Home Buying in Orlando>Question Details

lacuha372, Home Buyer in Orlando, FL

What is better in terms of investment in Orlando, Fl: buying near a major attraction (ex. Disney) or buying a long term rental (where?)

Asked by lacuha372, Orlando, FL Mon Jan 28, 2013

I would like to invest in a property in the Orlando area --not decided what type of property yet (single home, multi family...please feel free to suggest). The targetting maximun price is $115 K. Where and what is better for me? Can I get a decent property with good potential? Where is better to buy: Kissimmee or Orlando area?
Thanks so much

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11
Craig Rich’s answer
We're a full-service long-term property management company. I'd be happy to spend some time going over some of the pros and cons.

I look forward to hearing from you.

Craig Rich
0 votes Thank Flag Link Thu Jan 31, 2013
I am a full time Property Manager and get a lot of requests from renters wanting houses in Saint Cloud. If you go with condo you often end up with high HOA fees which have to come off your profit margain. Saint Cloud has been very popular because of the Lake Nona medical city coming in and the prices in Lake Nona have remained very high. There are some properties in Saint Cloud for under $115K but they are becomeing hard to find. Another area would be East Orlando the UCF area but that area still remains to be "seasonal", when college is starting there aren't enough rentals for the demand.
If you'd like me to get a sales agent to work with you let me know and I'd be happy to work for you to rent the property as this is what I specialize in.

Thanks
Julie
JulieRents@aol.com
0 votes Thank Flag Link Tue Jan 29, 2013
I have been in the business in this area since 1998. I had my own short term rental management company for many years. I have helped 100s of folks just like you. I am an active investor too. If you would like to deal with a broker/ investor who has actullay done and is doing, what you want to do, then I am hear to help you. Short term remtal is not the way forward for investors in my view. It is good if you want to use the place yourself together with family and friends. But there are better options if you just want to benfite from the uptick in real estae prices over the long term. Too many charges fall to the oner of a short trm renta;l property and it generally, with some exceptions, does not make financial sesse.

call , text or e mail 407 832 4888 alan@frontlinefloridarealty.com http://www.frontlinefloridarealty.com
0 votes Thank Flag Link Tue Jan 29, 2013
Hi There:

In my opinion with $115K, your best bit would be to purchase a nice condo or a town-home close to Disney (That would be Davenport, South Clermont and East Kissimmee) and use it as a short term rental unit for vacationers.

Below is the link to homes in these areas within your price range

http://abidhendi.orlandopropertiesonline.com/listings/areas/…

Hope this helps.

Abraham Bidhendi
Top Producer Realtor® with over 25 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
We have had 165 successful transactions during the past year alone.
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Email: REOsofflorida@msn.com
Website: http://abidhendi.orlandopropertiesonline.com
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte Springs, FL 32701
0 votes Thank Flag Link Tue Jan 29, 2013
First start with my popular blog on short term rental:

http://www.trulia.com/blog/mark_lemenager/2011/08/vacation_c…

With the budget you have in mind you will persoanlly need to work pretty hard on marketing and booking to have any chance of success.

In terms of the long term rental market, Yes there are still plenty of opportunites and you will even find properties in this price in in the area impacted by the Medical City on Orlando's south east corner. Here's a dozen all built this century: http://mfr.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1045018…

You can read about the Medical City on my website.
0 votes Thank Flag Link Tue Jan 29, 2013
Great time to invest in FL! Much of the answer to your question depends on how involved you would like to be in your investment. The most successful short-term rentals are those that the owner is involved with the marketing of the rental. If you are wanting cashflow with minimal involvement, a long term rental (single or multi-family) would probably be a better choice. I work with several local investors, am an investor and member of the local investors association and have helped out of country investors as well. It would be my pleasure to help you in any way that I can. Please feel free to contact me by phone or email with any other questions or thoughts you might have. Happy Investing!

Tania Matthews
The Tania Matthews Team
Tsmatthews@aol.com
407-497-9660
0 votes Thank Flag Link Mon Jan 28, 2013
-

#1 ask any realtor how many rental properties do they currently own and manage.

#2 ask any realtor can their so called …”Preferred” lender offer anything after program #2 below:

1) 100% LTV- VA - pay off debt at closing on a purchases too!
2) 100% LTV- USDA - 12 mo. into Chapter 13 BK…OK Too!
3) 99% LTV- FHA
4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!
5) 95% LTV- NEW-No PMI!
6) 95% LTV- NEW-CONDO Loan
7) 90% LTV- NEW-No PMI -2nd Home
8) 90% LTV- New-Jumbo w/cc
9) 85% LTV- NEW- No PMI to Super Jumbo
10) 80% LTV- Rental Property
Stated Income Alt Loan programs
11) 80% LTV- to Super Jumbo
12) 80% LTV- FIX n’ FLIP Invest. Prop. – No min. credit!
13) 75% LTV-to Mega Jumbo
14) 75% LTV- Foreign Nationals-to Super Jumbo
15) 75% CLTV-after Short Sale, BK, Foreclosure to Super Jumbo
16) 70% LTV- Hard Money to Jumbo
17) Lot Loans / Land Loans Too!


Thank you,

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404
Fax: 877 440 0909
#204296

Prior Service U.S. Marine Corps
0 votes Thank Flag Link Mon Jan 28, 2013
I lived and worked in Kissimmee from 2007 to 2009. Regarding location, the perfect spots away from traffic yet very close to major attractions are Kissimmee west of I-4, south Clermont and north Davenport.

My biggest piece of advice, do not buy a property without visiting, I often see properties advertised as "very close to Disney", the ones with the very attractive price are usually not close at all. While these properties may look close to Disney on a map it will take a good hour ride to get to your destination.

I have no access to their MLS any more so price wise could not help you very much, I am sure you will find an area specialist to assist you in your venture.
0 votes Thank Flag Link Mon Jan 28, 2013
lacuha372,

I help investors on a daily basis and have 5 contracts for 5 different buyers out as we speak. Choose someone who knows how to service someone with your needs. Give me a call and i will show you how to maximize your ROI and choose a great property for your portfolio.

Check my blog for more information on investing!

Vincent Warren Paige, Jr.
REALTOR® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail: vpaige1@yahoo.com
0 votes Thank Flag Link Mon Jan 28, 2013
Please feel free to contact me I will get you started

561 866 4874

Carline
0 votes Thank Flag Link Mon Jan 28, 2013
Hi lacuha372,

My business partner and I work with Investment Buyers regularly, and are investors ourselves.

Please feel free to contact me directly carlrealtycenter@aol.com. We will be glad to help you and share our personal experiences.

Thanks,

Carl Head
Realty Center-Orlando
0 votes Thank Flag Link Mon Jan 28, 2013
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