Short Term Rental

[Edward Alicante]

How is the market in the Orlando area for short term rentals and multifamily?

I'm heading to Bcon and would like to visit some potential properties around the vicinity. 

Any reccomendations for agents to reach out too?  

Thanks in advance!  

[Shawn McCormick]

Thank you @Michael Baum

@Edward Alicante, the short term market here has seen a lot of investors put them up for sale. I've spoken to many listing agents and the reason vary from they aren't making money, they bought for some personal use and they don't need it anymore or they purchased a few years ago and trying to take advantage of the appreciation (which was fantastic the last 2 years!) I just put an 8 bedroom under contract last night. It was the cheapest one in the community and we still negotiated $9,000 off and I got them to increase commission for me too. 

So some sellers are very motivated and other are just fishing to see if someone will cash them out so they can take advantage of the equity. I personally have a seller that listed his 5 bed townhouse for sale and have 3 others that have asked me to see if I could find a buyer off market, they all said, we don't need to sell, but if someone will pay me, we'll sell. 

It is important to note, traffic is down here, but I don't think its time to run away from Orlando like some are saying. All investments go thru highs and lows, right now we are in a low, but I have utmost confidence it will come back strong as this market is Global. 

I will be at BPcon as well and already committed to showing some others homes during that time, maybe we could get a little bus tour or something going ;) I might actually be able to put something together like that.