All Forum Posts by: Fabian G.

Hello Mary,

I hope all is well! I am living in the Orlando area but started looking in Ocala because the market is better when it comes to rental income. The prices in Orlando went up significantly in the last couple of months.

I am working with a local agent in Ocala, let me know if I should get you in touch. The foreclosure I am looking at would need fix up work for sure. 

In general, you should work with a local agent who knows the good and the bad areas. There is a high amount of properties in Ocala that have the potential to be good properties for rental income. I usually identify a handful of promising properties within my budget and then work the numbers to chose the best one.

Hope that helped!

Hello Justin,

Thanks for your reply! I asked my insurance broker today for a quote on this specific property. Landlord insurance would be at less than $600 per year. Very small house and the property prices in Ocala are in general very low.

However, for me it's not only about the insurance but the long term maintenance costs for these buildings.

Dear Cristina,

thank you for your guidance. The house was built in 1994 and in this neighborhood are only wood frame houses from the same builder.

Many thanks again!

Thank you for your comment, John. I am not a big prayer so I guess I will have to research the insurance cost a little bit more ;-) In addition, I am also interested if someone as long term experience when it comes to the maintenance cost of wood frame houses.

Hello Everyone,

I am looking for investment properties in the Ocala, Florida area. A foreclosure to a very attractive price came recently on the market. 

The location and neighborhood are good, my only concern is that the house has a wood frame. The house was built in 1994.

I am not looking to flip the house but to get rental income for many years. Would you recommend to stay away from wood frame houses? How much more maintenance / insurance do I need to calculate for wood frame buildings compared to concreate block?

Many thanks in advance!

Sincerely,

Fabian

Hello folks,

I am about to buy my first investment property. It will be an condo and the general building insurance is covered via the HOA.

Is it wise to form an LCC immediately knowing that I will probably buy some more investment properties going forward?

If not, what insurance coverage should I have as a minimum to protect my personal assets in case someone sues me?

Thank you so much!

You must really love this area, Justin ;-) Thank you for your help!

Thanks to everyone. What I find hard in the Orlando area is to differentiate good deals from bad deals. After the financial crisis, there are properties all across the board. I.e. properties that were sold for $250k, then someone bought them for investment for $50k and is trying to flip it for $120k. 

That makes it hard to find a good deal for rental properties / long term investments. I want to avoid to step in a "trap" and buy a deal that looks good on the first glance but on the second glance it's in an area where prices / rents don't develop or that is in general on a downward trend. 

My minimum target are solid 7-8% ROI. As I am just starting out, I want to take caution over risk even if there is potential for a better ROI. To narrow it down further: What are a couple of good neighborhoods on the east side of Orlando or in Ocoee, Winter Garden, where that is achievable?

Thanks to all of you.

Thanks for the replay, I have to check that out. What would be a sweet spot in the Orlando area for 100-140k? 

Hello all, I would be interested as well. I am new to real estate investment and it would be great to be able to exchange with some people in the Orlando area.

Cheers

Fabian