All Forum Posts by: Shawn McCormick

Hi @Ryan Kwech I live in Clermont and have invested in rentals, flips and subject to here. Lots of growth and opportunity. I'm not on the commercial side and only have a couple contacts in the development side as big builders usually grab anything decent years in advance. Rentals will continue to be a good avenue almost anywhere in Lake County.

@Tiffany Kho I sent you a message. 

@Tiffany Kho I believe that this is a product of STR homes. Sellers are generally out of state/country and to sell it furnished is easier on them as they don't have to pay to move the furniture and sell it for pennies on the dollar. It is also a benefit towards the buyer as it becomes more of a turn key investment. So if you are buying in a resort community where the majority of the units are being used as STR, than you are more likely to see them sold furnished.

@Nella DiBenedetto

Orlando is a great option. The housing market here(like most big metros) has been experiencing shortages in quality rentals from all of the growth that has come our way in the last decade. So the demand for rentals is extreme, but with prices higher than ever here as well, cash flow can be difficult to achieve, but appreciation is a solid play right now. There are plenty of great areas to Orlando and depending on your target tenant (students at UCF, theme park workers, families, retirees etc) might make a difference what part of town you invest in. 

Good luck!

@Kenneth Gonzalez I have several searches set up for people looking to do the same thing in the UCF area. There are very few homes even for sale that are suitable for by the room rentals, within a 3 mile radius of the campus. When they do come up, its like a feeding frenzy. So if you are planning to finance the property, make sure you are pre approved with a lender and are able to make strong offers. Many will require you to waive appraisal and offer 'highest and best' right away.

As far as D4$, its a good strategy, but I can tell you I know a few big wholesalers that have teams of people doing that for them and any home that is distressed, behind on payments, owned by a non owner occupant or anything else that will come up on a list, is already being marketed to. So you have to stand out and be more persistent than they are. Competition for homes has been crazy for quite awhile here. Not trying to discourage you, but just know what you are in for before you spend a lot of time and effort. Finding a gem will likely take you quite awhile and in the mean time, prices are continuing to go up and interest rates will be going up too.

Best of luck!

I'd love to help, but all contractors I know can't keep up and aren't taking new projects. If you find someone good, let us know, we all need them. Good luck!

@Lou Benveniste Congrats on not giving up and educating yourself! Lots of locals in Orlando that are always willing to help. I would also suggest looking into joining the local REIA, CFRI that has about 2 dozens local meetups a month in Central Florida.

Good Luck!

@Christina Colon My vote would be Orlando for a variety of reasons. If you look at areas around Disney, there are many communities that are zoned specifically for this purpose, no need to worry about local ordinances or HOA's that change the rules on you. Orlando is the top vacation destination globally. We have a great International airport, cruise ports nearby, theme parks, easy access to East and West coast beaches, awesome year round weather that is far less effected by hurricanes than any beach location and so much more.

Virtually all STR's that are sold here come fully furnished and ready to go. Future bookings can convey if you wish, making it truly turn key and ready to go. Inventory of homes for sale in the better communities is currently quite low and calendars are full due to high demand.

Hope this helps. Good luck.

HI @Andrew Brown if you are looking for STR, virtually all will come fully furnished and turnkey, most with full calendars and future income in place. This will go for condos, towns and single family.

For LTR, that is a little tougher, I used to know of several companies that did it, but they usually rehabbed the property after purchasing it below market and then placing tenant and provide property management. Now the the wholesale market is so tight with inventory and margins are so thin, I don't see them much anymore, but I'm sure some still do it. 

Good luck.

@Candice Bernard I can't predict the market in a couple of years, but townhomes sell just as easy. It is an easy point of entry into homeownership or for people that don't like to do exterior work (paint, lawn care, pressure wash etc and want a maintenance free home). The price point of a townhome is lower and that means more people/families could get qualified for loan to purchase. Since this community is able to be rented short term, you also could sell to another investor looking for a STR or LTR as well as a family looking for a home.