2 bed 1 bath worth it?

Question

Hello,

we are trying to buy our 2nd STR property in Kissimmee/Orlando area.

we currently have 1 bed/1 bath condo in Kissimmee and it is doing well so far. ( been 2 month)

I am wondering anyone has 2 bed 1 bath property? How's it going?

I am debating should I buy 2 bed 2 bath condo or 2 bed 1 bath will work as 2 bed/2.bath.

current 2 bed 1 bath we want to phrachse, is on good location. Near Disney and has mountain view which gives privacy. Whereas little far from amenities like pool or gym.

What do you guys think?

Thank you so much for your opinion

!

Trent Reeve · Answer

there are no mountains  near Disney

Shawn McCormick · Answer

Thank you @Michael Baum!!

Hi @Sejin Kim I'm personally not a fan of condos anywhere, especially in Florida. But I have clients that own and are doing well, others not so much. If you aren't using it personally because you come to Disney alot and like the resort for your lifestyle, its hard to justify the expenses/assessments.

When it comes down to a 1/1 vs 2/1 etc, it may depend on the resort. If you are shopping strictly by price, you will likely not do well at all. If you are strategic and buy in a solid community (think Windsor Hills or Storey Lake) I wouldn't set my expectations too high. But if you are committed to purchase, a 2/2 would prevail over a 2/1, the price difference has to be nominal and now you might attract a different user like tow couples or adult friends that don't want to share a bathroom vs a young family that the kids are okay to use the same bathroom as the parents.

Happy to dive deeper to see what you are looking at and maybe offer some suggestions.

Best of luck!

Andrew Steffens · Answer

Typically speaking a 2 bedroom will bring in more if all other metrics are the same (i.e. location and amenities).

In saturated and competitive markets I really do not like 1 bedroom or even 2 bedrooms as the barrier to entry is low and you will always have a lot of competition, and you are even competing with hotels at that point.

Also building HOA's are scary, and Florida implemented the milestone inspection which means special assessments in most cases.

Without diving deeper on all the numbers I cannot it will not make sense, but in my experience it will not make sense more times than not and it is risky.

Brooklyn McCarty · Answer

Enemy Method is your best friend here. See what other properties in that neighborhood are doing.

Ryan Moyer · Answer

I beg to differ!

Jon Martin · Answer

I have a 2/1 SFR and it does very well. Although from what I understand, 1 bedroom units profit more per bedroom.

If you know the game and are scaling up, I would go straight to a 4/5 bedroom. 2 and especially 3 bedroom homes are the doldrums in most markets. The marginal increase in revenue going from 1 to 2 and 2 to 3 is, well, marginal. The biggest gains are going from 3 to 4 and 4 to 5+ bedrooms.

Alecia Loveless · Answer

@Sejin Kim I’m not sure there is much difference between hosting a 2/1 and a 2/2.

At some price point both make sense.

Figure out the appropriate price point and you can determine which deal makes more sense to you.

Michael Baum · Answer

Hey @Sejin Kim calling out to @Shawn McCormick who knows a ton about that area.

From what I understand, a place like that is a loser when it comes to making any kind of profit.

2 bed 1 bath worth it?

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