WHY KISSIMMEE RANKS AMONG THE BEST PLACES TO ACQUIRE REAL ESTATE IN THE US
Today acquiring a rental vacation home is a normal phenomenon as vacation rentals outside the typical hotel have become more prevalent, thanks to resources like Airbnb and VRBO. However, though purchasing vacation homes has become more popular, that doesn’t mean each purchase ends up turning the profits owners expected, and one of the biggest reasons for that is location.
Location is and always will be the essential aspect of a home purchase, whether that property is where you plan to live or a place you intend to rent out. Thankfully for vacation home seekers, a new list of the best places to acquire vacation rental properties in the USA’ by REMAX was recently released. As expected: Kissimmee, FL, behind Gatlinburg, TN, are among the top two destinations.
To understand why Kissimmee is now a hotspot to buy a short term rental investment property, let’s dive into what helped Kissimmee to earn the title “2nd best place to buy a vacation rental.”
Though several factors make Kissimmee one of the top spots to purchase a vacation rental property, perhaps the most important to real estate investors like you, is its CAP rate. For anyone unfamiliar, CAP rates are calculated with a simple formula that identifies the profitability metric of a location. The market’s CAP rate is achieved by dividing the net operating income (NOI) by the current market value (CMV), which is how Kissimmee earned its strong 6.9%.
- Local attractions
Of course, a significant aspect of profitability relates to why vacation-goers would want to visit Kissimmee are local attractions. Attractions like Disney World, SeaWorld, Universal Orlando, and Legoland are nearby, which are typical tourist attractions. Outside of the more well-known activities, Kissimmee is near the Orlando Tree Trek Adventure Park, Dinosaur World, Bob’s Balloon Rides, Swamp Tours, Paddling Center at Shingle Creek, and much more. Kissimmee is a fantastic place for families, couples, and overseas travelers to visit year round.
How To Choose The Right Home In Kissimmee?
- Place versus location
Any investor must think about the area. One should look at the demographics of a place, the percentage of violent versus non-violent criminal activities dedicated in an area, and the future preparation for the development of any surrounding locations. Usually, the rating of the local high school will also supply insight into the stability of the surrounding communities.
- Speak with a reputable agent
Before making a financial investment in Kissimmee, one must speak with a certified and experienced real estate agent acquainted with area rentals. The representative should supply details regarding long-term versus short-term available leasings. In addition, the representative must provide the potential purchaser with the necessary information if deed restrictions exist. Mila Realty is higly reputed local real estate brokerage, which also spcialized on property management.
Should you desire to invest in Kissimmee short term renal, consider to hire a property manager. Hiring an expert will go a long way in safeguarding you and your or business.