All Forum Posts by: Account Closed

@Raul Leyte @Nate Anglin

Raul-

I like your recent rank. It is always a moving target based on so many different variations in what statistics were pulled. Orlando is tough right now unless you are looking into vacation rentals. Most people don't want the lower income areas at least the investors I have and that is where the good returns are right now. I recently sold a fund 5 houses. 3 were in Deltona, 1 was in Orlando and 1 was in Winter Haven. They have to be at least a 6.5% net after thier crazy spreadsheet calculates everything. I am waiting on another to close in Orlando built in 2004 near UCF sale price $155,000, rented at $1,400 and has a 3rd party BPO at $210,000. I told buyer to try for $1,500 when lease is up and I think he can get it.Inspector walked through needs 7k in work and that is if buyer chooses to change out flooring. Thats from an off market source I work with. Buyer wants to buy more, but told him this would be tough to repeat. Multifamily is tough to find and the cap rates are tight. Have to source off market for those. 

Tampa is swamped right now, but it seems like you can still find deals on newer houses and in decent areas. Everything I am seeing out of Jacksonville is in lower income areas and returns are high in those areas just depends if you want to deal with it. I like appreciation in these markets better than Orlando. 

Areas I also like for appreciation are Lakeland, Winter Haven, Ocala, certain parts of Lake County, 

Areas that cashflow, but home values won't appreciate as fast- Poinciana, Deltona, Pine Hills

Once again this all depends on your criteria. 

Hi @Paul Kochendorfer Welcome to biggerpockets!

@Raul Leyte

The article you are pulling from is over a year old. Forbes just came out with a nationwide places to invest in January of this year.

Nationwide this is how Florida cities rank

#2 Orlando

#8 Ft. Lauderdale

#10 Cape Coral

#12 Sarasota

#18 Jacksonville

#19 West Palm

Tampa is a really hot market right now and have been helping investors that buy in Orlando branch out into that market. 

@J P.

Looks like you are on the right track. I am working with investors buying and holding in Central Florida as well with helping a couple funds buy in Florida. I don't like this deal for multiple reasons and I know you can do better. If Tampa is a little farther than you want to go look at Deltona, Poinciana, Winter Haven and Lakeland. I have turnkey in these areas that are netting 5-8% that I am helping sell. With you being boots on the ground you can get that a little higher. Mls is very competitive and patience is key. I work with a wide variety of lenders from conventional to private. Let me know if I can answer any questions for you. 

Welcome @Glenda Lee 

  @Hank Oyler  What type of loan? Hard money or Conventional?

@Soh Tanaka

Our company has helped many investors and funds buy turnkey in Central Florida. Let me know if there are any questions I can answer for you.

Welcome @Jovan Dinnall. Looks like some good majors there. If you have any questions feel free to ask. 

@Prince Johnson

I was wholesaling for many years. I now just represent my clients and have taken myself out of the middle. I have sold houses from Lakeland to Daytona and a good amount in Lake County. Your hot markets are going to be moving targets. When I was training new hires at my old office I would always tell them to learn as many areas as they can that way they are not limiting themselves. There are deals in every market so start with the ones that you know and work out. 

@Don Seidel 

Welcome to biggerpockets. Let me know if I can answer any questions for you.