mike330i, Home Buyer in Orlando, FL

From an investor's perspective, which is easier to rent out? 1 bedroom, 2 bedroom or 3 bedroom condo? Thanks.

Asked by mike330i, Orlando, FL Wed Aug 8, 2012

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If you are buying in Orlando, which is a small city by all standards you should look into single family homes not condos. A 3/2/2 SFH or 4/2/2 has the best rental chances on the market. Also almost guaranteed you will end up with smaller HOA fees and therefore more available income. Also future resale value will be significantly better and easier to find a buyer.

Tony Vega
La Rosa Realty
2 votes Thank Flag Link Thu Aug 9, 2012
Always amazed by answers here. Condominium is a form of ownership. Townhouse is a style of property. Many townhomes are in fact condos. Savannah Pines near Lake Nona being a great example.

In the current market there is no problem renting just about anything. I always tell my investors to buy as many bedrooms as they can afford, but in the case of apartments in multistory complexes I can see the 2 bedroom over 3 bedroom arguement.

Good luck.
2 votes Thank Flag Link Wed Aug 8, 2012
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From an investor's perspective, as well as a landlord and a Florida Mortgage Broker's perspective, stay away from Condos!

They are considered Toxic Properties by Lenders and:

1. have less of the population looking to rent, basically an Apartment
2. the financing is not near as good as the financing on a Townhome or Detached property
3. the finaning in the future, for anyone trying to buy it will not be as good
4. they'll likely never appreciate at the same pace
5. the HOA's are generally a lot higher

Stick with a 3/2 2 car garage Town Home if you don't want the upkeep, but don't want a Toxic property.


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Steve McRory

Pro Option Mortgage/Florida

http://www.pro-option.com

steve@pro-option.com

Ph: 888 662 4404

Prior Service U.S. Marine Corps

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2 votes Thank Flag Link Wed Aug 8, 2012
what credit score will qualify before i consider
Flag Sun Feb 16, 2014
All of them, location and the condition of the property are the most important issues to get a better return of your investment.
0 votes Thank Flag Link Wed Aug 8, 2012
Hi mike330i,

Thanks for turning to Trulia for all of your real estate questions.
You'll get alot of great answers from alot of great agents.

From an investor's prespective, the best condo size to rent would be a 1 or 2 bedroom.
As far as condos are concerned....you'll get a higher rent from a 2 bedroom. There are some great deals out there on 1 and 2 bedroom condos too!!!!

I deal with investors purchasing condos all the time....if I can help, let me know!

Carol Bauza
Charles Rutenberg Realty
carol@carolshome.com
0 votes Thank Flag Link Wed Aug 8, 2012
Actually for condos, 2 bedrooms are easy to rent because for a 3 bedroom it means more family members which normally prefer a single home. In general, I always reccomend investors to buy single homes and/or townhomes which rent twice faster than condos and normally HOA fees are also lower.
0 votes Thank Flag Link Wed Aug 8, 2012
Hi Mike,

2 Bedrooms or more is easier to rent out.

James, III
0 votes Thank Flag Link Wed Aug 8, 2012
From an Investor's Agent perspective, I believe it is easier to rent out 2 and 3 bedroom condos as long as they are affordable for the market value in the area. People still want the space of having 2 or 3 bedrooms. Most people want to know that they can have a guest over and have the space to entertain during the Holidays or for Family visits. At least 2 bedrooms is the way to go.

Sharlene R. Prince
Ladyrealestate1
Exit Realty Central
ladyrealestate1@gmail.com
0 votes Thank Flag Link Wed Aug 8, 2012
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