All Forum Posts by: Shawn McCormick

Hi @John Taboada  I'm more than happy to help you and your employees. Orlando is a great place and I'm sure they'll all love it too. Congrats on the move.  I sent you a message about my company and qualifications. Look forward to connecting.

Hey @Daniel Ocampo Congratulations and welcome to BP. Sounds like you are taking massive action, that's what it takes these days.

You mentioned wanting to network with other investors, I always suggest starting with CFRI. The local chapter of the National REIA. It is a non profit association that focuses on education, resources and networking with LOCAL investors. You will have access to hundreds of other investors, trades, hard money, contractors, wholesalers and even pretty good Realtor or two (me!) I invest here and out of state and have helped many BP'rs to purchase investment homes.

Feel free to reach out anytime, I always enjoy talking thru others strategies and goals. Good Luck out there!

Hi @Carlos Sabatini congrats on getting started in Orlando, it can be a very lucrative market.

What type of property do you have. Some PM's specialize. If it is STR in a vacation community or just a Airbnb in a mixed neighborhood or a long term rental. Also what area are you in, I have several great contacts depending on those factors to make sure you get the right fit.

I would also be happy to be one of your resources in locating properties, I cover all of the Orlando area. Feel free to reach out anytime. Good luck.

Hi @Brenden Vaughan Welcome to Orlando and BP! I live in Clermont, but always on the road all over Orlando, happy to grab a coffee or something sometime to talk about your investing goals, the local market and help you get going.

A good place I always suggest to get started is by joining CFRI, the local chapter of the National REIA. A great place to network, meet people that are actually investing in the area and are always very helpful with insight, knowledge and resources.

Reach out anytime, good luck!

Hi @John Saible Both of those categories are really tight right now. Orlando +50 miles out, only has about 25 or so duplexes for sale at any given time. And many of those are very small (2/1's) or very old or overpriced. If there is anything decent it sells almost immediately.

As for STR, that inventory has really shrunk just in the last couple of weeks, there was a pretty good amount, but so many people are buying whatever they can, it has depleted what was there. The larger 6+ bedrooms still have a fair amount and there is a bit of new construction going on, but overall it is pretty tight too. I have a couple 8 bedrooms under contract and just closed on a townhouse in 3 different STR communities for BP investors. I would be happy to share my opinions and experience with these and talk about your strategy if you like.

Reach out anytime!

Hi @Katie Smucker I have connections with a few of the big wholesalers in the area that do the majority of deals as well as many smaller ones too. Many of the deals coming thru are small homes in rural areas pretty far from the city. Some great areas to keep an eye out for would be Winter Park, Winter Garden, Sodo/Conway(Orlando), anything near downtown (Milk district, Lake Eola, Mills/50 all do fantastic if you can find them.

There really aren't too many areas that I would stay away from within 45 minutes of Orlando, some are a bit riskier in regards to safety, ARV, contractors availability etc. However the way values are rising, those risks get weighted differently. My thought would be turnaround time in those areas, if you are looking at a 4-5 month project and the market shifts or interest rates go up even 1/2 point, those areas will be more likely to be affected. Permitting is taking forever too, so consider that when looking at larger projects to build in money/holding costs.

Consider joining CFRI, the local chapter of the National REIA. It is a great resource for networking with wholesalers, contractors, hard money, title and some pretty great agents too ;)! Let me know if I can help in any way.

Good Luck!

Hi @Nataly Trejo Welcome to Central Florida and BP. Keep reading and listening as much as you can. You are in a very active market where the local investor community has always been very active, people from all over the country look here because of the opportunities and we also get International exposure because of the theme parks. That means lots of competition for you.

Would love to hear more about where you are, where you looking, what types of properties you are interested in (SFR, multi family, STR, mobile homes etc). I would also suggest to join CFRI, the local chapter for the National REIA. Lots of good networking, education, information and access to great trades, lenders, wholesalers and much more.

Reach out if I can be of any help. Good luck!

Hi @Dustin Fike Welcome to BP and REI. We have a pretty active community in Orlando, you have plenty of local resources as well as right here on BP. I would recommend joining CFRI, the local chapter to the National REIA. There are great resources there (although we are meeting online for now). Lots of local investors, agents, wholesalers, trades, lenders etc there to help guide you.

You have a BHAG there, reach for the stars! What are your first steps to move that forward? Do you plan on taking some baby steps on the way or right to the multi family/mixed use? Would love to hear more about your ideas. Reach out if I can be of any help. Good luck.

Hi @Gustavo Lotuffo You managed to pick the top 3 markets in all of Orlando. There is a lot of room for growth due to the amount of land available in Winter Garden and Lake Nona/St. Cloud (not so much in Windermere!). So your idea of appreciation is certainly valid. However, cash flow continues to be a tough get in so many large markets across the country right now for the same reasons. I'm losing offers for my clients left and right even with over ask offers, no contingencies, short inspection periods etc. 

Builders are also slowing things down due to high material costs and availability. Some have gone to even ask buyers for highest and best on new construction!! Others are only releasing a few lots per month to curb the demand.

There are some areas where you can still pick things up fairly readily, but as Tyler mentioned, it will be well outside the Orlando area.

Happy to dive a little deeper into this if you want to jump on a call sometime. Just reach out.

Hi @Jim Williams Welcome, you're in a great place to learn. Also consider joining CFRI, the local chapter of the National REIA. Although it's all online right now, the content and learning is still good. When we start meeting in person again, it will be a great place for you to network with other local investors. In the mean time, let me know if I can add any value to your plan, happy to talk some strategies with you.