Holiday let Florida

[kiwimoa]

Hi,
we are looking at perhaps buying a holiday let in Florida. We were guessing Orlando is a good spot to start....
Any advice on where we should be looking and what to avoid. Any traps, I should look out for? Does anyone have contact details of reputable property management companies? etc etc....
Thanks in Advance K.M.

 

[Vie 10]

Hi Kiwimoa

I invested in Florida 18 years ago - fantastic investment - enjoyed very many holidays there! I invested in St Pete's Beach - at a place called Isla del Sol - right on the Bay front but protected from main ravages of the sea. It's a really high class area, part residential, part retirement, part investment. Heated outdoor pool, jacuzzi, gym, 24 hour security (so the natives don't run off with your furniture) are all a MUST if you want an investment - but are expensive to maintain!

Property prices have fallen by a 1/3 in last 3 years from their peak in 2007 so don't overpay. We chose a beachfront property as there is limited supply! Florida inland has loads of open spaces - even now we are making big money on our investment - not so if we had bought in Orlando or elsewhere inland.

Hope this helps - why not go over and visit all the areas where you are thinking about, get the rental rates and yields, and then decide - don't buy the first thing you see - there will be another bargain site tomorrow and tomorrow so don't fall for the marketing/sales hype

Hope you find this useful

P

 

[kiwimoa]

thanks for the replies! keep em coming!