All Forum Posts by: Travis Rasmussen

Hi,

Our family is interested in purchasing a home for STR in the Kissimmee area. We are between getting a 3 bedroom, 2 bath condo in Windsor hills (in the mid 300s) or a 5 bedroom 4 bath townhouse(in the mid 500s) in Storey lake.

Our question is which is better? And is a condo in Windsor hills profitable? we can’t find any info on the potential revenue for either one. 

Thank you all so much for your help!

I need help! I am on a contract to purchase a 4b2b single family home which I am planing to do STR/LTR but I am not familiar to the area and I don't know if it will work in the area. The property is in Kissimmee, my goal is to furnished and rent out the rooms. If someone is familiar to the area can he tell me if the area will be good for STR/LTR??

Investment Info:

Townhouse buy & hold investment.

Purchase price: $490,000
Cash invested: $150,000

STR Near Disney

I am trying to understand what is happening with rentals in Kissimmee FL area. For years I have rented out homes and never had issues finding people.

Typically I use Zillow to find renters and get a lot of traffic-more like 25 leads a day. This time after I paid Zillow I received 10 leads in 6 days. I then added the property to other platforms(Avail and Apartment.com) Still no leads. I reviewed my asking price(Zillow estimated I was $300 below what similar properties were asking), I changed my photos and had better pictures. By the 10 day I was now receiving zero leads. I then paid to be on MLS(Have now been on MLS-5 days) Still zero leads. I know its August -typically slow but here in VA/MD we still have a lot of activity(I was using that as an indicator) Florida has always had such a strong demand - I am lost. Can someone give me an insight into that rental market.

I'm in a very similar position. Do any of you have any numbers to share with me on a townhome and condo in Windsor Hills? They're both asking for about $15-20K over what's been selling recently. It most likely won't appraise at the asking price, I have the funds to cover most of the difference for the townhouse and all of the difference for the condo after putting 20% down. This will be my first STR investment. Any data on making this decision will be greatly appreciated!!!

Hey BP,

I'm in the market to purchase my first Short Term Rental. I live in Orlando and want to invest locally. I have $75K to invest and pre-approved for $325K purchase. I've done quite a bit of research but realizing I need to narrow down on my strategy and wanted get some advice between these various paths:

1. 200-250K Townhouse in desirable community like Windsor Hills / Paradise Palms. Well within my budget and could very comfortably carry this if needed, as well as have extra cash to make the rental stand out. However, these tend not to appreciate and have high HOA costs. From what I've seen it looks like these still cash flow well though.

2. 250-275K Single Family 3-4BR house that needs work. I'll be able to customize the house to stand out, however these tend not to be in desirable areas / slightly further away from Disney, and I may not have enough to do much with (50K down + 15K furniture leaves 10K for rehab, excluding any holding costs). Also, communities with no/low HOA's typically have no amenities. However this would be the option with the most appreciation.

3. 325K Single Family 5+BR house. The kind of house I'd expect to perform the best is the huge 2800+ SQFT, 5+BR pool home. The problem is any house like this in a desirable area like Windsor Hills is easily over 400K. There are some for this price in other areas like 27 or Davenport, but I'd be at the very top of my budget, in a further market, with little leftover to make the place unique. 

Looking forward to your thoughts. Thanks!

I and my partners are also looking in Kissimmee area. Can you PM me or provide me rough numbers? My partner is already closing this week in a 4/3 SFH this week but we are looking to add more to our portfolio.