Looking for first Multifamily Orlando

[Tyler Green]

Hello Everyone,

I'm looking to meet agents, wholesalers, or potential partners for multifamily deals in the Orlando/Volusia areas.  Ideally, would purchase a duplex, tri or quad to start.  Would be looking in A or B neighborhoods where I could see potential for long term appreciation.  Need them to cash flow and be around 1% rule.

I currently have 4 mobile homes (on land that I own) in Daytona and work with my mom, who's local, to manage them.  We've been successful and have some decent cashflow from these properties but looking to add a multifamily for a more long term strategy than the mobile homes. 

Please reach out if you have any opportunities or suggestions.  Currently located in California, so would be great to connect with investors in Orlando/Volusia area.

[Lo-An Schoeman]

I agree with the consensus. What you're looking for is hard to find however you are able to get close. The demand for multi-family properties are high and those few that are listed tend to be overpriced. In areas where appreciation is set to be higher investors are happily paying a premium for those properties. For those that do close and are overpriced the sale to list price is on average about 10% less so you are still able to negotiate you just need to get a dialogue going. 

I've been a Realtor in Orlando for the last 6 years and have helped investors purchase multi-family under 5 units. If you need any help valuating properties, I'd be happy to help! 

Best, 

Lo-An