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Real Estate Deal Analysis & Advice

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Samuel Pascal
  • New to Real Estate
  • New York, NY
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Buying townhomes in Orlando

Samuel Pascal
  • New to Real Estate
  • New York, NY
Posted Sep 16 2023, 11:39

Hello,

I am from NYC and I am looking for rental properties in Orlando Kissimee area. Anyone know if Townhomes are worth looking into? 

Thank you. 

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Jason Wray
  • Banker
  • Nationwide
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Jason Wray
  • Banker
  • Nationwide
Replied Sep 16 2023, 11:59

Samuel,

There are still a few good properties in Kissimmee in terms of town homes with reasonable HOA fee's. The big takeaway is you want to locate the units with the lowest HOA fee to avoid it sucking the life out of your cash flow. You also want to make sure they are not STR restricted and offer the option to VRBO.

There are some good deals in the Townhomes over in Saint Andrews Court where HOA's run around $200 a month. Prive points are between $200-$295K depending on GLA/sqft and location on the property. Once you get above $350 a month on the HOA fee it might be a better idea to buy a SFR - single family home.

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Raymond J. Rodrigues
  • Lender
  • Miami, FL
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Raymond J. Rodrigues
  • Lender
  • Miami, FL
Replied Sep 16 2023, 17:52

Hi @Samuel Pascal, reach out to @Judson Osbon!

Lender Louisiana (#1039511), Georgia (#1039511), and Florida (#1450514)

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Shawn McCormick
  • Realtor
  • Orlando, FL
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Shawn McCormick
  • Realtor
  • Orlando, FL
Replied Sep 17 2023, 04:55

@Samuel Pascal There are many good options depending on your price point and strategy. There are some builders now building slightly smaller units with 1 car garage brand new in the low-mid 300's. This would be a good appreciation play and avoid Cap/ex for many years.

Kissimmee has plenty of inventory, but HOA's tend to be much higher due to they are near Disney and can be used as STR.

Hope this help, best of luck!

  • Real Estate Agent

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Alice Horn
  • Property Manager
  • Kissimmee, FL
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Alice Horn
  • Property Manager
  • Kissimmee, FL
Replied Sep 19 2023, 04:52
Quote from @Samuel Pascal:

Hello,

I am from NYC and I am looking for rental properties in Orlando Kissimee area. Anyone know if Townhomes are worth looking into? 

Thank you. 


Good morning Pascal, absolutely a townhome can be a viable option for STR. We have many that perform well. Keep in mind there is a lot of inventory out there and uniqueness is a key factor. Townhomes with pools perform far better than those without. Theming is a must. If you can find a corner unit with more privacy, or a townhome with a lake or forest view - all those factors come into play. Feel free to reach out and we are happy to provide a helpful map of recommended communities, along with revenue/occupancy reports on specific properties as you get further along in your search!

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Matthew Tregoning
  • Real Estate Agent
  • Melbourne, FL
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Matthew Tregoning
  • Real Estate Agent
  • Melbourne, FL
Replied Sep 19 2023, 13:14

Certainly, in the highly competitive Disney market in Kissimmee, selecting the right vacation community is key. Look for properties with HOA restrictions that align with your rental plans, and prioritize communities with exceptional amenities. A well-designed and themed interior is essential to stand out and attract guests in this market. Best of luck with your search!

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Michael Stoyanov
  • Realtor
  • Naples, FL
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Michael Stoyanov
  • Realtor
  • Naples, FL
Replied Sep 19 2023, 15:51

@Samuel Pascal

I am sure you already know that the STR market in that area is heavily saturated. The good news is that it is still a popular destination and there are a lot of visitors annually.

I have been  in the vacation rental industry for almost 20 years now and have been personally involved in hundred of thousands of reservations. Here is the bottom line - in order to be successful, you need to stand out and have a competitive edge - that includes the home itself as well as the amenities offered by the complex. Currently vacation rentals nationwide are  definitely experiencing a downturn, but eventually that will settle at some point, so do not let it prevent you from doing it.

I would rather see you purchasing a 1 EXEPTIONAL property versus few mediocre townhomes - that way you are multiplying your problems.

I would recommend maybe 9+ bedroom home, which is already themed, at least 5,000 sq ft with private pool and hot tub ( they are not that expensive) and look into a complex that has a LOOOOOT of amenities - lazy rivers, multiple pools, golf course, fitness center, game room, etc.

The income from such property, will likely exceed the income from 2 or 3 properties purchased for the same price and your expenses are going to be less- you still have 1 kitchen, 1 pool, 1 set of appliances, etc. to maintain.

Please DM me if you have more questions or need assistance- I would be happy to answer them for you.

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Zach Edelman#3 Short-Term & Vacation Rental Discussions Contributor
  • Lender
  • Austin, TX
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Zach Edelman#3 Short-Term & Vacation Rental Discussions Contributor
  • Lender
  • Austin, TX
Replied Sep 19 2023, 16:30

Are you looking to utilize the properties you are acquiring as STRs?