LTR in and around Orlando

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LTR in and around Orlando

Thomas Lin
Investor · CA · Member since 2022 · 7 posts · 1 vote

Hello all,

I am an out-of-state investor. My wife and I are looking to dip our toes into our real estate journey by purchasing property in or around Orlando. We like Florida in general but in particular Orlando because we visit Disneyworld frequently and because it is a low-risk area in terms of hurricanes (the other area in Florida we are looking at is Tallahassee, for the same reason). Although it seems STR opportunities are a very popular way to get into the Orlando market, we are looking for LTR opportunities. We would like to purchase a SFH or MFH. Our goals are to build equity and increase the worth of our portfolio, though it would be nice plus to be able to cash flow positively if possible!

Are there any neighborhoods you guys can recommend for us to start looking at? 

Thanks a lot!

Thomas.

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Tyler GibsonBusiness Member
Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
3y
Quote from @Thomas Lin:

Hello all,

I am an out-of-state investor. My wife and I are looking to dip our toes into our real estate journey by purchasing property in or around Orlando. We like Florida in general but in particular Orlando because we visit Disneyworld frequently and because it is a low-risk area in terms of hurricanes (the other area in Florida we are looking at is Tallahassee, for the same reason). Although it seems STR opportunities are a very popular way to get into the Orlando market, we are looking for LTR opportunities. We would like to purchase a SFH or MFH. Our goals are to build equity and increase the worth of our portfolio, though it would be nice plus to be able to cash flow positively if possible!

Are there any neighborhoods you guys can recommend for us to start looking at? 

Thanks a lot!

Thomas.

There are plenty of great neighborhoods in the Orlando area it's only depends on what your budget is. There's also some great areas about an hour outside of Orlando where you're likelihood actually find the property that will cash flow positive. Orlando tends to be more of an equity market where it is hard to find properties they'll cash for a positive unless you're getting them below market value direct from the seller.
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  • Tyler GibsonBusiness Member
    Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
    3y
    Quote from @Thomas Lin:

    Hello all,

    I am an out-of-state investor. My wife and I are looking to dip our toes into our real estate journey by purchasing property in or around Orlando. We like Florida in general but in particular Orlando because we visit Disneyworld frequently and because it is a low-risk area in terms of hurricanes (the other area in Florida we are looking at is Tallahassee, for the same reason). Although it seems STR opportunities are a very popular way to get into the Orlando market, we are looking for LTR opportunities. We would like to purchase a SFH or MFH. Our goals are to build equity and increase the worth of our portfolio, though it would be nice plus to be able to cash flow positively if possible!

    Are there any neighborhoods you guys can recommend for us to start looking at? 

    Thanks a lot!

    Thomas.

    There are plenty of great neighborhoods in the Orlando area it's only depends on what your budget is. There's also some great areas about an hour outside of Orlando where you're likelihood actually find the property that will cash flow positive. Orlando tends to be more of an equity market where it is hard to find properties they'll cash for a positive unless you're getting them below market value direct from the seller.
    [email protected]407-590-9858
    GPG Team 596 Reviews
    WebsiteView Page
    2Reply
  • Shawn McCormickPro Member
    Realtor · Central Florida-Orlando · Member since 2014 · 1k+ posts · 892 votes
    3y

    @Thomas Lin congrats on getting started. Orlando is a great place to invest, we've enjoyed over a decade of appreciation, mostly double digits! So building equity should be easy especially if you get a property that you can add value to. 

    As far as neighborhoods, that would be a conversation with you on what risks you want to tolerate. Think school scores, employers, average income, families vs young professionals etc. Most investors want a great deal, but realized most of them are in areas that they won't invest in. 

    One idea to consider would be new construction, builders are offering pretty good incentives on quick move in homes. You will have equity built in by price increases that the builder forces, a brand new home with warranty (no cap ex) and be able to justify higher rents due to it being new. You lose the value add aspect, but have far less worries.

    Happy to have a call and go over some ideas with you.

    Best of luck!

    1Reply
  • Chris Levarek
    Real Estate Syndicator · Phoenix, AZ · Member since 2018 · 903 posts · 1k+ votes
    3y

    Ocala seems to be doing well. 1 20 drive but as a LTR, could be a good option :

    I just posted the top markets for 2023, so this is why Ocala popped up. https://www.biggerpockets.com/...

    We have a str in Kissimmee, FL. Oversupplied at this point.

    1Reply
  • Thomas Lin
    OP
    Investor · CA · Member since 2022 · 7 posts · 1 vote
    3y

    Thank you for your thoughts everyone!

    0Reply
  • Drew C Grossman
    Investor · Jacksonville, FL · Member since 2019 · 135 posts · 106 votes
    3y
    Quote from @Chris Levarek:

    Ocala seems to be doing well. 1 20 drive but as a LTR, could be a good option :

    I just posted the top markets for 2023, so this is why Ocala popped up. https://www.biggerpockets.com/...

    We have a str in Kissimmee, FL. Oversupplied at this point.

    Thanks for sharing this article @Chris Levarek, I own and manage a handful of new construction SFR long terms rentals in Ocala and this market has been my focus for expansion. Working on Duplex new construction projects there currently.


    @Thomas Lin - what are your investment goals? On top of Ocala, I would look into sections of Jacksonville, Deltona, Debary Lake Nona and Palm Coast.  

    2Reply
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