All Forum Posts by: Judson Osbon

@Verna Barnes I'm an investor focused agent in Orlando and have had a few closings with @Raymond J. Rodrigues as the mortgage broker for my clients recently. He is knowledgeable, got some of the best rates i've seen in this market, and closed the files quickly! I definitely recommend Ray as a lender!

Where is this land located? Welcome to DM me.  If it's zoned for multifamily I may have a buyer.  

 I would be interested in attending as well! 

Great tip to use the agent finder.  If they're on BP Agent Finder, they should definitely know what they're doing.  I'm on Agent Finder for Orlando area.  We have to pay to be there and it's not cheap so if they're paying to be on BP Agent Finder then they know how to work with investors.  

Looking for cheap deals for fix and flip or brrrr. We have cash and can close quickly. Open to SFR or manufactured homes on land. Wholesalers, please add me on your cash buyers list. I am also an agent working with cash buyers on several different property types!

Great deal!  When you bring a good deal you'll find the money to make it happen.  

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Winter Garden.

Purchase price: $350,000

We purchased this duplex off market with private money. We intended to hold the property but the rate increases have pushed us into cashflow neutral territory if we were to refinance. Our balloon payment is coming due in a few months and the property is currently for sale. We will use the proceeds to invest in cheaper cash flowing properties.

What made you interested in investing in this type of deal?

We love the area and see it continuing to grow for years to come.

How did you find this deal and how did you negotiate it?

I previously sold the property and represented the buyer. After their son managing the property didn't work out they contacted me interested in selling the property. Rather than listing it, I negotiated a deal that worked for both of us.

How did you finance this deal?

Private lender, 100% financing

How did you add value to the deal?

We kept one tenant and signed to a two year lease. The other unit needed a complete renovation after the tenant destroyed it. We also painted the exterior, did lots of landscaping work, and installed a new privacy fence giving each unit a private fenced back yard.

What was the outcome?

The duplex is currently for sale. We plan to use the equity we cash out to invest in cheaper properties with stronger cash flow.

Hi Charles, 

Congratulations on getting started! If you're curious about the ARV, then a good agent who's familiar with the market can really help (🙋‍♂️). For rehab estimates walk the project with a contractor. You also need a good lender in your corner because closing costs can be higher than you think and rates are volatile right now. I have a few lenders who can do long term rate locks, which really helps.

I recently came across these as well. I think they *could* be a great investment if it is something you might also use and year or two for a family vacation. It would likely pay for itself and maybe even slowly pay back your down payment while hopefully retaining value. Very similar to something like Margaritaville or The Grove here in Winter Garden. As a pure investment, I think there are just too many variables. A short term rental that you control yourself will be much more consistent I would guess and of course normal long term rental SFR would be even more so.

One thing I would suggest, though, is if you're going to do this, pull the trigger now.  The developer will always raise prices as they build out so if you get in early you can at least get some equity built in should you decide to exit the property later.  Best of luck! 

Thanks Will!