Rentals in Kissimmee>Question Details

Bryan, Home Buyer in Kissimmee, FL

I'm thinking of buying a house or condo not far from Disney world (Kissimmee) to rent out. Is this profitable? Thanks.

Asked by Bryan, Kissimmee, FL Thu Sep 30, 2010

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Hi Bryan. All the answers here are from agents in your area saying it is possible if you buy at the right price. That's the key.

Be careful to focus on permanent renters -- that area gets a lot of seasonal pressure from vacation goers. And having spent a few months down there recently, I can tell you it's somewhat overbuilt at present.

I'm not a Kissimmee or Florida agent, but know several wonderful agents down there. If you'd like a referral for an excellent agent, one of my associates can help you find the right investment. Contact me through the trulia form at the right and I'll hook you up with a pro.

In the meantime, I've written a four part blog about whether it is the right time to buy. You can check it out at the link below, and it provides thinking points no matter where you are in the USA.
0 votes Thank Flag Link Thu Sep 30, 2010
Don't forget to factor in the HOA! Many, many people buy to rent for a profit but they do not take into consideration HOA expenses.

Hope it works out well for you!
0 votes Thank Flag Link Thu Sep 30, 2010
Bryan:

It can be profitable if done correctly.
Are you thinking of a long term renter - investment property type?
Or a short-term rental - vacation rental type?
Keep in mind one type has many more expenses than the other.
Also location, property age and development ammenities are big factors if for vacation market.

We have a big market of resort homes in the area, some people break even while others make money.
How much you plan to invest makes a big difference as to what you can buy and it's marketability to vacationers.

Vacation resort homes and foreclosures are my specialty.
Take a look at my website http://www.SearchKissimmeeHomes.com and call me with any questions. I would love to chat with you as to what works and what does not.

Tony Vega
Charles Rutenberg Realty
http://www.SearchKissimmeeHomes.com
0 votes Thank Flag Link Thu Sep 30, 2010
Hi Bryan,

You most likely will not cash flow on this type of investment. I have sold dozens of these and 99% of the time you will just cover expenses. I have put together a vacation rental spreadsheet for investors, you can plug all the expenses in for any property and it will give you a projected ROI: http://www.thepinkflamingo.info/investment-tools/short-term-…

It's important to also pick the right community. These type of investments are great if you just want it to carry itself for five years and then unload and keep the equity. Let me know if you'd like to speak in more detail. Here are the condo communities I recommend based on their rental history and track record:

Regal Palms: http://www.thepinkflamingo.info/local-living/davenport/regal-palms
Bahama Bay: http://www.thepinkflamingo.info/local-living/davenport/bahama-bay
Encantada: http://www.thepinkflamingo.info/local-living/kissimmee/encantada
Terra Verde: http://www.thepinkflamingo.info/local-living/kissimmee/terra-verde
Windsor Palms: http://www.thepinkflamingo.info/local-living/kissimmee/winds…
Windsor Hills: http://www.thepinkflamingo.info/local-living/kissimmee/winds…
0 votes Thank Flag Link Thu Sep 30, 2010
It is absolutely profitable. Great bankowned ones are available in that area and some of them are in great conditions. Just look for the one that do not have high condo associations fees. Since you are thinking of renting it, you need to make sure you don't loose out every month to the association. Will be happy to provide you the services you need to find the right one in the right location for the right price. Good luck to you:)
0 votes Thank Flag Link Thu Sep 30, 2010
It is profitable as long as you get the best possible price for a home. I have a property management division that can discuss average rents for the area and can also assist you in obtaining a renter. The right price and the right marketing it can be profitable.
0 votes Thank Flag Link Thu Sep 30, 2010
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