We bought a house in a community near Disney and LOVE it!
We looked and "thought it over" for about a year and a half before finding the right house. We also worked through Dolby Properties, and we have no complaints at all about them.
Our house is a little further out (20 minutes from Disney), because we wanted to be in a peaceful setting when our days at Disney are over and we wanted to find the right house for US, not necessarily just for potential renters. That was more important to us than filling it up with rentals; in fact, we weren't sure we were even going to rent it at all. We closed in May of last year, and go there about every three months (oh, and the kids and I spent the whole summer there, for the most part, and we will do the same this summer).
The pros: there are still some really good deals, even as the housing market is recovering; having everything you need down there (much less to pack); this is a big one.....feeling like you are going "home" both ways
; watching the value go up already and feeling like you get to enjoy your long-term investment; the fun of decorating with some Disney themed rooms (when you may not be comfortable doing that at your primary home); getting to know the community beyond "that neighborhood we stayed at that one time...."; feeling a lot more comfortable running down there for a weekend (so much less to plan); having time to do more than Disney (in fact, feeling like you can go there and NOT do Disney, because you are sure to be there again before too long); for us, being near four cruise ports and lots of beaches
The cons: it WILL most definitely cost more than you think, especially to start; it is a second home, with all the challenges that a first home brings (yes, things will break) and you don't feel like you can put off the repairs or do it yourself on your own schedule if you are renting it out; tax mess if you are renting it and using it pretty extensively yourself; being a long-distance owner and not having any idea what is going on down there at any given time (you have to give up a lot of control); finding a trustworthy management company and giving that control to them; allowing strangers to sleep in YOUR house; you have to pay for services you might not even pay for at your own home, because your renters will expect it; HOA costs are crazy down there, and many of the HOAs are not well-managed; it's a bit of a leap of faith in many, many ways.
Here are a few things we feel like we did right, so I guess these would count as bits of advice...1. don't be in too big of a hurry. The realtors will try to rush you a bit, but don't buy until you know you have the property you really want. Visit it more than one time, especially after seeing some others you think won't work for you. On that same note, if you find one you LOVE, you do have to be prepared to act quickly. The better properties go pretty quickly.
2. Get a good realtor who will help you after the sale as well. I don't know what we would have done without Dave (from Dolby). He helped us with getting the house painted, the pool cleaned and functioning, the furniture arranged, homeowners insurance set up, the mail and other services taken care of, and lots more.
3. Find a good management company that is close to your home. And get a really clear understanding of what they will do and when, how much they charge for everything, how they handle their business, etc. (Ok, this one we are still not sure we did right, but we have learned this much so far)
4. If you can, install both an alarm and a thermostat that you can control from your computer or smart phone. Those have helped relieve my anxiety a bit, as I can tell from my phone when people are in and out.
It is a lot of fun and a very exciting endeavor! Good luck. Feel free to PM me if I can answer any questions.
