All Forum Posts by: Benjamin P Scribner

Completely agree with @Ryan Moyer. Sure, there are thousands of vacation rentals in the Disney market. But the majority of homes are fairly average. So here are the things to look out for:

- Location. Obviously, anything closer to Disney is a plus. Windsor Hills and Storey Lake are some of the closer communities. Homes are pricier, but this will be offset by higher rates. We are also seeing increased interest in Emerald Island, an older resort with homes that can be renovated. Championsgate, Windsor at Westside and Solara are a bit further but they have great amenities which are also very popular.

- Updated decor. Those mustard yellow walls, giant four poster beds and 90's decor in general gotta go! Updated decor is a must, and it can often be done creatively so you don't have to refurnish the WHOLE house.

- Pools are a must. Smaller homes and townhomes without pools just don't perform as well. There are a few exceptions with condos that do well, happy to chat about those.

- Theming. Families travel to Orlando for the whole Disney/theme park experience, and they want that experience reflected in the homes. Kids often make family travel decisions. Look for creative theming that can set your home apart and make it a wow for kids.

- Game rooms. Here again, cool lighting, graphics and equipment will set your home apart.

- View from the lanai. If you can find a home with a forest or lake view, that's a plus. If it faces west, even better.

Happy to chat and brainstorm further!

Alice (and anyone else who wants to jump in), you mentioned above that there are a few condos that perform well. Which condo communities are getting more demand? I'm guessing they are the ones with the resort style pools (e.g. Regal Oaks)? Does a SFH also benefit from resort amenities (e.g. Story Lake), or is it enough for it to have a private pool? Current prices and interest rates are squeezing margins, so I'm looking for ways to reduce expenses (e.g. HOA fees). Do you think a house would rent if it's not in a community?

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@Jason Regan thank you for the awesome analysis. This is a huge help! I knew I had to be high in a few places. I'm glad you can still turn a profit with a similar HOA. Regal Oaks looked like it would be appealing because of the resort pool and proximity to Disney, but I didn't know if I could still do it with that HOA.

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@Tyler Gibson, that's good insight. I've been primarily looking at Royal Oaks, Compass Bay, Story Lake, and Varanda Palms. I'll check to see if they include cable in the HOA.

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I'm new to STR investing and could use a "gut check" on my estimated expenses. My plan is to purchase a townhouse or SFH in the Lake Buena Vista (LBV) area and rent it through AirBnB for positive cash flow most of the year. My Google search found "Kissimmee short-term rentals on Airbnb and Vrbo average 74% occupancy, $273 daily rate and $4229 in monthly revenue" -- AirDNA. That sounded great until I compiled monthly operating expenses at $3,797 per month!

Market forces are driving a lot of the high operating expense. Current LBV real estate prices ($305K - $480K) are so high that more than 50% or more of the monthly expenses would go to paying the mortgage. I'm trying to keep all other expenses as low as possible to make this work, but I also want to be realistic.

Do any of these numbers sound outlandish?

$267/Month - Taxes (based on Osceola website)

$245/Month - Insurance (based on Zillow listing in Regal Oaks)

$145/Month - Cable/Internet (based moneysavingpro.com)

$117/Month - Repairs ($1/sq. ft. for Zillow listing in Regal Oaks)

$180/Month - Capital Expenditures (best guess)

$400/Month - Utilities (10% of anticipated monthly rent)

$475/Month - HOA (based on Zillow listing in Regal Oaks)

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All Forum Posts by: Benjamin P Scribner

Benjamin P Scribner has started 1 posts and replied 4 times.

Post: Is Kissimmee Oversaturated?

Post: Estimating Expenses Near Disney World

Post: Estimating Expenses Near Disney World

Post: Estimating Expenses Near Disney World