All Forum Posts by: Shawn McCormick

Hi @Frank Vanegas. I live in Clermont and depending on where you are looking $200 will be pretty tough to find at all. Rents for long term have been steadily increasing for years here, but you're right, they do top out at some point. Cash flowing in the type of market we have is extremely difficult, especially with such a small down payment. 

I don't agree with your lender that you have to live in the property if you are using a conventional loan, but depends on what product they are giving you, maybe a work around for that.

I would not purchase based solely on what income you can derive from STR. That market is recovering, but with covid still taking a stranglehold on the Country and tourism, you need to have the numbers work as a long term rental also. We are experiencing fantastic appreciation here, but most investors want cash flow or both and this isn't the right market for that if you are new(er).

I am a full time Realtor® and investor in this area so I would be happy to help navigate this with you if you need some help. Reach out anytime.

Hi @Levon S.. Let me know if I can help out. I am a full time Realtor® and investor in Orlando, I've helped out a few other BP'rs to purchase homes here. I have contacts and colleagues in the areas that you mentioned and would be happy to assist if I can. Reach out anytime.

@Rongsu Qi you need to get in touch with George Philbeck with EXP in Orlando. He THE person in this market that has a fantastic grip on all thing real estate and is very well connected all the way to the top with EXP. Let him know I sent you!

@Katty Espinoza finding a property like what you mentioned is going to be tough for that price and little to no chance that you can find one that close to Disney with no HOA. HOA's are virtually everywhere. What is your objection to having an HOA? I have a seller in a STR community that will be selling in June for that price point, maybe 15 minutes out. Maybe I can help you in your search if you like. I am a full time Realtor® and would be happy to assist you.

Feel free to reach out anytime if I can help answer some questions.

Hi @Sambit Sharma I live in Clermont and am a full time Realtor® and investor. When you get here, let me know and we can talk about different areas and your plans.

Hi @Wayne Wollesen look up PCS title in Orlando. Joe Seagle is awesome at all things REI.

@Paul Ferrara, @Lamont Chen is correct. In our market at least we see this as a great way to get into a property without using your cash or credit. You are arbitraging the property to make money with much less risk. Say the got a great rental rate of $1500/mo. for signing long term lease and can get $4000 thru airbnb, even after paying back their 100k loan, they are still profiting nicely.

That being said, I don't agree with such a large layout of cash to renovate, although they may get more per night/week thru airbnb, there is substantial risk in the long term for this. I'm in Olando and most areas have put in restrictions on STR and other cities are sure to follow given they are all focused on collecting taxes from hosts. So to sign a 10 year lease that could be shut down by the city at almost anytime seems a bit short sighted.

Hi @Aaron Haniff, welcome to BP! I am a full time Realtor® and investor in Orlando. I would be happy to discuss our market and whats going on here right now. Our inventory is extremely low (about 2 months worth), so deals are difficult to find and you have to be careful. That being said, we are outpacing sales over this time last year as many are fleeing crowded cities and high taxes etc, so lots of competition from retail buyers and investors that find Orlando attractive. 

Let me know if I can be of any help, just message me if you would like to chat. Good Luck!

@Kim Robinson Windsor Hills is a pretty sought after community for investors looking to be close to Disney with a premier community. The people that purchase in there generally know what they have and hold on for their price, I have made many offers on behalf of clients and the sellers just typically aren't motivated and that keeps the pricing pretty stable. The occupancy rates are higher than many other nearby communities because they have a  good inventory, amenities and proximity to the parks and the reputation keeps people coming back. I did have a client purchase in there just before The pandemic started and they completely redid the decor and theme. They have experienced good returns throughout the Summer. 

If there are some homes you are serious about, I can get us on a call with a couple of the property managers in there that offer some guarantees on occupancy. Happy to help so reach out anytime.

Hi @R. Wade Williams. If you are still in need of some help/guideance on where to look or even get started, please reach out. I would be happy to discuss some good options with you and see what we can come up with. I am a full time Realtor® and investor in Orlando.