Hi everyone,
I've been interested in getting a STR property in Florida. I really want to know the rentability in Kissimmee area since its super close to all the Disney attractions. As I am an out of state investor It is tough to truly know the area. But does anyone have experience with being an investor in this area?
It seems that rents are around 250 a night for 4 bedroom townhomes. There seems to also be a lot of competition and majority of these townhomes are investor owned.
When doing the research at 10% down for a 400k to 500k townhome and given HOA, taxes, and other things the occupancy rate must at least be 70 percent to make this even worth it unless I'd be barely breaking even. Unless someone can tell me its normal to rent >70% occupancy? seems like a lot of risk for low reward.
Anyone have some advice in this area?
