Do you dream of having a vacation home or establishing a passive stream of income?
This dream starts with buying your first vacation rental property. Orlando is the perfect place to start.
Orlando sees over 74 million visitors per year, making it one of the most sought-after vacation destinations in the United States.
Start by purchasing vacation home rentals that appeal to both your family and visitors. This could be a place where you visit during one season while out-of-town visitors stay during another season.
Your first rental purchase could be the start of a thriving real estate investment career.
Learn more about your options.
1. City Condos
Condos are a great place to start. Condominium rentals in Orlando appeal to a range of visitors, from college students to conference guests.
Condos come with everything one would need to enjoy themselves on vacation:
- Living room
- Home office
- Fully-equipped kitchen
- Balcony with views
- Bathroom
- Master bedroom
- Walk in closets
- Washer and dryer
Many condo complexes in Orlando come with pools, allowing for poolside drinks and relaxation.
You can also furnish condo rentals to attract tenants and fill vacancies quickly.
2. Orlando Townhomes
Many visitors to Orlando are looking for options that feel more like home. However, that doesn't mean they need a lot of space. Townhomes are large enough to facilitate a residential home vibe but small enough to feel like a vacation home.
You can also purchase a row of townhome rentals in Orlando as part of your real estate portfolio. These vacation home rentals are found in residential areas, beaches, and landmarks.
3. Rent a Villa In Orlando
If you want more space, consider purchasing a villa in Orlando.
Villas are more expensive, spacious, and luxurious. However, they're a major draw for renters with higher purchasing power. Villas can also accommodate large families with extended family members.
Villas also allow you to think beyond vacation rentals. You could rent out an Orlando villa for weddings, wellness retreats, and corporate parties.
4. Buy Residential Homes in Orlando
Orlando is such a popular tourist destination. Visitors will stay anywhere, from dense downtown areas to quiet neighborhoods. This is a great time to start looking at neighborhoods positioned near tourist spots.
Residential vacation homes close to eateries, grocery stores, and boutique shops are a big draw.
Visitors may stay in your rental all summer long. It's important to have necessities nearby, including laundromats if there isn't a washer and dryer on site.
5. Apartment Rentals In Orlando
Last but not least, you can also purchase apartment rentals in Orlando. Apartments appeal to college students, professionals, summer visitors, and small families. Studio apartments are another option for solo visitors.
Two-bedroom apartments are quite popular. There are also three-bedroom apartment rentals for larger occupancy.
As you grow your portfolio, you may even generate the financing needed to purchase an entire apartment building. This type of property falls under commercial real estate, and you would need to work with a property management company to oversee the building.
Start Browsing Vacation Home Rentals Today!
Now is a great time to start browsing real estate listings for the right vacation home rentals in the right spot. Think more about the above categories to start planning your portfolio.
PMI Orlando Myplace wants to help. Contact us to talk to one of our property management experts so that you can build the portfolio of your dreams quickly.
