Condo's to Vacation rentals next to Theme parks?

[Chris Brown]

Hey guys & gals My names Chris's and I'm brand new to the site! but I'm very excited about getting into rental properties. So I currently Live in Orlando FL, Close to all the major theme parks. I've been thinking about getting into Vacation rentals in my area. Thinking about getting into a Condo if the situation is right. I hear a lot of horror stories about the HOA's involved with condos. Any advice for things to look out for? Also I work for a major airline and can get anywhere and would like to expand this idea to other states one day. Any advice would be great for a newbie! Thanks!

[Greg Scott]

@Chris Brown

Avoid condos as an investor, they generally don't return as well as single family rentals.

Avoid condos if you want to get into short-term rentals. Your HOA will probably be fighting you every day to stop because nobody wants to live in a condo next to an AirBNB rental.

Your plan seems sound if you choose to buy a single family rental.  However, be aware that short-term rentals have a lot of moving parts and require constant care and feeding.  You may want to start with long-term rentals and get your feet wet that way first.  Long-term rentals are probably the least time-intensive.

Before buying, I recommend you get a mentor to help you through the bumps in the road