Vacation Rental Property in Florida

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Vacation Rental Property in Florida

Sonja Razmovski
Markham, Ontario · Member since 2015 · 13 posts · 3 votes

Hi fellow BPers!

We are interested in purchasing a vacation rental property in Florida (we're in Toronto). Does anyone own one that can share experience? Best communities to look at (perhaps between Disney and Universal)? Are they worthwhile? Better vacation rental markets to look at?

Any advice/insight is much appreciated!

Thanks!

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David McBrayer
Rental Property Investor · Winter Haven, FL · Member since 2015 · 96 posts · 24 votes
10y

The Winter Haven, FL area is a nice place and the prices are not as bad as one may think.  There are still some great deals around.  It is about 45 minutes to an hour from Orlando but not near as congested.

I own rental properties in Winter Haven and I was born there.  The city has 50 lakes in it and you will see some of the best sunrises and sunsets you can see in Florida.  It is also about the same distance to Tampa.  So it is Centrally located and is now the home of Lego Land FL.  I have been really investing in Winter Haven the last year because the deals are much better than I can get here in Ft. Lauderdale or Pompano Beach, FL.  The rents are about the same but the cost of the properties is much less.  So more cash flow.

The best of luck to you in your new ventures.

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  • Bea Maia
    Investor, RN · Warrenville, IL · Member since 2015 · 13 posts · 2 votes
    10y

    Hi, I was just browing the forum for some info on short term rentals in Saint Petersburg area, and found this conversation that will probably interest you:

    https://www.biggerpockets.com/forums/530/topics/19...

    Good luck!

    1Reply
  • Sonja Razmovski
    OP
    Markham, Ontario · Member since 2015 · 13 posts · 3 votes
    10y

    Thanks Bea Maia!

    0Reply
  • Account Closed
    Mountain View, CA · Member since 2015 · 8 posts · 0 votes
    10y

    Hi Sonja, my agent from Tampa says that South Tampa and Clearwater areas are good for those kind of rentals. But in Clearwater You may need to pay little extra insurance.

    0Reply
  • Stephan K.
    Rental Property Investor · Clearwater, FL · Member since 2013 · 151 posts · 41 votes
    10y

    In Clearwater (and I do not know about other areas) the zoning needs to be right for short term rentals!

    1Reply
  • Gavin WelchPro Member
    Real Estate Broker · Lakeland, FL · Member since 2011 · 305 posts · 181 votes
    10y

    @sonja razmovski   Orlando vacation rentals can be good or bad.. They don't technically allow short-term rentals in Orange County (orlando) although I think its done alot.  The best homes to buy are the big ones 4 to 5 beds with pools and the garages are converted into play rooms.  These properties can at least break even, but if you do some extra marketing yourself you can do well on them. 

    Currently there are lots of these properties on the market in varying price ranges depending on location. 

    Message me for more info.

    Gavin

    0Reply
  • Zach KiddPro Member
    Real Estate Agent · Clearwater, FL · Member since 2015 · 176 posts · 148 votes
    10y

    Hi Sonja!

    You specifically mentioned the Disney / Universal area.  I'm sure it's obvious that the surrounding areas have been in high demand for decades.  

    Finding a good deal in those areas won't be easy or inexpensive. Despite the demand, the cash flow won't be miraculous either.

    If proximity to the House of the Mouse is critical, then you will need to be prepared for a ton of research, higher price points for close proximity, or lower price points for a longer drive, etc.  

    Please, please, please research thoroughly before considering a property, especially near Orlando. (FYI, Disney is officially located in Lake Buena Vista - huge difference between there and Orlando).  A property may photograph nicely, and the mileage might be right, but you don't want a neighborhood that requires a police escort in and out of, right?  Even then, take a, ahem, "business trip" (aka vacation) and do your own driving. 

    On the other hand, if you're more inclined to spend most of the week at the beach, and make a Disney run for a day or two, you have more options. 

    If it's someplace in between ("Theme Park Alley", the Tampa - Orlando corridor), again, there are tons of options, but also as many considerations for rental purposes.

    Both of these are way more than I can cover easily in a reply. 

    My best suggestion is simply to ask, "What do you really (and I mean REALLY) want?"

    Theme park alley? Beaches? Disney's front door? 

    It's up to you and your family's desires.

    As long as you do your research, due diligence, and don't listen to sales pitches (timeshares make me cringe), you will not have a problem finding and keeping a profitable vacation rental in Central Florida.

     Please feel free to contact me if I can help.  I'm a Realtor® in the St. Petersburg area (beach side of Tampa), and my brokerage has an office & agents in Winter Haven. I'm happy to connect you with Holli, an agent from the Winter Haven office.  She's fantastic, very knowledgable about the area, and definitely a Disney regular. 

    1Reply
  • Monika Haebich
    Real Estate Professional · Atlanta, GA · Member since 2015 · 279 posts · 109 votes
    10y

    Hi Sonja! 

    A lot of the property managers I work with are looking to manage vacation rentals right now in Orlando, PCB, Miami, Fort Lauderdale, St. Augustine, Cape Coral/Fort Myers, Naples, Destin, & 30A. 

    If you have any questions about specific areas, I'm always happy to talk! :) 

    0Reply
  • Sonja Razmovski
    OP
    Markham, Ontario · Member since 2015 · 13 posts · 3 votes
    10y

    Thanks everyone - I appreciate all of the info and feedback. Definitely a lot to consider here and research. I will definitely be in touch with all of you to pick your brains a bit more. Thanks again! I really appreciate it.

    1Reply
  • Chuck MastersPro Member
    Investor · Bel Air, MD · Member since 2015 · 95 posts · 57 votes
    10y
    I spent over a year researching neighborhoods before finally purchasing a rental off 192, west of Disney. The comment in regards to a house may look good in a picture online but the neighborhood may not be a desirable place to vacation is very true. Many of the houses I researched online looked great but when I drove into the neighborhood I knew almost immediately this was not where I wanted to invest. There are still deals to be had but they are harder to find now. Good Luck
    [email protected]
    2Reply
  • David McBrayer
    Rental Property Investor · Winter Haven, FL · Member since 2015 · 96 posts · 24 votes
    10y

    The Winter Haven, FL area is a nice place and the prices are not as bad as one may think.  There are still some great deals around.  It is about 45 minutes to an hour from Orlando but not near as congested.

    I own rental properties in Winter Haven and I was born there.  The city has 50 lakes in it and you will see some of the best sunrises and sunsets you can see in Florida.  It is also about the same distance to Tampa.  So it is Centrally located and is now the home of Lego Land FL.  I have been really investing in Winter Haven the last year because the deals are much better than I can get here in Ft. Lauderdale or Pompano Beach, FL.  The rents are about the same but the cost of the properties is much less.  So more cash flow.

    The best of luck to you in your new ventures.

    2Reply
  • Adam BartomeoBusiness Member
    Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
    10y

    Stay close to irlo Bronson or international drive. There are lots of areas to invest in and they are close to the parks. I wouldn't stray much further then that.

    [email protected]239-339-3969
    Bartomeo Property Management4.7150 Reviews
    WebsiteView Page
    0Reply
  • Sonja Razmovski
    OP
    Markham, Ontario · Member since 2015 · 13 posts · 3 votes
    10y

    Thank you for your comments and those suggestions. Appreciate the insight...I do believe a Florida vacation is in order to check out the suggestions!

    1Reply
  • Anu G.
    Rental Property Investor · Los Angeles, CA · Member since 2014 · 79 posts · 16 votes
    10y

    Hi Sonja,

    How has your search been going in the last 5 months.  

    I'm looking for the a 1/1 or 2/2 vacation rental in coastal South Florida (Ft. Lauderdale to Miami).   I found this interesting site on airbnb statistics:

    https://www.airdna.co/city/us/florida/miami

    I'm currently looking for good vacation rental property managers.

    1Reply
  • Monika Haebich
    Real Estate Professional · Atlanta, GA · Member since 2015 · 279 posts · 109 votes
    10y

    @Anu G., I'd love to help you find a management company in the area. Let me know if you want to connect offline. 

    0Reply
  • Jerry Limber
    Investor · Sterling, VA · Member since 2014 · 26 posts · 32 votes
    10y

    Hi @Sonja Razmovski I purchased a vacation in Fort Lauderdale earlier this year and have been very happy with the results.  The great thing about Floirda (as you are probably already aware) is the fact that it's a year around vacation rental market.  If you want additional details, feel free to PM me.

    -Jerry

    1Reply
  • Josue Escobar
    Investor · Fort Lauderdale, FL · Member since 2016 · 13 posts · 5 votes
    8y

    Hey @Anu G., I found this post and wanted to see if you had any success in finding a vacation rental property in South Florida? I'm a local property manager and would love to help with anything you may need. Thanks!

    0Reply
  • Josue Escobar
    Investor · Fort Lauderdale, FL · Member since 2016 · 13 posts · 5 votes
    8y

    Hi @Monika Haebich it seems like you're well connected. I would love the chance to network with you. Please reach out, thanks!

    0Reply
  • Troy Williams
    Rental Property Investor · Florida & Shanghai · Member since 2017 · 192 posts · 68 votes
    8y

    Hello Florida lovers! Anyone have performance numbers to share on their Florida investments? I'm getting a lot of positive research on Florida as a potential investment state but cant seem to get hard fact results from investors like myself. As a comparison, I recently bought 2 triplexes in Colorado, both at 10%+ caprate, and between 12%-16% cash on cash ROI with a 5.75% loan rate. Anyone can share similar results on their Florida properties?

    I am looking to syndicate a large multi-family deal in the right place....hoping its Florida.

    2Reply
  • Lance S.
    Clermont, FL · Member since 2016 · 34 posts · 6 votes
    8y
    Hello, I live and work in Clermont FL and can definitely answer location questions as many people look at a map of Disney area and it seems very large, but most places are within 30-40 min drive to Parks and Disney Springs. I have lots of patients that have vacation and rental homes here that are from Canada and they like the feel of being a few miles from Disney. I can connect you with my realtor Joey Fesser and he can help you as well as he has a network of contractors to help as well. Happy Hunting and Welcome to Sunny Florida!
    0Reply
  • Anand S.
    Plantation, FL · Member since 2009 · 329 posts · 119 votes
    8y

    Hi All, just stumbled on this thread. We actually own a few vacation rentals here in East Ft Lauderdale, and have one that we are looking to sell. It's a licensed short-term rental with 3 years of books/records. It's typically ranked on the first page of ABB search results for the area. 

    Reach out if anyone's interested. Caveat: it's a SFH in a high-end neighborhood (E of US-1) so price point is reflective.

    0Reply
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