All Forum Posts by: Alice Horn

 Orlando! Is a mature vacation rental market where friendly laws have been in place many years. Vacation rental communities here are purpose-built for tourism and traveling families. There is zero cause for concern that laws would suddenly change and shut you down. Good luck!

Quote from @Devonte Wilson:

Does anyone have STR's near the Walt Disney area in Florida? If so, what is the cashflow difference between a home with a pool and without a pool? Will I be as competitive if I don't get a pool. And are there any substitutes to a pool?

In general, a pool is a must. We do manage about 20 condo properties in one community that perform very well without a pool. The location is very strategic, near the Orlando Convention Center, so it's not the typical vacation rental resort community. Not surprisingly, pricing on these units has increased dramatically along with the rest of the market. Let us know if we can help you crunch the numbers on any options you may be considering!  

Rachel,

glad to see you have received such a warm welcome here! If you are interested in exploring the STR market, we are happy to help you crunch the numbers and think deals through. Have fun searching!

Quote from @Jarrett Boyes:

We are in the process of trying to close on a property in Cape Coral and obviously have been put on pause with the hurricane.   What are the thoughts on how the area will be able to bounce back from a tourism standpoint?   My main concern with tourism is with the causeway to Sanibel Island being taken out and the access to those great beaches being gone.  This was an investment property for us so we are trying to understand what kind of hit we will take.  Also, thoughts on if insurance rates are going to hold or skyrocket?

Check out yesterday's great article in BP by Lindsay Frankel. She adds some history on what has happened after past hurricanes (these coastal areas have actually appreciated) and provides a thoughtful analysis of the Florida insurance market.

https://www.biggerpockets.com/...

Quote from @Jeff Smith:

Does anyone know any DSCR lenders that would work with a Canadian looking to finance a STR in the Orlando / Disney area?

Hello Jeff! Just last week, we had a homeowner close with this type of deal. Feel free to reach out and I'll share what we know about the deal.

Quote from @Bo A Vanecko:

Hello All

I am looking at getting some place in Florida to use as a golf vacation/resort for the family (play a lot of golf ) and have begun looking at places that would be nice vacation spots to bring the fam and play some excellent golf.  private club resorts etc.  

I have been looking closely at the orlando area specifically reunion and champions seem to be big draws with good golf.  Curious to those (saw posts from a few years back on here and will reach out to a few individually) who have invested in the orlando area recently how properties have done etc.  with rates so high right now (clearly would look to refi a few years out when rates drop) and looking to a PM since i am in Colorado, seeing break even as high as 65K income needed etc. 

i have only just started putting numbers together but this is what rough estimates have been.

Curious if anyone has either ongoing experience in these areas or recent experience in buying and if they would be willing to chat a bit on the market and what i can expect on true break even points etc.

for me this is more about equity play and being able to vacation with the family and friends and play good golf than a full blown highly profitable (of course best of both worlds always nice) STR at this point.

Thanks in advance

Bo

Hi Bo!

This sounds like a great plan. As far as which resort to choose, it will depend on your priorities. If you are looking to maximize your investment, Championsgate is a better bet. If you are simply looking for a lovely resort for you and your family with great amenities and want to offset some of the expenses, Reunion is a good choice -- but it is not as investor-friendly. There are also other very pretty, lesser known resorts in the Orlando market which may work for you and your family.

Happy to help you brainstorm and also help with revenue and occupancy reports for any homes and resorts which catch your eye!

Quote from @Artem Pustovar:

Hi everyone. I am  general contractor and thinking to build my first vacation rental.

I absolutely unexperienced in field of short rentals I have several questions.

1. Is it important you have vacation rental in Nice area and the house to be similar to houses in the neighborhood?

2. I'm thinking to build SFH with 5 to 6 bedroom with all en suite master bathrooms 2500-3000 sf AC area with 2 car attached garage, swimming pool, large covered rerar porch and nice entertaining outdoor space. Budget is 700 to 800k including land with final market value about 1 million. Projecting daily rent $600-$1000 a night.

3. Is there any special platforms or I can get for plans for the houses which is specially designed as vacation rentals?

4. Does it make sense to build 5- 6 bedroom home for the purpose? My opinion that I can comfortably accept larger groups of people and maximize price per night.

5. I'm trying to figure out the best type and size of house I have to build in terms of ROI.

Hi @Artem Pustovar!

Here in the Orlando/Disney market, the type of home you're describing is absolutely the standard in communities like Championsgate, Windsor at Westside and many more. Our market caters to large family groups, multigenerational travelers and friend groups. A minimum of 5-6 bedrooms is a must with at least two masters with king beds and ensuite bathrooms. Additionally, another bedroom with a queen bed or two full beds, one with two twins and one with bunk beds (twin over full is nice). One of the bathrooms could be Jack & Jill, and one separate bath. Importantly, one of the masters should be downstairs to accommodate elderly family members or those with special needs. 

If you have a pool, it should have a screen enclosure AND a child safety fence. The downstairs master bath could face the pool, with a door opening to the pool to make showering easy for swimmers.

Since a lot of these homes are build by builders like Lennar or Pulte, you may be able to find floor plans online.

Of course it's important to be in a nice area, even more important is the proximity to local attractions. If you can find a lot with a conservation or lake view from the pool area, even better. And it is imperative to make sure the zoning will permit STR use.

Instead of the 2 car garage, consider a game room with a pool table, maybe foosball, even video games. Having a game room will again boost your rates, at least in our market.

Since you're right in Clearwater, I would strongly suggest visiting some of these homes near Disney, or even spending a weekend. You'll learn a lot! Good luck!

Quote from @Raymond J. Rodrigues:

@Alice Horn do you have any recommendations for @Subhosh Kiran Perikala?

Sure! @Subhosh Kiran Perikala feel free to reach out and we can review how a gameroom can increase your revenue and also recommend decorating partners.

We are property managers in Orlando and happy to connect you with investor-friendly agents in the area. We don't recommend condos in MOST of the Disney/Orlando area because the market is oversaturated and you will be competing with 1000's of hotel rooms. If you're looking for a smaller unit, you will want to focus your search on a townhouse with a minimum of 4-5 bedrooms and a pool to get decent rates. The Orlando STR market is focused on families and you want to make sure your home can accommodate multiple family members or groups of friends. Have fun with your search and don't hesitate to reach out!

Love this thread, thanks for getting this started @Nikki Stoddart!