1-Hire a local real estate agent. Working with an agent that is familiar with the Orlando Market, will give you answers to all your questions about the market conditions and will explain and discuss every step of the transaction process of buying a property here. The agent will hear and understand your goals and help you find options for the ideal investment property. Additionally, the agent will explain what you need to know to invest in our city. Remember is not the same to buy a home as a primary residence, or in the same place where you live, as buying one as an investment property, especially in a place far from your home.
Tips for Long-Distance Orlando Homebuying as an investment
1913204 • April 1, 2024
If you are thinking of making a solid investment in real estate, I’m sure you are considering Orlando, Florida. With a well-known recognition as one of the cities of the United States that has a wonderful lifestyle, a diverse economy, low property taxes, and some of the most popular attractions, such as Walt Disney World and Universal Orlando Resort, among others. Our city has a strong rental market and presents great investment opportunities.
If you a planning to buy one or more properties as investments, it requires knowledge and research to ensure that you are getting the best properties for your money, and the one that fits your needs and preferences.
Here are some tips that can help you in the process:
2-Ask your agent about the different neighborhoods, which one looks better for your goals, and best fits your needs. Request information about rental prices in the area and projections for future growth, as it is important to make an informed decision.
3-If you’re going to rent the property, make sure you receive information about your obligations as a landlord, and we suggest that you hire a property management company. Managing a rental property is not only time-consuming for owners, but also a process that can be difficult to understand. As many of our customers are investors, in Viva Orlando Realty, we have a division of property management, to help you with the complete process of buying and renting your property. We handle aspects such as marketing, tenant screening, maintenance, and other day-to-day tasks, and have an impressive (but easy to understand) technology process that allow you to track and receive all the information about your property.
4-Evaluate what type of property you would like to buy. Consider if it will be a vacation rental or another type of property that allows short-term rental. Or evaluate if you prefer to buy one for long-term rental. Decide if you prefer single family home, a townhome, or a condo as each type of property comes with specific considerations and rules that apply to owners and tenants.
5-Be sure to understand all your obligations as an investor in Orlando. Each city or State may have different rules and is important to comply with them to be successful as an investor. Consulting with a real estate attorney and an accountant is highly recommended to understand your obligations and rules, the information about taxes and other fees that you will need to pay.
6-Is important to have your financial information in order before making the purchase. It means, evaluating how much you can invest, asking your agent about the return of investment projections, and considering all associated costs of homeownership. Stay organized and keep good records and tracking of your finances, after your purchase.
We’re proud to have helped hundreds of Orlando property investors, and we want to help you too to make a solid investment. Call us today or send us an email. 407.922.4620 ~ Milena@vivaorlando.com
Share this post
Viva Orlando Rentals Blog
The Orlando Real Estate Market provides fantastic opportunities for investors
Orlando and Miami are two world-renowned cities throughout the world. And we’re fortunate to have both wonderful places in our state of Florida. For decades, we have seen investors that come to the State attracted by those cities. Now, many are still considering investing in a property in Florida, but they’re evaluating which is a better place for the investment.
