All Forum Posts by: J P.

Thanks everyone!

I'm not from Orlando but I've been here 4 years. I moved here from Atlanta which is more urban so thought it wouldn't be that bad. I feel that people saying an area is good/bad is based on their personal experiences and what they've been exposed to. As some say 32811 (Orlovista) is bad and I've lived in the area 2 yrs with no problems in a gated community.

I have been looking at SpotCrime. I think I may have skipped over the address for this particular property b/c I wouldn't said no to a shooting in the area. I did, however, look at Parramore more south of this place and there was shockingly not as much activity. Miscellaneous things like suspicious person.

The area I've been shown this week to look at is Hiawassee. Deb, what is your take on this area?

Jason, I'd love to speak with you and brainstorm. I was originally looking at a condo in the I want to say Aloma area or Azalea Park. I've been speaking with an investor who buys in Pine Hills mostly and looked in the area as was as Parramore. One would think it'd get cleaned up bordering stadiums and also College Park.

Hello

This property is in Orlando, FL. It's an area that doesn't have the best rep (Parramore), HOWEVER, they are building the new Soccer Stadium nearby. I think that with that development, the area may improve in a few years. It is set to be ready in 2017.

The listing price is 85k and is said to be Section 8 with tenants in place.

2- 2b/1b

Each side rents for 550/month.

Here is the information posted.

This is a huge ROI property with no investment needed other than the sales price+closing costs..... The property has been producing about $1,100 p/month since 2012 and will appreciate in value with the BRAND NEW ORLANDO CITY SOCCER STADIUM going in right around the corner!! This property is Duplex style and is already occupied. Very simple transition to new owner and the only thing that changes is who collects the money on the rent. This property is currently collected through Section 8 which is great government money so you know you will get paid. The current rate is $550 per unit and they have always been occupied so vacancy has never been a problem here... This is a Great starter Investment for someone that wants to stay under the 100k mark before they make a leap.... Will not last long!!!

Property Tax

Year

Taxes

Land

Additions

Total Assessment

2014 $593 Price Unavailable + N/A = $21,418

2013 $438 Price Unavailable + N/A = $19,471

2012 $545 Price Unavailable + N/A = $24,912

Using BiggerPockets Calculator, I put in offering 75K (remember, listed at 85k)

Monthly Income:
$1,100.00

Monthly Expenses:
$640.43

Monthly Cashflow:
$459.57

Pro Forma Cap Rate:
11.82%

NOI:
$9,163.00

Total Cash Needed:
$17,500.00

Cash on Cash ROI:
31.51%

Purchase Cap Rate:
12.22%

located in Callahan neighborhood in Orlando. Here is a price comparison in other areas:

Nearby Neighborhoods

Thanks so much for any info you can provide!