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The Palms Hotel and Suites


Location:

Located in heart of Central Florida's exciting attractions, convention and shopping area just across the street from the Universal Studios Orlando and its new addition to the theme park “Harry Potter”

Incentives:


• $7,000 TOWARDS CLOSING COSTS
• Five (5) Years Lease Back ($2,050/m 1br & $2,765/m 2Br)
• Five (5) Years Management Fee ($150/month)
• Five (5) Years HOA Master Assoc Fee ($135/month)

Developer's Added Value:


SUBSCRIPTION IN A VIP TRAVELING CLUB FEATURING ONLINE REAL TIME RESERVATIONS FOR HOTELS/ RESORTS/ CRUISES AND CARS.

 

Prices:


• One Bedroom suite: $219,500 (549sf)
• Two Bedroom suite: $284,500 (833sf)

 

• HOA Property Fees


o One Bedroom: $279
o Two Bedroom: $424

• Estimated Mortgage at 80%LTV, 7.5% Fixed Rate & 30 years term


o One Bedroom: $1,227.82
o Two Bedroom: $1,591.41

• Estimated Taxes (1.2% + 7%)


o One Bedroom: $230.52
o Two Bedroom: $298.78

• Leaseback


o Any additional expense to buyer during leaseback program? NO
o Use of unit by owner: 3 months + no blackout days + no lease back during owner use.
o Content Insurance: Yes. Only Liability additional (@$40/m)

• Rental Program (Available after the 5 years lease back is over)
o Rental program of 60/40 split (over net)
o Hotel Operator contract & details available

• Conversion done 1 ½ years ago. In addition there will be the following changes:
o Tile, Bathroom Vanity, Kitchen (two burner range) and Flat TVs. Granite countertop will be added

 

 

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MBT Homes, 1910 Greenside Dr, Kissimmee Fl 34746 (407) 908-2326 marcus@mbthomes.com

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