All Forum Posts by: Shawn McCormick

@Daria Berenato Orlando is the number one vacation destination in the world and the theme parks keep growing. The audience for Orlando is vastly greater than other destinations and is literally built for this. There are about 7-10 great communities that are specifically zoned and planned for STR (actually dozens, but some are just much better). In many other cities the regulations may hamper your plans based on what the city/county/hoa puts in place.

@Daria Berenato I know the STR market quite well here in Orlando. As far as being over saturated, that will depend on what type of property you are looking at. Condos are plentiful and compete with hotels, townhomes are all very similar in size and finishes, so they are difficult to differentiate from one another. Once you get into larger (6-10) bedroom homes, the inventory of those is much lower, so far less competitive than condos and townhomes. You also have the opportunity to separate you're even more by doing special theming, adding a game room in the garage etc. You almost can't go too big.

The demand for all types of units is very high. You can research numbers on airdan.co or just look at the calendars of homes in the communities that you are interested in to see occupancy rates.

Hope this helps. Good luck

Welcome @Mark Laskey. I did what you are about to do when I was 19, just packed up from Ohio and headed to Florida leaving everything I knew behind. Unlike you, I didn't have a job, savings, a real plan and I certainly knew nothing about real estate.

You have a lot going for you already, just stay on your path and don't over analyze every step or you'll be 40 and looking back saying "I wish I would have..." There is lots of information and shiny objects out there, so stay focused and find your circle. I'm in the Orlando/Kissimmee area and can help point you in the right direction for local info, groups etc. Good Luck!!

Hi @Nadia Hale. Some very insightful information is given here. I have sold several home in Championsgate this year, in fact I have one closing today. Spot on about the carpet, roof and a few other things found on every inspection report. Unfortunately, most sellers are not willing to give concessions for these items, so you have to be prepared to have them repaired after closing.

As far as Windsor Hills goes, it has a great online reputation and repeat guests as it is one of the oldest fully amenitized resorts. Most were built in 2004/05 and still outdated with original laminate counters and 12" tile, while savvy ones have updated and themed out the rooms and converted garages into game rooms. The amenities were redone in about 2017 I believe and still stand up to most other resorts. Championsgate has a much larger amenity area and can hold more people, there is also golf there so that's a bonus for attracting guests.

You can check Facebook groups for both communities as owners have private information that they like to share. I can provide first hand experiences that I've had too in both communities if you like.

@Dilip John if it is vacant, am I able to show it? Can you PM me the address and access info, I'd love to take a look at it.

@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!