Yeah Storey lake is a great location with all those new shops nearby. I was able to sell 2 in championsgate recently despite more listings hitting the market. $840k range- many investors are still bullish about picking them up and self-managing for $120k-140k gross rental income per year (on the bigger houses, with some rehab investment up front). Gives me confidence for the future
@@OrlandoPropertyAdvisor Congrats on selling 2 in Championsgate recently. Very cool. We're planning to self-manage. It's exciting and scary all at the same time. Thank you for replying back. I wish you continued success. Hopefully, we can work together someday.
If you don't mind me asking. 1) How much do property management teams in the area usually charge? 2) How often are these homes rented? 3) Any idea how much a year some of these home can make in revenue?
For short term rentals, it’s typically about 20%~30% of the gross rental income, as they are doing a lot. Cleanings, marketing, guest check in, repairs in between guests. A good occupancy rate would be 75%- 85% per year booked. I currently have a listing coming up similar to the 1st one in the video that brings in over $100k gross rental income. After taxes, HOA, utilities, and management fees, it’s still a highly profitable rental home, much more so than a long term rental. Not all short term rental homes perform this well, you have to find the right floor plan and location, and put in the work to make it stand out. Let me know if you’d like to discuss further
For any new builds, are there programs where they have fixed down payments to buy into the build process? I’m comparing doing that versus doing a 10% down vacation home loan.
Most are $400-700 per month and include landscaping, guard gate, community pool CDD can be $2000 per year on top of regular taxes, it’s based on lot width
what sort of cashflow can I expect im hoping for something with $500-$1000/m and I cant manage it myself since I live in Canada. Im also used to 20% down 3-4% interest would I be looking at something similar?
For STR i'm seeing $850k purchase of larger home can get $120k Gross rental income per year, and still profit $2k-$3k per month, even with mortgage interest rate of investment loan at 4.5%. Foreign national loans may be higher rate. Management fees vary on company but we have found some that are about 20% off the top of gross. You can also shop long term rental and it will pay for itself but maybe not cash flow from the start
How can I get in contact with you about getting a rental in the Orlando area. I'm in Wisconsin now and ready to invest down there. Do you do personal consulting?
Yes, I work with many out of state investors and typically start with a 1-hour zoom from my studio here in Orlando. We are "Advisors" of all things real estate ;). Email me Justin@TheOrlandoPA.com and we will find a time to connect
@@theinvestmentguy9041 Encore (by beazer) has some large "boxy" homes just like championsgate and an amazing waterslide/restaurant/pool/concierge amenity in the center- however your guests cannot use the other reunion amenities unless you belong to those and pay. Also they make you use an approved rental management company which may end up charging more % off the top of the gross rental income than if you had the option to choose your preferred rental management company. But it's an excellent location and will do well long term because of that.
Great information. We just went under contract in Story Lake.
Yeah Storey lake is a great location with all those new shops nearby. I was able to sell 2 in championsgate recently despite more listings hitting the market. $840k range- many investors are still bullish about picking them up and self-managing for $120k-140k gross rental income per year (on the bigger houses, with some rehab investment up front). Gives me confidence for the future
@@OrlandoPropertyAdvisor Congrats on selling 2 in Championsgate recently. Very cool. We're planning to self-manage. It's exciting and scary all at the same time. Thank you for replying back. I wish you continued success. Hopefully, we can work together someday.
Great info these are fantastic 👏 keep them coming 🤓
Thank you, we have been so busy with all the relocations and investors coming to Orlando but making time to create videos too now. Thanks for watching
If you don't mind me asking.
1) How much do property management teams in the area usually charge?
2) How often are these homes rented?
3) Any idea how much a year some of these home can make in revenue?
For short term rentals, it’s typically about 20%~30% of the gross rental income, as they are doing a lot. Cleanings, marketing, guest check in, repairs in between guests. A good occupancy rate would be 75%- 85% per year booked. I currently have a listing coming up similar to the 1st one in the video that brings in over $100k gross rental income. After taxes, HOA, utilities, and management fees, it’s still a highly profitable rental home, much more so than a long term rental. Not all short term rental homes perform this well, you have to find the right floor plan and location, and put in the work to make it stand out. Let me know if you’d like to discuss further
For any new builds, are there programs where they have fixed down payments to buy into the build process? I’m comparing doing that versus doing a 10% down vacation home loan.
The down payment is going to be in the 5%-10% range and is fixed, you lock in the interest rate at the end of the build
Great video and thank you for the information. Do these homes in encore require us to go with their property management company?
Yes they have 3 internal property management companies they require you to go with
Can you tell us how much the HOA fee's are and if there are any CCD annual fee's.?
Most are $400-700 per month and include landscaping, guard gate, community pool
CDD can be $2000 per year on top of regular taxes, it’s based on lot width
what sort of cashflow can I expect im hoping for something with $500-$1000/m and I cant manage it myself since I live in Canada. Im also used to 20% down 3-4% interest would I be looking at something similar?
For STR i'm seeing $850k purchase of larger home can get $120k Gross rental income per year, and still profit $2k-$3k per month, even with mortgage interest rate of investment loan at 4.5%. Foreign national loans may be higher rate. Management fees vary on company but we have found some that are about 20% off the top of gross. You can also shop long term rental and it will pay for itself but maybe not cash flow from the start
Does Champions Gate come furnished with furniture?
Yes all the listings you see come furnished. Some need updating. There are new builds as well that have furnishing packages
How can I get in contact with you about getting a rental in the Orlando area. I'm in Wisconsin now and ready to invest down there. Do you do personal consulting?
Yes, I work with many out of state investors and typically start with a 1-hour zoom from my studio here in Orlando. We are "Advisors" of all things real estate ;). Email me Justin@TheOrlandoPA.com and we will find a time to connect
Is this Storey lake?
Championsgate Lennar, same builder as storey lake but better location and lower fees, golf courses, just southwest of reunion
@@OrlandoPropertyAdvisor how’s the Encore community in reunion for STR?
@@theinvestmentguy9041 Encore (by beazer) has some large "boxy" homes just like championsgate and an amazing waterslide/restaurant/pool/concierge amenity in the center- however your guests cannot use the other reunion amenities unless you belong to those and pay. Also they make you use an approved rental management company which may end up charging more % off the top of the gross rental income than if you had the option to choose your preferred rental management company. But it's an excellent location and will do well long term because of that.