I live in the Orlando area and am interested in buying some rental properties towards the end of next year hopefully saving some $$ and reading in the interim. I was wondering if this market is worth looking at or if other out lying areas in central Florida or even closer to the coast would be better to look at?
@Leonard Mitchell , welcome to BP! You're in the right place. In the Orlando Metro Area, I specifically recommend looking at the outlying towns of Ocoee, Clermont, Minneola, Apopka, Altamonte Springs, Poinciana, Kissimmee, Davenport, Maitland, and Lake Mary for best cash flow. The multi-family around here is in short supply and high demand, so they tend to be overpriced and less likely to cash flow as a result. However, the Orlando Metro Area still offers very strong cash flow opportunities in some zip codes where the rent-to-purchase ratio is already at 0.80 to 0.90% at average list price! You're nearly at 1% without even any distress or negotiation! Looking at the outlying towns is a very important distinction because you'll think cash flow is impossible if you're only looking at the City of Orlando proper, which is only 270,934 people of the metro area's 2.4 million people!
thank you very much for the contact.
Thank you for the list of areas. I'm not overly familiar with many of those areas I will start looking into them.
This is just a guess but would areas in Osceola county have an easier price point for entry into the market?
Also, have you found that any of those particular areas draw a more desirable tenant population?
@Leonard Mitchell , for Osceola County, that will include especially Kissimmee and Poinciana. A lot of reasonably priced newer inventory out there.