STR in Sanford, FL. Yes or no?

Question

My husband and I live in Ontario, Canada and we are looking to buy an investment property in the Sanford, Florida area and would appreciate any assistance or information on that area. Looking to also find a property manager in that area.

Shawn McCormick · Answer

@Carley Wragg I have a few investor friends with STR in Sanford and the do quite well. One is literally finishing up an ADU on one of the properties because the demand is high and competition is low (everyone thinks they have to be by Disney) Fact is Sanford is a nice little town and growing as Aubrey said..right on the money. But STR in Orlando are not just for the theme parks. Funerals, grandkids, hospital visitors, traveling nurses, just visiting family, and all around people looking to stay AWAY from the parks and have something affordable will turn to you. I have other friends that do well in Eustis, Deland, Leesburg and other outlyers for the same reasons. Provide a nice product at an affordable price and they will seek you out.

I would caution zoning laws can/will eventually catch up with you, but then you can always go long term, just run numbers for both and enjoy the ride while you can. I have several property managers that cover that area as well as some co-hosts if that would be a better fit. Good luck!

Tyler Schmitz · Answer

Is there still a STR ban in Seminole and Volusia counties? If so, where can I find info about it? Seems like there are quite a lot of AirBnB listings in these areas. If there is a ban, how does it get enforced?

Carley Wragg · Answer

Amazing thank you so much that is so helpful. We might end up looking at long-term rental instead of short term rental. So that information is also helpful. Thanks

Valentina Naumenko · Answer

Greetings. STR are NO go there. STR are good by the Disney area. 10-12 miles from Disney the max. Hopefully it helps

David Niles · Answer

Sanford has come a long way in the past few years.  Downtown and bars / nightlife are booming and building more daily.  Outside of that direct area is still alot of hit and miss but with most things, will eventually catch up.  The question is what you want to accomplish long term, short term etc and that helps answer questions.

Sure Orlando etc are the "it" places but so is the pricing.  I have a few other Canadian investors starting to look in that direction as well so anything I may help you with, drop me a line. We have a local brokerage and are getting our PM side up and running.

Jason Shackleton · Answer

Hey @Carley Wragg Fellow Ontario real estate investor here! Are you intending to hold this property in an entity such as an LLC? If so I would be carefull. It's very possible you will run into a double taxation issue. I know a lawyer who has been helping foreign nationals invest in the U.S from all parts of the world for over 15 years. She used to live in Canada. I would be happy to connect you to get that entity set up properly.

Aubrey E Alleyne · Answer

@Carley Wragg Sanford, FL is pretty much close to nearby cities like Lake Mary, Altamonte springs, Longwood, DeLand, and further south Orlando,FL. Best recommendation is to just do your research and be careful where you plan to acquire your home. Mainly because Sanford has started in the past years the development of new construction homes in areas but there are still many areas with older homes that tend to need a lot of work and of course bad neighborhoods, such as anywhere else. Also, be careful with zoning for STR as I have not personally invested in Sanford (Seminole county) but do know in the newer neighborhoods they may not be big on the idea, as I have many friends that live in those areas.

Pros of Sanford is that they have really built out there downtown area and it's very nice. Also, many people I have found chose to live there because of affordability vs buy/live in Orlando or Lake Mary which is pricier in concept. They also have an airport that makes traveling there directly alot easier and there are other nearby ventures in the closer cities that attract people there.

Also, I am not aware of any property management companies in that area but I am sure they are not difficult to find.

Hope this information will be helpful for you.

Carley Wragg · Answer

hey, thanks for the reply it’s a little place just north of Orlando. I’m not sure what the emery method is.

Luke Carl · Answer

Never heard of it. Use the enemy method. If you use a property manager you will not make money. Which is fine if it’s a second home. But you can’t use a second home loan and a property manager. Welcome to the party.

Joe Splitrock · Answer

I feel like the only people who would choose to stay in Sanford are people who don't know where it is located. The only reason I know Sanford is that Alegiant Airlines flies into there. The drive to Orlando from there sucks, so I prefer to fly Delta directly into Orlando. Every city has some market for short term rentals, but Orlando proper is going to have considerably higher demand. Even if you pay much more for the property, the nightly rate will be much higher too.

STR in Sanford, FL. Yes or no?

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