All Forum Posts by: Claudio Trevisan

Its very difficult to time the market. So I can't say if it's better to jump in now or wait. 

I would just make sure that you get a really good deal on whatever you buy right now. Insulate yourself by buying at a good discount below market value in case prices fall. 

I don't see prices falling yet because inventory has significantly decreased, keeping prices stable for now. 

If you want to house hack but are worried about finding roommates, run the numbers with really low rents and see if that still works for you.

Thats what i'm doing. I am currently under contract to buy a property. I am assuming that I will only be able to rent out each room for $500/mo (thats cheap in my area). 

@David Pierce just monthly, 6 month type leases. No vacation rentals. 

@Tyler Gibson Thank you for sharing!

@David Pierce Hi David, thank you for your input, so there would be NO restriction if you own the property? Sorry, I should have clarified more, I own the property I live in and want to rent out the other rooms.

Any property managers, lawyers, or experienced house hackers familiar with the laws in Orlando.

Are you allowed to rent out the rooms in the house that you currently live in with a month to month lease or a yearly lease?

I see that the city of Orlando allows you to airbnb your rooms (with some rules and registration), but I am referring to renting out your additional rooms based on a longer term lease with a singed contract.

Is this allowed? (ignore HOA restrictions for this question)

Hey Tim, Welcome!

I recommend finding out what kind of investing you want to do (buy and hold, single family, multifamily, flips, etc.) and what areas you want to invest in (downtown, east orlando, the outskirts, etc.).

Then I would recommend interviewing a couple agents to find the right one who is knowledgeable around the kind of investing your looking to do in the areas you desire.

It's important to understand the basics of real estate investing, but don't get stuck in "analysis paralysis". You should have a general understanding of real estate investing and the basic terms, but you don't need to be an expert before you get started. A great agent will be your expert and mentor.

Great points! I always recommend buying the “median” for an area. Aka 3/2 1500sqft. But of course there can be exceptions if you find a good deal. 

To answer your question, yes, you can still find quality renters for bigger, nicer, more expensive homes. But your right, you may have more turnover because they have the ability to buy soon. 

The main problem is sustaining rent when the market crashes... its the expensive rentals that become vacant (or significantly drop rent). 

The median priced rentals are fine. That’s where most of the people who can’t afford there big homes anymore downsize to. 

Your best bet is to talk to a couple property managers and get their professional opinion on the specific location and property your considering 

Many investors find deals on the MLS in the downtown area. However, a lot of the flips involve adding square footage or re-building.

It's important to have a good realtor or wholesaler who knows the downtown area really well in order to spot a deal.

Also make sure who ever you are working with is knowledgeable in construction.

@Natalie Kolodij Thank you!

If two individuals own a rental property together as joint tenancy in common with right of survivorship, how would they report the income if they file taxes separately?

For example, assume the property is owned free and clear. Gross income is $15,000, expenses $5,000, and net income $10,000. Would they each report earning $5,000 on their personal taxes?

Assume the property is owned in their personal names (not an LLC, trust, or corporation).

Hi Bei He

In my experience/opinion, the highest quality areas include: Winter Park, College Park, and 32803. These areas offer the highest appreciation and highest quality tenants. However cash on cash return will be lowest here compared to the less quality areas. Your cashflow on year one would be $0-$100. If you plan to invest in these areas, it is extremely important to work with an agent who knows the area very well. These areas differ significantly by street. Just because the address is in Winter Park or the zip code is 32803, doesn't mean its the high quality part.

Oviedo is a great area as well thats a little more affordable. Oviedo is located in east Orlando near UCF. Oviedo is again another area that can differ in quality by section, although not as drastically as downtown orlando. All of the schools in Oviedo are highly rated. 

I have recently spoke with a property manager about which areas currently offer the greatest balance between cashflow and appreciation. The top two areas recommended were: Waterford Lakes/Avalon and Meadow whisper lakes. He also mentioned Winter Garden, Oviedo, Winter Park, and Lake Nona. 

Real estate in Orlando is pretty straightforward. The more expensive areas are generally higher quality and will see greater appreciation but less cashflow. If the area is really cheap, its probably not a good area. You could always invest near camping world stadium or Eatonville and receive a great cash flow. However, your probability of facing evictions will increase significantly.

I personally recommend buying the worst home in the best area. Your cashflow may not be as great as cheaper areas, but your tenant quality and appreciation will better which will give you a peace of mind while investing out of state. But it is ultimately up to you to find the right balance of cashflow to price.

Hope that helps!