All Forum Posts by: Steph Prince

Man you sound like my wife and I two years ago, right down to the healthcare burnout.

Now we own this place in Orlando, which has been one of the best decisions of our life: https://www.airbnb.com/rooms/5...

Happy to chat and share our experiences getting into that market, and share some contacts that can help as well.

I sound like a broken record, but to me Orlando makes a ton of sense if you have some cash to spend on theming.  Nice houses with nice furniture are a dime a dozen, but if you can be one of the 5% mega themed out, you'll do well.

@Steph Prince There are many opinions about any market, you have to see what your risk tolerance is and have faith that you pick qualified partners to help you in the purchase. Having an agent that knows the right community, a PM that can give accurate pro formas and keep your property in tip top shape, help you get great reviews and solid bookings. 

Orlando has all types of properties from condo-tels, condos, timeshares, townhomes and single family from 3 -14 bedrooms and all classes of communities from just basic to World class 5 star resorts with multiple golf courses and simply amazing amenities (lazy rivers, flo-riders, movie theaters, restaurants, arcades and so much more). So finding your desired demographic while staying within your budget can help narrow the communities you should be looking at. Many don't agree with having an HOA, but in Orlando, that is vital to your success in order to get your guests all of those amenities in a guard gated community.

The area is still growing, new STR projects are still being built and the future is even bigger than most know..check this out. (like this one..https://evermoreresort.com/) so lots of room to grow and be profitable.

Best of luck to you!

@Dale K Poyser you should always do a stress test analysis at a best case/worst case occupancy rate and daily rental rate to see where your break even is. I also recommend buying something as a STR only if it can carry it's weight as a LTR. That way, if something goes wrong, you have another option.

Hi Steph,

@Tyler Gibson has some great advice here as does @Dale K Poyser. With that in mind there are a few properties and subdivisions that are showing some incredible opportunity right now and have seen their entry points go DOWN relative to 3-4 months ago. Specifically some of the "smaller' communities like Tuscan Hills and Hampton Lakes are showing great inventory and pretty good ROI despite a 5-10% reduction in guest spend. Most of our projections are down a little to be honest but I'd rather meet a well prepared conservative investor than pie-in-the-sky. There's also steady performers like Bahama Bay that will always project around $35k and seeing their entry point drop. An easy starter for new investors if u can get condo financing.

Best of luck my friend.  And welcome to Orlandooooo! :)