All Forum Posts by: Shawn McCormick

Hi @Brandon Combs I am a full time Realtor in Orlando, would be happy to connect and see if I can help you get started.

Message me and we can schedule a call.

Hi @Tori Lowenstein. There are plenty of STR communities around that are zoned correctly for that use and many others that are suited for both short and long term in case you want a second exit strategy. As Alice mentioned Orlando has heavy restrictions that would keep you from doing STR unless you live in the property. So Davenport, Kissimmee, Clermont would be your best bets.

Another option could be going close to UCF and doing student housing and renting by the room. That provides better income than a long term rental, great appreciation and if that doesn't wind up working, you could still go long term or sell to the open market (investors or families).

Hope that helps, let me know if I can help in any other way. Good luck!

@Christine Zharova message me and I can give you info on a great guy that is an expert in this area.

@Sneha Patel Campanella Reunion is still building homes which continue to help built appreciation in the existing homes. Many of the sellers are foreign investors and were looking to park money for awhile so you can still get some pretty good properties.

Speaking with a PM that deals with these units would favor you in learning what types of units perform better(single family, condos , villas) having the membership will have some advantages as many do not offer that to guests so less competitive. I can put you in touch with one that I work with to help run numbers with you. 

Reunion also offers fantastic amenities like the water park . Restaurants and shuttles to the theme parks. And they do an amazing job with marketing to the International market in several languages too.
let me know and I can provide a list of available units, days on market, price points etc.

Hi @Tim Burl. Cash flow is on everyone's mind but it has been tough finding those deals in Orlando, not impossible though. Much better opportunity to achieve equity thru appreciation pretty quickly if you buy right. New construction is always a great place to get that, but inventory levels are low there also, depending on location and budget.

Message me and we can set up a call to discuss your budget and goals to see if there is anything out there that makes sense. Hopefully I can add some value to your search!

Hi @Evelina Khaimova Seems you have some decisions to make, those are very different markets. One place to start might be airdna to look at occupancy rates, rental rates, # of units available, seasonality and compare the two to see what might bring the best return.

IMO, if you are doing OOS on a short term rental, you are going to have a PM in place anyhow doing all the work on the ground, so a drive or plane ride doesn't matter too much. Do you plan to use it personally, if so, where would you want to be and what times of the year can you get away. (will you be wanting to use the unit during high season and take money out of your own pocket?).

I'm in Orlando, so a bit biased here, but we have a good amount of inventory in the vacation rental market and some new communities coming up still. I would be happy to talk about our market and pros/cons if you like. Reach out and let me know if you'd like to schedule a call.

Good luck!

Hi @Roxy An. It's honestly hard to find anywhere near Orlando that the rental market isn't continuing to get better. Covid and layoffs from large employers have forced many homeowners back in the rental market and will continue to do so as forbearances and loan mods come to fruition. Also, as you mentioned, with so many people moving here and wanting new construction that doesn't have any inventory, they decide to rent. If you want a high-demand rental area, it will decidedly be in an HOA also, so would love to know why that is important. Ideally, HOA's help protect your investment and many are quite affordable contrary to what so many believe, you have to look into what amenities they offer and how they are managed.

Our market is driven heavily on tourism and hospitality jobs which tend to be lower paying. That alone will keep our rental market strong. That being said, cash flowing properties are much harder to find even with market rents at an all time high. You can achieve equity and appreciation pretty easily anywhere, but cash flow is not a benefit that Orlando is providing so much. 

I could dive much deeper into some ideas if you would like to chat sometime. Message me and we can schedule a call if you like.

@Julie Sisnroy if you are referring to Oviedo, there is very little on the market there under $300. I just did a quick search and I see 6 homes. So although it is a great area, just like anything close to Orlando the inventory is very low.

You asked 'is there anywhere left in Orlando', what are you looking for, there certainly are opportunities. They get better the farther out you go, but those come with different risks and adjustments in your strategy. You mentioned Poinciana, there is activity there but it just never took off after the bigger builders left years ago. Now it is a lot of local builders and smaller investors doing projects. I would suggest researching the area using city-data .com, trulia etc to look at stats on employment, crime, growth, median income etc.

I am happy to set up a call with you to talk more about the market here, just message me and we can set something up.

Thanks @Craig Tinervin

@Tesho Akindele Thanks! Yes, made a great return on this deal and absolutely making sure you have great relationships with all parties is key. For me, deals have to be the best solution for the seller or I work out something different. I usually make 2 or three different types of offers that work for me, but if they don't work for the seller, than we figure something else out. Having key people on your team is another big factor, no matter if you do one deal a year or 4 a month, you have to rely on other peoples expertise and time to get to the finish line and taking care of them is very important.