Growing your property investment bank account is your goal this summer, and you're eyeing Orlando as your next investment spot. Now couldn't be a better time to start pursuing properties in O-Town.
Research shows that the average rent for a two-bedroom house in Orange County, where Orlando is located, was $1,857 in 2024. That's over 36% higher than the average for Florida overall. The city's rent is high since it is a key tourist site with a growing population.
How can you ensure you buy the right investment property in Orlando? Let's explore essential tips and expert advice for purchasing Orlando real estate.
Investment Property Location
Choosing the right location for Orlando investment opportunities is critical for long-term revenue generation. A few locations to consider include Downtown Orlando, Lake Eola Heights, and Park Lake-Highland.
Downtown features numerous units for tenants, making it a strong renter's market. Downtown Orlando features both economical units and high-rise homes for investors.
Lake Eola Heights is another popular area for renters and landlords in Orlando since it offers various rental choices, including houses and apartments. The neighborhood is located beside Lake Eola Park and is known for its charm, making it an appealing spot for renters.
Park Lake-Highland is another area where you may want to explore rental properties. This healthy renter's market offers a community feel. It's also close to the downtown area, which many renters desire.
Investment Property Management
An essential step in buying rental real estate in Orlando is hiring a property management company. A reliable company can help you manage your property investments by offering services such as tenant screenings, inspections, maintenance, and leasing.
Look for a manager that also offers professional marketing support. This may help you maximize your rent value in Orlando's real estate market and decrease vacancies.
The best property management companies will provide detailed financial analysis and statistics to help you make informed decisions about your properties. You may discover that you're losing profit on one Orlando property, in which case you might want to sell the home and replace it with a unit with more profit potential.
Quality property managers have specialized crews to handle your maintenance requests, too. They'll help ensure proper property care.
Another vital service that leading property management companies offer is property purchase advice. They can give insights into various neighborhoods as you explore your future real estate property options.
How We Can Help Real Estate Investors
Purchasing an investment property that will produce revenue for you in Orlando requires a focus on location and property management. The top places for renters include Downtown Orlando, Lake Eola Heights, and Park Lake-Highland. A leading property management company like Verandah Properties can help you choose and oversee the right property.
We can also perform a rental analysis to help you evaluate your existing property's viability and profitability. We'll highlight your property's current market performance and suggest the rent you should charge to maximize your returns. Take your investment business to the next level with a free analysis today!