All Forum Posts by: Shawn McCormick

@Jonathan Feliciano The Orland market has been quite strong for several years, IMO, new home construction has set the pace for pricing overall. There are literally hundreds of new home communities and when they build those, they set the appraisal value and raise prices everytime they sell about 5-10 homes, so if you buy early, you have a ton of equity by the time the community is built out. They sell so fast that the demand outpaces the retail market. We have seen year over year pricing increases close to double digits for several years. Check out the graphic I attached showing what the current market is doing. Look at the median price..up 9% over last July...and that is during the Pandemic and last summer was great here..we had more inventory, pricing was high and steady. So...."the best time to buy real estate is always..5 years ago". That being said, it would take something enormous to bring the market to its knees again (in Orlando anyhow). But the values of the properties is inflated because so many people are still buying therefore driving them higher. I think we will see a wave of short sales and foreclosures if the unemployment rate stays high, depending on the elections and what turmoil that is bound to bring, the Fed and what they do with interest rates etc...

Hi @Jonathan Feliciano. I am a Realtor and investor in Orlando and can tell you that our market is very tight right now so to answer your question about what has been successful is tricky as a few years ago there were still lots of foreclosures, distressed properties to buy and add value to. We have seen 8-12% appreciation for the last couple years so the equity play is tough and although rents rates are very high, cash flow is not as easy because purchase prices have gone up and the 1% 'rule' is hard to accomplish. 

It also depends on your level of experience and risk tolerance. What works great for some can be too risky for others. We have a very large presence of Hedge Fund buyers, REITS, International buyers, and investors from all over clammering to be in this market and it has been very competitive.

Multi-family properties are hard to find because most investors hold them long term so there is very little turnover. We only have about 35-50 on the market now and most of those are overpriced or in terrible condition. We have a large vacation rental market too, but that is shakey right now as well. Most of the owners of those are from out of state and because Disney is not getting traffic, they are suffering because they depend on Airbnb etc. You might find some deals in that market because they want to dump their properties, but still getting top dollar as I see it so far.

Hope this helps a bit, let me know if I can answer anything else for you.

@Frank DiGiorgio you should expect your realtor to assist you any way they can. If you are specifically looking for off market, yes your agent can filter by many different criteria...type off ownership, years owned, amount of equity, loan balance, out of state or in state owner, even ‘likely to sell' based on algorithms and many others. You said they were great and knew STR, that should be something they are good at.

@Frank DiGiorgio Have your Realtor sort the neighborhood out by your desired criteria and send a letter/postcard to the owners.

Hi @David Armas I am in Orlando and can help you identify some area around Orlando that you may like. $160k will be pretty tough unless you go far out and/or are okay with doing some rehab to bring it up to market value. Expect lower rents if you want to get in a property for $160, cash flow will be very tight.

Happy to discuss, message me if you likel.

@Joseph Whitton Look up Terri Hatfield-Dull. She should be able to help. Financing will depend mostly on the age, also usually has to be a double wide in order to get it financed and obviously on its own land.

@Josean Lopez Sekulits I am a Realtor in Orlando and do some business in the Tampa area. Our MLS covers Tampa so that helps if you want to work both markets. Orlando is a smaller city, but growing very rapidly and lots of opportunity .Tampa is also experiencing growth and is larger, has many lower price point areas and its close to beaches so you have to be willing to work in the condo space. (something I do no want to ever do!).

Happy to talk about my brokerage and what it might be able to offer you.

Hi @Dashiel C Neimark. I am full time Realtor® and investor in the Orlando area, let me know what I can do to help. Good luck

@Felix Perez Thanks for reaching out! I look forward to hearing from you, always great to see someone getting started early, you'll do great!

@Adonis Hernandez Wholesaling is legal in Florida and is done at a very high level by many people/companies. There are legal implications if you do thing incorrectly or unethically. There is plenty of good information out there and I would be happy to connect you to a few wholesalers in Orlando that I work with and/or a mentor that could teach you all about it and the do's/don'ts. Feel free to reach out if I can help. Good luck.