All Forum Posts by: JR Paulemon

Hey Everett,

Great question, I am also looking to make my first purchase in the Multi-family space. I agree with Felipe, the comps for multi-family are a guide to how much value you can create with rents, but it does not determine the overall value of your property like SFR. Multi-family properties are businesses and the more value you can create i.e. raising rents, additional stream of income, decreasing expenses, etc. by increasing your NOI the more your property will be worth independent of the comps.

My additional question to the group would be can someone speak on the difference in financing. Non-recourse loans are available for multi-family properties, but are there non-recourse loans available for SFRs? 

Hello BP Family!

I am looking for a person that specializes in housekeeping for AirBnB/Short-Term Rentals in the East Orlando, FL area. References would be greatly appreciated. For right now it is one property they would be cleaning. It’s a 1/1 apartment that is about 580 sq ft. Our rental is open to same day check-in & 24hr check-in. 

We are looking for a person who has excellent cleaning skills and available when needed to check themselves into the property to reset/clean the property. 

It would be a plus if the person has experience with AirBnB rentals and is familiar with sharing the check-in calendar, therefore they can keep track of check-Ins and check-outs. 

I thank you in advance to any BP family member that can share some references.

Thank you!

@Brock Holliman that is great to know. Let's definitely connect offline to speak more on this. I will send you a pm and we can take it from there.

Are you developing in the Orlando,Fl area?

 Hello Brock, yes, I was able to close on a single family in East Orlando. I am currently providing student housing out of the main home and short term rental out of a 1/1 suite.

This home sits on 1 acre of land. I am actually looking for a developer I can partner with to develop mult-family tiny home capsules on the back part of the lot. This will be used for Affordable Housing. Orlando/Orange County has been pushing for more affordable housing development due to lack of affordable housing and increasing population.

I am currently working on putting together a re-zoning application.

Are developing in Orlando, Fl?

Hello  Michael,

I apologize for the late response to your thread, I was out of the country and just getting back to things.

Thank you for your response and providing some assistance to my situation. I would be excited to meet with you in October! I do have to mention I reside in Brooklyn, NY. If you let me know the specific date that you will be visiting Orlando, Fl I hope to be able to make a trip down there during that time.

While I was out of the country another investor beat me to the punch. One of my tenants received a flyer in the mail stating that a community meeting will be taken place on Sept. 4th for “Future Land Use Map Amendment & Re-Zoning”. 

Near my investment property a major development is about to took place called “Agrihood” ($1 billion mixed use development) and smaller developers are now putting in their bids to further develop this East Orlando area in specific parts behind UCF.

I am looking to get additional information on the actual developer who wants to Re-Zone my area and contact the company for plans on the development. 

I will be voting at a later date to of course get this project rolling. This developer should be able to get the green light on re-zoning for commercial properties which will put me in the clear for building on my lot (zoning purposes). 

I will keep you posted. Thank you Michael!

Hello BP!

I am looking for a seasoned Multi-Family investor(s) that have experience in providing Affordable Housing with SAIL Funding by Orange County, FL. I want to understand more about the application process and the financial reporting. I plan to build a 6-8 multi-family unit on my lot in East Orlando, FL and will be designating 40% of my units for Affordable Housing. I hope to speak with some great people who have a good understanding using state funds for the developments of their multi-family units.

Thank you in advance!

Thank you Alex! I have never thought of that but will give a try (with some caution).  Thank you.

Hello BP! I need your help. I am looking to build a 6-8 unit apartment on my lot. I currently have a 4 bedroom single family investment property on the lot but still have about a half of an acre towards the back of the property. I am looking to expand my real estate portfolio and to me the best way to get in the multi-family without competing with the big dogs is using my lot. I am looking to provide affordable housing (40% of units dedicated to affordable housing) and the rest of the units would be for short-term rentals. With affordable housing I would be able to expedite the re-zoning of my lot. Also, some possible reimbursement of certain fees. I am looking to speak with a General Contractor that has experience with Multi-Family and affordable housing requirements in the East Orlando, FL area. I hope someone on here can recommend some people. I have a business plan that outlines a 3 year proforma as well. I hope someone can assist me finding a point of contact in this area. I thank you in advance!!!