Long Distance Investor looking in Orlando, FL

[Jake Jaenicke]

Hey, Bigger Pockets Community!

My girlfriend and I have an opportunity to partner with a private lender to secure a house in or around Orlando, FL that will be used for STR. We are living in Southern California and are unfamiliar with the location. We have done some research on the neighborhoods and identified a few that seem appealing, but nothing too promising yet.

We wanted to see if anyone has neighborhood suggestions and any tips for buying in or around Orlando. 

We are looking for a 3Bd/2Ba for around $400,000 that is move-in ready (or light renovations needed). We do have someone on the ground in Orlando that can manage the daily operations of the Air BnB, so no need for a property manager.

We are new to investing but are both extremely determined to both get this purchase, and one of our own under our belts. We appreciate any feedback!

Happy almost Friday!

[Alberto Nikodimov]

Hey @Jake Jaenicke,

It all depends on exactly what you are looking for and what's available out there. As you probably already know, the inventory in Central Florida is pretty low and you have plenty of buyers to compete with! You are also limited to properties which are allowed to do STR.

My advice is: Make sure you verify that you are allowed to do STR with the property you are purchasing and obtain the required licenses.

Having someone in Orlando will be helpful, just make sure they are qualified and you are protected.

I will be happy to connect and have a chat with you. A brief overview of the market could be useful. I can also recommend few communities you should look into depending on the returns you are expecting!

Good luck!