Emily, Home Buyer in Toronto, OH

Canadian looking to invest in a condo in Orlando area. $150k budget, family friendly, resort style, furnished. Need to rent out short term.

Asked by Emily, Toronto, OH Wed Apr 3, 2013

Any comments on: Bella Piazza, Vista Cay, Lake Buena Vista Resort & Windsor Hills?
How about Waterstone Courtyard Villa's? Is it risky to invest in a new build?
I'm just thinking they would not have an established customer base, therefore, limiting rental potential?
We will be visiting Orlando in May and would like to see some properties.

Help the community by answering this question:

Answers

10
Vincent Paige - RE/MAX’s answer
Emily,

What is your price range? How long are you going to hold? Check my recommendations.

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
0 votes Thank Flag Link Thu Apr 11, 2013
I have been working with many clients lately from Canada, and like you, a lot of them are looking for a second home that can double as an income producing investment.

I have a very clear understanding of how this niche market works and what it takes to analyze the properties income and expenses so that you make a sound investment decision.

I will be honest, your price point is a little too low to buy a single family home in a class A resort community. I am working with another Canadian buyer looking in this market and what I am showing them starts in the 180's. After reviewing the financials on several homes in this category, I am please to see several are booked 30-40 weeks per year.

The key to a successful STR is clearly offering a good quality product and marketing it to the hilt. A management company that does their job well is critical too.

I would be happy to answer any questions you may have and if you are looking for any references, I would be happy to get those to you as well.

I would love the opportunity to help you and I welcome you to contact me.

Melissa M. Gerace
Real Estate Consultant/REALTOR
Premium Properties Real Estate Services
407-361-1694 Cell/Text
melissa.m.gerace@gmail.com
1 vote Thank Flag Link Wed Apr 3, 2013
Hello Emily,

I deal with a lot of Canadians in the Orlando market and I would recommend worldquest resorts or blue heron these are in a area and with great return on rental. I could send you a list if you would like? Let me know what you think send me your criteria to leoncruz@infinityreinc.com.

Leon L. Cruz
Broker
Infinity Real Estate Services,inc.
678-600-0934
0 votes Thank Flag Link Thu Apr 4, 2013
Hi Emily,
I work with many Canadians and also have a team of various vendors who do also including property managers, attorneys, accountants, and more. For more info please go to my website (OrlandoRealtyOnline.com) and click Canadian Buyer from the homepage.

I agree with Mark below that Windsor is the best candidate on your list. Vista Cay is nice and has a great location but prices will be 200+ for anything in good condition. I also agree it is more difficult to cash flow positive in a "Condotel".

Let me know if I can help or answer any questions.

Don Shippey
REMAX Properties SW
donrshippey@aol.com
OrlandoRealtyOnline.com
0 votes Thank Flag Link Wed Apr 3, 2013
Emily,

Just noticed your second question, there are differences in single family and condo's when dealing with short term rental; pricing, rental rates and days rented are the big three.

Select a Realtor and call them to bounce ideas and questions back and forth as one question leads to two.

Good luck and if I can help further please call or email me at the contact information below.

Dave Lowe, real estate broker
407-451-3145 ~ davelowe@orlandohomestore.com
Graduate Realtor Institute
Electronic Marketing Professional
Real Estate Property Management
Certified Distress Property Expert

Top 1% of Realtor Profiles on Trulia ~ Click My Picture to View
0 votes Thank Flag Link Wed Apr 3, 2013
Emily,

I agree with taking control by using a property management company that allows you to help with the bookings with self promotion.

Print business cards that have a website with complete details on your property you can hand out around you community.

Place the website address on you cars rear window with 'RENT MY DISNEY AREA VACATION HOME' just above. If you drive a vehicle with side windows like a Ford Escape place it at the top of those also.

These are just 2 of the ideas I recommend to vacation home buyers I have worked with throughout the years, other agents have picked up on my ideas and have started to say the same.

I also go one extra step by offering home buyer rebates to help with all the cost involved in closing on the home.

If I can help further please call or email me at the contact information below.

Dave Lowe, real estate broker
407-451-3145 ~ davelowe@orlandohomestore.com
Graduate Realtor Institute
Electronic Marketing Professional
Real Estate Property Management
Certified Distress Property Expert

Top 1% of Realtor Profiles on Trulia ~ Click My Picture to View
0 votes Thank Flag Link Wed Apr 3, 2013
Are there any homes in this price range, in a resort style community that allows STR?
Are there any advantages in buying a house vs a condo?
0 votes Thank Flag Link Wed Apr 3, 2013
Emily,
There are houses in areas in and around Orlando, Kissimmee, and Davenport that allow STR. House VS Condo is a preference. The condo association will take care of the grounds...you are responsible for the rest usually. Houses are easier to maintain with a good property management company especially one that deals with vacation rentals. I have a history with some of these. Email me and I can help you with your search.
Flag Wed Apr 3, 2013
Start with my blog on this topic: http://www.trulia.com/blog/mark_lemenager/2011/08/vacation_c…

If you need to rent it out, then I assume you need to make it pay for itself. Only way to do that is by taking control of bookings.

Of the places mentioned, Windsor Hills would be far and away number one and $150,000 can still get you a condo there (barely). LBV Resort is run as a condo hotel and I'm not aware of any of those that produce postive cash flow (love to have someone prove me wrong with some real numbers). $150k won't get you into Vista Cay any more, sorry. The other two are getting pretty far out, although being walking distance to the shops is a nice plus at Bella Piazza.

Did you know that you can check out my references and the references of the other agents that answer right here on Trulia? Just click on our pictures to go to our profiles and read what our clients say about us. Pick the person you’d be most comfortable to work with. Of course I hope it’s me, but if not then best of luck to you. Hope to see you in May.
0 votes Thank Flag Link Wed Apr 3, 2013
Give me a call and I will help you find this house,
0 votes Thank Flag Link Wed Apr 3, 2013
Hi Emily,
Thanks for turning to Trulia with your real estate questions.

I am experienced in Canadian Investors (You can check my profile for recommendations).
I'd love to help you with information and a search for the perfect investment rental.
Email me and we can get started.

Carol Bauza
Charles Rutenberg Realty
carol@carolshome.com
0 votes Thank Flag Link Wed Apr 3, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer