a place to stay. In addition, the greater Orlando area generates over a half billion dollars in retail sales and welcomes over 1,200 new adult residents. Even so, the Orlando housing market is considered to be 30 percent undervalued when compared with other major cities in the United States. The city also ranks first in the second home market in the U.S.
It’s no surprise that Orlando, Florida is such a desirable destination. After all, there are 95 family-friendly attractions (think Disney World, Universal Studios, and Sea World, for starters), 4,500 restaurants, and over 200 golf courses. Over three-quarters of visitors to Orlando cite leisure activities as their primary reason for visiting. So, when it comes to Orlando real estate investments, the fruit is ripe for picking.
The Best Orlando Properties
When it comes to Orlando real estate investments, all properties are not equal. Homes, town homes, and condos are akin to Real Estate 1.0. The latest version – Real Estate 2.0, if you will – is the condo hotel resort. For investors, the condo hotel resort is the best of all worlds, in that it allows you to generate rental income from your unit when you are not using it. Plus, a condo hotel resort has many desirable features beyond living space, such as retail stores, restaurants, pools, and so forth.
A perfect example is Orlando’s Blue Rose condo hotel, set to break ground in late 2007 and be completed in 2009. With pre-construction investments already underway, the Blue Rose plans over 250 condominiums and over 1,200 designer-furnished condo hotel suites. These include high-end luxury studio lofts, one- and two-bedroom units, and penthouse suites that will range from 570 to 3,000 square feet.
The Blue Rose will be a full resort, complete with a Swan Lake Promenade, European cafes, themed restaurants, private pool cabanas, and a 1,000-seat theater with two productions daily.
Investors in condo hotel resorts can use them as a straightforward investment property, or can enjoy them as a vacation home. Condo hotel resorts typically assume responsibility for rentals, management, and maintenance, removing the headaches and hassles often associated with buying rental investment property.
In sum, Orlando real estate investments are wise in the current real estate market, but some investments will bring a greater return on investment than others. Condo hotel resorts, such as the Blue Rose, are the new wave of real estate investment opportunities.