My family loves Disney and the Kissimmee area. We are dreaming about buying a home in one of two neighborhoods (Emerald Island or Windsor Palms) and would like to rent it out most of the year to vacationers to help with the payments. We reside in PA and would need to hire a company to maintain and clean the home, but we have no idea of the costs associated with this and the costs of real estate taxes, HOA fees, insurance, etc. We are both teachers, so we don't have tons of extra money. What percent of the income from renting can we expect to cover the costs? Anyone have insight to offer? TIA!
I would contact a realtor in the area. One that you might use to buy a house. They can give you a general idea. Of course, a lot depends upon the house and area.This message has been edited. Last edited by: HGTVAdmin,
Thank you, metwo!
I would look at available houses, figure what your mortgage (if any) will be. Look at rental sites to see what houses similar to one you want rents for. Then you can contact a rental company to find our their cost and average weeks rented.
This will give you a simple over view.
I would consider upscale Condominium Community, and you don't have to limit yourself to the Orlando area, as Daytona to the East and Tampa Bay to the West are like 1 and a half hours away and tourist towns as well.. Both those towns are coastal, so you can get comparable rent to Disney Epcot area.
However, important that your Realtor does a lot of research on minimal time limits rentals allowed by Condo assoc. or HOA. Feel free to PM me and I'll try to point you in the right direction.
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