All Forum Posts by: Charlie Miller

So are you buying your Dads property that is being foreclosed on?  I'd think banks would have an issue with that (Arms length agreement).

Hi Devang, I think it's safer to be diversified and have real estate and stocks (401k/IRA)...especially if your company matches. Sometimes you can borrow against your 401k as well.

@Andrew Davis I live in New York doing the drug rep thing but invest in Orlando/Central Florida. Luckily found a solid realtor/property manager. Finished house looks great!!

Awesome job!  Looking forward to part 4.

I have no experience with any deal close to that magnitute but I have a couple of properties near Championsgate in Davenport, FL. The area is certainly growing but it's a bit of a commute to Orlando.

Another reason to get the inspection is that the insurance companies in Florida seem to want a copy of the inspection (at least that's been my experience). I wouldn't want to try to get coverage after telling the insurance co that I didn't get the property inspected.

I actually sold the vaca condo a few months ago to free up money for the long-term properties. I did not do any marketing of it on airbnb or vrbo, etc. I'm sure if I put more effort in and did stuff on those sites I could have done better with it. I have places pretty spread out. After the vaca rental I purchased 2 condo's in Orange County (Hunter's Creek and Lake Buena Vista). Like people will tell you on here, Condo's aren't the best rental property but living in NY I wanted to minimize the hassles until I gained confidence/good people down in Florida. They're working out fine but after the HOA the ROI is less then the SFHs. After the condos, I started buying SFH and they've all been in Polk County.

Welcome Carlos! My first Florida investment was a Vacation condo near Disney (Bahama Bay Resort in Davenport, FL). Beautiful place and it rented pretty well through the resort but after all the fees it almost broke even (with no mortgage payment bought with cash). I could have done more marketing on my own to get better returns but I'm having more success with long-terms. Agree with Levi that the multi's don't seem as common in Orlando but if your're willing buy outside Orlando you may find some good ones. I'm in contract on a duplex near Deland for $72,500 it's fully rented for $1100/month. No HOA.

No more TPS reports! Congrats!