Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 8 months ago on . Most recent reply

User Stats

13
Posts
6
Votes

New to Orlando: Is Now a Good Time to Buy a Rental Property?

Posted

Hello everyone,

I'm feeling a bit indecisive about what to do next and could use some advice.

I recently moved to the United States 7 months ago, specifically to Orlando, FL. I've managed to save up $20,000 and I'm considering investing it in real estate. My idea is to buy a house and rent it out, so it can pay for itself while I live in a family-owned house.

Would you recommend buying a house in Orlando right now? How is the market currently? Every time I look for options, I can't seem to find anything.

Any insights or advice would be greatly appreciated.

Thank you!

Most Popular Reply

User Stats

1,071
Posts
847
Votes
Shawn McCormick
  • Realtor
  • Orlando, FL
847
Votes |
1,071
Posts
Shawn McCormick
  • Realtor
  • Orlando, FL
Replied

@Victor Del Hierro Welcome to the US and Florida! Florida is extremly sought after globally. The competition for quality properties is fierce. Pricing has been softening a bit, but values are still appreciating above the National average. Finding a quality property that cash flows (if that is what you are seeking) will be difficult. 

Buying an investment property (non owner occupied) will require at least 20% down and with median prices in the mid $400k range, you have a long way to go to save for your down payment. There are some bond programs both county and state level that you can get the downpayment and some closing costs paid or go new construction and do the same via the builder. Those will be opitons only if you live in the property, so you could house hack if that is a vialble option for you. 

Hope this helps

Best of luck!

  • Shawn McCormick
  • Loading replies...