All Forum Posts by: Shawn McCormick

@Dilip John Are you looking for investors that may want to purchase this home off market? Not quite sure what your question is. Depending on what community it is in and what side of HWY 50 could make a big difference. 

Hi @Account Closed. The median price for a single family home is now at $320,000. I'm not sure I understand how you plan to find a quad for a third of the price of what you see on the market and also want it to double the current cash flow. Am I missing something?

There are currently 13 quads within 50 miles radius of Orlando from $319 to $999. So finding one at $200k (or below as you stated) would be quite extraordinary! Let me know if you want more stats or current inventory levels. Best of Luck!

Hi @Kristi Troy, there are many out there and they don't keep them secret. A few wholesalers do their own as well as some flippers, check FB groups and meetup.com. If you are ready to really dive in and network with more people, I would suggest joining CFRI.net It is the local chapter of the National REIA, a non profit organization that educates, promotes local investing with local-like minded people that really want to help each other. Great place to meet all types of investors from tax deeds, flippers, wholesalers, property managers and so much more. It's only $175 a year and they have about 20+ meetings a month all over Central Florida. Some meeting are still on Zoom right now, but some are still in person.

Welcome to BP and good luck!

Hi @Eric Starks, There are a couple REIA groups in Orlando. I am a member of CFRI and really recommend it for networking, education events, access to all types of trades, mentors, PM's, and so much more. It's $175/yr and there are about 20 meetings a month. They cover Orange, Seminole, Lake Osceola, Volusia and Brevard..so there is always something going on.

In addition to that, many of the members have formed their own meetup.com or facebook groups that meet in person too and have a wide range of topics covered.

Hope this helps. 

@David Kr Welcome to BP and the Florida market. Orlando has been experiencing double digit appreciation for many years. The appetite for investors and the public in general has fueled our growth for many reasons. Our tourism has grown, we've attracted higher paying jobs, an aging population and now work from home continues to make it an attractive destination. 

If you plan to use the property as an airbnb, there are many factors to consider. 

Good Luck!

Hi @Trae Roy. Here is a very over simplified youtube video from my mentor. You don't have to find million/gazillionaires, just people that have some money sitting around in an IRA, solo 401k, Health Saving Plan or just cash that want to put it to work. You won't need millions (yet!), just enough to do the deal. Hope this helps. Lets connect.

Hi @Titus Hill I'll send you a message and see if I can help you with both of your questions.

1. @Trae Roy. There is so much private money out there, you have to network and ask people you know. 

How much are you looking for? 

How much interest are you offering? Are you paying that monthly or at payoff?

Will you pay points?

How long will the money be out? 

Do you have someone to draw up the note and mortgage?

What position will this person be in, what is their risk/reward if not 1st position

Is the money you are looking to fund the purchase? If so, where is the money for the rehab, holding costs and overruns coming from? What is the ARV (what is rehab takes 3 months longer, will you still make money

Do you have a prospectus to provide to lender to show your experience, the details of the flip, references. Are you doing the work or hiring a GC or subs, how are they being paid. Is the hard money person doing draws. Who's the insured on the property, what type of insurance do you have? I would have another 20 questions for you if you were to come to me for private money, so be prepared for these and much tougher questions if you want someone to trust you with their money. Not trying to say you haven't thought of all this, but your post is somewhat vague. As I mentioned, there is money everywhere, but you have to have the answers so that the people that have it can vet you and the deal.

Best of luck, hope this helps.

Hey @Matthew Raby look at meetup.com for Brevard REIA and others in that area. Also CFRI.net is a great resource and covers 6 counties in Central Florida. Most meetings are still, or going back to zoom meetings due to the pandemic still, but a great place to start and get connected so that you will have some valuable information and names of who you want to connect with when they go back to in person meetings.

Welcome back to Florida and good luck!

@Joseph Pack Jr..Tyler is correct, we are not allowed to 'self promote'. but if you look at our profiles or in the vendors list, you will be able to find some. I do have access to a global referral network that I can vet agents in any market to make sure they are a good fit for you. Hope this helps.