Need guidance on Orlando Airbnb Investment

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Need guidance on Orlando Airbnb Investment

Warren Mitchell
Member since 2018 · 16 posts · 2 votes

Looking for guidance on investing in airbnb property in Orlando.  Live in Denver.  Up to 500k but would be happy with smaller investment to put our toes in the water.  Would love to here from investors who could give recommendations on agent selection.  Open to different occupancies but would really like to find a traditional single family with a in-law suite to be used as an airbnb.  Will be visiting in February and would like to have a solid direction by then if not earlier.

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Keith Courtney
Real Estate Brokerage/Vacation Homes/Short Term Vacation Home Rental Marketing · Orlando, FL · Member since 2013 · 159 posts · 127 votes
7y

Warren -

I can help you.  I deal almost exclusively with short term rentals in the Kissimmee area near Disney World.  I can send you pro forma statements and other helpful information.  I'm going to private message you.

Keith

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  • Jenny Morrison
    Investor · Orlando, FL · Member since 2015 · 12 posts · 7 votes
    7y

    City of Orlando has just squashed all "entire home" Airbnbs in the city limits. Look for something outside of city limits. That said, it's a very saturated area with a lot of competition, but we've always been booked solid.

    3Reply
  • Rachel N.
    Orlando, FL · Member since 2017 · 147 posts · 92 votes
    7y

    Seconding what Jenny said - the city of Orlando has cracked down on this, and my sense has also been that the Airbnb market is saturated. I think you could look in Osceola County, though, as long as you're not too far away from the attractions. 

    1Reply
  • Warren Mitchell
    OP
    Member since 2018 · 16 posts · 2 votes
    7y

    Thanks Jenny.  Same thing is happening in Colorado.  Looks like airbnb could be dead.  I will check out Kissimmee.

    0Reply
  • Chris Grenier
    Flipper/Rehabber · Orlando, FL · Member since 2016 · 311 posts · 150 votes
    7y

    There is always good demand in the Conway / Airport Area for obvious reasons. 

    But with a budget of $500K, even $250-300K you can get a very nice single family in the Davenport / Kissimmee area for short term rentals / AirBnB. In that range you're looking around a 3-4 Bedroom / 3-4 Bathroom Pool Home Built 2005+ 

    1Reply
  • Keith Courtney
    Real Estate Brokerage/Vacation Homes/Short Term Vacation Home Rental Marketing · Orlando, FL · Member since 2013 · 159 posts · 127 votes
    7y

    Warren -

    I can help you.  I deal almost exclusively with short term rentals in the Kissimmee area near Disney World.  I can send you pro forma statements and other helpful information.  I'm going to private message you.

    Keith

    5Reply
  • Peter Miranda
    Member since 2018 · 1 post · 0 votes
    7y

    Hi Keith,

    Could you please share this information with me as well.

    Thanks

    Pete

    0Reply
  • Travis Rasmussen
    Realtor · Murrieta, CA · Member since 2016 · 373 posts · 203 votes
    7y

    @Warren Mitchell

    Awesome! It's a great area. I currently have two Airbnbs out there. What specifically do you want to learn?

    0Reply
  • Travis Rasmussen
    Realtor · Murrieta, CA · Member since 2016 · 373 posts · 203 votes
    7y

    @Peter Miranda

    Are you looking to get involved with this area as well?

    0Reply
  • Warren Mitchell
    OP
    Member since 2018 · 16 posts · 2 votes
    7y

    Foe those following. I have gone under contract on a home.  Keith Courtney is serving as my agent.  He has proven to be a good agent and of genuine character.

    0Reply
  • Christina Yun
    Rental Property Investor · Member since 2018 · 11 posts · 4 votes
    7y

    @WarrenMitchell - Congratulations!  I am so inspired. Would you mind if I reached you to you personally to hear about your experience? 

    1Reply
  • Mark Collins
    Member since 2018 · 21 posts · 6 votes
    7y

    @Keith Courtney

    I am looking to do the same as Warren.  Are you able to connect up?  If so, please private message.

    0Reply
  • Mario Mormile
    Investor/ Real Estate Agent · Burton, OH · Member since 2015 · 167 posts · 53 votes
    7y

    @Warren Mitchell how did your deal go? Curious to hear as I am in the market to buy. 

    0Reply
  • Warren Mitchell
    OP
    Member since 2018 · 16 posts · 2 votes
    7y

    Yes.  Came with about 6 weeks of bookings so we are starting renovations on April 24th.  Keith Courtney (realtor) and Prestige Florida Villas (Property Management) have been great to work with.  I will have more valuable insite in a few months.

    0Reply
  • Warren Mitchell
    OP
    Member since 2018 · 16 posts · 2 votes
    7y

    Yes.  Came with about 6 weeks of bookings so we are starting renovations on April 24th.  Keith Courtney (realtor) and Prestige Florida Villas (Property Management) have been great to work with.  I will have more valuable insite in a few months.

    1Reply
  • Matthew Bossick
    Investor · Orlando, FL · Member since 2016 · 13 posts · 3 votes
    7y

    Hi @Warren Mitchell, how's it gone thus far?

    0Reply
  • Michael Glaser
    Contractor · Nashville · Member since 2020 · 8 posts · 2 votes
    6y
    Originally posted by @Warren Mitchell:

    Yes.  Came with about 6 weeks of bookings so we are starting renovations on April 24th.  Keith Courtney (realtor) and Prestige Florida Villas (Property Management) have been great to work with.  I will have more valuable insite in a few months.

     Update? 

    0Reply
  • Kyle MccawBusiness Member
    Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
    6y

    any updates?

    McCaw Property Management4.4905 Reviews
    WebsiteView Page
    0Reply
  • Kenneth Hayes
    Specialist · Atlanta, GA · Member since 2019 · 7 posts · 1 vote
    6y

    Atlanta investor (Commercial) is looking to buy an AirBnB property here in Oceola County Kissimmee area. I have a max purchase of $250k. Has anyone seen any issues with bookings, and maybe to give some tips and tricks on keeping our place booked? I know reviews are key, but would it be worth investing in renovating or no?

    0Reply
  • Serena Kim
    Real Estate Agent · Orlando, FL · Member since 2019 · 59 posts · 90 votes
    6y

    @Kenneth Hayes

    Let’s take your questions 1 by 1:

    Budget: $250k - that will get you a 3br, maybe 4br in the Kissimmee area, which is where you can have Airbnb properties close to the parks. I would suggest raising the budget to $275k, as it would open up doors to much better properties

    Bookings: we are still getting booked without issues. With that being said, guests since the pandemic have become very detail oriented. In the sense that pre-covid you could have left a little piece of paper under the bed and would have been fine. Now, that guarantees a bad review for cleanliness.

    Suggestions for maintaining good bookings: cleanliness is number 1, 2 and 3. And, the difference between being Superhost and not is big. I’ve been fortunate to have maintained Superhost status this whole year, but covid forced me to up my game significantly.

    Renovation? Absolutely. What I’ve learned this year when looking for properties for clients is that a short term rental needs at least one Wow factor. What is a wow factor? Something very unique and special of your house. It could be fancy furniture, amazing pool with view, unique game room, etc. Plain boring house dont cut it anymore. A lot of guests now were former hotel customers and they have high expectations.

    Conclusion: what we are seeing and will see more off is covid forcing operators to up their game or force them out. That brings a ton of opportunities (and riches) for those that win.

    On another topic, we should connect! My next expansion project (early 2021) will be investing in apartment buildings in Georgia (between Atlanta and Cummins). Are you familiar with that market?

    Serena

    2Reply
  • Kenneth Hayes
    Specialist · Atlanta, GA · Member since 2019 · 7 posts · 1 vote
    6y
    Originally posted by @Serena Kim:

    @Kenneth Hayes

    Let’s take your questions 1 by 1:

    Budget: $250k - that will get you a 3br, maybe 4br in the Kissimmee area, which is where you can have Airbnb properties close to the parks. I would suggest raising the budget to $275k, as it would open up doors to much better properties

    Bookings: we are still getting booked without issues. With that being said, guests since the pandemic have become very detail oriented. In the sense that pre-covid you could have left a little piece of paper under the bed and would have been fine. Now, that guarantees a bad review for cleanliness.

    Suggestions for maintaining good bookings: cleanliness is number 1, 2 and 3. And, the difference between being Superhost and not is big. I’ve been fortunate to have maintained Superhost status this whole year, but covid forced me to up my game significantly.

    Renovation? Absolutely. What I’ve learned this year when looking for properties for clients is that a short term rental needs at least one Wow factor. What is a wow factor? Something very unique and special of your house. It could be fancy furniture, amazing pool with view, unique game room, etc. Plain boring house dont cut it anymore. A lot of guests now were former hotel customers and they have high expectations.

    Conclusion: what we are seeing and will see more off is covid forcing operators to up their game or force them out. That brings a ton of opportunities (and riches) for those that win.

    On another topic, we should connect! My next expansion project (early 2021) will be investing in apartment buildings in Georgia (between Atlanta and Cummins). Are you familiar with that market?

    Serena

    Atlanta is my market, know it very well in and out. We buy Self Storage properties, and looking at Multi-Family as well. We own a Syndication firm in Atlanta. I will be in the Orlando until next Saturday if you want to meet next week let me know. 

    0Reply
  • Roni E.Pro Member
    Specialist · Earth 2.0 · Member since 2019 · 598 posts · 271 votes
    6y

    I think right Orlando is going to take hit with Covid-19 I would wait till next year and follow what other have said about the laws/zoning. 

    0Reply
  • Rachelle Bisaillon
    Investor · St John, Virgin Islands · Member since 2018 · 43 posts · 10 votes
    6y

    Interesting Feed. I am also considering the Disney park area. I have a number of houses in Baldwin Park and Winter Park but wanted to venture into the Airbnb area in Orlando. Not sure what area to focus on so any input would be great from anyone who knows.

    0Reply
  • Maricely Veryser
    Member since 2022 · 1 post · 0 votes
    4y

    Hello everyone. Any updates now?

    We are from Colorado looking to buy in a Disney home. Why are so many Airbnbs being sold? Is the Airbnb market not as good?

    Some are even selling them with furniture and all. 

    0Reply
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