All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Newest Posts Trending Discussions Followed Forums Real Estate News & Current Events General Landlording & Rental Properties Buying & Selling Real Estate Deal Analysis See All
  • Education

    Read

    BiggerPockets Blog BPInsights: Expert Analysis Coronavirus Content & Resources Guides Glossary Reviews Member Blogs

    Watch

    Webinars Video Library Financial Independence Blueprint Intro to Real Estate: Rentals

    Listen

    BiggerPockets Real Estate Podcast BiggerPockets Money Podcast BiggerPockets Business Podcast Real Estate Rookie Podcast Daily Podcast (Audio Blog)

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Real Estate Agents Mortgage Lenders Companies Hard Money Lenders Contractors Investment Companies

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    BPInsights: Property Insights Tenant Screening Property Management Lease Agreement Packages

    New Feature

    BPInsights (beta)

    Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood.

    Analyze a property
  • Find Deals
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    Profit Like The Pros Bidding to Buy See all books

    Featured Book

    BiggerPockets Wealth Magazine book cover
    BiggerPockets Wealth Magazine

    Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Subscribe today and get the Oct/Nov issue delivered to your door!

    Get the Magazine
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books Washington
ForumsArrowBRRRR - Buy, Rehab, Rent, Refinance, RepeatArrowInvesting in Orlando rentals
  • Newest Posts
    • Newest Posts
    • Unanswered Discussions
  • Trending
    • Top Discussions
    • Trending Discussions
  • Browse Forums
Search Nova
Topic: 1031 Exchanges Topic: Akron Real Estate Forum Topic: Alabama Real Estate Q&A Discussion Forum Topic: Alaska Real Estate Q&A Discussion Forum Topic: Alberta Real Estate Forum Topic: Albuquerque Topic: Allentown Real Estate Forum Topic: Anchorage Real Estate Forum Topic: Ann Arbor Topic: Arizona Real Estate Q&A Discussion Forum Topic: Arkansas Real Estate Q&A Discussion Forum Topic: Arlington Real Estate Forum Topic: Asheville NC Real Estate Forum Topic: Ask About A Real Estate Company Topic: Athens Real Estate Forum Topic: Atlanta Real Estate Forum Topic: Aurora Real Estate Forum Topic: Aurora Real Estate Forum Topic: Austin Real Estate Forum Topic: Bakersfield Real Estate Forum Topic: Baltimore Real Estate Forum Topic: Bankers, Lenders, and Mortgage Brokers Topic: Baton Rouge Real Estate Forum Topic: Beaverton Real Estate Forum Topic: BiggerPockets Business Podcast Topic: BiggerPockets Exclusive PRO Area Topic: BiggerPockets Money Podcast Topic: BiggerPockets Real Estate Investing Summit Topic: BiggerPockets Summer Reading List Topic: BiggerPockets Webinar Discussion Forum Topic: Billings Real Estate Forum Topic: Birmingham Real Estate Forum Topic: Bismarck Real Estate Forum Topic: Boise Real Estate Forum Topic: Boston Real Estate Forum Topic: Bridgeport Real Estate Forum Topic: British Columbia Real Estate Forum Topic: BRRRR - Buy, Rehab, Rent, Refinance, Repeat Topic: Buying & Selling Real Estate Discussion Topic: California Real Estate Q&A Discussion Forum Topic: Cambridge Real Estate Forum Topic: Canadian Real Estate Topic: Cape Cod Real Estate Forum Topic: Cape Coral Real Estate Forum Topic: Casper Real Estate Forum Topic: Cedar Rapids Real Estate Forum Topic: Chandler Real Estate Forum Topic: Charleston Real Estate Forum Topic: Charleston Real Estate Forum Topic: Charlotte Real Estate Forum Topic: Chattanooga Real Estate Forum Topic: Chesapeake Real Estate Forum Topic: Cheyenne Real Estate Forum Topic: Chicago Real Estate Forum Topic: Chittenden County Real Estate Forum Topic: Cincinnati Real Estate Forum Topic: Cleveland Real Estate Forum Topic: Coastal NC Real Estate Forum Topic: Colorado Real Estate Q&A Discussion Forum Topic: Colorado Springs Real Estate Forum Topic: Columbia Real Estate Forum Topic: Columbia Real Estate Forum Topic: Columbus Real Estate Forum Topic: Columbus Real Estate Forum Topic: Commercial Real Estate Investing Forum Topic: Completed Deal Diaries Topic: Connecticut Real Estate Q&A Discussion Forum Topic: Construction & Remodeling Diaries Topic: Contractors Topic: Conway Real Estate Forum Topic: Coronavirus Conversation Topic: Coronavirus Government Assistance Programs Topic: Creative Real Estate Financing Forum Topic: Currently Under Contract Topic: Dallas Real Estate Forum Topic: Davenport Real Estate Forum Topic: Dayton Real Estate Forum Topic: Delaware Real Estate Q&A Discussion Forum Topic: Denver Real Estate Forum Topic: Des Moines Real Estate Forum Topic: Detroit Real Estate Forum Topic: Do it Yourself Topic: El Paso Real Estate Forum Topic: Eugene Real Estate Forum Topic: Evansville Real Estate Forum Topic: FAQ Forum Topic: Fargo Topic: Fayetteville Real Estate Forum Topic: First Time Home Buyer Topic: Florida Real Estate Q&A Discussion Forum Topic: Foreigners Buying in the USA Topic: Fort Collins Real Estate Forum Topic: Fort Lauderdale Real Estate Forum Topic: Fort Smith Real Estate Forum Topic: Fort Wayne Real Estate Forum Topic: Fort Worth Real Estate Forum Topic: Fresno Real Estate Forum Topic: General Foreclosure & Pre-Foreclosure Forums Topic: General Landlording & Rental Properties Topic: General Real Estate Investing Topic: Georgia Real Estate Q&A Discussion Forum Topic: Germantown Real Estate Forum Topic: Get Foreclosure Help - Stop Foreclosure Forum Topic: Gilbert Real Estate Forum Topic: Glendale Real Estate Forum Topic: Goals, Business Plans & Entities Topic: Grand Rapids Real Estate Forum Topic: Green Bay Topic: Greensboro Real Estate Forum Topic: Hammond Real Estate Forum Topic: Hartford Real Estate Forum Topic: Hawaii Real Estate Q&A Discussion Forum Topic: Henderson Real Estate Forum Topic: Hialeah Real Estate Forum Topic: Hilo Real Estate Forum Topic: Home Owner Association (HOA) Issues & Problems Forum Topic: Honolulu Real Estate Forum Topic: Housing News & Real Estate Market Discussions Topic: Houston Real Estate Forum Topic: HUD, VA, and Tax Sales Topic: Huntington Real Estate Forum Topic: Huntsville Real Estate Forum Topic: Idaho Falls Real Estate Forum Topic: Idaho Real Estate Q&A Discussion Forum Topic: Illinois Real Estate Q&A Discussion Forum Topic: Indianapolis Real Estate Forum Topic: Indiana Real Estate Q&A Discussion Forum Topic: Innovative Strategies Topic: Interest Rate Drops Topic: International Real Estate Topic: Investor Deal Diaries Topic: Investor Psychology Topic: Iowa Real Estate Q&A Discussion Forum Topic: Jackson Real Estate Forum Topic: Jacksonville Real Estate Forum Topic: Jersey City Real Estate Forum Topic: Job Loss/Company Closings Topic: Joliet Real Estate Forum Topic: Jonesboro Real Estate Forum Topic: Kailua Real Estate Forum Topic: Kānèohe Real Estate Forum Topic: Kansas City Real Estate Forum Topic: Kansas City Real Estate Forum Topic: Kansas Real Estate Q&A Discussion Forum Topic: Kentucky Real Estate Q&A Discussion Forum Topic: Knoxville Real Estate Forum Topic: Lakewood Real Estate Forum Topic: Landlord Problem Solving Topic: Las Cruces Real Estate Forum Topic: Las Vegas Real Estate Forum Topic: Lewiston Real Estate Forum Topic: Lexington-Fayette Real Estate Forum Topic: Lincoln Real Estate Forum Topic: Little Rock Real Estate Forum Topic: Local Real Estate Networking Topic: Long Beach Real Estate Forum Topic: Long Island Real Estate Forum Topic: Los Angeles County Real Estate Forum Topic: Louisiana Real Estate Q&A Discussion Forum Topic: Louisville Real Estate Forum Topic: Madison Real Estate Forum Topic: Maine Real Estate Q&A Discussion Forum Topic: Managing Your Property Topic: Manchester Real Estate Forum Topic: Manitoba Topic: Marketing Your Rental Topic: Marketplace Topic: Maryland Real Estate Q&A Discussion Forum Topic: Massachusetts Real Estate Q&A Discussion Forum Topic: Meads Real Estate Forum Topic: Memphis Real Estate Forum Topic: Meridian Real Estate Forum Topic: Mesa Real Estate Forum Topic: Miami Topic: Michigan Real Estate Q&A Discussion Forum Topic: Military Investing Topic: Milwaukee Real Estate Forum Topic: Minneapolis Real Estate Forum Topic: Minnesota Real Estate Q&A Discussion Forum Topic: Mississippi Real Estate Q&A Discussion Forum Topic: Missoula Real Estate Forum Topic: Missouri Real Estate Q&A Discussion Forum Topic: Mobile (Alabama) Real Estate Forum Topic: Mobile Homes & Mobile Home Park Investing Topic: Modesto/Merced Real Estate Forum Topic: Montana Real Estate Q&A Discussion Forum Topic: Montgomery Real Estate Forum Topic: Mortgage Payment Suspension Topic: Mt. Pleasant Real Estate Forum Topic: Multi-Family and Apartment Investing Forums Topic: Nampa Real Estate Forum Topic: Naperville Real Estate Forum Topic: Nashville Real Estate Forum Topic: Nebraska Real Estate Q&A Discussion Forum Topic: Nevada Real Estate Q&A Discussion Forum Topic: Newark Real Estate Forum Topic: New Brunswick Real Estate Forum Topic: Newfoundland and Labrador Real Estate Forum Topic: New Hampshire Real Estate Q&A Discussion Forum Topic: New Haven Real Estate Forum Topic: New Jersey Real Estate Q&A Discussion Forum Topic: New Member Introductions Topic: New Mexico Real Estate Q&A Discussion Forum Topic: New Orleans Real Estate Forum Topic: New York City Real Estate Forum Topic: New York Real Estate Q&A Discussion Forum Topic: Norfolk Real Estate Forum Topic: North Carolina Real Estate Q&A Discussion Forum Topic: North Dakota Real Estate Q&A Discussion Forum Topic: Northwest Territories Real Estate Forum Topic: Norwalk Real Estate Forum Topic: Nova Scotia Real Estate Forum Topic: Nunavut Real Estate Forum Topic: Oakland Real Estate Forum Topic: Off-Topic Topic: Ogden Topic: Ohio Real Estate Q&A Discussion Forum Topic: Oklahoma City Real Estate Forum Topic: Oklahoma Real Estate Q&A Discussion Forum Topic: Omaha Real Estate Forum Topic: Ontario Real Estate Forum Topic: Orange County Real Estate Forum Topic: Oregon Real Estate Q&A Discussion Forum Topic: Orlando Real Estate Forum Topic: Overland Park Real Estate Forum Topic: Pearl City Real Estate Forum Topic: Pennsylvania Real Estate Q&A Discussion Forum Topic: Peoria Real Estate Forum Topic: Personal Finance Forum Topic: Philadelphia Real Estate Forum Topic: Phoenix Real Estate Forum Topic: Pittsburgh Real Estate Forum Topic: Pocatello Real Estate Forum Topic: Portland Real Estate Forum Topic: Portland Real Estate Forum Topic: Prince Edward Island Real Estate Forum Topic: Private Lending & Conventional Mortgage Advice Topic: Property Insurance Questions & Discussions Topic: Providence Real Estate Forum Topic: Provo Real Estate Forum Topic: Quad Cities Real Estate Forum Topic: Quebec Real Estate Forum Topic: Questions About BiggerPockets and Official Site Announcements Topic: Raleigh Real Estate Forum Topic: Rapid City Real Estate Forum Topic: Real Estate Agent Forums Topic: Real Estate Crowdfunding Forums Topic: Real Estate Deal Analysis and Advice Topic: Real Estate Development & New Home Construction Topic: Real Estate Events and Happenings Topic: Real Estate Guru, Book & Course Reviews and Discussions Topic: Real Estate Investor Marketing Help & Advice Topic: Real Estate News & Current Events Topic: Real Estate Not-So-Successful Stories Topic: Real Estate Quizzes Topic: Real Estate Rookie Podcast Topic: Real Estate Success Stories Topic: Real Estate Technology, Social Media & Blogging Topic: Real Estate Wholesaling Questions & Answers Topic: Rehabbing and House Flipping Topic: Reno Real Estate Forum Topic: Renters Discussion Topic: Rent to Own a.k.a. Lease Purchase, Lease Options Topic: REOs Topic: Rhode Island Real Estate Q&A Discussion Forum Topic: Richmond Real Estate Forum Topic: Rio Grande Valley Real Estate Forum Topic: Riverside Real Estate Forum Topic: Rochester Real Estate Forum Topic: Rockford Real Estate Forum Topic: Sacramento Real Estate Forum Topic: Saint Paul Real Estate Forum Topic: Salem Real Estate Forum Topic: Salt Lake City Real Estate Forum Topic: San Antonio Real Estate Forum Topic: San Diego Real Estate Forum Topic: Sandy Springs Real Estate Forum Topic: San Francisco Real Estate Forum Topic: San Jose Real Estate Forum Topic: San Luis Obispo Real Estate Forum Topic: Santa Fe Real Estate Forum Topic: Saskatchewan Real Estate Forum Topic: Savannah Real Estate Forum Topic: Scottsdale Real Estate Forum Topic: Seattle Real Estate Forum Topic: Short Sales Questions Topic: Short-Term and Vacation Rental Discussion Topic: Shreveport Real Estate Forum Topic: Sioux City Real Estate Forum Topic: Sioux Falls Real Estate Forum Topic: South Bend Real Estate Forum Topic: South Carolina Real Estate Q&A Discussion Forum Topic: South Dakota Real Estate Q&A Discussion Forum Topic: Southeast NC Real Estate Forum Topic: Spokane Real Estate Forum Topic: Springdale Real Estate Forum Topic: Springfield Real Estate Forum Topic: Stamford Real Estate Forum Topic: Starting Out Topic: St. Louis Real Estate Forum Topic: Stockton Real Estate Forum Topic: St. Petersburg Real Estate Forum Topic: STR Strategies Under Travel Restrictions Topic: Surprise Real Estate Forum Topic: Tacoma Real Estate Forum Topic: Tallahassee Real Estate Forum Topic: Tampa Real Estate Forum Topic: Tax, Legal Issues, Contracts, Self-Directed IRA Topic: Tax Liens, Notes, Paper, & Cash Flows Discussion Topic: Tempe Real Estate Forum Topic: Tenant Screening Topic: Tennessee Real Estate Q&A Discussion Forum Topic: Texas Real Estate Q&A Discussion Forum Topic: Thornton Real Estate Forum Topic: Toledo Real Estate Forum Topic: Topeka Real Estate Forum Topic: Tucson Real Estate Forum Topic: Tulsa Real Estate Forum Topic: Tuscaloosa Real Estate Forum Topic: Upstate New York Real Estate Forum Topic: Utah Real Estate Q&A Discussion Forum Topic: Vancouver Real Estate Forum Topic: Vermont Real Estate Q&A Discussion Forum Topic: Virginia Beach Real Estate Forum Topic: Virginia Real Estate Q&A Discussion Forum Topic: Waipahu Real Estate Forum Topic: Waipahu Real Estate Forum Topic: Warren Real Estate Forum Topic: Warwick Real Estate Forum Topic: Washington D.C. Real Estate Q&A Discussion Forum Topic: Washington Real Estate Q&A Discussion Forum Topic: Waterbury Real Estate Forum Topic: Westchester County Real Estate Forum Topic: Western NC Real Estate Forum Topic: West Gulfport Real Estate Forum Topic: West Virginia Real Estate Q&A Discussion Forum Topic: Wichita Real Estate Forum Topic: Wilkes Barre Scranton Real Estate Forum Topic: Wilmington Real Estate Forum Topic: Wisconsin Real Estate Q&A Discussion Forum Topic: Worcester Real Estate Forum Topic: Wyoming Real Estate Q&A Discussion Forum Topic: Yukon Real Estate Forum
Create post

Investing in Orlando rentals

8 Replies

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Flipping, and Analyze Deals
  • Posts 711
  • Votes 499

Tyler Gibson
Rental Property Investor from Orlando, FL

posted about 1 year ago

I decided to write this post after having multiple conversations with potential out of state investors that were looking to invest in Orlando. I figured after having the same conversation 5 times it was best to put it in writing. I hope that this helps some of you out there looking to get into the Orlando market. 

To start the Orlando market is HOT! Home prices are up and if you are looking for a 3/2 starter home in a good neighborhood then you should expect to pay $250k and up. You could rent that home for $1400-$2200 depending on the zip code and finishes. There are so many areas in Orlando and these areas matter. There is College Park, Winter Park, Winter Springs, Winter Garden, Oveido, Ocoee, Apopka, Conway, Belle Isle, Pine Hills, Richmond Heights, Dr. Phillips, Orlo vista, Altamonte, Casselberry, Longwood, Maitland, and many more. Where a property is located matters in this market. A 3/2 in Pine Hills costs $145k-$170k but the rent is maybe close to $1200 max. Pick up and move the home to Winter Park and it will easily sell for $340K+ and rent will be closer to $2200. 

Why do I share that? Well I simply want to inform people that may be looking to invest from out of state. Not all of Orlando is created equal. Many of the times I speak with an out of state investor I share the above information and they sound deflated. I burst a bubble, they have read all over the internet about how hot Orlando is, how it is such a great rental market and the properties are cheap. Well, some of what they have read is correct but it requires knowledge of the market to actually find a deal. 

Orlando is a great rental market! The median income for workers in Orlando is $14/hr. That means that most people can't afford to save and purchase a home of their own. Orlando has some of the largest tourist attractions in country and they employ an absurd number of people and all those people need a place to live. A recent statistic said that 1100 people move to this area every week. Yeah I said every week.  This is one of the reasons why there has been such an aggressive expansion of commercial multi-family in the area. Much of that has been in the form of luxury apartments which carry absurd rental rates leaving some of the lower wage workers looking for alternate housing. I have seen a decent inventory of homes that are moderately priced in some of the lower class neighborhoods that with traditional 20% down financing should cashflow positive and be a solid long term rental. Many investors are not interested in this kind of property because they would not want to live in the home themselves or would not want to manage it. Well you aren't going to live in it and you don't have to manage it I know several property management companies that have no issue with managing this kind of property.  Even so most of the people that I speak with are looking for a home run in a great neighborhood for less than $150k and in today's Orlando market that is a fantasy. 

But what about Wholesalers? or direct marketing? won't that get me my home run deal? 

Well.... NO, and here is why. Orlando is saturated with people that went to a free real estate investing event hosted by your favorite TV star. These people were sold a no money down approach to real estate investing. So they have all started direct marketing/bandit signs/driving for dollars. Many of them are so focused on getting something under contract that they totally miss the point of making sure it is a good deal. They then market their contract that is close to retail price as a great deal. They over estimate ARV by cherry picking comps or just picking a number that gives the deal enough spread. Oh and the estimated rehab cost is again a wildly inaccurate guess. Then we have the new flippers that are marketing someone else's contract at a markup. I encourage you to join a few Orlando real estate investing Facebook groups after a few hours you will have seen 10-20 people looking for cash buyers to add to their list. Once you sign up and start seeing the properties you will notice they are all selling the same properties but at different prices. On the direct marketing front that is saturated too. Trust me I get at least one offer a week from someone that wants to buy my rental properties. Now I can't say with certainty that it won't work but if you don't know what you are doing and aren't consistent enough then you are probably just throwing away your money.

I realize that this rant has seemed relatively negative in tone, but I'm just trying to paint an accurate picture. 

I love the Orlando market I live here, work here, and invest here. I hope to continue to help people invest here because I don't see this economy slowing down any time soon. I simply feel someone needs to paint the more realistic picture of what it looks like to invest here. 

If you are looking for a solid long term investment then Orlando is the market for you. You just have to choose between investing for cash flow (in a lower class area) or for appreciation. Not to say you can't achieve both but likely not in the next 5 years. 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Team, and Single Family
  • Posts 471
  • Votes 478

Russell Holmes
Real Estate Agent from Apopka, FL

replied about 1 year ago

Amen @Tyler Gibson ! Well said.

I have had a few out of state investors reach out with these types of misconceptions and it's so easy to think "Orlando" is all the same.

I also agree with you about the flooding of so-called 'wholesalers'. The good 'wholesalers' I know are also flippers, often holding a Real Estate License, simply wholesaling the excess deals that they spend good time and money to find, analyze, and put under contract. It may be one or two a month and their numbers are solid. I'm on several lists and every once in awhile see something decent, but most often their ARV or Rehab estimates are way off to 'make' a deal where there isn't one. Things are so tight that I know flippers starting to lend money and wholesalers starting to put some MLS properties under contract to wholesale for slimmer margins.

Not to say that there aren't deals (there are) or that all wholesalers fluff numbers (they don't), but the Orlando and surrounding markets require local knowledge and analysis and a look at the bigger picture long term. It is NOT a 'throw a dart and hit a deal' type market!

I feel strongly about a point David Greene made in his BRRRR book about looking to buy in 'the path of progress'. Not necessarily buying ONLY for appreciation, but acquiring properties in locations with good core reasons to appreciate in the future. Some of the highest dollar markets are capped out on space and prices are huge. But with growth in all directions and some of these outskirts markets seeing revitalization and new growth, it takes some foresight and analysis to find deals for long term holds.

All of the population growth, overall prices being reasonable for owner occupant homes, strong employment, infrastructure growth, and other factors point to this being a very strong market for years to come. However, it is a blessing and a curse in that this 'hot market' has driven up demand and competition for distressed houses.

I've got a JV flip listed on the market now considering what to do next with my partner. In looking around at the current offerings from all sources, my partner and I are strongly considering BRRRR or new builds to hold since slimmer margins than flips work on those. I wouldn't buy only for appreciation, but I don't think rent is going to stop climbing for quite some time even if prices flatten out. A mediocre hold deal now will only get better in time, in my opinion.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 57
  • Votes 31

Jeffrey Long
Real Estate Agent from Myrtle Beach, SC

replied about 1 year ago

Same story for Myrtle Beach.

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Team, Analyze Deals, and Flipping
  • Posts 243
  • Votes 82

Bernadeau C.
Rental Property Investor from Orlando, FL

replied about 1 year ago

nice post @Tyler Gibson I just wanted to add simply that this is true for any market. one should not generalize a whole market as "hot, good, bad, ect". its really about the intricacies of that market, and knowing the sub-markets within that market. 

Rotate Log in or sign up to reply
user profile avatar
  • Posts 61
  • Votes 24

David Pierce
Property Manager from Orlando, FL

replied about 1 year ago

Good overview. I get calls all week about buying property here for $100k. Or looking for an 8 cap or 1%. They are not here....

Rotate Log in or sign up to reply
user profile avatar
  • Posts 6
  • Votes 1

Sergio Rojas
Investor from Orlando FL

replied about 1 year ago

Hy Tyler, this was a great post and very accurate with what I see in the market as well. Can you share the list of B neighborhoods that you recommend? Thank again

Rotate Log in or sign up to reply
user profile avatar
  • Posts 1
  • Votes 0

Amanda G Rinkinen
New to Real Estate from Michigan

replied 12 months ago

What is your take on buying a condo in Orlando and using it as a vacation rental? We live in Michigan,  in a location where investing in real estate is not working right now, and the only other place we know well is Orlando. Looking to invest and rent out, and eventually sell.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 61
  • Votes 24

David Pierce
Property Manager from Orlando, FL

replied 12 months ago

@Amanda G Rinkinen - super strict vacation rental rules in Orange County. Owner has the live in 50% of the property. So think duplexes. Seminole County is tough too.

Osceola and Polk counties are better. They are building thousands of condos to 12 BR villas around there just for VRs.

So you can imagine the competition.

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Flipping, and Analyze Deals
  • Posts 711
  • Votes 499

Tyler Gibson
Rental Property Investor from Orlando, FL

replied 12 months ago

@Amanda G Rinkinen David is right. The city of Orlando has some prohibitive restrictions. But not far away by Disney is outside of the city and it is allowed there. There are many many people that do that some with great success and some not so great. You have to make your property stand out by it being modern comfortable fun and great pictures. Then you need to be able to execute making the experience seamless. Management for those kinds of properties can eat into the profits pretty quickly.  If you can put systems in place to self manage then you can do well.

Rotate Log in or sign up to reply
  • 1
Related Resources BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Best Deal Ever: Making a Good Deal Great by Negotiating Seller-Held Terms
5 Reasons To Wait To Negotiate Until After the Home Inspection
Have Top-Notch Tenants? Here’s How to Keep Them
Top 5 Tips for a Smooth and Stress-Free Home Sale
7 Ways to Get Your Offer Accepted in a Hot Market
Resources Read, see, and learn more!
Link Real Estate Investment Calculators
Link BiggerPockets Blog
Link Path to Purchase
Link Mortgage Loans
Link Find a Contractor
Link Real Estate Agents
Link Hard Money Lenders
Link Real Estate Listings

Top Contributors

Anthony Holloway
Anthony Holloway
Los Angeles
7.09
Score
Whitney Hutten
Whitney Hutten
Boulder, CO
5.03
Score
Brandon Pace
Brandon Pace
Centerville, UT
4.19
Score
Kenneth Williams
Kenneth Williams
Memphis, TN
3.02
Score
David Avery
David Avery
Phoenix Arizona
2.9
Score

BRRRR - Buy, Rehab, Rent, Refinance, Repeat Trending Discussions

  • Newbie interested in building a portfolio
    15 Replies
  • Should I BRRRR, Finance Traditionally, or List as Agent?
    7 Replies
  • BRRRR more than 10 properties?
    30 Replies
  • Newbie investor needs guidance on BRRRR
    9 Replies
  • Successful BRRR deals in Indianapolis
    9 Replies
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • Glossary
  • Reviews
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Editorial Guidelines
  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2021 BiggerPockets, LLC. All Rights Reserved.