All Forum Posts by: Shawn McCormick

Hey @Cesar Gomez I would be happy to help you evaluate the property based on the location it is in. Multi family properties are extremely low on inventory right now which has driven up prices. There are a lot of factors that need to be evaluated when considering multi family (Separate meters, age of roof(s), a/c's, what is age of property, could it have poly plumbing, Chinese drywall, federal pacific electric panels,etc. 

Do you have a spreadsheet to evaluate recurring costs, insurance, taxes, vacancy rates, PM costs and so on? Then you have to consider the current rental rates, are they market value, have the tenants been paying during Covid, are they month to month or have leases.

Lots to consider before jumping in, reach out and we can have a conversation some time. Good luck.

Hi @Carrie G. Welcome to BP and the never dull REI world. I have helped several BP members purchase STR and multi-family investment properties and would love the opportunity to see if I would be the right fit for you. Please feel free to reach out anytime!

Good luck and Happy Easter!

Hi @Jay Bickmore I have several depending on area, type of home (cheap investment and need 4 point) or vacation rental, or multi-family, historic etc).

Send me a message and I'll give you a few.

@Christine Zharova that's not really my area of expertise. I tried the traveling nurse route for a bit when I had a couple airbnb's. I didn't have much luck as they always booked, then backed out if they found a better gig or wanted it at too low a rate.

With the market the way it is, as a Realtor®, I'm finding that a lot of people need temporary housing until they close on a purchase. That's always been a 'thing', but seeing more of it lately. I have two sets of buyers in that position. I work with a lot of relocations so they need to start work, but can't find a house or can't wait to start work until the home closes. So that could be an option. A good place to post that would be FB groups, especially geared around Realtors® (Orlando Real Estate Mastermind would be a great one).

Hope this helps. Good luck

@Archie Drake I work a lot in new construction sales. They are very tight right now and some builders won't sell to investors, others are doing 'highest and best', some are requiring you get pre-qualled with their lender in order to be put on list to purchase. 

They are all slowing things down waiting on material costs to go down (mostly lumber). Prices have gone up and their normal incentives like paying for buyers closing costs etc, have gone down or been eliminated. I usually like to put investors in new construction, especially when they get in early in a community because the builder will force the appreciation for you by raising prices every 4-5 units they sell. So you build equity before the community is built out. Plus if they pay your closing costs it helps to make it cash flow. You also 'shouldn't' have cap ex expenses as everything is new are warranted.

I would be happy to talk thru some things with you if you like, just reach out. Good luck!

Hi @Gilvina Stephanie  Welcome to Orlando (almost!). I have lived here twice, once in my early 20's and then came back in my mid 30's and have been here ever since. I have seen all the growth in the real estate market here and have watched many, many people build wealth in real estate. Florida is know for a couple of things...tourism and great real estate.

Orlando has pros and cons depending on what you want out of your investment. We do have a lot of lower paying tourism and hospitality jobs (that is good as a landlord, lots of renters), and lots of investors (good, because many of them are from out of the area and often don't hold them as long), it has tremendous growth (10,000 baby boomers are turning 65 every DAY) and now that people can work from home, more and more are moving here. No state tax, beaches, weather, theme parks...the list is endless.

I would be happy to talk thru your strategies and hesitations on the market here. And would really love to hear where these really cheap houses you are talking about are!!

Reach out anytime!

@Konrad R. and @Dustin Fike Contact Colleen Pacheco at 407-725-3413. Please let her know I sent you.

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.