You can start your investment journey in the Orlando market with Everest Place by reserving a condo at Mysk by Shaza.
1. Where to Invest in Orlando?
Location is a huge consideration when investing in rental real estate. Especially in a tourist market such as Orlando. There are many great neighborhoods and communities in Orlando to pick from. You can also look into master-planned communities, where they have shopping, dining, and entertainment built into the fabric of the community. MPCs (master-planned communities) make investing easy because they help maintain the value of your investment.
2. The Short & Long of Renting
If you’re in the market to buy an investment property in Orlando and want to rent it out to vacationers or locals, you must first know the rules and regulations based on renting in Orlando. New Airbnb rules have recently taken effect in Orlando, allowing property owners to rent out parts of their homes on a short-term basis. Here are the specific rules that Orlando homeowners should follow when renting out their property to short-term guests:
Hosts can only have one booking at a time
There is a maximum of two people per room
A maximum of four non-family members at a time in the rental unit
Hosts must register with the city, paying a fee of $275
A 6% state transient rental tax, among other lodging taxes, is applied to these short-term rentals. Airbnb automatically collects these taxes for its Orlando hosts.
This makes it great for those who have purchased vacation homes in Orlando as when they are not using the property themselves, they can rent it out to capitalize on the fantastic property and its prime location, especially if you are close to Disney.
More than 5.2 million people are predicted to call Central Florida home by 2030. With this increase in population, long-term rental agreements are still viable options for renters.
3. Market Trends of Orlando
The Orlando real estate market provides investors with fantastic opportunities, being rated as one of the strongest investment locations for years now.
For example, more than 36,000 homes were sold across Orlando in 2018. With prices going up by 82% in the last seven years, investors are being presented with plenty of attractive investment opportunities.
In 2019, due to the pandemic, we saw around $1.7 billion worth of homes sold across Orlando in the first months of the year. This number continued to increase throughout 2019 and is predicted to continue growing into 2020 despite the pandemic.
There is plenty of housing demand in Orlando, with a population of over 2.5 million and an expected growth of population of 2.3%. The most popular location in Orlando is Orange County, with 35% of Orlando sales coming from this area. In fact, homes in Orange County took an average of 60 days to sell in February 2019. This is due to local residents, vacation home buyers and investors looking for a prime location near Disney either to enjoy themselves or to capitalize on the booming tourism industry.
4. Vacation Homes in Orlando just make sense...and Dollars!
On the topic of vacation homes in Orlando and how they are growing increasingly popular and selling faster than ever. Orlando sees over 70,000,000 visitors annually which makes renting here extremely lucrative in highly desirable areas like the areas near Disney.
While the location is both well-established and well-regulated, there has been a decline in the number of guests staying in hotel rooms. This is because families, couples and individuals want somewhere more accessible and enjoyable to use as their base for the duration of their visit.
Resort-style vacation homes have become the new model for this. This is because of the fantastic range of facilities they can offer guests during their stay. For example, Everest Place offers unrivaled resort-style facilities including:
Shopping Village with restaurants and cafes
Multiple shops and boutiques
A huge 6-acre water park
Multiple venues for entertainment
A kids club
A Theme Park
Nickelodeon Resort
A Medical Center
Corpus Body Museum
Much Much More
5. It Is Easier Than You Think!
Orlando is one of the fastest-growing markets in real estate at the moment. This also means there are plenty of choices to contend with during your investment journey. For green investors, this can be a lot to take in, making it a more overwhelming experience than fun.
Everest Group of Companies has over 20 years of experience helping people to find Orlando investment properties for sale, we can ensure you find not only the best property but the perfect location for it.
If you are ready to enter the Orlando market, we are now taking reservations for Mysk condos which are a great place to start as they are just minutes from Disney and make a lot of sense to the savvy investor. Email us for more information: info@everestplace.com