3rd Deal in 2021 in the Craziest Ocala Market..

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3rd Deal in 2021 in the Craziest Ocala Market..

Murali Jesudoss
New to Real Estate · Reno, NV · Member since 2020 · 58 posts · 34 votes

Hello BPers,

I would like to share my 3rd successful closing this year.. Note that I started investing this year :-)

Single Family Home. Buy And hold Rental.

Ocala, FL - Ocala Park Estates, 2019 Built, 1008sq ft or so. 3B/2B/1G.

Price: $135K - It actually appraised only for $129K or so but the current similar or inferior listings are there for 150K :(

Conventional Loan with 3.625 rates 20% down before the rate hikes started (no points).

Not yet rented and hoping for $1300+ rental, Fingers crossed.

@Clay Lehman and team is awesome! Thanks to the community and the knowledge. @Nick Giulioni inspired me :-)

I have 2 more new constructions in the area, but they are closing in summer. No rates locked unfortunately and had to pay higher interest.

One more closing in April in KC-MO Buckner area through roofstock. Will share more details once closed.

@Clay Lehman

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Mike Dymski
Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
5y

Nice work.  While others are wasting time complaining about moratoriums, the government, the media, high prices, and everything else we can't control, you're making it happen.

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  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    5y

    Congratulations on your success @Murali Jesudoss ! 

    0Reply
  • Nick GiulioniPro Member
    Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
    5y

    Crushing it! :)

    0Reply
  • Mike Dymski
    Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    5y

    Nice work.  While others are wasting time complaining about moratoriums, the government, the media, high prices, and everything else we can't control, you're making it happen.

    1Reply
  • Gavin WelchPro Member
    Real Estate Broker · Lakeland, FL · Member since 2011 · 305 posts · 181 votes
    5y

    @Murali Jesudoss. Yes Ocala is my hometown and there are lots of deals to be made..

    0Reply
  • Shiloh LundahlPro Member
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    5y

    @Murali Jesudoss Congratulations! It’s awesome to see that you can get a new build for those prices that will rent out at the 1% rule. Fantastic.

    480-206-1209Podcast Guest on Show #287
    0Reply
  • Josue Molinari
    Investor · Ocala fl · Member since 2020 · 43 posts · 13 votes
    5y

    @Murali Jesudoss that’s awesome! I’m a local I’m ocala and I’m seeing tons of action in the OPE (ocala park estates) area! Let us know how the rent goes!

    0Reply
  • Murali Jesudoss
    OP
    New to Real Estate · Reno, NV · Member since 2020 · 58 posts · 34 votes
    5y

    Thanks all :) 

    0Reply
  • Roberto Joya
    Rental Property Investor · Hollister, CA · Member since 2021 · 11 posts · 1 vote
    5y

    @Murali Jesudoss happy for you! Keep the momentum going 2021 is the year!

    0Reply
  • Marelyn Valdes
    Investor · Ocala, FL · Member since 2016 · 299 posts · 110 votes
    5y

    If you are handling the rental yourself, join https://www.facebook.com/group...   and you can see what rents are in your area and people begging for rentals in Ocala

    0Reply
  • James Miley
    New to Real Estate · Ocala, FL · Member since 2021 · 3 posts · 2 votes
    5y

    Congrats on another deal, I'd love to see how I an help if you're not living in the Ocala area. I'm currently finishing up my home inspection coursework to take the state exam, and working on selling some items to have capital to invest in real estate opportunities. 

    0Reply
  • Brent ReynoldsPro Member
    Real Estate Agent · Clermont, FL · Member since 2021 · 31 posts · 35 votes
    5y

    Congrats, Murali - please keep sharing your successes.  I'm and investor looking to Ocala as well and would love to learn from you and support you in your growth there.  Mostly interested in small multifamily.

    [email protected]
    1Reply
  • Murali Jesudoss
    OP
    New to Real Estate · Reno, NV · Member since 2020 · 58 posts · 34 votes
    5y

    @Brent Reynolds Sure. I am closing 2 new construction homes in Ocala in first week of July. I will keep you posted. I am also doing a rehab in Blue Springs MO and hoping to finish by 1st week of July too. Closely working with my friends on LLCs and partnership deals where we may close 20 or so deals by end of this year. Amazing journey..

    1Reply
  • Vanessa Li
    Member since 2021 · 20 posts · 20 votes
    5y

    @Murali Jesudoss Congrats! May I ask the zip of your property? I am interested in investing in Ocala and just start to learn about this city. 

    0Reply
  • Murali Jesudoss
    OP
    New to Real Estate · Reno, NV · Member since 2020 · 58 posts · 34 votes
    5y

    @Vanessa Li Sure. 34482. I have them in 34472 as well. I am getting like 10+ there too but I seems to have run through all the nightmares already in the area. I had a break in in one of my newly constructed home when it was listed for rent. It had some issues and waiting on the market for 2 months to rent and somebody broke in and this one is right across the street from the above. My first ever deal in Ocala was listed for sale and got a good price but had a squatter there until yesterday and had to call in sheriff to get rid of him. Not fun but I dint expect to see these issues so sooner.

    0Reply
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