Originally Posted By gaston lives I don't know how much it'd go for. The lot and house only ran us $201,000...we refied 1.5 years ago and it appraised at $235,000. We have the largest lot in our area, and one of the larger lots in our end of town. They just don't make houses with good lots any more. I think we're on .25 acre, but I'm not 100% sure. What does Florida property run and what's the best way to get into purchasing some GOOD land?
Originally Posted By gaston lives Also, I'm turning 31 on the 25th of this month, and have only been in our house for ALMOST 3.5 years. Not bad, but definitely not as good as I would like. I'm a computer systems analyst, and out here, we're nearly a dime a dozen, whcih sucks. i would love to learn more about real estate speculation and purchasing. Did you buy homes in Orlando that people rent out, or did you buy PUD land that was then developed by a company?
Originally Posted By cape cod joe Rentals are the way to go as my mortgage broker told me yesterday he's stuck carry 5 properties in Naples with a partner. They're both paying 6K a month!!!!!! They wanted to flip but the market has cooled so he's screwed. On two of our rentals that we closed on at the ASMU food court on 12/30/05 we paid 238,000 each (3/2--3 story townhomes) with all closing costs paid > about 3 % but we JUST NOW rented them so we are paying 3600 a month in carrying costs with the rents being in the 1200 apiece range so we're 1200 a month in the hole but we anticipated that the increase in values will offset the 7200 a year red ink on each unit. If you buy to flip like my broker, you could be screwed as he is. I like Orlandoopoly for the obvious WDW reason and it is still hot. My rich brother taught me the key is you have to rent them.
Originally Posted By gaston lives I'll have to consider that. I'm looking into some tax lien sales here in Colorado for a quick turnaround at a high % yield. Not a bad deal, actually. The way it's set up out here is you either get the land that you buy the lien for at a HUGE discounted price, or else you get paid by the land owner for the price of the lien + prime interest rate as of Sep. 1+9%. Last year, that would have put any investments at about %24 yield. Not bad for a one year turnaround. What courses have you played in WDW?
Originally Posted By cape cod joe None but I can't wait as I just bought some ping G5's and everyone seems to be playing them including Tiger's playing partner at Doral yesterday. After not playing for 35 years, it's exciting to be hitting the ball 300 yards while being a player I hit it 220 or so. If only I started lifting weights earlier. Have you played there? Where should I play first? I definitely will only play when I go alone on real estate trips as I HAVE to spend 19/7 with the kids and wife in the parks. The ball must fly in that thin air?
Originally Posted By cape cod joe That investment sounds great Gaston I explained to my wife just this morning that the real estate went up ONLY 8% 2/05--2/06 on the cape but if you were fortunate enough to invest say 100K you'd make $8000-right? Well I worked the real estate in Orlando with 5% down so that same 100k bought us 2 million dollars worth of properties so at 8% we make 160K! It's called leverage. I'm betting that Orlando should go up in the 20's% this year (not quite as good as last year's 40% increase) so just do the math. All you have to do is have the courage and of course a little capital too. Then we can just play golf all day and collect rent checks. Until then, office, office, and dream of disney golf. I obsessively buy dozens of disney balls every time there so whenever people find the mickeys in the water, they know it's one of my frequent wayward shots.
Originally Posted By gaston lives Hahaha! I played the Magnolia course first. It's a Joe Lee design (most of Disney is), and it's got the longest par 5 on the PGA tour...it chimes in at 650 yards, roughly. It takes 3 GOOD shots to even get close. It's cool, though, cause you can hear all the train whistles and howling dogs at the HM from the Magic Kingdom while on the course! It's fun,a nd it's an awesome course! After that, I played the Palm...it's right next door to the Magnolia, and it's probably a little tougher, too. As you probably know, the Funai Classic is held on these two courses at the end of every PGA Tour season. I'd start there. My next stop will be the LBV. It just looks so fun since it goes right next to the water and downtown Disney and PI! I've only played the two, but LBV is DEFINITELY next! If you tee off at 3 pm, it's only $30 for 18 holes...WITH CART! If you can't tee off RIGHT AT 3, it's not worth it as you probably won't finish the round. I need to get some more capital before I can throw THAT kind of $$$ into real estate investing. Hopefully I can get into it rather heavily by the time I'm 40. I plan on taking all my tax lien revenues and rolling them over into some land in the mountains out here or in Orlando, so I guess over time it'll be a good thing. Any info or advice you have would be GREATLY appreciated!
Originally Posted By cape cod joe Gaston you are torturing me with this golf stuff as the ridge is down to probably 2 inches of the white stuff with today's melt down, so maybe Thurs or Fri should be playable. How'd you get so smart so young with the real estate? Your're doing great. I'd kill to have a crack at thatlong par 5 in 2 and a 58 L!
Originally Posted By vbdad55 I'm playing the I5's ( white dot) - and love em the most of any club since my I2's ---- as for the G's -- just to much of a blade for me and although my handicap still under 10, it has been rising and being over 50, and not playing nearly enough ( live in Chicago so 5 months shot ) - the G's just too risky on lack of forgiveness.
Originally Posted By cape cod joe I'm coming out of 35 years of not playing and these G's seem miraculously forgiving. I hit it a little left and it fades. I hit it a little right and it seems to draw? I'm not sure yet because it is winter golf here but next month should tell? How are the courses in the windy city compared to Disney 55?
Originally Posted By gaston lives I studied finance in college, and I pay attention to everybody I talk to who has actually invested in real estate. It's the best way to invest, becuase, as you said, the supply never increases. It only decreases as more land is sold...hence, higher prices with lower supply due to increased demand. Economics rules! I am playing a Tommy Armour 845 originals. Great feel, but they're lacking in distance. I hit the Great Big Bertha 8 degree driver, Callaway Steelhead 3, Cleveland quadpro 5, Cleveland wedges, and Ram Wizard putter. I am thinking seriously about getting some Callaway irons and a newer driver this season. it all depends on the financials and the wife!
Originally Posted By cape cod joe How's that 8 degree? I have the G5 10.5 for a better arc (for me). With the 8 I'd probably be hitting grounders to the infield. I know about the wife as we put every cent into the house here and the killer was the 50K initiation for the golf. We literally had almost NO furniture for 6 months so my wife constantly busted them for that. But the golf membership is deeded and that is what helped make the house worth $500,000 more than the 860 we paid. After that appraisal confirming my thinking and putting 100's of thousands into Orlando real estate, my wife didn't mind me springing for the 1800 for the pings---4-9, 4 wedges, driver, 15 degree 3, 21 degree 7 metal. So Gaston get the real estate hit and grab the clubs quick))) Callaways are great too. I like the real estate rental thing in Orlando cause the 55k workers in WDW and virtually 0 unemployment and the condo conversions mean that more and more people there have fewer and fewer places to live, and live somewhere they must.
Originally Posted By vbdad55 We have great courses here in Chicago - the most of any major metro city -- and really decent greens fees, our problem is 5 months of crappy weather every year. They are working on Cog Hill ( a course I grew up on) that has hosted the Western the last few years to make it an Open Course - like Medina.
Originally Posted By gaston lives The 8 degree is rather solid. I was close to getting the 7, but thought that would just be wrong. At altitude I've hit over 300 with it, but average around 250-270. I hit it really high, so I dont' really need a higher degree of loft. However, everything I've been reading lately says to go higher than you think for more carry. I think my next driver will be 9.5 or close to it. I mean, why not try something new? It's like 70 degrees outside and I'm stuck at my computer.
Originally Posted By cape cod joe We got it 41 and rising on the cape. The 5th is down to 1 inch or so of snow as I drove by this morning so I told the wife, "I'm going home first Friday" as it's supposed to be wall to wall 50's Fri, Sat, Sun! I do hit the ball a mile high and I do like the carry with the 10.5 and the G'5s do naturally give you more height so it's a nice ball flight. Trouble is at the Ridge here, it's so plush that the ball just sticks around the 290/300 yard mark with no run hence maybe the 8 might be better here? There with the thin altitude maybe the 10.5 might be better for you Gaston.
Originally Posted By gaston lives That's true. The hard part is when you hit it high, it won't run at all. However, since it's so dry out here, we have a lot of prairie dunes courses and links style courses out here. I guess running isn't necessarily needed. Maybe I should just maximize my natural ability to get the ball airborne and try and carry everything? I'm definitely giong up to at least a 9.5...maybe a 10. I think 10.5 might be a bit much for me. It's scary that I can hit my 3 wood off the carpet as far as, and frequently farther than my driver off of the tee. I've actually flushed my Callaway 3 wood 280+ to an elevated green several times out here...and I'm talking about a 20 yard elevated green in comparison to the fairway! I love the Steelhead + fairway woods...best ever invented! Well, my Cleveland Quad Pro is straight as an arrow, and I love the shaft that it came with. If you ever get a chance to pick on eup, it's WELL worth the $$$...I saw some the other day going for like $50 at Gart Sports (Sports Authority). I thought about getting a 7 wood from Cleveland for that price. Our league starts up next month, and I still need to get out and warm up...I can't wait! All this golf talk is killing me! If we're ever in FL at the same time, we ought to hook up and play, Joe! We're planning on going down aroudn Christmas time of 06, if you're interested!
Originally Posted By cape cod joe We were there for New Years' this past year and it was great. We just got our 2nd months' rents from the 2 townhouses so I'm feeling in a better mood to do a solo to WDW and hit the links. I'm sure we'll get it together for Eagle Pines? A basic course to start? You do know the 3 off the carpet is one of the most difficult shots in golf? Even with mostly perfect lies at the Ridge, I almost ALWAYS have to count of the fade which gives me no more than 260 or so That's incredible how far you're hammering it. Raining now so that means all the snow should be gone for tomorrow's 50's and GOLF!!!!!!!!!!!!!!!!!!!!!!
Originally Posted By gaston lives I've played at sea level several times, and it sucks! I hit so much shorter than what I tell you at sea level...but it's still fun! You ever come out to Colorado?
Originally Posted By cape cod joe Not Yet! Of course one of the great tournamnets on the tour is the International with the modified Stapleford scoring. Nothing like it. You are guys are torturing me as a customer just now called and asked it the Ridge was opening this weekend as his course (Halifax Country Club) is set to open Sat. This weekend it's going to walk till I drop as I have still refused to ride the carts as most people at the Ridge do. I asked this customer if he's played in Disney, and he likes Magnolia the best. I just have one word for you Gaston and tell me if you can hear the echo through the Rockies>FFFFFFFFFFFFFOOORREE!!
