REAL ESTATE INVESTING

There has never been a better time to invest in Real Estate. Prices are low, interest rates are low and inventory is high. Prices have hit the bottom and are starting to rise. We won't see the 10% to 20% annual increases in value we saw in the first half of the last decade, nor the dramatic drop that occurred in the second half. I anticipate a steady 2% to 5% annual increase in value over the next ten years. Interest rates are at an all time low. there may never be another time to use other people's money for so cheap.  Inventory is high and there are several more bank owned and short sale properties coming on the market everyday. Warren Buffett says single-family homes are a very attractive investment right now. "I'd Buy Up 'A Couple Hundred Thousand' Single-Family Homes If I Could." (February 27, 2012, CNBC). Residential Real Estate is a great investment because it has more than one source of income. Appreciation: As discussed above it has the potential to appreciate in value. The price of existing homes increased by 5.4% annually from 1968 to 2009, on average. (Natl. Assoc. of Realtors) Rental Income: The demand for rental housing is very high and increasing. Buy the right property at the right price, and you can not only cover the cost of your expenses, you can clear a monthly income. Tax Advantages:  Rental property expenses are tax deductable. Expenses include, but are not limited to repairs, insurance, and mortgage interest. Depreciation of property is another tax deduction and when combined with expenses, can be more than the income. So even though you are making a profit from the rental property, you can claim a loss on income taxes.  Consult a tax expert for your individual situation. You have options when you buy investment property. You can pay cash, obtain mortgage, join a partnership and you can even purchase real estate in your retirement account such as an IRA Let Realtor Bill Hellums help you navigate the maze of investment property from EGI to CFBT and beyond. Visit one of my websites at http://selldaytona.com/ or http://www.venetianbay.org/

Venetian Bay Golf Course Under New Ownership

The golf course at Venetian Bay was sold to a Canadian firm for $5.5 million. The new owner, Geosam Capital Ltd. hired the Palm Beach Gardens based Kitson & Partners to take over the management of the Venetian Bay Golf and Beach Club. The new general manager is Kyle Mooney, who managed the Kitson owned Highlands Reserve Golf Club near Orlando. It is too early to tell what changes will be made to the golf course and club, however the future is brighter than it was under the management of the Johnson Group.
Currently it is a private club with five different memberships which range in price from $850 to $4000 for a family annual membership, and a $500 to $5000 initiation fee.

Geosam Capital Ltd already owned the lots abandoned by Tiffany, in the Savannah Pointe section of Venetian Bay prior to closing on the Golf course deal. Along with the golf course/country club, Geosam acquired 25 acres of vacant commercial property at the Venetian Bay Town Center, this does not include the Tuscany Square Condo. Also included in the deal were 91 home lots and a development lot that can accommodate 118 townhomes.

Venetian Bay, which first started selling homes in 2004 was red hot until the housing bubble bust. Development came to a screeching stop in 2007 until late 2010 when D. R. Horton took over the lots owned by K B Homes. Now with Geosam Capital Ltd in the game, I look forward to seeing the dream that so many of us had for Venetian Bay to become a reality.

Visit one of my websites at http://selldaytona.com/ or http://www.venetianbay.org/