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Old 03-14-2011, 03:40 AM
 
1 posts, read 1,741 times
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We were looking at purchasing a second home in the general vincity of Orlando. Something not too far from Disney World / tourist area. Middle-class (i.e. not pricey/expensive but not ghetto/dangerous).

Hunters Creek, Windermere all looked nice but little more pricey. So we are currently looking at Buenaventure Lakes (Kissimmee) at homes on the east side of Buenventura Blvd.

Using neighborhoodscout.com to see crime statistics it didn't seem to be a dangerous area. Wasn't listed as the "most safe" but still seemed much safer than the 'average' orlando/kissimmee neighborhood from crime statistics (violent crime/property damage).

Some people on this forum mentioned in that area that the houses generally on the east side of Buenventura Blvd might be more newly developed and/or better maintained. So far looking at properties it looked that way so that's the general area we're comparing properties in right now.

Although it will be a second/vacation home, for the first 4 or 5 years we're hoping to rent it out (long term rental) and would be happy if the rent just paid the mortgage (i.e. break even) for those years. After 4 or 5 years we'd want to spend 2 months there every year. So maybe wouldn't be opposed to letting it go other months for short-term rentals through a management company, realizing that the short term rentals probably wouldn't allow us to break even on mortgage anymore, but we wouldn't care as much anymore since we'd be using it more. Btw is that area even "zoned" for short term rentals? Some areas you can't to that right? If an area is zoned for short term rentals does that mean you couldn't do long term rentals or it would be more difficult to rent out the property for a long term rental?

Finally, what's the rental market place like in Orlando / Kissimmee (and Buenaventura Lakes area in specific) ? Is it "ok" ? Can you find reputable management company who would advertise/find/screen/credit-check prospective tenants for you?

Someone mentioned Buenaventura Lakes has a general hispanic flavor to it which we'd be fine with. We're not hispanic, but as long as the neighborhood is relatively safe in comparison to orlando middle-class averages we definitely wouldn't mind living in a partially hispanic area (as long as that also wouldn't make it harder to find renters). We're Canadian btw (not that I think it would make much of a difference...we already have local way to do financing through our local canadian bank so not concerned about needing to deal with american mortgage rules for 'foreigners'.)

p.s. we currently own an orlando timreshare (bought it long time ago on ebay as a resale) and visit orlando once every year for 2 weeks for the past 5 years (we have young kids). But we never used to travel that much out of the disney-world 'area' previously so this is the first year we're spending time driving around Orlando/kissimmee more to do research.
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Old 03-14-2011, 09:54 AM
 
Location: Lake Mary, Florida
793 posts, read 2,150,915 times
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Rental market is good, that area has 144 homes currently available, not zoned short term, what is your price range?

Sending you a P.M.
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Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

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