Market Conditions in Orlando>Question Details

Kamisha, Both Buyer and Seller in Birmingham, AL

How is the rental market in Orlando is? Are investors having a difficult time getting units rented.?

Asked by Kamisha, Birmingham, AL Mon May 26, 2008

After doing some research, I noticed that there a lot of homes available in the area, 25,000 per realtor.com
My husband and I have been succesful with renting and turning a profit so far this year. Because of his job we will be relocating to the Orlando area. We want to continue growing our investment portfolio and begin aquiring property in Orlando. Can anyone give some insight into what the market is like for investors in Orlando?

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Answers

8
Colorado Girl, everyone is entitled to their opinion. Rather clearly your's is not shared by vast majority of the million and a half people who live in this area.
1 vote Thank Flag Link Sun Mar 6, 2011
Its a great time to be in Orlando, so many new homes going up, properties, popping up on the market everyday. The rental Market is STRONG here.

If you need help drop me a line.

VP
0 votes Thank Flag Link Mon Nov 18, 2013
I own a 1 bedroom 1 bath condo unit in Plantation Park Private Residences in the Buena Vista area, exit 68 off I-4.After the bubble where prices dropped so drastically, prices are rising now. My tenant of four years has just moved to Asheville, NC, Two days after I sent an ad for renting the unit, I had two calls. The first caller is moving in two days after the other tenant moved out. I heard from the other inquirer that mine was the only unit available at this time. The office also confirmed this. The location is great-near Disney, near I-4 and near the Premium Outlets. It is well maintained and private. Since I currently live in Pennsylvania, I have been managing things from a distance; hopefully I will be closer in the near future.
0 votes Thank Flag Link Wed Sep 11, 2013
I wouldn't buy in Orlando. There is a reason people are packing up and leaving. We relocated to Orlando last July, and it's a horrible place to be. Maybe if you bought a condo near Disney, you'd be okay since that is all there is to do and the "Mouse" rules everything in Orlando. If it were my money I'd buy a beachfront property or something closer to the beach since that is where everyone wants to be. Buy on the West side of Florida though near the Gulf of Mexico. Good luck.
0 votes Thank Flag Link Mon Feb 28, 2011
Florida is a diverse state, with many things there-culture,huge in agriculture, historical, as well as Disney. Orlando is a close drive to Tampa, St. Petersburg, Sarasota,Ocala, Cape Canaveral. One can go to the beach for a day without having to pay the premiums in insurance for property there.I am sorry for you, that your experience was a negative one. I was born in Flroida 40 miles west of Orlando and 30 miles east of Tampa. There are several relatives who live there, and are doing well for themselves-unrelated to Disney. I have early memories of my grandparents picking oranges, grapefruits, avacados and papyas from trees in their back yard. There is a huge amount of land in central Florida-many horse farms have bred winnnig race horses. The cattle industry is large, and the fishing industry as well. There are many natural springs. I could go on about their fine art centers and museums, and universities. Many foreigners come to Orlando and it could be a major trade center, like Miami
Flag Wed Sep 11, 2013
What part of town will you be relocating to?
I am searching for my next rental home right now.
The prices are right, but here are the opportunities.
Taxes are high
HOA fees are high
Insurance is not to bad.
Rental rates are down.
The renters ability to qualify are down.
Lots of folks are getting kicked out of their home and need a rental and have very bad credit.
The best bet I can see is to be in the hole each month for maybe $200 and hope that the economy gets better and the $300k house you purchased is going to increase by 10% a year and then the rental rates will increae as well. if it is a 5 year plan then the dream looks much better.
That is a tall order and that is why I am being very careful about my next purchase.
Please feel free to get in touch with me and we can swap some stories.
0 votes Thank Flag Link Tue May 27, 2008
Kmisha,
Do your due diligence, make sure you can cover your expenses, Being relocated into the market you invest in is good as you can have more control over your investments.
Good luck.
Rick.
0 votes Thank Flag Link Mon May 26, 2008
Kmisha,
It has long been known that the best time to buy is when no one else is buying. This does not mean to buy blindly but to purchase wisely. Identify the right homes, in the right location, and buy only at the right price.
Without a doube you will be able to continue to grow your portfolio and because there are so many currently for sale does not hurt you either.

Good luck,
The"Eckler Team"
Century 21 Almar and Associates
ecklerteam@comcast.net
941-408-5363
0 votes Thank Flag Link Mon May 26, 2008
We will be relocating over the next year from Birmingham, Al.
0 votes Thank Flag Link Mon May 26, 2008
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