Orlando Florida Non-recourse Lending for Turnkey Properties
Florida comes in second place for being a magnetic state, 2nd only to California. A magnate state of course being just as the name implies. There are many fine attributes to magnetic states that attract people to it. Florida however not only attracts people interested in living in or acquiring a second home in the state, but it also attracts investors as the price points of property in Florida are much lower.
Many baby boomers aspire to move to Florida over the next few years after they retire, many of these like to invest here sort of like staking their claim here and riding the anticipated equity growth (appreciation) that Florida is expected to see as the economy continues to rebound.
Orlando Florida is of course one of the preferred areas for investing as it has the great blend of jobs and industry diversity. Medical City is the newest chapter for economic growth with a worldwide draw of visitors, businesses and employees. It is made up of 650 acres dedicated to medical research facilities and many hospitals all with their own specialties. Such as children’s hospitals, V.A. hospitals, prosthetic limbs hospital, etc. Not to mention many fortune 500 and even fortune 1,000 companies. Unemployment is low, there is increased job growth and as the 2nd most magnetic state in the country the attributes are strong.
The property taxes and insurance tend to be higher in Florida which tends to discourage the strong cash flow buyer. The buy and hold investors looking for a nice mix of cash flow with anticipated equity growth along with a magnetic appeal will find Orlando a great win. The ability to capitalize on tax deductible visits to check on your investment that are located in Florida is a nice perk as well.
Florida Turnkey Properties
Investor advantage properties that are fully rented and performing the day of purchase take the guesswork out of investing. Knowing what a true pro-forma will look like adds to the security of these properties.
Foreign and domestic non-recourse financing
Straight forward terms, non-recourse lending meaning the assets is the only thing securing the loan. This opens up the lending to IRA and foreign buyers. Also the lending is open to individuals that have reached their traditional bank lending threshold.
The terms are as follows:
65% LTV 9% I 5% origination fee
Whether you are an IRA investor, cash buyer, have your own financing or need non-recourse financing these properties will make a great addition to any portfolio.