Home Buying in Orlando>Question Details

D. Baker, Home Buyer in Kissimmee, FL

To resort or not, that is the question.

Asked by D. Baker, Kissimmee, FL Mon May 26, 2008

When looking for a short term rental property, would you go for a property the has a lower initial investment in a resort that has very nice amenities or would you wait for and go for the single family neighborhood residence with a pool?

All in favor of a resort, please raise your hands.
And all those in favor of single family, but with a greater investment of 20-30 thousand dollars, raise your hands.

Thanks

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Answers

5
Put yourself in the place of a family visiting Disney.
What would you want?
Are you willing to manage a vacation property and maintain it?
Do you want that done for you?
What budget are you working with?
If you get 20 weeks a year rented , you are doing well.
You will never get rich going in this direction.
Your $ might be better spent buying a single family home and renting it out by the year.
The prices are low now and you might get lucky and have a break even scenario for the first year.
Then in 2 to 3 years you will see the residence most likley increase in value since the values are so low now.
I am afraid that a vacation home will appreciate more slowly.
Hope this helps.
Feel free to mail me with any questions.

Robert@smartcity.net
0 votes Thank Flag Link Tue May 27, 2008
Single Family home with a western or southern exposure pool. There are a ton out there, just waiting to be plucked. However it is very important that you hire a great management company. Also buy in Cllermont.
0 votes Thank Flag Link Tue May 27, 2008
Hello Dean,

Will this be your first short term rental home?
Is the single family home new?

If you looking into a resale home, check the neighborhood to check sure it is well maintained.
Some of the older short term rental commuities have more full time residents. Some are maintained well and others ar not. There are some very nice communities that are affordable.

Resort communities will usually stay a resort community. Granted you have higher homeowners association dues, but you will less likely see that community turn fully residential with a just few short term rental homes.

So, it really depends on what your situation and perferences are.
0 votes Thank Flag Link Tue May 27, 2008
Dean,
We feel that if you do the numbers, considering expenses for each type of investment, like Marlene says, will show favorable light for the single family home.
Good luck,
The "Eckler Team"
0 votes Thank Flag Link Mon May 26, 2008
My experience in trying to rent on your own speaks in favor of the private pool at a house. In a resort, you will have fees to keep up the amenities. Check out VRBO to see what kind of rents different types of properties can command. Hope this helps
Web Reference: http://www.MykeTriebold.com
0 votes Thank Flag Link Mon May 26, 2008
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