All Forum Posts by: Devin James

Sounds like you did your due-diligence, I would call/email the city to double check. Email would probably be ideal so you can have it in writing.

Hey Salwa, i'm not sure with condo's but Orlando has strict regulations when it comes to AirBnb's. I would double check to make sure you are allowed to Airbnb!

Welcome Kanti, Meetups Meetups Meetups! I would say to go to as many in-person Meetups as you can! It's all about who you know.

Hey Caitlin, I am currently house-hacking while also doing a live & flip. The property includes a main home that is 3 bed 2 bath with about 2200sqft, a detached unit with about 500 sqft and a basement to the main home with another 500sqft. After done with all the rehab we are going to sell, which will probably be around January. As previous investors stated, it is difficult to find multi-families to house-hack in Orlando (especially in the nicer neighborhoods). Let me know if you have any questions!

Investment Info:

Large multi-family (5+ units) buy & hold investment in Orlando.

Purchase price: $1,110,000

This property includes 8 1bed/1bath units and 1 studio located a few blocks from downtown Orlando. Great location with plenty of local restaurants within walking distance.

What made you interested in investing in this type of deal?

The power of debt pay-down.

How did you find this deal and how did you negotiate it?

We found this deal on market and offered no financing contingency with quick closing.

How did you finance this deal?

Loan that required a 20% down payment. We raised capitol for the 20% down-payment.

How did you add value to the deal?

Property was well kept by previous owner, but the owner was not capitalizing on the investment to its potential.
We added about 100K worth of value which included:
- Exterior Cosmetic Work (Horizontal fencing, sign with building name, etc.)
- Interior renovation (Updated kitchens and flooring)

What was the outcome?

- Day 1, 16% rent increase
- Preferred return for our investors with a 50/50 profit split.
- Significant Cash-flow
- DEBT PAY-DOWN

Lessons learned? Challenges?

Challenges:
- Getting financing in 20 days after our first lender said they couldn't close in time.

Congrats!!

Welcome to Real Estate for All!

We're hosting a low-pressure, fun, and fast-paced NETWORKING session to launch the Real Estate For All meetup groups nationwide.

Jonathan started his Real Estate journey in 2017 when he was fed up paying rent in Los Angeles, CA and learned about house hacking. He worked for ten years in the film industry and wanted a way to subsidize his income during slower work months as well. He was able to find a loan program that allowed him to borrower 110% of the appraised value to renovate the home with zero money down. He closed on a triplex in 2019 and used the funds to completely renovate the property without knowing much about the process. With a shoddy contractor leading the way and many construction videos on youtube, the property was finished and rented out end of 2019. After this journey, he decided to switch careers as he had learned about the loan process throughout his project. Becoming a mortgage broker was the next logical step and the brokerage he works for now, hired him because none of the brokers could beat the loan program he obtained as an amateur. He now specializes in investment property and creative financing for beginners and investors alike while expanding his Real Estate portfolio.

Building an interconnected group of relationships with other investors is at the core of your effectiveness both personally and professionally. Being known to the other members of our Meetup as well as ensures that others are aware of how YOU might be a resource for them.

Make sure you RSVP for this session right now.

Also, can you please help Real Estate For All in two quick & easy ways?

1. Invite a friend to come with you.

2. Post and share our event on your social media.

AGENDA:

10 min - Meet & Greet members

30 min - Lending Presentation

10 min - Q&A with Jonathan Taylor

5 min - Wrap up & Preview of upcoming events in Real Estate For All

PS: Have a deal you are working? Need some help? If you'd like the group to review your potential investment, then please contact the meeting organizer. If you're selected for the "Live" Deal, then bring the details and we'll work through it together.

Please contact us if you have a specific topic you would like to address to the group or have any other questions. See you there!

Hey James, in my experience & location, properties rarely meet the 1% rule. I would make sure that when you are calculating your cash flow to put money aside every month for repairs/maintenance, capex, property management, etc. Doing so will give you a more realistic Cash on Cash Return. Also, rent vs. sell, it depends on what your investing goals are. If you're sure that you can find a better return on your money, then I would say sell. But if you are happy with your return, then just keep it.

Hey Sabine, I am from Port st. Lucie and would love to hear more about this home!

Congrats!!