All Forum Posts by: Keith Courtney

Zach -

What kinds of real estate investments will be your focus?

Keith 

Matt -

I'm in the Orlando/Disney area. I totally agree with what your study revealed.  I see it everyday. Vacation rentals, that are either new or recently refurbished and that are in good locations with amenities vacationers want, rent much more often at a much higher rate. Thus, they are much more profitable. When investors buy resale vacation homes, it is so important that they refurbish the homes. Unfortunately, many don't because they don't have the cash to do the refurbishing after making their purchases.

Regarding the refurnishing every 3 years, it all depends greatly on the quality of the furniture and the location of the furniture in the home.  Other than mattresses, bedroom furniture usually lasts longer than furniture in the common areas of a home. Regardless how often refurnishing is done, it is so important that it is done to keep vacation homes "new".

Thanks for the information above.

Keith 

@John Kent - Thanks for the mention above.

Michael -

As John mentioned above, my major focus is vacation homes here in the Orlando area.  I deal with many foreign nationals and have a number of good contacts that can help you with all aspects of your ownership of a vacation home from a property manager to filing U.S. tax returns.  I personally can help you with pinpointing the right vacation home for you that will meet your personal needs and one that will generate a good income when you are not using it.

Feel free to contact me.

Keith

Marty -

Yes, I can help you with other recommendations. When we talk, I'll be able to give you some guidance based on your needs and goals.

Keith

Marty -

I can provide you with guidance regarding vacation rentals here in Orlando.  And, I have pro forma statements to back up what I tell you.

If you would like to discuss vacation rentals, private message me and let's set up a phone call. Obviously, I have no idea if vacation rentals would be a good fit for you. I at least can give you enough detail for you to make that decision.

Keith

Hannah -

I am in Orlando, home of Disney World and a very large vacation rental market.  I am going to attempt to answer your questions based on what I witness here.

1) As a general statement, single family homes yield better than condos due to they offer more amenities and can garner a higher nightly rate.

2) This is a tough one to answer because there are so many variables.  Regarding the number of bedrooms that have the highest occupancy rate, I don't think that can be answered.  The homes that offer the best amenities in the best locations achieve the highest occupancy rates regardless of the number of bedrooms.  Regarding the highest returns, generally speaking the larger homes with a greater number of bedrooms yield the best returns because they bring higher rental rates and their costs are not significantly higher than smaller homes with less bedrooms.

3) Peak seasons here are the holidays - Thanksgiving, Christmas, and Easter - and the summer months of June, July and August.  Occupancy rates during those times are 80-90% and even higher.

4) There are thousands of vacation rentals here, and I have not seen an average occupancy for all of them.  I know there are a number of homes that don't do better than 50%.  There are also homes that do 67% up to 90%.  As stated above, location and the homes themselves are the two most important factors that will determine the occupancy rate.

5) This is the easiest question to answer. Definitely remodeled vacation rentals have higher occupancy rates, higher nightly rates and thus greater ROI. Most vacationers go to HomeAway/VRBO, FlipKey and the other rental listing websites to find vacation homes to rent. They base a lot of their decisions on the photos they see of each home. I have seen over and over people will pay more per night for a vacation home that is new or newly remodeled than they will for an outdated vacation home. When I guide an investor in purchasing a resale vacation rental here, I make sure that the investor has enough cash to pay for all needed renovations.

I hope this helps you.  Feel free to contact me directly if I you have any other questions.  

Good luck,

Keith

Jo -

I am in Orlando.  We have a very large vacation rental market here due to Disney World, Universal Studios, SeaWorld, great golf courses, and a number of other entertainment venues.  We are also only 1 to 1-1/2 hours away from beaches on the east and west coasts.

Many vacation home owners use their homes as you described - use their homes when they vacation here, and then short term rent them when not using them.  It's a double win when you buy the right vacation home - You stay for "free" when you use your home, and you make a good return when your home is short term rented.

I have a pro forma statement on a home that is priced in your price range if you would like to see it. The vacation rental will require an appox. $69K cash investment (includes cash for  upgrades/renovations) and yield an approx 15% return on your cash invested.

Good luck with your search.

Keith

Adam -

If you would like to investigate vacation rentals south of Orlando near Disney, contact me, and I will send you pro forma statements and other info.  You'll see that some of the homes can produce a very attractive return on your dollars invested.

Keith

Lily -

Are you looking for a single family home?  Do you know what area of Orlando?  What is your budget?

Keith

$10,350 Net Annual Cash Flow after all expenses including mortgage payments–
15.0% Return On $69K Cash Invested (includes loan deposit plus $25K for upgrades)

4/3 short term rental vacation home with features after upgrades like below in Kissimmee, FL, near Disney World, championship golf courses and other fun venues - DOUBLE WIN for you–“FREE” personal/business use and a GREAT investment from short term rental income

For Pro Forma - http://ow.ly/itS7301WIfr