All Forum Posts by: Louie Jhan Centeno Maglaque

Hey guys, im thinking to buy a condo in orlando under 110k. I thought of this because i was only qualified for 110k. I found some condos already under 100k. Some of them has hoa fees of 150-300. All of them are close to the airport, universal studios and disney world and other popular places in the area. I just have to make sure that the association is very good with their management.

also, my goal is to buy multifamily. This is just my way of getting there. Thinking to do a conventional 5% down. Im just not sure if 5% down has to be owner occupied. Do you think this is a good idea? Thank you in advance!

@Jaysen Medhurst Water/sewer is public and lawn care I forgot. Thanks! I was thinking of doing myself. So what do you suggest for pure investment? This is my first property to build up. 

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*This link comes directly from our calculators, based on information input by the member who posted.

This is a deal I'm thinking to do. FHA loan. The lender is not a bank but a company that my real estate agent referred to me. I could lower the price more to suit my needs. The only need fixing is the exterior paint and update the kitchen's appliances,counter top, and washer/dryer. It has a huge backyard and extra room to be a bedroom,den ,office ,etc. The link below is what it will be after I moved out of the place. My agent also said the rent for this area usually is 1200-1300 which I looked at and it is. Just want some advice from you all. Thanks!

https://www.biggerpockets.com/...

Hey guys! I'm a new investor in Orlando,FL. I'm just wondering how are this location compared to Orlando to invest a buy and hold property. Been seeing a lot of development lately especially davenport and poinciana. If anyone that has properties in this location, I would like to hear your opinion if this is a good area to invest. Thank you!

I'm sorry Joe! I forgot to say this but a friend of mine was the one who saw/knows about the property and showed it to me. I know it is kinda stupid to ask them less but they are trying to sell it for a long time and no one is buying them. I don't know their motivation yet but after I know why, I will re-run my numbers

I analyzed first from 850(which is the suggested rent from the MLS) and the CoCROI will only be 3-5%. I used rentometer and the average rent is 1100. However, on the map they have on rentometer, most apartments are paying 950-1000. The crime rate is really low and errands can be accomplished by foot. it is a 2/2 per unit. I just have to do some rehab like painting. I might go low as 900-950 just to be the same as the market and still get about 6-8% CoCROI.

Thanks Shawn for the response. Thank you for the advice! I haven't talked to the seller and don't have any clue on why they're selling the property. I will ask them that and if for no reason they don't accept my offer, I will just move on. I tried to analyzed the property with their asking price and I will get a CoCROI of -1%.

Thank you @Bjorik Mutize. Yes, sir! I will definitely do that after the rehab.

Thanks for the response Patrick! it's an off-market house and was listed 2 years ago. I'm just hoping that they will take my price. If not, to the next one! on the mls, it says 650-850 but I use rentometer just to see if that was accurate. rentometer's average was 1100, and the area close to it was around 950-1000 but that will change if I don't get any tenant for a certain amount of time and when I rehab the place.

Thanks for the response Danielle! I just researched the vacancy rate for that area and surprisingly it is only 3.4%. If that's the case, lucky me =). I will definitely put around $10k-$30k for rehab such as painting(I will try to this myself to save),fence was crap, etc. kitchen looks decent. Other than that, I don't know anything about the property 'til I go and check it out.