I’m considering investing in a townhome near Disney and living there a few months in the winter then having short term rentals through the summer. So far I like Festival and Soltara because I can have a small private plunge pool in the lanai plus the resort pools. Does anyone know what capacity/income I could generate? I’d just like to off set the payment/upkeep initially.
I did some deep research on this same idea last year. My final decision was to keep investing in my market (Dallas Fort Worth) and just spend the money to rent a place in Disney World. It came down to potential income versus expenses. Management is tough...
I read something once that I keep going back to. "Buy basics and lease luxuries."
Trying running a STR in your own home town first, to get your toes wet. Then venture further into deep waters. If all goes well, you'll be doing the wango tango all the way to the bank, with a Jack and cola.
We plan to live in the area the winter of the year each year..snow birds. Which is why I'm considering Short term rental property so it doesn't sit empty all summer. I'd like to off set the mortgage and HOA a bit as well.
Thanks @Lucas Carl.. After almost a year of 4 STR around Disney World, i find that area super saturated but still has potential to make steady income.. My outlook on STR compared to my LTR is that it still makes more than my LTR so i'm sticking with it. @Rhonda Hasley there's definitely lots of folks with your same story down where I invest as a example the house next to one of my rentals. They are currently down here for the winter and will be going back next month. They have a MGMT company manage folks renting the place while they are away and they are down here 5 months out of the year, definitely aren't making crazy money but enough just to not sink with the bill.
Thank you @Chai Xiong I appreciate your thoughts on the matter. I'm not trying to make crazy money, Just a decent investment with the cash I have and some help to get the mortgage paid off quicker. At some point after retirement in 8 years we may move there permanently. A possibility anyway.
@Chai Xiong thanks for the info! Do you recommend any management companies in the area / any idea of the rates?
@Thomas Dunleavy there's so many in the area and they are all fighting for attention just call them up and make a deal ;)
sounds good, i'll give a few a try! Assuming most charge 10-20%?