Anyone buying in Kissimmee for short term rentals right now

[Matthew Edge]

I currently invest in SFRs un Ohio, but have been looking at buying some SFR in the Kissimmee area in the near future for STR use (family has one in Miami that does pretty well).

I'm fairly familiar with the area and what people look for when they rent on Airbnb, as I have been down there multiple times recently for vacations. I would love to go ahead and buy one, but am wondering what people who buy in that area think of current prices. Do you think prices will soften a bit here in the fall/winter or when foreclosures start to open a little bit? Is anyone buying off the MLS for short term rentals and making it work pretty easily? The high prices are just scaring me off from buying right now.

[Shawn McCormick]

Hey @Matthew Edge what part of Ohio, I picked up a couple rentals in Toledo this year and looking for more.

As far as Kissimmee, I've sold over a dozen STR's there this year and all of my clients are doing well. The ones that purchased earlier in the year got great deals, but the ones that closed at higher prices are still making it work.

Disney is celebrating its 50 year anniversary, new sections of the theme parks are opening and International travel is not even up to speed yet..so the future looks bright. I will be somewhat tough if you don't buy soon as the holiday bookings will make it difficult to transition, get inspections and closing dates to coincide with very tight windows and also the possibility of cancelling existing reservations for people that have big holiday bookings.

Depending on what type of property you are looking at will make big difference also. A condo or townhome may be easier than a larger single family like a 7-9 bedroom, but those sizes are the real money makers (IMO). Prices are holding steady as there is very little inventory. I'm not seeing 10+ offers on a single property, but if a good one comes up that is truly turnkey, they still go fast. I believe that will only get worse as International investors come back and start buying up what is left. There are only a few new construction communities building in true resort complexes and they have wait lists for months, so the demand is definitely there.

Hope this helps a little, let me know if you have any deals in Toledo!