Orlando Short Term Rental

44 Replies

Looking to buy condo in Orlando. Looking for the right one. Price/deal isnt the most important, i want to find something that will rent consistently with A+ staff and  amenities. Hoping it will cash flow, but at the very least if it pays for itself, ill be pleased. Looking at WorldQuest, looked like a nice resort. Any feedback very much appreciated!

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@Account Closed I live in Davenport and I believe there is a lot of opportunity here. It's only minutes away from Disney and away from the congestion of International Drive. Have you researched this area? I am actually new at STR and trying to find good alternatives. You are right about cash buyers... there are a lot of people from the North purchasing cash around here. Also people from Canada that can get much lower interest rates at home and purchase cash in Central Florida.

I have 5 properties in the Disney area but I focus on single family homes. 

Shoot me a PM if I can help you. 

Sid

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@Account Closed On 5+ bdr what communities do you suggest in Davenport. Champions Gate, Providence, Soltera? or any others?

Thanks for the great info!

Sorry, I just realized that you mentioned Windsor Hills, but have you researched others?

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@Account Closed Thanks, thats helpful! SFR is certainly an option, I just like idea of gated/clubhouse/bar etc. and I would think its easier to manage a condo vs. SFR long distance

@Matthew Wright Most communities resort type (with Single Family Homes) that allow for STR are gated and have spectacular clubhouses, golf courses, bars, restaurants, tennis courts, etc.

@Ariadne Latorre ok gotcha. Good to know. I would imagine there's a price difference between SFR and condos in similar class communities? And do you think SFR rent for more compared to condo?

@Sid Payne @Account Closed and others, we are looking for our second Kissimmee rental and are looking for attached housing in the "first ring" around Disney. Oakwater, Windsor Hills condos and Regal Oaks condos are on my radar, but the prices are stupid right now. Do any of you work with someone local that might have a line on pre-market opportunities or even destressed (if such a thing exists in this market..)

Thanks!

@Matthew Wright I basically am a rookie! I don't want to mislead you, I just know that most resorts here have great amenities and there are resorts that even have townhomes in addition to Single Family Homes. Communities such as Champions Gate have 25% STR permits and the rest are Residential which makes a good balance, nevertheless prices are high and it really depends on the intention. If you want to own your vacation home close to Disney and also be able to do STR then that might be an option. As you can see from other experts' comments, prices might be high. Again, I am not an expert in Central Florida and do not want to mislead you. I myself am trying to do more research as I live here and want to work on the STR and Management side of the Real Estate Business.

Thanks for the replies so far. I'd like to gather a group of Kissimmee "wanna be" experts so we can stay in touch and share insights. The market is big enough for some cooperation I think!

Hi everyone,

Pretty newbie here. I’m also looking for my first vacation/rental in Orlando area. Looking forward to hearing more!

Cheers,

Stan

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In Kissimmee, is vacancy rate typically low enough to expect cash flow if youre buying in mid 100's (at he right resort)? 

also looking in this area and @Sid Payne was awesome enough to send me good info. I'm actually seeing alot of reasonable stuff in Windsor hills from 200-250 now the problem is finding a full service property manager...hope to be headed down that way soon to see some in person!

@Matthew Wright as you are researching make sure you are making the drive to Disney. While Davenport (and Clermont where I have a LTR) may be “just minutes from Disney” it is 30 MINUTES...a bit misleading to me. I have a property in south Clermont that is about the same distance as Davenport from Disney and in my opinion it is to far for a vacation rental. The closer the better!

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Originally posted by @Account Closed :

@Ariadne Latorre

Yes very familiar with the whole area. Davenport was great for a while but all the new construction going in is making it really hard for the older homes to compete and many owners are not willing to do what it takes to keep up with them. The prices on new construction are too high to support the rental rates. I think for single family Davenport is a viable option if you do 5+ bedroom homes but on this case he wants a condo and there’s not a lot of opportunity in Davenport for that unless you want to do Regal Palms for Bahama Bay, both of which are way to competitive. My research has shown that the sweet Spot is 34747 in a 5+ bedroom home (Windsor Hills) but for condo, stay as close to Disney as possible.

Thanks Daria!! I'm seeing a lot of nice Windsor Hills 5+ bedroom homes listed btwn $300-400k. Is that what you're talking about? What kind of STR income would that generate? And does Windsor Hills have an HOA? Any talks of the HOA banning STR? Typically nice upscale neighborhoods like that frown upon STR

Originally posted by @Carter F. :

Thanks for the replies so far. I'd like to gather a group of Kissimmee "wanna be" experts so we can stay in touch and share insights. The market is big enough for some cooperation I think!

 Please include me!

I also hear more and more cities are restricting STR. Any thoughts?

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