Why did I decide to write about Orlando in general terms? Because I realize that, even though we have countless sources of information—whether online, in magazines, or on blogs—it’s difficult to understand how the real estate and brokerage industry works in Orlando when looking for the best property for each person. I’d like to point out that Windermere (pronounced “Windermír”), Winter Garden, and Kissimmee (pronounced “Kissííími”) are not neighborhoods but rather nearby cities. Perhaps an easy way to think of them is like São Paulo and Greater São Paulo, or Orlando and “Greater Orlando.”
One of the first things I want to clarify today is a question I’m frequently asked by people who come to me looking for an investment property. In the United States, unlike in Brazil, there is a unified database system—the MLS—and we real estate agents have access to everything on the market, whether it’s new or used, large or small, regardless of price, size, property type, or the agent who listed the property for sale. This is excellent because it gives us a wealth of information and options, but we also need to know how to filter the results to get as close as possible to the “right” or most suitable property.
With that in mind, let’s consider an initial factor that can help guide us: is this investment intended for personal use or not? If so, let’s look at properties we can use for part of the year and, for the rest of the time—instead of leaving them vacant—rent out on a seasonal or daily basis. This scenario already narrows our focus to areas like Kissimmee, Davenport, Clermont, and the surrounding areas (except for some apartments in Orlando). These are areas where zoning regulations allow properties to be rented out for short-term stays. It’s no coincidence that the vacation condos we see are always in this region. There, we can find apartments, townhouses, and single-family homes in gated communities—not always, but most have gates in these areas—as well as apartments, which are gradually becoming more popular in the city. These developments usually feature a larger recreational area, and the homes come fully equipped with all appliances, including washers and dryers. If there is a pool, it’s usually included in the property’s price. Many developments offer hotel-style services, with a reception area for guest services. These properties may or may not generate a profit. They may or may not be the best option for the buyer, but if this is the direction you wish to take, it’s important to consider that this is a property the owner intends to use throughout the year. Depending on how often and when it’s used—as well as other factors that would need to be analyzed and discussed—this may or may not be an investment with a good financial return.
Since this investment is a property the owner won’t be using, we can then consider residential areas. Why? Because in this case, the owner can rent the house to someone to live in and therefore doesn’t need to furnish it; they’ll also have lower monthly costs for maintenance, electricity, water, etc., since in this case those expenses will be covered by the tenant—which isn’t the case with the option we explored above. There are apartment options in both Metrowest and Hunters Creek, as well as single-family homes in those same neighborhoods, or in Windermere and Winter Garden, among others.
The choice of location depends directly on how the property will be used, so it is important for the real estate agent to understand the buyer’s profile and expectations regarding the investment.