All Forum Posts by: Craig Gaydas

Yes, we are looking to build up our STR portfolio in the PCB/Destin area.

I guess it depends on the industry. People still choose to live in Ocala and commute to Gainesville (myself included) because property values in that area are higher than average. As for Ocala proper, Chewy opened a large distribution center not long ago. Coca Cola and Dollar Tree plan to expand their distribution footprint in Ocala. Advent Health just recently took over Florida Hospital and is in the process of improving service and renovating, so coupled with West Marion and Ocala Regional there is a good demand for doctor's and nurses which UF just keeps pumping out every year :) As for manufacturing, E-One (Fire and Emergency equipment) is still a big player in town, Signature Brands has a presence (Betty Crocker). Lockheed Martin has a facility in Ocala, so the jobs are here, but I-75 allows people to live in a less expensive location and commute in either direction for bigger employers like Pepsi, Disney, Siemens, Johnson and Johnson, etc. But like any other RE market, you just need to find the right numbers and opportunities and be ready to pounce when they present themselves. 

Russell, I just got started in REI in Ocala while my wife was getting her real estate license so we just started exploring the area and we are indeed finding some pretty nice deals. Ocala is really becoming a hot spot for development. The Equestrian Center is scheduled to open January 2021, just west of I-75 and north of the Marion Oaks district. Currently there isn't much commercial development in the area but plenty of opportunity. Marion Oaks right now is exploding with residential development. I live just north of central Ocala and their historic district is currently undergoing renovation with ongoing discussions with the city to designate Wyomina Park as a potential fifth historic district. There are a lot of moving parts but they seem to be coming together nicely to set up Ocala as a landing spot for all those folks who cannot afford housing in Orlando, Gainesville or Tampa areas. We are seeing the average 3 bed 2 bath with minimal rehab running in the 150K-200K range and property taxes are currently low, creating a good opportunity here to prop up the rental market which is slowly running out of supply to the increased demand.

I agree with everything Russell stated about the Orlando market. Some of the numbers made my eyes bleed. That's why I am sticking to Marion County right now. There are a lot of development opportunities since it is strategically situated between what I call the opportunity triangle: Orlando, Tampa and Gainesville. With a new equestrian center slated for 2021 and two large distribution centers scheduled for development, the rental market is a potential goldmine....as long as the numbers make sense.

On a scale of 1 to Bernie Madoff, it's a "Madoff funding a Kenneth Lay" venture.

As of right now we are closing on our primary residence in January. As for investments my wife and I are looking to grow in the Ocala market by investing in flips or LTR's. We have seen an increase in foreclosures and believe there is a prime opportunity right now to get some of these under contract for 2020. We plan on starting with SFR's next year and for 2021 we may look into multi families/apartments as there seems to be a lack of good quality apartments/multi's in this area.

Goals for 2020:

1) Pay down debt

2) Have under contract 5 units

 A little bit of everything. Some SCI-FI, some action, some thriller. It's like brain stew.

Howdy BP members,

My name is Craig Gaydas, and I am new to both Bigger Pockets and to REI in general. Just a little bit about me: I have been a supply chain procurement and operations professional for over 20 years involved in every facet of manufacturing from warehousing, to production, to procurement. I actually found this forum via Youtube and after watching just one of Brandon Turner's podcasts I was like "this guy is as wacky as me" so I joined the BP forums. After watching his podcast on how to invest in real estate with little or no money down I immediately signed up as a Pro member.

My wife is taking her real estate agent's exam soon and we hope to begin our real estate investing adventure starting in the Ocala-Gainesville area with flipping and LTR's and eventually branching out to a couple solid STR's in the Destin area where we hope to retire someday. After signing up for Pro we immediately purchased Brandon's book on real estate investing and we are currently searching our market area for opportunities. Hopefully we can even hopefully meet up with a couple BP members via Marion County REIA or the Emerald Coast REIA.

Oh and what do I hope to gain from switching my focus on manufacturing everything from MRI machines, to Airfryers, to Sonic Care toothbrushes and negotiating million dollar deals with Fortune 500 companies? Is it money? Is it fame? Do I want my name on large towers in downtown Manhattan?

Nope, financial freedom. It's time for us to begin our true passion: travel.

PS: Side note about me. I have 6 books published on Amazon. All are fiction...all are ridiculous.

This is Craig, signing off. :)

Congratulations on your success. We are looking to rehab a roach motel into upgraded apartments in Florida and I am glad to see you having success with a similar project.