Starting out in Orlando FL!

[Carlos Reyes]

Hey Everyone,

I am looking forward to jumping into real estate in Orlando, FL! I am listening to the podcast and building my plan. I am taking a look at student rentals near UCF and any multi family available. I would love to hear how people are building their portfolio in the orlando area to see what has worked and what hasn't! 

[Levi Bennett]

Hey man, I'm not a fan of multi-family in central Florida. They're not that common (not compared to most of the country anyway) and they're highly competitive. In my mind, people pay way too much for them here because they've gotten so popular online and elsewhere in the country. 

I'm a big fan of sticking to what makes your market unique. Find the niche that nobody else can compete with and force your way in. There is lower competition, and it's easier to get on the short list of experts. 

What's the niche market in Orlando? Easy. Vacation rentals. There are more here than anywhere in the world. We're the first US city to have more than 60 MILLION visitors in one year. Less than a fraction of a percent are staying in vacation rentals because they either don't know about them, or there isn't occupancy. So with some marketing charm, it's not hard to get occupancy. Short term vacation rentals are also more affordable here than most other places in the US where they are popular (like coastal towns or in the mountains). They don't need a view, they don't need much of anything, just close enough to attractions. Orlando sells itself! Anyway. Other than that, you should be a realtor and sell new homes. There are literally thousands going up in Lake Nona, around Disney, and on the outskirts. They pay high commissions. 

Orlando is a great market. Not a fan of multi-family. Also, college students are known to be the best tenants in the world either.