Home Buying in Orlando>Question Details

Adar, Home Buyer in Orlando, FL

What area of Orlando is best for long term rental homes in the $100k range?

Asked by Adar, Orlando, FL Sun Feb 20, 2011

If I'm looking to purchase an Orlando area investment home for long term rental purposes and spend around the $100k mark ($80-120 maybe?), which areas would be best? I assume the lower the housing prices in the neighborhood, the lower quality tenant that I may get. With that in mind, should I be raising my purchase price that I'm looking for (to increase the chance of paying and non-troublesome tenants)? Are there areas where my stated price range can still give reasonable tenants or am I too much in that 'hit and miss' range? I assume property managers would be a good resource to weigh in on this question since our goals are aligned in that respect. Just looking for a few areas to start my research. Thanks all.

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Let me update the answer I wrote three years ago on this one. This was asked at the bottom of the market here in the Orlando area and since then prices are up more than 50%. In 2014, I'd say the answer to this question is St. Cloud. Still close to the Medical City and you can still find good houses here in the 80 to 120 price range.
0 votes Thank Flag Link Wed Feb 26, 2014
I have a 2002 built 4 bedroom/2 bath 2 car garage 1700 sq ft for sale in Kissimmee, 20 mins from parks. Asking 120K.

rickkiernan@yahoo.com
0 votes Thank Flag Link Mon Feb 24, 2014
Why not come on out to our home buyers workshop on Saturday, 9/14 and find out more about the Orlando area and what it will take for you to qualify to buy a home. It may be easier than you think!

We will have a realtor, a lender and a title agent on hand. The workshop is FREE! You can register at: http://lynkrealty-srch.eventbrite.com

or email us at info@LYNKRealty.com

We help renters and home buyers and we won't ever be pushy. Please join us!

Thanks!
0 votes Thank Flag Link Wed Aug 21, 2013
Pine Hills area is the B-E-S-T
0 votes Thank Flag Link Tue Aug 13, 2013
Hi Adar,

Great questions.

Do yourself a favor.

Go to http://realestate.about.com/

Download the ROI spread.

Plug in your numbers.

and read your

Cash Flow After Taxes (CFAT) ------>

If you like what you see Call a Realtor, they can help.

Good luck!
Thank you
Need More Information? Please visit us @ http://topvaluesinorlando.com/

Mike Luzzo
Charles Rutenberg Realty
933 Lee Road, Suite 300
Orlando, FL 32810
Office: (407) 622-2122
Cell: (407) 222-4545
Fax: 407-442-0615
0 votes Thank Flag Link Wed Feb 23, 2011
Adar,

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!

Jeramie Vaine
jvaine1@gmail.com
978.870.9429
Web Reference: http://www.jeramievaine.com
0 votes Thank Flag Link Tue Feb 22, 2011
In my opinion, I would recomend you contact a knowledgable Rental Agent and consult with him or her. To be successful in the rental market today, it is imperative to develop a long-lasting relationship with a quality property manger. Ask for a reference or meet him/her face to face if possible. In the price range you are looking for, I personaly like the east Orlando area near the college. it is a strong rental area with a constant influx of new, potential renters. It is also within resonable proximity of the new medical facilities.
If you have any further questions, please call me at 407-FOR-RENT/ 407-367-7368

Thank you,
Lisa McLacklan
Rental Agent
Broker
M&M Property Solutions Inc.
407-FOR-RENT
407-367-7368
Web Reference: http://407FORRENT.COM
0 votes Thank Flag Link Sun Feb 20, 2011
Hi Adar,
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
raquel@orlandorealtyqueen.com

407-453-0292
0 votes Thank Flag Link Sun Feb 20, 2011
Sticking in the 80k to 120k range is a sweet spot actually. Mostly for townhomes though. Single Family homes that meet your tenant goals are going to be more in the 120-220K range to still make a decent cash flow.
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.
0 votes Thank Flag Link Sun Feb 20, 2011
Hi Adar,

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
Kimsellsproperty@yahoo.com
407-406-0351
0 votes Thank Flag Link Sun Feb 20, 2011
There are a lot of good areas that would fit in your criteria. You should be open to townhomes and maybe going a little higher. A good Realtor can assist you and give you some good information, If you find a good location, pricing is critical for a rental. If I can asssist you and give you additiinal information let me know.
0 votes Thank Flag Link Sun Feb 20, 2011
DAVENPORT! Call me @ 321.402.4561 or email @ richie_1882@hotmail.com for more info.
0 votes Thank Flag Link Sun Feb 20, 2011
Realtors against professional code of ethics PREDICT any area of town.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sun Feb 20, 2011
Hi Adar,

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.

Good luck,
Mark LeMenager
Find your next house with the click of a mouse.
Search the MLS without obligation or registration from my website.
0 votes Thank Flag Link Sun Feb 20, 2011
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