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Plug in your numbers.
and read your
Cash Flow After Taxes (CFAT) ------>
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Charles Rutenberg Realty
933 Lee Road, Suite 300
Orlando, FL 32810
Office: (407) 622-2122
Cell: (407) 222-4545
Your question is a great one, especially as an investor. However keep in mind sometimes paying more for a unit will not net you more money. There are many hot spots in and around Orlando. I have sent ROI's anywhere from 10% to 25% depending on how you work your investment. If you utilize a investor's agent you will be able to take advantage of the areas that will work best. This market requires outside of the box thinking, if you buy and try to rent where everyone else does guess what happens.
There are a few tricks to how to maximize your return and having a great property manager is a good start. But if your property is not in the right area you may be costing yourself money. Just look at the examples below there are many areas to choose from, make sure you research the best ones or hire and agent that can show the pro's and cons of each.
Best of Luck, feel free to contact me for any information or if you want any of the tips I provide for my investors!
If you have any further questions, please call me at 407-FOR-RENT/ 407-367-7368
M&M Property Solutions Inc.
You can definitely find good homes that would attract good tenants for the price range you are thinking of.
However, I would recommend buying a condo in or around Downtown Orlando. I don't know (because I have not read the other answers) if anybody else has recommended that, but condos in downtown Orlando fetch very good rents and a lot of professional people rent there because of their work.
If you are interested, I would be very happy to give you further information and send you properties that may be relevant.
I know that condos have HOA fees, but they also have a lot of advantages over houses, not the least of which is that prices are so low now that they are incredible bargains.
I look forward to your response
My past clients with similar goals have found the southern part of Winter Garden and Windermere (Around the winter garden village) to work well and are currenly enjoying steady renters.
Hunters Creek and Williamsburg area's attract alot of attractions workers, you may be able to get a few single family homes but they will be older and will require more maintenance and work to get into rentable condition.
Lake Nona is also a great area with it's proximity to the Airport, and the new medical city as already mentioned. there are quite a few rental properties in the area though so expect more competition.
As an alternative to Lake nona there is also the Lee Vista area just a bit further north of Lake Nona, closer the the Univeristy of Central Florida. There are some great townhomes here in the 80's and 90's.
Then there is Waterford Lakes and UCF area (32828 and 32826,32817 zip codes) You'll get a bit more students( they can be great rrenters as well) but there are also major employers in the area from lockheed martin, siemens, and a ton of tech and engineering companies around the University.
If you can up the price range just a bit into the 160's you can find some amazing townhomes or condo's in downtown Orlando.
Lots of options really. I'd be glad to give you a personal interview to discuss exactly what your goals are and what area's and properties will fit best.
I appreciate you reaching out to the Trulia community. You question is direct, but difficult to properly answer. There are so many options and your flexible price range alllows you to consider many areas that would fulfill your goal. I would however suggest to consider properties near major attractions: Disney, Universal Studios, etc. . The theme parks aren't going anywhere and their employees are always looking for close by housing, so you should be able to keep the property rented out year round. Consider zip codes 32835 (MetroWest) , 32821 (Sea World area) & 32819 (Dr. Phillips/Universal Studio) and anything near Disney.
I have a single family home that I am getting ready to list as a short sale near Sea World that has a long term, "good" renter already in place that wants to stay. The purchase price should be well within your desired price point. If interested, let me know and I will share the specifics & details.
I am confident that avid Trulia followers and professsionals will respond to your question with good advice and recomendations. If you would like to discuss my future listing or other alternative and prospect properties, please contact me directly. I would welcome the opportunity to discuss and e-mail you the countless Orlando investment opportunities and assist you in your endeavor. I work with lots if investors and can provide references if needed. It remains a STRONG buyers market, so there is no better time to buy! Good Luck!
Hope you had a GREAT weekend!
Thank you kindly,
Kim Setzer, REALTOR
CENTURY 21 Elite Home Finders
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Without question, you want to be anywhere that is a comfortable commuting distance to the new medical city at Lake Nona on Orlando's southeast corner (near the airport). $100,000 will get you a good townhome in this area, that will rent well. If you want a single family house, there will be some opportunities as well, but not a lot.
Let me know if you could use some help.
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