Buying in Orlando

[simon]

Hello to you all,

My wife and I are going to buy an STR in Kissimmee. We have done a lot of research, and even been over to veiw various different properties. We have decided to narrow our search down on to the larger two storey houses that can accomodate 10-15 guests becuase there does not seem to be as manay of this type of vacation rental available. We have found a couple in STR zones and are looking to pay about 200K.

Does anyone have any thoughts on this. Obviously our running and utilities will be higher, but also the rental income will be higher presuming that there is enough demand for this type of house.

The particular house we have found is 6 bedroom with a screened pool and jaccuzzi, but does back onto another screened pool.

Does anyone know of any listing that match my criteria that may interest me?

Thank you in advance of your advise, and I look forward to being asble to help others when I can.

[chris]

Welcome to the forums Simon
Make sure you get a good buyers agent. They will have access to the MLS listing service which shows most resale properties available. They will also make certain that the property you buy is within STR zones, with no likelihood of it changing in the near future. My realtor is very good. His name is Alan Martin, tel no 1 407 832 4888 or 1 877 438 6815. Say you were sent to him by Chris Rackstraw.
You can look at some of the available homes by going on to www.realtor.com
IMHO you will do well going for a larger property. There are too many 4 bed homes to make it easy to rent out. Also you can always let to smaller groups and reduce your prices. People like to holiday in a home totally different to their own homes.
If you have specific questions go into the search facility on the forum and put in key words and you'll get a wealth of information.

Chris

[esprit]

There is a lot of compettiton out there. Try and get a house with a USP which makes it stand out from the crowd. The jacuzzi is a plus point but the overlooked pool is a negative one. Which way does the pool face? A south facing pool is another positive point. Which estate is it on as position is important?
I would agree about getting a buyers agent ( they are paid out of the vendors agents commission so their services are free). A 6 bed is a good idea. Chris and I both own 4 beds and we both know what that there are too many houses out there at that size scrabbling for the bookings!! The people who own this site have just bought a new 7 bed so they must think that there is a market out there for larger houses.

[Harmony]

I agree with all the above, but would also stress the importance of sorting out a GOOD Management Company, and your Tax situation. Unless your MC does your Sales Tax for you, it will take you quite some time to get registered and set up for filing tax returns. I would also put in a word of caution about rentals. Do not believe people who promise you gauranteed rentals and do not get yourself in the financial situation of being dependant on rental income. You need to be able to cover costs when rentals are sparse.

When we started out we went 8 months before we started getting any rentals and it was only finding Orlandovillas.com that saved the situation. With the current political situation none of us know what is going to happen in the future that might adversly affect renting.

On the positive side I have to admit that we love our villa and get great satisfaction from being a villa owner.:D We wish you all the best of luck with your endeavour.