Monday, July 05, 2010
Dear Reader,
Colin Murphy is my go-to guy for distressed real estate in Europe. Members of my Real Estate Trend Alert (RETA) service have bought “off market” prime city center cash-flow positive condos in the UK through Colin. Members were offered discreet discounts of up to 46%. These deals were strong. Unfortunately, the type of deals Colin offered members of RETA in the UK last year are no longer available. The market for quality units looks like it’s bottomed out and is showing some signs of recovery.
Today, Colin feels the best distressed opportunities are to be found in Florida. As you know, international real estate is my beat. I’m not active in the US or Canadian markets. I haven’t ever scouted in Florida. Colin is a guy I trust, though. He has brought us great deals in the UK and Spain. Moreover, this opportunity sounds exciting...really exciting...which is why I’m passing it on. While this isn’t the type of thing we usually talk about in the Pathfinder Alert, I feel I would be doing you a disservice not to tell you about it.
Below is the report Colin sent me. You can buy here for 30 cents on the dollar, and you should get a very strong rental return. Over to Colin...
“The beautiful city of Orlando isn’t just about Disney theme parks or Universal Studios – there’s a whole other side. Just a stone’s throw away from all the major attractions, the affluent area of Lake Mary/Sanford/ Heathrow in particular is highly regarded for its excellent schools and universities, prominent businesses and abundant restaurants and eateries. Additionally, high end shopping, superb golf courses, pristine waterways and wildlife and state-of-the-art sports facilities are all well served locally.
Its historic downtown area is home to brick-lined pedestrian streets, sidewalk cafes and numerous entertainment and recreational amenities. For relaxation, residents can enjoy a stroll or bike ride on the beautiful “Riverwalk” along Lake Monroe with its towering oaks, elegant store-fronts and large, nineteenth-century Victorian homes, all surrounded by untouched natural landscapes and flanked by charming historical villages. It really is everything you love about Orlando...without the headaches associated with the hustle and bustle of tourist traffic further south in the city.
With its accessibility to everything Central Florida has to offer, it is easy to see why the biannual rankings of CNN/Money Magazine in 2008 ranked Lake Mary as the 4th-best town in America, and the #1 town in Florida, to live. The crime rate is one of the lowest in Florida, and it also boasts one of the highest average household incomes in Orlando, at $84,000 per annum.
Despite challenging economic conditions, the area continues to be a choice location for high tech businesses, including Lockheed-Martin, General Dynamics, Harris, Mitsubishi Power Systems, Siemens, Seagate, multiple USAF facilities, GE, AT&T, Boeing, HP, and Northrop Grumman, to name but a few.
For those who enjoy water recreation, the choices are endless – from the pristine Wekiva River just minutes away, to the beautiful St. John’s River (world renowned for its fishing and wildlife)...and the stunning Atlantic coast beaches are only 25 minutes away, close enough to enjoy anytime.
Within a few minutes’ drive from Arbor Lakes is UCF, the third largest campus in the USA with 12 colleges and over 53,000 students. Additionally, Seminole Community College serves over 30,000 students annually, and the highly regarded Rollins College is recognized throughout the southeast for its undergraduate programmes.
Arbor Lakes: The Community
Built in 2002, Arbor Lakes comprises 282 homes, ranging in size from 833 sq ft to 1404 sq ft. Located only 2 minutes from the I-4, Arbor Lakes is a private gated paradise with spectacular lake views and is one of the few condo communities in this area. Just a 2 minute drive away you’ll find Colonial Town Park Mall, a major shopping and dining location.
Beautifully laid out and maintained, the community only offers ground and first floor properties. All properties have “own door access” and feature fully equipped kitchens, oversized walk-in closets, patios, balconies, high speed internet wiring, and garages.
Arbor Lakes offers resort-style amenities. These include a gorgeous communal pool, shaded outdoor tennis court, indoor basketball court, bar, and upscale clubhouse. The community has its own well-equipped gym just steps from your condo. The residents we have spoken to on-site love the layout, ample sized living areas and functionality of their condos... and also enjoy all the amenities mentioned above.
All twenty of our selected units are rented and occupied, with optimum lake front views and net rental yields between 8-9%. There are 23 detached and 11 attached garages also available.
You’ll get the full property features and community amenities in a brochure from Colin ((JavaScript must be enabled to view this email address)).
A great feature about this community is that it came on to the market after the property crash. Investors and speculators had left the market by then, so this community has remained stable, with almost no foreclosures. The sales history of units is outlined below. You’ll see the current pricing on the twenty units we have available on the right.
To request a full information pack or to speak with Colin (or his partner in Florida, David Shaw) email: (JavaScript must be enabled to view this email address).
Ronan McMahon
P.S. Remember, there are only twenty units available at these low prices...Colin sold 18 in the last 3 weeks...so don’t delay, contact Colin today for your information pack.
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