Orlando Investment Properties

[Josh Rayle]

We recently built a home in Orlando (Dr. Phillips area) and plan on relocating within the next year.  I'm in year one of a 3 year non compete so I'm currently not working...  I'm looking to get into real estate investing in Central Florida.  The problem is I don't know the area well enough nor am I connected to anyone in the area who's involved in real estate.  Ideally I would like to pick off 1-3 single family properties in the next 12-18 months that will generate long term rental income.  I've read several articles & posts on here but would like some input from investors/realtors in the area on where to get started.  Is it better to look for properties in Orlando proper or search surrounding towns like Kissimmee/Winter Garden/Lake Nona?  Suggestions on real estate agents who specialize in rental property searches?  Property management suggestions?  I appreciate any help/suggestions/guidance you can offer in my search.

Josh

[Russell Holmes]

@Josh Rayle I see much better rental numbers outside of Orlando proper. Home values in places like Apopka are significantly lower than trendier Orlando, yet rents don't lag behind by nearly as much. Apopka has several new toll roads nearing completion that finish off the greater Orlando toll loop. FL Hospital opened a $203m hospital campus in late 2017 and Orlando Health just acquired 51 acres in northern Apopka for a hospital campus. The best rent numbers appear to be on smaller than median homes. A $250k house here may only rent for $1900/mo while a $130k house could rent for $1450. It takes local knowledge since some areas vary widely while being blocks away from each other. I grew up in Altamonte Springs and have lived in Apopka since 2009. There are pockets of ideal rental homes in many of the outlying parts of town. I'd be happy to chat more about it if you'd like.