JS 104 - Garrett Kenny, Buying and Owning Property in Central Florida
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Description
Central Florida is home to one of the biggest family vacation spots in the U.S. Renting single family homes with private swimming pools within one hour of Disney resorts is a lucrative business for foreign real estate investors. The area boasts 62 million visitors just last year. This episode inspects ways to distinguish good deals from bad deals and breaks down the ownership costs of a $210 a night rental.   path of progress, Key Takeaways: [1:18] Great values inspired me to invest in Central Florida [1:47] A common misconception is that everyone makes a fortune in real estate [3:17] A medium term hold is 5-7 years, a long term is 10-15 [4:22] 62 million visitors went to Central Florida last year [8:26] You make money on the day you buy the property and not the day you sell [10:21] How to distinguish a good deal from a bad deal [12:18] Local expert knowledge, using restaurants as an indicator [14:02] The term “the bank’s money” means no skin in the game [18:30] Paying an 8% interest rate without putting any money down [20:38] Which banks are financing international investors? [21:39] What’s so good about Florida? [24:04] A vacation property which generates income while I’m not using it [26:33] 1600 sq. foot home for $260,000 home it rents for $210 a night [28:05] Traditional management fees + rental fee + cleaning costs [33:28] Jason makes a very good point! [35:21] Jason’s team looks for deals with a 35% annual overall return on investment    Mentions: Feltrim Group Association of International Property Professionals (AIPP)
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