Grove Resort & Spa, Orlando Condo Hotel, Leaseback Program Pays 10% Guaranteed
Bonus $10K Credit at Closing
May 30, 2019
Hello. Joel Greene here from Condo Hotel Center.
My twin girls love Orlando as well. That’s why they both chose to go there for college, attending the University of Central Florida. Whenever I visit with them, I make sure to swing by one of my favorite condo hotels there and see how it’s doing.
I love Orlando, Florida. The weather is spectacular year-round. And there’s no shortage of exciting theme parks, fabulous restaurants and amazing shopping (just ask my wife).
At my recent visit, I learned that the developer was about to release the condo hotel residences in its third and final phase. And they planned to offer some amazing incentives including an extremely generous leaseback program.
If you’ve ever thought about buying a hassle-free, luxury vacation home in Florida that helps pay for itself with rent revenue when you’re not there, you won’t want to miss this opportunity. Read on for details.
5 Minutes from Disney World
The Grove Resort & Spa is a massive 2.1 million square foot development located on scenic Lake Austin Reserve, just five minutes from Walt Disney World and numerous other theme parks and attractions. It has 16 interconnected buildings, each seven stories and designed in a contemporary Mediterranean style.
It has 878 condo hotel residences spread over 115 lushly landscaped acres. It also has three six-level parking decks.
The Grove Resort & Spa opened its doors in March 2017, and while renovations on some of the rooms are still in progress, the rest of the hotel is now fully operational including all the amenities.
My personal favorite amenity is the $12 million water theme park, which has:
- The Flow Rider, a dual-sided wave simulator for surfing
- Large lagoon-style pool with beach entry
- Interactive water-play activities with 2 water slides
- Shallow kiddie pool
- Lazy river water canal with waterfalls
- 4,000 sq. ft. bar and grill
Just picture yourself floating down the lazy river, a Miller Lite in your hand, while your kids are perfecting their surfing technique on the Flow Rider.
Having a water park right on premises means that you don’t even have to leave the property to have a fun-filled day! Other amenities include:
- 3 different bar areas, 2 poolside
- 3 large pools, cabanas available
- Full-service spa
- Fully equipped fitness center
- Lake water sports – kayak, canoe, peddle board, electric motor boat tours, fishing
- Beautiful 4-star lobby
- Grab-n-go convenience store/deli/sundry shop
- 7,500 sq. ft. meeting space for corporate retreats, weddings, etc.
- Arcade – fun and games for all ages
- Kids’ activity center – painting, build-a-bear, movies, board games, arts & crafts
The Grove also offers a full complement of hotel services:
- 24-hour security
- Multi-lingual hotel concierge
- Valet and doormen
- Full-service front desk
- In-room or poolside massage
- Pool-side services – food, bar & spa services
- Daily housekeeping
- Free shuttle service to Disney 3 times per day
Generous Buyer Incentives
For its Phase 3 condo hotel residences, The Grove Resort & Spa has several very attractive buyer incentives – a generous credit, a leaseback program and free HOA fees.
- Buyers will get a $10,000 credit at closing to put towards closing costs.
- Owners will have the option to lease back their unit to the developer for a 10% guaranteed return, based on their purchase price.
- The lease will be in effect from the day of closing until Dec. 31, 2020. The sooner you purchase, the longer you get the guaranteed 10% return.
- Owners will not pay any HOA fees during the leaseback period.
- Owners who select this leaseback option may still use their unit two weeks per year.
After the leaseback program ends, owners will still have the option to participate in the managed rental program and receive revenue to offset the costs of ownership. However, the return won’t be guaranteed as it is in the leaseback program.
Upscale Features & Furnishings
Each condo hotel unit has a generous private balcony that blends indoor and outdoor living. Some of those units offer great views of the Walt Disney World fireworks that happen each night at dusk.The residences come fully furnished and with equipped kitchens. Features include:
- GE stainless steel appliances
- Granite kitchen countertops
- Granite bathroom countertops
- Large bath tubs
- Crown molding in living room/master bedroom
- Private, screened-in balconies
- Central air conditioning and heating
- Electronic entry-lock security system
- Wireless high-speed Internet service
A Proven Track Record
The Grove has now been operating for two plus years, and its occupancy track record has steadily grown as the property has become known. In 2016, occupancy was 55%. In 2017, it rose to 68.2% and last year, it was up to 73%, all the more impressive because the number of units available to rent out has increased. 2019 numbers are trending even higher.
It typically takes two to three years for a new hotel to ramp up its occupancy. If you buy a residence in Phase 3 and elect to take the seller’s leaseback program with 10% guarantee, the business at the property will be humming along at the end of 2020 when the guarantee expires and you transition into the hotel’s rental program.
A Phenomenal Location
The Grove Resort & Spa is located amid everything that makes Orlando one of the most visited cities in the world.
World-class theme parks such as the renowned Walt Disney World and Universal Orlando Resort are just a few of the many activities for entire families to enjoy.
- Walt Disney World entrance 05 minutes
- Magic Kingdom 17 minutes
- Disney Hollywood Studios 19 minutes
- Epcot Center 16 minutes
- Animal Kingdom 14 minutes
- Blizzard Beach Water Park 15 minutes
- Universal Studios 30 minutes
- Islands of Adventure 30 minutes
- SeaWorld Orlando 30 minutes
- Aquatica 30 minutes
- Volcano Bay Water Park 35 minutes
- Legoland Florida 50 minutes
The Grove Resort & Spa is also located near dozens of restaurant options, shopping malls, nightlife, entertainment venues, museums, and outdoor adventures such as ziplining, skydiving, scuba diving, hot air balloon rides, boating and fishing.
Trust me, you will never be bored in Orlando!
Available in Phase 3
Phase 3 residences at The Grove offer a choice of two- and three-bedroom floor plans that range in size from 1,265 sq. ft. to 1,544 sq. ft.
Prices range from $330,900 up to $499,900, which is substantially less than any condo hotels in the Miami area as a comparison. Financing is available for both U.S. and international buyers.
If you’d like to know more about this property, check out The Grove Resort Orlando Video
Then, for more details regarding price, unit sizes, etc., request my detailed data sheet below.
Meet My Newest Family Member
I mentioned at the top that my daughters attend the University of Central Florida. As seniors, they’re both staying in Orlando over the summer to work and also to enjoy all the activities the city has to offer.
When Jackie and I helped them move into their summer apartment two weeks ago, we got to meet their new cat Leo. Pretty cute. Welcome to the family, Leo!
As always, thank you for your interest in the properties I feature. If you decide to buy at The Grove Resort & Spa, don’t be surprised if I stop in for a visit on a trip to Orlando to visit my daughters and Leo. You decide whether that’s a buying incentive.
Want to know more about me? Click below:
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