All Forum Posts by: Jay Breitlow

@Shawn McCormick has you started well. If you are looking for a condo that is a drastic difference in search criteria versus someone looking at a SFH. There's plusses and minuses to both. To the condo convo: If you are a Disney person on a budget you could look for something like Bahama Bay.

If you are a Universal and Sea World pass holder and you are thinking you want to skirt traffic and spend time in downtown Orlando also (and have more budget) you might be thinking of Vista Cay (one of the few spots in Orange County zoned STR).

@Account Closed It's a more nuanced conversation then "where do I start"?  Because the options are almost endless.  And can be overwhelming.  I have many good friends in the GTA.  Hope you and enjoying the winter wonderland!  I hear it's been white!! 🤪

@Benjamin Hazlett I am guessing my good friend @Tyler Gibson has you square here but if you type in "orange county" on google maps you get a perfect where NOT to buy.  everything south and West of that box you are golden. Davenport, Kissimmee, and Clermont are your friends here.  Hey we are all your friends in here tho! Hope you have a prosperous week and don't hesitate to reach out for help.  It's all about building a checklist, a pro forma and assessing where YOU want to come visit.  IF the house appeals to you, it will do well - generally speaking.

I only know the Orlando market well and can only speak to having the right property, with the right data and building out a proforma to support your debt servicing.  There are TONS of vanilla houses out here rented out doing ok, but very few that the homeowners really have classy themes, amazing guest experiences and consistency in guest stays.  As long as you are willing to put a little creativity into ORL the Davenport, Clermont (south clermont) Kissimmee SFHs will shine.  And clearly by your post that drive is there.  Hope this helps and good luck putting together your team @Eric Garcia!   BTW we just looked at an ugly duck today that would still cash flow on La Isla dr in kissimmee that could be a great case study for u.  i think house number was 8667 but i could be wrong.  i have been before.  just ask my wife... ;) 

Yes! Stephanie is awesome
www.inspiredwaveshomeloans.com

nice video of her here :) 

Welcome @David A Bailey Jr!  It's amazing isn't it that we get to work and play in Central Florida?  I often have to pinch myself.  Having been born in Wisconsin, lived in Colorado and now Orlando - man, I'll never go back! Here's to a prosperous new adventure good sir!

@Shawn McCormick is spot on here. I echo what he says about May being a good time to plan on updates etc.  And really you don't need to crush it all then or be worried about a shortage b/c worse case scenario you could finish a project in the downtime in Sept and still capitalize on the amazing summer bookings.  From my experience - and I am not an agent - have very specific criteria, very specific DATA as to what you are looking for.  

So when the project/house hits you are ready to strike with escalators and appraisal gaps.  And appraisal gaps are a thing now for sure b/c the houses are themed and I believe - correct me if I am wrong here @Shawn McCormick - but most of the appraisers don't count the inners of the house that comes with the sale in ORL.  There will be a cash investment beyond your downpayment either way - just depends on where it is spent.

I do agree about the themed smaller BR vs unthemed larger.  But my rule of thumb is this, go for the bigger BR. You can always add an Encanto room (BTW do THAT b/c nobody has those yet!!) but you cannot add a bedroom.  You can always add harry potter wallpaper and an epic train bunk.  You can't make the house closer to disney... which is one of the most key variables to consider relative to ADR and %occ.

So yes I see the "theme data" as well - and relevant to the market realtime... but may or may not be relevant to your goals large picture. What we are seeing as time goes by in the buying process, is that revenue projections need to come from multiple sources to really build a pro-forma out.

One last point/story to consider: we had 3 clients this week (each with a different agent) and they were all bidding on the same house.  One got it but it was his 5th attempt.  He learned more the further he went. So stay on it.  It is competitive but it's competitive for a reason and it's competitive b/c the numbers work.  Hope this helps!  Keep building your team and resources @Melanie Martin del Campo!

@Ryan Moyer makes great points here about thousands of units that all look the same.  Your place is popping my friend - it looks amazing.  I agree revenue projections can be difficult to get and I also agree Airdna is NOT the answer.  Price labs is an option as is RunRevr - altho I will say that I notice that their data is wildly off about 25% of the time from when I really have out team do a DEEP dive on a revenue projection.  @David Parathundil if you would like I can see what we come up with on your address.   try runrevr also and see what that spits out.   

Agreed 100% on Central Florida. Lots to love about it here. We work live and play in Orlando and we continue to watch the evolution of the STR market here in awe. But the biggest question to you @Joey Brantley is where do YOU want to live for the next year?

@shawn you are EXACTLY right about Orlando.  What there is a dearth of are properties with great themes done tastefully and with houses that have consistent GREAT guest experiences.   There are ways to stand apart from the crowd and there are ways to blend in.  Stand out by creating raving fans - only accept great guests - have a high ADR (yes and sometimes lower occ %) but your house and guests will pay it forward.  Also be sure you get monthly (high and low) monthly revenue projections so there is no guessing on a proforma.  Hope this helps.  

Know that Orlando has a great incoming regular guest traffic flow - even now as we are about 1/3 of pre March 2020 guest stays.

You have the right mindset, so first and foremost you will be a success anywhere you go. My wife and I moved to Orlando from Colorado 2 years ago for the real estate and the sun.  We have since started acquiring property and also have a Short term property management business.  I will say this, anyone who is putting in the amount of work you are will be a success.  If I can help you get comfortable in and around ORL let me know.  We would love to chat up the area irrespective of your timeline.