Advice on investing in Oviedo Fl

[Jessica Rhodes]

Hi!

My name is Jessica I’m from Tampa, have a duplex in Seminole Heights that I’m currently house hacking. Thinking of buying in Orlando next. Anyone know anything about Oviedo? It’s close to UCF so thinking student housing...

I know the Orlando proper area is already way too saturated and I don’t really care to try and compete with the Airbnb crowds of Kissimmee. But like the Orlando area and trying to think of other areas that might be good.

Thanks BP

[Traci de Wid]

I'm a realtor in Oviedo and a portion of my business is with investors that tend to purchase in and around the UCF area. I would not recommend Oviedo for college student-targeted investment property unless it's being purchased by a student for longer-term value. Even then, it can be prohibitive from a cost perspective. Prices are higher in Oviedo than the Orlando areas around UCF, but probably more important is that many of the communities have HOAs with restrictions on renting. A few even started insisting that tenants be approved by the HOA and are requiring that tenants be members of the same family (or cohabitants) - this true for Oviedo and the Orlando areas right around UCF. Homes with 3+ bedrooms renting to students get flagged easily because of parking issues....once you have more than 2-3 cars for one household, parking spills into the streets and winds up in front of neighboring homes. As Oviedo is really more of a family-type environment, group homes stand out in a flash and HOAs move quickly to start fining. There are always exceptions...but those get snapped up quickly.