Advise about buying home in Thornton Park area (Orlando: sales, real estate)

[JoyRising]

Hello,

I currently live in California and am looking to purchase a single or multifamily home for income/rental purposes as a way to financially plan for "retirement". I have researched the Orlando area and Thornton Park seems to be the type of location that appeals to my sensibilities. I have no idea, however, if it is a good place to invest in real estate. I would want/need the rent to cover mortgage/taxes/insurance, etc. Does anyone have some advice they could offer me? I'm here for a few days and will be meeting with a real estate agent. I would just appreciate any input or expertise that you experienced "locals" may have to offer. I am open to other suggestions. I just "fell upon" Thornton Park and don't know much else. With much appreciation in advance...

[FloridaNative35]

I live in Thornton Park and rental prices here are very high. I'd guess you could do well in this neighborhood, provided you got a good deal when buying the home. I suggest talking to a professional realtor.

[idr591]

Rental prices are high, but sales prices are high as well. These are older homes that will generally require a fair amount of repair.

Everyone has different priorities, but all of the downtown area properties command high rent, and there are cheaper areas than Thornton Park that will offer you a higher return.

[Crane's Rooster]

I think it's a good investment as demand is high for rentals in that area. You may also want to consider Colonialtowne and Park Lake Highland as the homes are slightly cheaper but still command fairly high rents.

[qdogfball]

Not much of a chance to find a rental that will currently pay for everything without you being there to oversee the property.

You would have to score one over all the people who are local doing the same thing and all the RE agents that buy and rent.

Not saying its possible, but not too probable.

Now if you can afford to work wtih 3/4 of the costs, you can do that, with hopes that house prices will increase as will the rent.

[JoyRising]

Thank you for the responses. I drove around all the neighborhoods today and there are some very nice ones. Another question I have is regarding property appreciation in this area. From some of the real estate websites I researched there seems to be very little projected appreciation of property values within the next year. I am from Boston and now I live in California so I'm trying to understand the property values here through that lens in an attempt to make sense of this area as a potential solid investment opportunity. Any and all input/feedback is welcome. Thanks in advance!!