Home Buying in Orlando>Question Details

Jackie Young…, Both Buyer and Seller in Connecticut

What areas are best to invest in? We have about 100K

Asked by Jackie Youngberg, Connecticut Thu Dec 25, 2008

What areas might hold better return rates in the future? Orlando, Davenport, or Kissimmee? Also we need to make sure to combine this with where we can find good rental rates while the housing market comes back. thanks! Jackie

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Hi Jackie,
I would suggest The Rersearch Triangle in NC.That is Charlotte, Raliegh/Durham. These are quite a ways from you, however that is where I would put my money. Seriously though the area you mentioned has no appeal for investors, or I should say smart investors.

If you wish to stay in the state try just north of Hillsborough County(for the life of me I cannot recall) but maybe Manatee County, but stay just east of the wind zone for HOI. Thats my 2cents.
0 votes Thank Flag Link Sat Dec 27, 2008

If you are looking to purchase a home or condo and not going above the 100K then I would look in Metro West as you can find sales and be able to retain some of the 100K to offset cost until the rental market price becomes stable (right now it's just about warm bodies).

Davenport and Kissimmee are tourist areas and unless you want to get into the vacation rental market and tons of competition I'd be careful as the resale could be tough as I personally know many investors buying many of these and unless you can play with them I would not. That is part of the problem we have now, buyers misdirected just for the sale.

I know and have read many of the agents posting here in my area and don't feel this is their motive (Marcus, Greg).

Now if you are looking to go above the 100K I would be looking at Lake Mary (voted the #4 best city in the U.S. out of 10) and grab a foreclosure.

Then there is the Lake Nona area with all the medical on the way, can't go wrong as docs, nurses, admin and the tons of research jobs that are on the way.

Again 100K would offset a purchase and the rent should pick up the rest.

I can send a foreclosure list or new home (builders are also giving deals)

Currently helping buyers and sellers due to our knowledge and service but don't forget our rebates, after all every penny counts.

Dave Lowe broker
GRI / e-PRO / GREEN designations
Web Reference: http://two4oneoforlando.com
0 votes Thank Flag Link Fri Dec 26, 2008
Jackie, You are asking the right question and you can never have to much information to compare when making a large financial decision.

Have you made use of this?..http://www.trulia.com/home_prices/Florida/Orlando-heat_map/
An interactive map you can use to get a lot of info on the areas you asked about..

This site...http://www.bhgrealestate.com/Views/Look/Default.aspx ...You can get info on housing trends, crimestatistics, schools ect..all from public records...you can break it down into neighborhoods

For your rental trends ect..Try here...http://www.zilpy.com/ it's a great site to get a general idea of rent comparisions and information related to rentals

Lastly...http://www.rentometer.com/ If you are thinking of a specific property you can type in the address and it will run a comparision with other rentals in the area..

The more information, the better...I wish you luck, Dunes
0 votes Thank Flag Link Fri Dec 26, 2008
Davenport is too short-term rental and dependent on tourism. Short-Term rental cashflows are usually too erratic and management fee's too expensive for my personal taste. It would be perfect if you were looking to have use of the home on occasion though.
Same goes for Kissimmee.

Orlando has MANY different area's, I personally like the area around UCF and Eastern Orlando for rentals. Good public schools, plenty of families, great shopping, close to MAJOR employers, and there is a steady influx of students that help keep rental rates up. There also happened to be a building boom in the area and many are now in foreclosure driving prices down. It is cheaper for most people to now buy in this area than rent!
0 votes Thank Flag Link Thu Dec 25, 2008
There's much to consider... for example, Davenport and Kissimmee in Osceola county allow for short term rental whereas most of Orange requires a six month lease... we're a buyer broker in Orlando and can help you through the maze if you like.... see our site below... good luck!
0 votes Thank Flag Link Thu Dec 25, 2008
We instruct our investors prior to purchasing research area via following websites: city, police department, ISD, local media published articles via google search.

RENTAL market is HOT in any area of country, have your buyers agent pull local comp's prior to submitting an offer where you can run a check on monthly out go expenses vs. income
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Thu Dec 25, 2008
jackie your best bet is to hire a buyer broker who can assist you in answering your questions and getting you some potential properties to look at. In most cases you can negotiate a contract that it does not cost you anything out of pocket to hire a buyer broker, they get paid from the listing from the fee offered in mls and paid at closing. this way you have somneone to get you listing sas they come onto the market and are getting info to help make the best buy for you. good luck with your purchase,
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Thu Dec 25, 2008
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