Home Buying in Orlando>Question Details

Catherine, Home Buyer in Orlando, FL

Hi, i need advice as to which area is good for monthly rental investment property. which area is desirable? Orlando, Kissismee, or Lake county?

Asked by Catherine, Orlando, FL Tue Nov 16, 2010

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I suggest you make a spread sheet and calc best and worst case situations and then key in info to find outcome of every place you are interested in. You key in cost of property, with estimated monthly rental, a base standard for repairs and all other cost... gardener if needed, property taxes, HOA's and any other monthy cost. Then you can figure your rate of return which should tell you whether the property is a good investment!!! Good Luck

Kindest Regards
Dianne Hicks
HomeSmart Real Estate
Web Reference: http://www.di4homes.com
0 votes Thank Flag Link Tue Nov 16, 2010
Cat:

The Kissimmee / Four Corners area is a great rental location because of the high concentration of service/hospitality industry workers. Also if you are considering short-term rentals that will be destination #1.
Also you can get much larger properties in Kissimmee than Orlando for the same price, so if investing for the long run is your plan...thats where you will get more for less.

Tony Vega
Charles Rutenberg Realty

http://www.SearchKissimmeeHomes.com
0 votes Thank Flag Link Tue Nov 16, 2010
Catherine,

If a rental is priced correctly it doesn't matter where it is, it will rent. The thing you need to consider is what your budget is for purchasing an income property. Obviously with Orlando being a city the cost of property is going to be more expensive than in Lake county or Kissimee. Our office is located in the heart of downtown Orlando and we have a large quantity of rentals. We move them very quickly as long as it's in good condition and again, priced correctly. There are a lot more renters these days due to the foreclosure and short sale and people being forced out of there homes. Most of these former home owners are looking for rental properties in good condition with upgraded interiors. I hope I giving yo a few points to consider while looking for your income property.
0 votes Thank Flag Link Tue Nov 16, 2010
Catherine,

When you say Orlando it brings to mind the downtown area, I'd look at Lake Nona which if you're from out of town would be the same county, Orange County, as the City of Orlando. The reason for Lake Nona is the new Medical City bringing over 30,000 plus jobs that as of now don't exist, I have investors buying there now.

Thats my choice for the foreseeable future! Contact me for more details at 407-330-0060

Hope this helps,

Dave Lowe, Real Estate Broker
GRI, ePRO, Realtor

Community and Family Values
Web Reference: http://OrlandoHomeStore.com
0 votes Thank Flag Link Tue Nov 16, 2010
Hi Catherine,
I would suggest that it depends what your target market is.
If you are looking for young professionals to rent to, then I guess Orlando - as close as possible to Downtown or Winter Park would be your best bet.
There are of course, many other desirable areas within Orlando Metro Area.
Kissimmee, because of the Theme Parks is best for short term rentals.
I would be happy to answer any further questions you may have.
raquel@orlandorealtyqueen.com
0 votes Thank Flag Link Tue Nov 16, 2010
Actually any of the 3 are good! Kissimmee will allow for more short term. Please call my cell 407-408-5167 and we can talk about what we can do. George Freelove
0 votes Thank Flag Link Tue Nov 16, 2010
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