Investing in Florida - Short stay and long term?

[Catherine Underwood]

I have been looking at investing in Florida. For my research, the following seems to be the case:

Orlando initially seems to be a great place to invest. Short stay rentals can generate crazy high gross revenue. However, the fees involved with management companies are so high, that it’s impossible to make a good profit.A $50K gross revenue can easily end up as $2K net, which is pointless. 

Long term rentals seem to do better.

However, if doing long term rentals, it's probably better to consider Tampa, as the rents are higher.  This is especially the case if one purchases a multi-family home. However, as it is a developing city, one has to be vary of issues such as crime, which seem to be higher than Orlando. It might also be harder to get a good tenant. 

Is this correct? I’d love to hear opinions from people who have properties in Orlando and Tampa. What’s your experience been like.

Thanks!

[Tyler Gibson]

@Catherine Underwood I can't say much about the Tampa market but I can say that Orlando is a great place for long term rentals. I think the market rents are likely the same between Tampa and Orlando. There is a high demand for rentals in Orlando as this place continues to see high population growth. We will continue to see rental rate to climb over the next few years as the population continues to grow and the inventory for quality rentals get smaller and smaller. Like I said I can't speak to Tampa but if you have any questions about Orlando feel free to reach out.