Buy 2 Let program, Totally Florida Realty

Totally Florida Realty, Buy 2 Let program

WHAT IS BUY2LET ?
Buy 2 Let was a program that appeared to have its roots in the United Kingdom, and was a union of ARLA (Association of Residential Letting Agents), And mortgage lenders.

Its original design was to stimulate the growth of the Private Rental Sector by encouraging private investors to take advantage of opportunities of low interest rates And the reasonable certainty of sustained capital growth in residential real estate over the coming years.

So in its basic form it accommodates private investors buying homes, or more specifically condos (see more about condo conversions later), and then Renting them on a long term basis to tenants.

WHAT IS BUY2LET USA ?

ADVANTAGES OF BUY2LET OVER SHORT TERM RENTAL.

CONDO CONVERSIONS?

SO WHY THE TOTALLY FLORIDA TEAM?

WHO TAKES CARE OF THE PROPERTY?

Request information on Buy 2 Let properties available!

WHAT IS BUY2LET USA ?

Private investors, in particular foreign investors have long seen Florida, USA, and Central Florida in particular as a great source of investment.

Originally it was deemed that the Short Term Rental (STR) market was the best place for such investors. It was not that this was the best place for investment More that nobody was really looking into the Buy2Let areas at that time.

However, now that there is indeed a saturation of STR properties in this area, and with Prices have increased approx 27% over the last year, these properties are barely affordable, let alone able to rent and still get a break even point on your investment, Of course capital growth is there, but it does mean that now many owners are having to subsidize their purchase, something they did not intend or want to do at the outset. So that is where Buy2Let programs do come in.

ADVANTAGES OF BUY2LET OVER SHORT TERM RENTAL

Purchasing an STR means buying a single family home, with all the upkeep that it brings
on a monthly basis, namely pool, lawn, cleaning. It also means purchasing

1. Purchase furniture for the home, maybe costing between $15,000 and $20,000.
2. Paying utility bills each and every month, whether the home is rented or not.
3. Upkeep of lawn and pool each and every month.
4. Cleaning bills each and every time a guest departs.
5. The ongoing arduous task of finding renters 52 times a year, (or if you are lucky 26), or if you are renting to the American market, many more than 52 times (Typical stays are 4-5 nights at a time).

OK, so now let us imagine that you purchased a condo instead of an STR, and it is rented.
What then are the basic differences?
1. You do not need to purchase furniture.
2. You do not need to pay utility bills (tenant pays).
3. No cleaning bills.
4. No pool or lawn bills
5. Guaranteed source of income for 7 or 12 months at a time.
6. No need to find your own renters.

Of course both purchases will benefit from capital growth in an ever increasing Central Florida market, but which one will make you more comfortable at night?

CONDO CONVERSIONS

Central Florida is "hot" with condo conversions, so what is a Condo conversion? First we have to explain the basic difference between Apartment and Condo,

a) An Apartment is something rented.
b) A condo is something owned. To the British market it is "a flat".

So a Condo Conversion is an apartment complex that has been turned over from once being a rental complex into a unit that is now for sale. Please note that When a conversion is made it is ALL of the units that are converted, it is not that some remain as rentals, they are all sold. It is anticipated that 1 in 5 such buildings in Orlando alone will be converted in due course.

So, where will all these renters go to, after all there’s going to be an awful lot of them "thrown out" of their apartment buildings to make way for private investors. That is why this is such a great time to get into the condo market. Most Condo conversions are sold out within a couple of days of the conversions hitting the market.

SO WHY THE TOTALLY FLORIDA TEAM ?

Our years of experience in the STR market, and all kinds of investment areas in all of the Florida areas have led us to this natural Progression. As such we are classed as POWER BROKERS in the condo conversion market, meaning that we are among the first to be called When a building is ready to be sold off, and we have the advantage of advising our new and existing clients first.

We can handle the whole purchase of the condo, overseeing the renovation (if any), and the rental of the unit, collecting rents and remitting to you directly on a monthly basis. Handling any and all tenant problems and enquiries.

WHO TAKES CARE OF THE PROPERTY?

Totally Florida will take responsibility for the screening and application of all tenants, using police check and credit check agencies. Subsequently The collection and remitting of rents and for the upkeep and maintenance of the property.

Our Fees are as follows:

50% of the first month’s rental and 10% per month thereafter. Any costs involved in repair of unit will be borne by investor. Please ask for A copy of our contract.

*Please note that the responsibility for any financial decision to purchase a Buy2Let property has to remain with the individual investor.

Request information on Buy 2 Let properties available!