Str - vacation home in Orlando

[Mariangela Ciciarelli]

Hello, my husband and I trying to figure out if STR are for us, we are looking to buy possibly in Orlando, I see many complex by Disney.
Any advice from someone who is already investing in the area? I would really appreciate it. 

[Shawn McCormick]

Thank you @Michael Baum!

Hi @Mariangela Ciciarelli. This market is literally built for STR and yes, there are thousands of units and yes, it is very competative. Having said that you can make money here, but choosing the right neighborhood (resort) is key. Many other have warned about HOA's...stay away from any neighborhood that doesn't have an HOA and isn't zoned specifically to be STR. Orlando is not like the rest of the country where you can have a cabin in the woods or a treehouse and be unique..we are built for 75 Million visitors a year and they all need accommodations.

Most of the more successful units are larger and have fantastic themed rooms/garages etc. You can do well with a more simple approach, but it won't be easy either way. The days of just putting something up and hoping for the best are long gone. 

Here are two of my clients, this is what you need to be doing and many do it at a much higher level than these. 

https://www.airbnb.com/rooms/1014578316554072541?viralityEnt...

https://www.airbnb.com/rooms/1020198834070920531?source_impr...

Depending on your goals (using it for you and your family a few times a year and hoping it pays for itself, parking some cash for a few years and hoping for appreciation or strictly cash flow) will determine what size home and what your budget should be. This is not as passive as it is thought to be, but can be profitable and fun if you run it like a business. 

Happy to dive much deeper if you would like to set up a call. 

Best of luck!