home News forums Reviews Trade links

Go Back   The DVC Boards at MouseOwners.com - the place to talk DVC and Walt Disney World > JUST FOR FUN > Bibbity Bobbity Buying
 Register FAQ Calendar Search Today's Posts Mark Forums Read

 Notices

Reply
 
Thread Tools Display Modes

Old 11-27-2019, 08:23 PM   #21
oufpat
Two Bedroom
 
oufpat's Avatar
 
Join Date: Jan 2011
Location: new jersey
Posts: 801
Default

Yes this is interesting reading and I'm surprised how many of us are in the same boat. My dream has always been to be a snow bird, spending warmer months at our second home at the Jersey Shore, and winters in Florida, but those HOA and all the other fees are the killer. Hopefully , we'll spend some time in the Orlando area after the Holiday rush, and see from there.
oufpat is offline   Reply With Quote
Old 11-27-2019, 08:25 PM   #22
ermindy1133
Add-on Aficionado
 
ermindy1133's Avatar
 
Join Date: Jul 2011
Location: Arkansas
Posts: 10,759
Default

How exciting! Maybe Hoop De Doo will mellow Craig and make him see reason... Good luck with the decision making process! Canít wait at see what you decide.
__________________
(ME, Mindy) (DH, Tim) (DS, Brandon) (DD, Emily, Emma, or Princess, lol!) (DSGF, Heather)
ermindy1133 is online now   Reply With Quote
Old 11-27-2019, 10:05 PM   #23
MinnieMomofOne
Add-on Aficionado
 
MinnieMomofOne's Avatar
 
Join Date: Aug 2013
Location: Savannah, GA
Posts: 6,917
Default

We are going to offer $105 for the smaller ground floor unit.

I expect a counter for either full asking price or $110. Getting it for anything less than $115 would make me happy.

If someone else snaps this one up with a full price offer while we negotiate, we will move on and offer for the larger top floor unit.

If someone else gets that too, then we will go back to saving more for a year or two. Thatís not so bad, as we might then be able to make a cash offer....or look at doing something larger.

Iíll post links to the specific units later this week. If this deal goes through, next item will be decisions on what, if anything, to go ahead and update immediately versus a list of things to do over time.

Also, Hoop Dee Doo was great!!! We took brotherís family plus the 3 of us, then stayed for Chip & Dale song along. Fun, busy night.
__________________
Cast of Characters: Me (Amy) DH (Craig) & DD (Samantha, age )
Amy's MO Trip Reports & Amy's Books
MinnieMomofOne is offline   Reply With Quote
Old 11-27-2019, 10:20 PM   #24
Brian5581
Add-on Aficionado
 
Join Date: Jun 2008
Location: New Jersey
Posts: 36,980
Default

Quote:
Originally Posted by MinnieMomofOne View Post
We are going to offer $105 for the smaller ground floor unit.

I expect a counter for either full asking price or $110. Getting it for anything less than $115 would make me happy.

If someone else snaps this one up with a full price offer while we negotiate, we will move on and offer for the larger top floor unit.

If someone else gets that too, then we will go back to saving more for a year or two. Thatís not so bad, as we might then be able to make a cash offer....or look at doing something larger.

Iíll post links to the specific units later this week. If this deal goes through, next item will be decisions on what, if anything, to go ahead and update immediately versus a list of things to do over time.

Also, Hoop Dee Doo was great!!! We took brotherís family plus the 3 of us, then stayed for Chip & Dale song along. Fun, busy night.

Congratulations on reaching your decision so quickly! Best of luck with the offering stage!
Brian5581 is offline   Reply With Quote
Old 11-28-2019, 09:25 AM   #25
tomandrobin
DVC Board Guide
 
tomandrobin's Avatar
 
Join Date: Aug 2007
Location: Maryland
Posts: 37,441
Default

Quote:
Originally Posted by MinnieMomofOne View Post
We are going to offer $105 for the smaller ground floor unit.

Fingers crossed!!!!
__________________
Love, Faith and Pixie dust!
tomandrobin is offline   Reply With Quote
Old 11-28-2019, 02:33 PM   #26
Joeli
Grand Villa
 
Joeli's Avatar
 
Join Date: Mar 2015
Location: Florida
Posts: 1,098
Default

So much fun reading about it....good luck...whatever happens!
__________________

Upcoming:
2021 (Mar - BWV, May - PVB, Jul - BLT, SSR/DCL Fantasy, Oct - PVB, Nov - PVB)

Done:
2020 (Jan, Mar, Mar/Apr/May/May/Jun, Sept, Aug, Oct, Nov) - Swan, PVB, PVB/PVB/AKV/AKV/PVB, DCL Fantasy - (COVID-19 BOO), BCV, BWV, PVB (bungalow)
2019 (Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sept, Oct, Dec) - DCL Magic - Miami - Marvel day at Sea, BRV, PVB, Swan, Swan, BWV, Swan, BWV, BLT, BWV, RCCL - Allure of the Seas
2018 (Jan, May, June, Aug, Sept, Nov, Dec) - DCL Fantasy - Orlando - Star Wars day at Sea, BLT, Swan x 2, Hilton Bonnet Creek, BWV/AKV (Kidani), Swan, SSR
2017 (Jan, May, Oct) - VGF, BLT, BRV
2016 (Feb, May) - PVB, BRV/BWV
2015/2014 (Sept) - BCV, AoA (Lion King/Nemo/Lion King)


Last edited by Joeli; 11-29-2019 at 08:26 AM.
Joeli is offline   Reply With Quote
Old 11-28-2019, 10:39 PM   #27
MinnieMomofOne
Add-on Aficionado
 
MinnieMomofOne's Avatar
 
Join Date: Aug 2013
Location: Savannah, GA
Posts: 6,917
Default

It's time to play the waiting game...actually, once I realized what time it was when we made a decision, we opted to hold off till tomorrow to ask agent to write up the offer. Agent is a personal friend helping us look as a favor, so I don't want to impose on the friendship too much. I still think the seller will counter when they get the offer tomorrow morning, then we follow the same game plan I typed here last night.

Our budget going into this was $160, so either of the units we liked at BB leaves us room to comfortable do a few upgrades if we want. After lots of discussion, it became clear that the first choice should be the ground floor unit because (1) snowbirds and (2) thought of carrying luggage & groceries up 2 flights of steps with no elevators myself. But #s also side with the smaller unit as our starter in the Orlando market. Monthly fees, not including property management, are $537 for this unit and include everything but electricity. The larger top floor unit monthly fees are $757, with monthly electricity bills also expected to run 140% or more of the smaller ground unit. So while I personally like the larger top floor unit much more, DH convinced me he is right that smaller ground unit is more practical for our first FL condo.

Something I didn't think about was that owners want electricity in their name, with bills going directly to them. It's a control feature. If power usage does not align with occupancy, that's a good indication to dig deeper. Evidently, shadow renting is a thing here.

Given distance, we need property management. I've found 4 options so far.
(1) Wyndham - they are on-site, known brand name & are easiest for guests. 24/7 maintenance is included with an additional required $100/month fee & covers such minor things as plugged toilets, air filter change, light bulbs and whole host of other things spelled out in the two pages on the maintenance in the contract. There is also a 30% fee for Wyndham in addition to the $100 per month for such things as linen service, housekeeping, access to spa/gym, ability to receive packages at the front desk, etc. The kicker is the additional travel agent fee on top of those costs, which has not yet been disclosed. So that's on my list of items to track down, along with getting an answer in writing regarding fees (if any) of bookings I generate myself.
(2) Real estate agent recommended property managers - this would be my go-to choice, as I trust my friend's recommendation. But neither of these two referrals have called me back. I get it is a holiday week, but if you don't call me when I'm offering business, will you call me once you have it?
(3) Property manager focusing on BB units. This guy called me back & I had a good conversation with him. One thing I liked was he could take what was (in hindsight) a bad idea, then figure out how to make it work for marketing purposes. His fees are basically $250 per month plus $80 housekeeping fee per guests. Any bookings he generates also get him 15% of that booking.
(4) Local friend who grew up in the rental industry & has time to manage it for me. This would be the lowest cost option....but I'm really hesitant, because while she is currently between jobs and available, that could change at any point. Plus, there's the whole risk of something going wrong and this is a close friendship I do not want to risk.

All of which really boils down to I need to run some scenarios & see just how much of a cost difference there might be in the apples-to-oranges comparison between Wyndham and BahamaBayResortDirect property management. Either way, at the end of the day the fees roughly match what I was anticipating, which is 50% of income gets eaten in management fees.

One thing to note - going Wyndham means committing for a minimum of two years, with a very short and specific window to opt out before getting caught in a 3 year minimum renewal. That by itself worries me some, not least because my only experience with Wyndham has been timeshare pitch & trying the equivalent of their one-time-use points as a discovery package. DVC does timeshare ever so much better.......but on the other hand, the employees I met at Bahama Bay while spending time there this week were simply great. From the bar tender who served us lunch at one of the on-site restaurants to the front desk agent, they were professional, friendly and long tenured. I don't think I spoke with anyone working there who had less than 5 years at the resort.

Several have commented on thinking about the rental game in FL. There's a lot of truth in many of the posted comments. I've been looking at the numbers for a long time. Some places (cough....worldq....cough....) can easily wind up more like 70%-80% of the income once that travel agent booking fee is added on top of a 30-50% management fee. Getting those documents is one of the best reasons to work with a local real estate agent. I've read through more of them in the last couple of months than I care to remember, but that's the only way I know to get a reasonable feel for fees before signing the dotted line.

As an aside & to some of the comments posted on this thread - there are some interesting occupancy laws in Florida. I don't know the details because I don't want to be in that market, but evidently there is a really good reason Disney won't let guests stay in the same unit for more than 30 days.

So back to the bright side. Here's hoping we snag one of these units. I'm already planning future trips in my new Orlando home, looking forward to enjoying that Margaritaville vibe for about 1/3 the cost. I'll keep posting as we keep progressing.

So thanks for the good wishes! I'm sending warm hugs to everyone who's taken the time to comment. HAPPY THANKSGIVING!!!!
__________________
Cast of Characters: Me (Amy) DH (Craig) & DD (Samantha, age )
Amy's MO Trip Reports & Amy's Books
MinnieMomofOne is offline   Reply With Quote
Old 11-29-2019, 07:49 AM   #28
BWV Dreamin
Add-on Aficionado
 
BWV Dreamin's Avatar
 
Join Date: Mar 2007
Location: Southern PA
Posts: 10,709
Default

Thanks for posting! Love reading about Florida ownership and the various neighborhoods. Best of luck on your offer!
__________________
Hope
VGF & CCV
BWV Dreamin is offline   Reply With Quote
Old 11-29-2019, 12:43 PM   #29
jrm1504
Two Bedroom
 
jrm1504's Avatar
 
Join Date: Oct 2010
Location: Wash St
Posts: 800
Default

This is pretty interesting stuff. Like everyone else...I wish I had a place to escape to down there...

So in those places, did they have a place where you could keep your stuff there locked up?
__________________
1987 DL offsite
1995 DW offsite
2001 DL offsite
2007 DW All Star Sports
2011 DW Port Orleans French Quarter
2012 DW Dolphin
2013 DW BCV (our wedding)
2015 DW BLT (son's 1st b'day)
2015 VWL
2016 DL Grand Cal
2018 BLT and BWV

jrm1504 is offline   Reply With Quote
Old 11-29-2019, 01:01 PM   #30
MinnieMomofOne
Add-on Aficionado
 
MinnieMomofOne's Avatar
 
Join Date: Aug 2013
Location: Savannah, GA
Posts: 6,917
Default

Quote:
Originally Posted by jrm1504 View Post
This is pretty interesting stuff. Like everyone else...I wish I had a place to escape to down there...

So in those places, did they have a place where you could keep your stuff there locked up?
Yes, all the ones we looked at have owners closets. The one we are making an offer on has both the inside closet & outside closet. I expect to use that one for pool toys & whatnot.

I'm looking at all the stuff available at Margaritteville online today. They've got a nice water park with $70 annual passes. For a 5 minute drive, I might well sign us up for that if this deal works out. (waiting, waiting....)
__________________
Cast of Characters: Me (Amy) DH (Craig) & DD (Samantha, age )
Amy's MO Trip Reports & Amy's Books
MinnieMomofOne is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -4. The time now is 07:19 PM.

© MouseOwners. "MouseOwners" is a registered servicemark. This is an unofficial fan site and is not affiliated in any way with The Walt Disney Company, the Disney Vacation Club, Disney Vacation Development, or any of their affiliates or subsidiaries. All Disney images © The Walt Disney Company.
Powered by Forum Software