Hi DP, Most of the other answers seem to be rather short on details, so let me give you some solid ideas to check out. We have quite a number of really excellent investment opportunities here in Central Florida. I work the southern half of greater Orlando let me give you a few quick ideas for you to research.
LONG TERM RENTAL - Anything in or near Lake Nona in the area of the new medical city. Lake Nona is the City of Orlando's southeast corner. The medical city is an investment of billions of dollars. Lake Nona is also the southern end of "Inovation Way" a mega development by Olrando and Orange county that runs from the University of Central Florida to Lake Nona. Budget wise expect to pay anywhere from $50K for nice condos in Hunter's Creek to $300K for a home in VillageWalk to $500K for something a bit grander.
SHORT TERM RENTAL - Well, what can I say, we are the short term rental capital of the world. Over building, the bubble, and the world recession has created the perfect storm for vacation property investors. Many very good quality resort properties are selling for 1/3rd of what the originally sold for just a few years ago. Will they ever get back to the prices of 2006? Not in my lifetime, but will they get back to say 2/3rd's of those prices? Very realistic possibility. And guess what 1/3rd to 2/3rds will double the value of your investment.
The short term rental opportunity will not last forever. Prices are already going up. For example, I was showing at Regal Palms yesterday. Last summer you could pick up a 4 bed townhouse there for $75,000. Today it takes $90,000. That's a 20% increase in price.
My short term favorites include Floridays, Runaway Beach Club, Lucaya Village, Terra Verde, Seven Dwarfs, and Venetian Village to the east of I-4. These all have great locations for any attraction. To the west of I-4 my favorites include Caribe Cove, Oakwater, Windsor Palms, Windsor Hills, Emerald Island, and Regal Palms.
Like many other real estate professionals I too have a number of Canadian clients. If Central Florida is in your plans, then I'd be happy to help you out. My website includes a section for beginning investors that you may find helpful.
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