Tips On Buying A Second Home In Orlando
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- Опубликовано: 31 май 2024
- Have you ever thought about buying a second home in Orlando? How about tunring that vacation home into an airbnb? Maybe you've been on that magical express bus back to the airport and thought, "what if we bought a home here?". Well that's the reality for thousands of locals that own a second home in Orlando. Many of which rent the home while they're not here. Whether that's via airbnb or otherwise.
Today my agent partner Brianna Sawyer and I break down things you should think of when investing in an second home, the pitfalls, an the upside of owning here in Orlando.
Thinking about buying a vacation rental? We'd love to help! Email info@pozekgroup.com to get started.
Ken Pozek
The Pozek Group
Keller Williams Realty Classic
PozekGroup.com
6900 Turkey Lake Road
Suite 1-3
Orlando FL 32819
I have 5 years of previous short term management experience and this video is spot on.
Thanks a ton, Nick! Means a lot 💪🏼
Why wouldn’t someone buy a place strictly for Airbnb? Why must it be vacation and investment?
Great and clear contents! Thanks a lot !
WOW 😮 l am glad l came across this video. We will be retiring in a few years from a Northern state that isn’t retirement friendly. We are looking to buy a condo in Orlando to use for the winter months and possibly rent out for the summer months and holiday period just to offset the cost. I didn’t know some communities didn’t allow you to have the flexibility to stay as long as you liked in a property that you owned and rent it out at your convenience. Definitely something we will make sure we understand when looking at properties. Thanks for sharing.
Great Video Ken .... some great options!
Great video, thanks for the info!
Great Video! The both of you did an awesome job explaining everything and it was easy to follow
Thank you for that ❤️🙏🏼
This is great information! Glad I found your channel! Subscribed!
Thanks for the sub!
Hi Ken! Just found your channel and subscribed. This was a really great video :) Appreciated all the questions you asked! Could you make a video related to taxes when selling the investment property as well. Thank you!
Following!
Thanks 👍🏻🙏
Great video 👍
Great video, thanks!
Thanks for watching!
Just watched ur video and subscribed, informative!
Means a ton. thank you!
Great video Mr P very in depth and detailed. It would've been even better if you have have a breakdown of figures for say a 5 bed 5 bath home in reunion or the house you was in. Maybe you could put up a link to your website where people could check the small print out at their leisure. Keep these type of videos coming especially the over 10mins one! 🤣🙏🇬🇧
I’m keeping that time up!
Ken, GREAT VIDEO!!! I learned a lot!! Good to know info….I was wondering about Airbnb vs just a reg rental & if communities allow it or not.
So glad you learned a ton!
Depends on the city. For example Titusville, FL does not allow AirBnb
Depends on the city. For example Titusville, FL does not allow AirBnb
Thank you for sharing! ♥️
✨New Subscriber 💕
Super informative! We are seriously considering STRs for investments. This is so helpful.
Glad it helped! Let us know if you have other questions 💪🏼
I’m hearing places like REUNION (with Encore Resorts), they do not permit the owners to convert the garages into game rooms and the bedrooms are not to be decorated into Disney themed rooms.
good work buddy!!
Thank you 🙏🏽
any recommendations on the neighborhoods that has less restrictions for Airbnb? I think that we want too, stay at the property for 1 month, Airbnb the rest of the time
Awesome, informative video. Who takes care of the cleaning after guests leave?
Nvm I got to that part of the video lol
Do you have a video for Long term rentals for beginners in Orlando area ? Thanks! Just now Doing my research for investment , this video was very helpful
Can I expect an Orlando short term rental to cover all expenses on a monthly basis? Mortgage taxes utilities HOA fees management fees etc.? In a break even approach? Or should I expect revenue to be lower and cover the rest out of pocket? Apart from the 2-3 months a year I would be there. Probably a loaded question I'm sure.
Lots of unknown variables. How much is your mortgage? If you stay 3 months of the year which months do you stay? If you stay 3 months of the year...if you rent every day out...max occupancy is 75% if you rent everyday.... How is your home furnished and what in home features does it have? Makes a big difference. Mortgage, HOA, Water, Gas?, Electric, pool care, management fee, 20% commission, for almost everyone it will not be break even. If it did everyone would have one. 😊
@@clipperloyalty Agreed. In my investigating I see a lot of information on these vacation homes but nobody really gives the high level monetary expectation. This is only the second time I have seen anyone say it this way. Basically, do not count on making a profit every month. Do not count on breaking even every month. Instead count on the investment growing in value over time while the rental income offsets SOME of the monthly costs. Most buyers who don't have cash for a vacation home will be paying out of pocket every month one way or another.
@@bradleejaymz Yup, you got it. 👍
Do you have more specific info on how I can purchase a home that allows air Bnb type renting. This is exactly the type of place I am looking for. And in the Orlando, Kissimmee areas…?
Best thing would just be to reach out. Info@pozekgroup.com
Not every neighborhood allows Airbnb, and some are going to get you a better return than others. That’s what we do.
I’m confused…..if my husband and I want to purchase a second home, for our own personal use (no renting out), we aren’t allowed to fly down and stay whenever we want? We would have to buy in a short term area? We had talked about buying a townhouse for our own personal use and staying frequently until we make a permanent move to the area.
For some subdivisions this is true…not all. Some of the communities/subdivisions have maximum occupancy rate for the owner because they want the vacationer/transient traffic coming into their resorts because they are more likely to purchase and consume the amenities…which is critical to maintaining operations as you might imagine. If you’re looking for a resort style living but want to occupy as many days as you want…I think Encore at reunion and many other areas have options.
The fact that she says that you shouldn’t do short term rental for investment purposes and it’s better to stick to a long-term rental just tells me that their management fee is absurd because you get a lot more gross income with STR than LTRS
STRs with high down payment for people who want to park their $ and get a steady return is a solid reason for investment .
I’m interested:)
What is the price range
I live in New York ,looking to buy a rental condo .very interested
The home your in is great, where is it based and availability. Do you have a link to it.
It’s in Solara in Davenport
What is the typical ROI for these types of STR in Orlando? For different types of condos/houses?
Depends on the neighborhood, bedrooms and finishes. This house rents from 2-3k/night
@@kenpozek that barely covers the mortgage.
Doubt there’s a mortgage on these big ones
@@kenpozek yeah highly doubt that anyone is not going to take advantage of low interest rates and dump all that opportunity cost down the toilet. That’s just a joke. At that point put down 25
Dump that resent in an investment account and you don’t even have to use Airbnb to offset the cost of the mortgage.
Are you able to live In champions gate long term & decide after 2 years you want to turn it into an Airbnb ?
Yep. You can live there year round. Just remember the short term section (there’s a long term section too) might not be zoned for schools or get regular usps mail
Hi Ken, where is the Townhome that you made the video located?
Solara resort
How about Sandford?
Great video, Ken! When we were planning out move to Orlando, I was really surprised how restrictive most of Orange County was for STR. After living in Windermere for almost a year, I totally get it and am happy our neighborhood is long-term only. Just wish I could go back in time to pick up a cheaper sub-$250k investment house in Reunion!!
Ah man you and me both!
I agree. Most people think you can do an Airbnb anywhere in Orlando. It’s actually quite restrictive!
So true!
How do we get in touch with her as someone to help us find a shirt-term rental? This all describes our situation very well and we are investing in real estate while living the Orlando area.
Info@pozekgroup.com and ask for Brianna :)
Florida Vacation rental was not good for me.
Make sure you have a great property management company or renting your home can be a nightmare. We had a horrible property management company.
You nailed it. Lots of bad management companies.
A good one you can recommend perhaps? :)
@@Cris-zm7iw Talk to the realtors who deal with STR properties. They've been around and will know the good from the bad.
Interested in a vacation rental I live in SC travel to Orlando 6 to 8 times a year.
Stop inflating home prices and pushing first time home buyers out of the market. Thanks
who do i cantact
Info@pozekgroup.com
How can I contact you?
Info@pozekgroup.com
At that level is only for rich people to make that kind of business.
I'd love to work with you or Brianna - just sent an email
Reunion is terrible! The neighborhood was trash. McMansion the look good from afar. People partied all night long. The police were called and security did nothing. Never again!
I love parties on vacation Karen.
Orlando is overcrowded and expensive ... dont purchase anything there.
Its just snowbird with extra steps. Please stop driving up Orlando rent jfc.
@3:39 Is that your grandma? You both have the same mouth.
Hi Ken - One of your more informative videos. I know you like to keep them short. But taking a bit more time really drilled down to some valuable nuggets. BTW, I highly recommend Le Colombe Brazillian Cold Brew - you can get it at Whole Foods. Pricey but so worth it! It's the Chickory Root! 🧉🧉🥤🥤. Enjoy Today!