All Forum Posts by: Shawn McCormick

@Patricia Baker Glad to hear that is going well for you! Congrats.

I sell quite a few STR/resort home in the Orlando market near Disney. We get over 125 Million visitors a year, the #1 vacation destination in the world. Our market is very strong in this space and we have condos, townhomes and homes up to 14 bedrooms. (the sweet spot is 7-9 beds).

I would love to have a conversation if you are considering Orlando. Reach out anytime and we can talk. 

Hi @Sam Zhang I am a Realtor® here in Orlando and have helped many investors and BP'rs purchase properties here. Our market is beyond crazy, like most of the country, so finding a great property is extremely difficult. I wouldn't advise jumping in just for the sake of getting started.

I would be happy to have a conversation some time to go over some ideas and strategies that might suit you and make sure you are prepared. Feel free to reach out.

Hi @Josh Ward. I have a few of these under contract right now and literally writing an offer up this evening on another. I have sold townhomes, single family and new construction in several of the communities near Disney. Just closed one for another BP member from Utah 2 weeks ago!

Although I have my personal opinions on some individual communities performing better overall, much goes into whether you are profitable or not. There are many variables (location to amenities, age of unit..is it updated, does it have a garage, pool?, themed rooms, game room, how many beds 3,4,or 5) just a few things that matter in a townhome. Since virtually every townhome in a community is almost identical, how will yours stand out? You will be marketing online with photos, so why would they pick yours if all the other townhomes in the community offer the same thing? Do you offer something special, have great themed rooms, a game room in the garage, or does it just come down to price per night?

I would be happy to discuss these items and thoughts on using a property manager is right for you or not. Message me and we can schedule a time to talk. Inventory is very tight right now and it is hard to even book a showing because the units are full all the time with vacationers, but still a great time to buy and take advantage of Disney's 50th celebration and the entire planet is itching to take a vacation and we are the #1 destination in the world.

Look forward to hearing from you, Good Luck

Hi @Julian Simmons Look up FACsold.com I know the owner of this wholesaling business and he is looking to hire someone part time. Call Foster and tell him Shawn McCormick referred you.

Hi @Jack R. to tag the people you want to reach out to, just use the @ symbol and type their name (there may be multiple results, so pick the correct one from the drop down). Or you can simply click on their name and message them directly.

To your point about multi family here, yes there is definitely a shortage of quality units and units in general. There are far more duplexes than quads or tris, they are even more rare. I do see some package deals come up every so often from wholesalers, but generally over priced for location and condition. Good value add properties if you can pick them up at a decent price, usually on the market from someone retiring and never put much into them.

Building costs can vary so widely from county to county, and depending on finishes and if you have garages etc, plan on $140sqft and up. Given the current costs of lumber and many other building supplies, that number is probably much higher. I wouldn't think it would be too lucrative to build right now, especially if you are not local. Land costs are rising as well so altogether, I wouldn't be in a hurry to build.

I have several investors that I work with that would love to do the same thing, as we all know that there is a need and desire for affordable housing and multifamily fits that bill. So if you do move forward, I may be able to find capital and/or local expertise.

Good Luck

Hi @Quentin Branch, welcome to BP and investing. A good place for you to start is by joining a local REIA. I suggest CFRI.net. There are over 1500 members locally in the Central Florida area. I believe we will be meeting in person soon and you will be able to connect to all types of investors, lenders, wholesalers, trades and also have access to tons of local meetings and seminars.

They have the monthly general meeting the first Wednesday of every month(coming up soon) and about 20 other meetings every month for you to learn from and network.

Good luck out there.

@Michael Plante Look up Andrea Aylett-Hosch 
or Joe Seagle.

Hi @Jonathan Avellaneda welcome to the Florida market. I would be happy to interview with you to see if you think I might be a good fit for you in the Orlando market.

Happy to talk anytime.

@Joshua Ryan Lindsay, @Ranjith Marappan I don't have much information on the costs of cleaning (I did my own when I had my STR or paid neighbors). I have sold and have under contract a few homes in some of the better STR communities and can give you some ideas of what's available and pricing for homes. Happy to help with some insight.

@Justin B. Congrats on getting started! I live in Clermont and you are right, we do have a  lack of multifamily! Like Adrian said, you should look into joining CFRI. I've been a member since 2014 and you will meet tons of locals that can help get you going.

As far as building, now isn't a great time as material costs of all types have skyrocketed, along with acquisition costs of the land itself. If you can start looking at lots that are zoned correctly and researching builders so when something comes along you're ready.

I've been seeing a few more than normal duplexes on wholesalers lists locally in the last couple months if you are looking, not much on MLS though. Let me know if I can help at all. Good luck