Rental Income in Orlando
I'm looking into Orlando to buy a property for income from long term rentals. Why Orlando? Because it's regarded one of the growing metros attracting jobs and people. It's easy for me to get to - 2hr flight.
But scouring the Internet, I see most of the chatter about investing in Orlando died in 2014. Want to get some opinions - is it too late? What do locals feel about the long term trajectory of the city itself?
I found 2 areas I like - Thornton Park, and Dr Philips. First regarding Thornton, it has great vibe. Would it make sense to buy a 1BR - easy to find single renters?
Regarding Dr Philips, are there undesirable areas? Regarding rental prices, is it easy to find renters willing to pay 1700+ for a 2 or 3 BR? Or am I better off buying a cheaper 2BR and finding renters in the 1000$ category?
I considered Lake Nona but it seems so far away - it's growing now but how viable is it long term?
Btw I'm not looking for any fixer uppers - just rentals ready to go.
Appreciate all opinions and guidance.
Most Popular Reply
$1,200 to $1,500 is the sweet in Central Florida. I can usually fill vacancies in that range in 2 to 3 weeks max. When it gets up into $1,700 and up if the location is great it could be the same but if it is average location could take up to 2 months.