All Forum Posts by: Shawn McCormick

@Lorena Bermudez The Metrowest area is full of condos and there are always quite a few to choose from, the prices there have shot up in step with the rest of the market over the last year and most aren't worth it. The average rents for that area on the 2/2 that you are looking at should be right about $1800 and if both places have renters and they have an actual lease in place (not month to month) then you will have to take over the existing lease until it ends. So calculating returns should be easy, both of those units have HOA's around $250-280 and since you are a PRO member here, use the rental tool calculator to help figure out the rest.

Hope this helps

Hi @Aayush Shah, congrats on taking the first steps. Orlando is a great market and very active investor community. One of the great places to meet and network with other investors is joining/attending local meet up groups, including CFRI. They actually are having the monthly general meeting tonight in Orlando, short notice, but worth it if you can come. Reach out if you ever want to chat about the area or need some advice from a local. 

Best of luck!

I have a couple that I can suggest for you if you haven't chosen anyone yet.

@Nancy Bender there are currently 16 active listing in Margaritaville and the supply of listings is almost always higher than other similar nearby resorts. 10 of those 16 have been listed for 60 days or more. I don't know that I would gamble and say you could sell it if it doesn't work out, you could be holding it for some time.

@Hilary Stalder I am a long time member of CFRI, the local chapter of the National REIA. The next general meeting in July 12th near downtown. There are more than 20 meetings a month all over central Florida and some people also run independent meet ups too. You can print out a free guest pass for your first meeting.

@Michael Furey Lots of good advice and information here for you to digest. Still lots of questions to be answered and considerations..

where do you want to spend time at, choose a location that suits your vacation needs too..

taxes and insurance will be huge factors in beach cities...

regulations are just plain hard to keep up with if you aren't local...

condo fees will be likely way too high in beach areas and kill your ROI...

good, consistant, experienced PMs/hosts in some areas

travel to and from your location..from airport, from beaches, toll roads, etc will they have to have connecting flights, then rent a car and drive another hour?

how well known is the area you are looking to go for the huge International vacationers that come to Florida

Orlando gets my vote on all of these questions, it was built for STR and has dozens of communities that are designated for STR usage. Our inventory is getting much better and you will have better luck finding a motivated seller.

Hope this helps. Best of luck!

Hi @MIlena Sena

I do not own properties in CG, but have several clients that do and they are all still doing quite well. Interested to hear if the people that told you that were speaking of Orlando specifically. Since we are more a global destination...as opposed to the more driveable U.S. destinations. I do know those types of markets have been hurt badly with gas prices, but Orlando is weathering that storm better than most.

Championsgate is a consistent performer, but it is a big community so you do have to pick a good property, just being in there isn't enough. It does have a great reputation and following. Make sure your agent is vetting the home, furniture, theming and overall condition. There are many that aren't well maintained.

@Antonio Sparapani

Sounds like you got some good advice. I am local and would be happy to talk thru some options you might want to consider. Condos have different lending requirements that may limit your buyer pool to have them qualify (or the condo association qualify). Best of luck, let me know if I can be of any help.

@Brittney Smith I sent you a message.

Glad she worked out for you. Happy to help anytime!