Liners I know many of you are local or have purchased a vacation home. We are starting to think about purchasing an investment property in Orlando area. Definitely looking for the ability for short term lease. I have started to look on Trulia but really have no idea of area. We really want to rent out as much as possible with the ability of us to use for a few trips throughout the year and then a winter retreat when we retire (6 or more years away) but most likely only from January through March which is why I want to rent it out and continue to even after we retire for I don’t want to leave it vacant. Can you give me some ideas? Would like to stay in the $250,000 price range is possible. Also so concerned with HOA fees, please advise what I should expect. Would like to have some knowledge before engaging real estate agent and pre-qualifying for mortgage. So knowledgeable liners your thoughts!
I don’t own anything in the area, but my brother has been looking for a couple of years now. The biggest thing that I have seen is that there are just so many rental properties, it can’t be easy to keep them rented. My brother is a teacher, so the times when they would want to go are the biggest rental times. I know you said that in the future you would use it during off season, but what about now?
More than anything I would seriously consider the financials. Do you want it to pay for itself? That is extremely hard to do with vacation property, particularly in Orlando where there is so much to choose from.