All Forum Posts by: Clay Lehman

@Brandon Singletary, we still list foreclosures but the volume is a fraction of what it used to be.  We still list for Fannie, Hudson homes and a couple of others but nobody has inventory.  I don’t see that changing anytime soon but real estate is cyclical so I imagine someday we will see higher foreclosure volume.  I just hope I have some dry capital when that day comes!!

Welcome to Bigger Pockets, that is a super impressive track record!!

Just sent you a DM.  Thank you!

Welcome Kaylin!!!  I am a fellow investor in Ocala.  Be sure to attend the MCREIA and real estate investor group meetings.  You can find both on Facebook.  Good luck!!  I look forward to reading about your successes here.  Maybe I will see you at one of the investor meetings.

Quote from @Devin James:

Every month, we like to analyze all of our markets across Central Florida. We focus on two main data points:

1) The pending to listed ratio for newly built homes sized between 1,400-2,400sqft.
2) The pending to listed ratio for newly built homes listed between $250K-$475K.

These two data points help us understand the demand for new construction homes in terms of size and price.

Here's some data from Marion Oaks (Ocala, FL) that we pulled today....
- There's an average of 1.5 months of inventory for homes between 1,400-2,000 sqft. This average jumps to 3.5 months for homes between 2,000-2,400 sqft.
- There's an average of 1.7 months of inventory for homes priced between $275K-$325K. This average goes up to 2.5 months for homes priced between $325K-$375K.

Find the sweet spot in your market(s) and get to work!!!

This is awesome, thank you for sharing.  I love how simple yet powerful this analysis is.  Meaning it’s not some crazy algorithm but it is super telling.  Thanks again for sharing this info.  Have you done a similar analysis for Silver Springs Shores?

It depends on a lot of factors, but generally speaking, I like the shores and Marion oaks.  They share a lot of similarities in terms of price point, both for your purchase as well as your rents, they are attractive to renters and first time home buyers because of their affordability relative to the rest of the county.  Marion oaks has become harder to rent because of the amount of competition but I like it for long term because that is the side of town with the most growth.  I like Belleview and Summerfield but they I feel like they will be more exposed to ups and downs because they are more rural.  But they are growing pretty crazy.  You might also consider further west, like dunnellon or citrus springs.  They are rural, but the growth in those areas is pretty crazy as well.  Good luck and welcome to investing in Ocala!!

Quote from @Shannon D.:

Does anybody know of a good law firm in Ocala area to file and represent for a small claims court case?

I recommend Richard muterali.  I will pm you his contact info, BP won’t let me post his contact info.

Congrats on the quad!!  I am an investor in Ocala.  My go to for insurance locally is Bird Insurance.  My contact is Cindy Long, I will DM you her email address.  Good luck!!!

Good morning.  Any update on the unit?  Has it rented in the time since the original post?  What steps did you take to get it rented?

Good morning all.  I have been on bigger pockets for 4 or 5 years, but just now completing my profile as directed by BP.  I live in Ocala Florida.  I am an active real estate investor.  Primarily my investments have been new construction rentals with a few flips.  I also own the commercial buildings my businesses occupy (Title Company and Real Estate brokerage).  I enjoy being a part of the bigger pockets community because it allows me to both learn and share what I have learned through my own failures and successes.  I put failures first because there have been more of those, lol!!!  I look forward to continuing to grow with the rest of you!!