View Full Version : any owner with five or more villas
Dear all
Just curious as to how many people actually have multiple homes- 5 and above- out in orlando or elsewhere aound the world?
floridadreamvilla.co.uk
05-07-2003, 18:33
We've got 4 and are currently considering buying another two :D.
I know of one guy on my estate who owns five ( or did, I dont know if he still does). At least he owns some and part owns the others with other people. With the deposit now 30% in most cases, it is quite a significant investment and ccmmitment to own five. I am wondering why you are asking as it is a strange question and why you picked the number five. If you have heard a rumour that if you own five homes, you can start a management company and use it to move out there, that has been an urban legend going around for years. I am not sure it would work in todays climate and certainly not unless you owned them outright.
chrizzy100
05-07-2003, 19:21
quote:Originally posted by MANDYB
Dear all
Just curious as to how many people actually have multiple homes- 5 and above- out in orlando or elsewhere aound the world?
My future sister in laws aunt owns about 8 houses all over the States....a few in Orlando she's been renting for years.....I think she paid $21k for her first FL house.....the same people go back every year.....
Julie is right - I looked into the possibility of a Visa to move out and run property, but was told that renting out property is a "passive investment" and doesn't qualiy for a visa. Surprisingly you could buy a services company (eg a cleaning company) and that might qualify dependent upon the exact circumstances (no of employees & levels of investment etc)
chrizzy100
05-07-2003, 19:49
quote:Originally posted by Chris7
Julie is right - I looked into the possibility of a Visa to move out and run property, but was told that renting out property is a "passive investment" and doesn't qualiy for a visa. Surprisingly you could buy a services company (eg a cleaning company) and that might qualify dependent upon the exact circumstances (no of employees & levels of investment etc)
People here had to put in a million dollars to get visa......they run a hotel and Engish tea room......the place is still going...they've had it 3 years now.....but they've had some hairy times over the last few years where they could of lost everything.....
florida4sun
05-07-2003, 20:04
I invested nowhere near that amount and have never looked back. Best thing we ever did. Provided your willing to work hard America is a great place to make money, so many opportunities. That said come into it with your eyes wide open and a pair in the back of your head.
quote:
People here had to put in a million dollars to get visa......they run a hotel and Engish tea room......the place is still going...they've had it 3 years now.....but they've had some hairy times over the last few years where they could of lost everything.....
chrizzy100
05-07-2003, 20:34
quote:Originally posted by florida4sun
I invested nowhere near that amount and have never looked. Best thing we ever did. Provided your willing to work hard America is a great place to make money, so many opportunities. That said come into it with your eyes wide open and a pair in the back of your head.
America is a great place to live.....and I was lucky to not have to invest anything to live here......but I've seen the bad side of the USA over the last few years.....I'm glad I can run home to England anytime I need too.....:)
The query was just a general one to get a feel for the possiblility that if our first home works out that we can then move on to buying more and more. It was not visa related at all. I lived in the States for thirteen years previously so no problems there.
It is heatening to hear about people with multiple homes as ometimes reading through the threads can be quite disheatening for a new starter.
how could i miss out the r twice in heartening?
We own our villa in Florida, but own three more properties here at home. One is our own home of course, one is a large office building (houses my husband's business plus a few tenants) and then another rental home. With interest rates being so low, we are seriously considering a 5th property but aren't sure whether we'll get another Florida villa or opt to purchase something close to home once again.
sammibabe
11-07-2003, 00:14
Having read threads previously it seems that a villa in Florida is because you love going to Florida - most say it is not really an investment. Markets are less volatile than UK ones so don't have the same increases and costs to rental mean that you don't always come out even (let alone in profit) so why buy more?
I bought my second home as part of a plan to move out there. There is just not the money in it to make it worth the sort of investment you would need to put in to buy five homes unless you have some agenda other than slowly paying off five mortgages over thirty years. Lifes too short!! Sometimes friends or family consortiums will own several homes between them, I am not talking of these, rather about one couple owning 5 homes on their own. You must also remember that for every person who is good at this business and buys multiple homes, there is another who isnt and will have to sell their one home at a loss, so it doesnt really tell you anything.