All Forum Posts by: Keith Courtney

Bernie -

We have pro forma statements for vacation homes in Windsor Hills as well as for other vacation homes in surrounding communities.  The statements show what you can expect for rental income and expenses (including property taxes, insurance, property mgt fees, marketing, etc.)  Feel free to contact me if you would like to see any of them.

- Keith  

Hi Tiffany -

You are probably wanting to stay on the west coast, but I'll mention this anyway.  Ten minutes south of Disney World here in Central Florida is a great resort for corporate events. The name of the resort is Reunion.  It has 3 golf courses (designed by Nicklaus, Watson and Palmer), a tennis center and water park.  It also has a corporate meeting center.  All of Reunion is zoned for vacation rentals, so many of the homes are used for corporate events. Reunion is perfect for what you are talking about because of all of the facilities for corporate meetings plus Disney World, SeaWorld and Universal are not far away for family members of the attendees to enjoy.

Just a thought . . .

Keith

Hi @Monika Haebich -

I admire you for taking on what I think is a rather daunting task.  I will be very interested to see what numbers you come up with for here in Central Florida.  We have a huge vacation rental market due primarily to Disney World.  Our market is so varied.  Some vacation homes do very well, and a lot do not.  It will be interesting to see what the average numbers look like in your report for this area.

@Jeff Kehl mentioned that he never hears back from realtors when he asks them for financial data about a certain area.  To add to that - I have found that many vacation home owners do not have a grasp on the numbers of their own homes.  So many buyers purchase vacation homes without an analysis of what it will take for their home to be profitable.

Your report will be a great starting point for investors.  Investors can take your report and then dig into an area looking for the best investments.

Please let me know when your report is finished.  I would appreciate a copy of it.

Thanks,

Keith

Ruta 

I am partial because I live here - Orlando.  The average temperature here in January is 71 degrees.  There is so much to do including the theme parks, golf and many other types of outdoor recreation, performing arts, and the Atlantic Ocean beaches and the Gulf Of Mexico beaches on the east and west coasts are only a little over an hour away.  And, if you want to rent your home during the times you are not using it yourself, there is a large market for that!

Keith

Jacob -

There are a lot of discussions on BP where there are many positive comments about vacation rentals.  I am in Central Florida where there are 1000's of vacation rentals around Disney World. Some make money, and a good many of them don't. The profitable ones are in good locations, offer the right amenities, have good property managers and have a good marketing plan to secure rentals. Vacation rentals are like all other types of real estate investments - there are good ones and bad ones.  You just have to do your due diligence to give yourself the best chance in investing in the right one for you.

Good luck,

Keith

Shabeen -

I am in Orlando and deal extensively in short term rentals.  The short term rental market here is huge because of Disney World, SeaWorld and Universal Studios primarily, and it's year-round.  I can give you some guidance about where to look for condos with the most potential for appreciation and rental income.

Feel free to contact me.

Keith

Hi Aleejandro -

I would recommend that you should at least take a look at the Central Florida vacation home market around Disney World.  It's a year-round market because of Disney World, Universal, SeaWorld and other entertainment venues.

If you would like some pro forma numbers on select vacation homes here, please feel free to contact me.

Good luck,

Keith

Chris -

Maura made some excellent points in her posting above.

The path of least resistance for you will be to deal with a local banker that you get to know personally and that understands your business.  One key will be to educate the banker about the vacation home business, which he/she may not have had much experience.  Another key will be to have detailed pro forma statements based on numbers of similar properties.  Your first vacation home may be difficult to get a loan based on potential income.  However, as in Maura's case, once you have a track record, subsequent ones will most likely be doable.  Good luck!

Keith

Mar -

I am in Central Florida around Disney World.  I have had the greatest success with HomeAway/VRBO and FlipKey.  Those websites seem to produce the most inquiries for our rental market we have here.

Keith

Hi Ryan -

I am in Orlando, and the vacation rental market here is year-round because of Disney World, Universal Studios, SeaWorld, over 100 golf courses and our other entertainment venues.

I would suggest that you research this area.  As is true with most other vacation destinations in the world, there are some good investment properties here and a number of bad ones.  If you would like more details, I will be happy to help you in any way that I can.

Good luck,

Keith