Bimini Bay in Davenport, FL was supposed to be a one of a kind vacation home community located near Disney World. The community was supposed to rival the likes of Regal Palms and other such vacation communities. However the reality is far from the dream unfortunately.
Bimini Bay now stands in the middle of controversy and alleged mismanagement. The community has received some bad press of late as well. This Orlando Sentinel article about the troubles Bimini Bay is going through was written on December 3, 2011. The article reported that many residents are quite upset about how their community has been mismanaged.
This last summer I had a few investors who were curious about the available deals in Bimini Bay, so I called Bimini Bay to ask about expected improvements to the community. I was told at that time that the HOA had plans to rebuild the clubhouse, which burned down earlier this year. They also told me that they still had plans to build the water park that residents expected when they purchased their homes sometime in the future. From the flowery language they gave me, it sounded like things were on the mend and they would soon be transforming the community into the vacation hot spot is should be.
As the Sentinel article points out, as of this writing, the clubhouse is still just a shell, there is no security, maintenance has suffered, and there is most certainly no water park.
However, there is a silver lining. A 4 bedroom townhouse can be bought for less than $50,000 in Bimini Bay right now. Where else are you going to buy a 4 bedroom townhome 3 miles from Disney World for $50k? Nowhere, that's where. Investors know that the time to get in is while the market is down. This community will recover sooner or later, and when it does the investors who bought into it now will be sitting pretty. The community is located less than 3 miles from the gates of Disney World and within a half hour drive from almost every attraction in Central Florida. There's nowhere to go but up for Bimini Bay in my opinion.
Homes For Sale In Bimini Bay Davenport, FL