[Tiger108]

My wife, Brazilian, has several friends who have urged us to buy a condo home or apartment in either Orlando or Fort Myers as investment, feeling we could easily rent a property out, either on long term or short term basis (e.g., to Brazilians and others visiting the area). Our objective would be to sell it in 6-8 years, when she retires (I'm already retired), and buy someplace else in the U.S. where we'd like to live. Right now we're primarily in Brazil. If we were ready to move full-time we'd buy a regular house and just move (though probably not to Florida). I've had rental properties in the past and know the drawbacks of managing them from afar, even with a local property manager.

What do you think are the prospects of either of these areas over the next several years? We'd probably buy something around $300k or a bit more.

[kyle19125]

I would opt for Fort Myers over Orlando though would urge you to consider other coastal locations as well in order to capture snowbirds (winter visitors) who stay for several months versus a week at a time.

[Crane's Rooster]

I would not advise Ft.Myers unless you can find something on the water.

[Tiger108]

Any particular areas, or even specific developments, in either place? I've seen several condo home communities that look nice online, but don't really know the areas. Have been to Orlando only briefly, and Ft. Myers not at all. Have relatives in New Smyrna Beach.

[Crane's Rooster]

I grew up in Ft. Myers and currently live in Orlando. My honest opinion to you is to invest in something in the Tourist corridor area of Orlando (Southwest Orange County, Osceola County and the Four Corners areas of Lake and Polk Counties). Because of the theme parks and vast number of visitors it's generally easier to rent out areas here and sometime find really good deals. A very large number of Brazilians visit here but they usually come in big groups and do package deals in hotels.

Ft. Myers is a great area but was hit really hard by the recession. DO NOT buy anything away from the water no matter how good of a deal it may seem to be. There are many development in Lee County that look great on paper but are in remote areas where most renters will not go. Generally speaking try to stay as close as you can to the coast in areas such as Sanibel/Captiva, Ft. Myers Beach, Estero Island, Bonita Springs, Pine Island, and Naples. Be careful of areas listed with a Lehigh Acres, Cape Coral or Ft. Myers address, many are usually inland communities, some golf communities but it can be hard to find renters here.

[Tiger108]

Thanks for the input. We're thinking of condo homes (not condo apartments) to lessen maintenance, etc. the renter is responsible for. Even though we'd use a property manager, I know from experience that most basically collect the rent and don't (in some cases can't) keep tabs on how well the property, even exterior and yard, are being maintained.