Updated 2 days ago on . Most recent reply
STR in Florida
Hello all!
Calling all STR owners. I have been reading books about short term rentals and would be interested in getting into it. I was thinking somewhere near Disney World (maybe Kissimmee) or on the coast of Florida. Is this is a smart investment? Can anyone give me sound advice on how to go about this idea? I'm interested in a single family home. Thank you in advance!
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- Property Manager
- Orlando Kissimmee, Davenport
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I own one in Kissimmee: https://www.airbnb.com/rooms/52612233
I also manage another 18 or so there.
Up until very recently I've been one of the biggest skeptics for the Disney area on this board. And there are still some underlying issues there. That said the market has corrected so hard here that there are finally some deals to be had as people have rushed to ditch even turn-key places.
We just recently had a client pick up a themed home in Champions Gate similar to mine above and another I manage that both do around $135k annual gross revenue at a purchase price of $715k. 19% revenue on purchase price turnkey with no additions is tough to find these days.
That said, whether it's finding a themed one turn key or doing the theming yourself, theming is an absolute must if raw returns factor into your decision at all.
If you're buying as a lifestyle asset, personal use, etc then it's reasonable to do without it. But otherwise it's just a requirement in this market like a hot tub is in the smokies.
- Ryan Moyer
