Marc Ward, Home Owner in Maryland

I was looking at the Parkway Palms condo.Is it a good investment?

Asked by Marc Ward, Maryland Wed Feb 20, 2013

Here are the numbers I found..."365 Days in a year X Average rental rate of $96 a night (current rates from hotel website) = $35,040 per year in potential income. Occupancy rate of 70% = gross income of $24,528 Estimated costs of 40% of income leaves you with profit of $14,716 Subtracting HOA costs of $603 a month (covers building maintenance, insurance, utilities use of all amenities) leaves a profit of $7,480 Finally subtract taxes of $665 a year and your potential profit is $6,815 a year." Am I missing anything?

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4
Cathy Starkw…, Agent, Celebration, FL
Tue Apr 23, 2013
Correct, the condo/HOA fees do include just about everything to run your property. You'll also need to factor in management fees for this community as well as booking fees. Check with onsite PMC to see if your occupancy rates are on target and most current fees applicable with the management - Call The Palms Hotel and Villas - phone: (407) 396-2229.

Parkway Palms are quite popular for short term rentals due to the proximity to the parks and the prices are extremely low. Be sure to work with a licensed Realtor who also understands the short term rental market and how it works. Someone with experience in STR's and can provide accurate ROI information would be a solid choice. Your Realtor can also provide market analysis and comp sales to understand the appropriate offer price.

If you have additional questions, please let me know... I'd be happy to help.

Cathy Starkweather
01.407.274.8476 / cathy@jerrybarker.com
Realtor & Vacation Home Specialist
La Rosa Realty, LLC
Celebration, FL
0 votes
Alan Martin, Agent, Orlando, FL
Fri Mar 22, 2013
we have listed and sold a bunch of units on Parkway Palms. Investor buyers seem very happy with them . We ask sellers to provide their statements for the past year so th buyer can see exactly what they are getting into. If you would like more help with this or any other property here then I can help.

alan@frontlinefloridarealty.com 407 832 4888 http://www.frontlinefloridarealty.com
0 votes
Maryrose Bia…, Agent, Kissimmee, FL
Thu Feb 21, 2013
The area where you are inquiring about is located right outside Disney World that caters to both long term and short term rentals. You want to be sure that you ARE working with a licensed Realtor and that can very easily be verified by visiting the website myfloridalicense.com and doing a search by the persons name. I am also a licensed Realtor that can work with both buyers and sellers, and I speacilize in Property Management with Prudential Results Realty. If I can assist you with the purchase of your investment property or with rental management of your investment property, I would be happy to discuss this with you.

MaryRose Bianchi
Realtor-Property Manager
Prudential Results Realty
206 W. Oak Street
Kissimmee, FL 34741
407-343-8137 or by email at: maryrosebianchi@aol.com
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Thu Feb 21, 2013
Do read my popular blog on this topic.

http://www.trulia.com/blog/mark_lemenager/2011/08/vacation_c…

In terms of your analysis, where did you get estimated costs of 40% of income? That seems very optimistic.
0 votes
The 40% is the mgmt fee to rent out the property. With the prices of the condos ranging from $14000 to $20000, I could pay with all cash and not have a mortgage.
Flag Thu Feb 21, 2013
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