In My Neighborhood in 34759>Question Details

Julia, Home Buyer in Los Angeles County, CA

rental potential in kissimmee?

Asked by Julia, Los Angeles County, CA Wed Feb 27, 2013

I am interested in having property investment in kissimmee, but having some concerns after reading this news. http://money.cnn.com/2013/01/17/real_estate/foreclosure-neig…
It reports, "The foreclosure crisis is slowly easing, but in some of the nation's neighborhoods it feels like it has just begun." It shows Kissimmee is one of 100 hardest hit neighborhood.
I am wondering how the house rental potential is in kissimmee. I mean if they are easy to rent out, or it may stay vacancy after buying it. Besides, what percentage of rent income do the HOA management companies charge? I heard usually is 8%, but my friend told me some companies only charge 3%. It seems vary a lot.
Could anybody please share their information? Thanks a lot.

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Kissimmee area on average has had about 10% to 15% price appreciation during past year alone (depending on the area). It got hit pretty bad back I n 2008 through 2010 but it is recovering at an amazing rate.

I bought a house in Kissimmee for one of my clients 4 months ago for $197K and they now have to move out of state due to their work situation and their home is now worth around $230K which not a bad move for only 4 months right?

Vacancy is of course can vary depending on the area but Kissimmee is a major city so I do not foresee that much problem with renting out your home as long as you are in a demanding area.

Management companies usually charge anywhere between 8% to 10% of the monthly rent to manage your home.

3% is usually what Realtors charge to sell the home. So I assume that is what your friend has referred to.

Below is the link to some homes in Kissimmee just so you see your options:

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 142 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
0 votes Thank Flag Link Thu Feb 28, 2013
I see you are asking about 34759, which means you are looking at pretty cheap housing. Why do you think prices are so low in 34759? Yes it was very hard hit by the recession and yes foreclosures are still a problem there. It is a lot better then it used to be and will doubtless continue to improve.

Let me give you the best advice you will ever get about this area. Do not buy here site unseen. Come here in person and check out the area before you invest.

Rental demand is great becuase so many people lost the homes they owned, but obviously they still need to live somewhere.

HOA fees have nothing to do with rental management. Read my blog: http://www.trulia.com/blog/mark_lemenager/2011/09/hoas_and_c…
0 votes Thank Flag Link Thu Feb 28, 2013
Hi Julia,

"Kissimmee" is a large area which encompasses many zip codes. 34759 which is referenced in the link in the article you cited is a residential area which most would call Poinciana, FL. I would say it, and neighboring zip codes 34758 and 34746, have pretty good long term rental demand. It's a growing and pretty popular residential area.

Kissimmee also includes zip code 34747 which contains the closest short term rental approved communities to the Walt Disney World Resort. Certainly there is much rental potential there. The Orlando area welcomed a record breaking 55+ million visitors in 2011 and preliminary reports from VisitOrlando, the state's tourism marketing firm, last week indicate another 2.3 percent increase for the state as a whole in 2012 to 89.3 million visitors with a record breaking 10+ million overseas visitors.

At last report in June, the theme parks all posted attendance gains and Magic Kingdom at Disney remains the most attended theme park in the entire world. We have 7 of the top 10 theme parks in North America and 5 of the top 10 in the world. All minutes from Kissimmee!

My focus is Disney area vacation homes / short term rental properties. If that's the type of rental you had in mind, feel free to contact me to explore things further. I'm available to answer your questions. The firm I work for has been in business for 20 years providing quality vacation rentals near Disney. I can help with Sales as well as Property Management and Rental in select, well performing, communities. We have a long term rental division as well.

(In our area, you typically have fees to an HOA(s), Home Owners Association(s). The commission and or fee to your hired Property Management Company is a separate matter.)

Best regards,
Brent Ferry
info@bferryhomes.com
Global Real Estate Services

http://ChampionsGateFlorida.com/
http://www.bferryhomes.com/ContactMe
http://www.bferryhomes.com/SearchProperties/MLS
http://www.bferryhomes.com/VacationRentalSearch
http://www.bferryhomes.com/DiscountAttractionTickets
Web Reference: http://www.BFerryHomes.com
Web Reference: http://www.BFerryHomes.com
0 votes Thank Flag Link Wed Feb 27, 2013
If you have never owned an investment i.e. rental property you need to get all the information you need, not only what and where to buy to actually be able to rent it out, but also the financial side of investment versus income, and taxes, expenses, repairs and times the unit will be vacant, and either having to be an active involved landlord or hiring a management company to take care of all that is involved. and of course that will be for a fee.
Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
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HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Wed Feb 27, 2013
Hi Julia,

As a Realtor, and as an owner of a Property Management Company, I can tell you exactly what you need to know. We started out as foreign investment home owners renting our home in Kissimmee in 1993 and we progressed from there. There is a ton of things you need to know and understand before you buy, not only the right house, but the right location is critical to your future financial well being. Feel free to call me direct and I will be happy to discuss all aspects of rental home ownership. Thank you

Mike Hunter
Only Way Realty LLC
http://www.michaelhunter.us
407 709 1911
0 votes Thank Flag Link Wed Feb 27, 2013
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