All Forum Posts by: Marty G.

Hi Michael, Agreed. The realtors that I have worked with in the past (before BP as I'm just beginning to network now) were very pressure minded in terms of buying something now and not taking into account my situation. While we all would love to sign on the dotted line and buy immediately, due diligence is definitely most important so that we are building portfolios but also being comfortable with the relationships we are building as well. Thank you!!

Hi group, Here's a question I'm posing to the group. Currently looking to relocate to Orlando area. I have a few 3 families that are in my home of CT. Here's the dilemma. Since I don't know the area in Orlando very well, I have a job that allows me to call anywhere home and the Orlando area is a place that I'd like to invest in due to its proximity to parks and a potential job offer for my significant other. What I was wondering is, does it make fiscal sense to perhaps buy a house in a vacation area, use it as my own house? During this time we can decide if we like the area, while searching for other areas (perhaps less touristy) and if so, purchase an additional home in a traditional residential area and use the "vacation" home as a rental? My rationale is that if we don't like the area/job/etc, I still have a vacation rental I can use to generate some income while we decide the next area to claim as the primary residence. I also have the flexibility of purchasing more properties in CT, which I know better, and skipping the vacation market altogether in FL and sticking to just residential non vacation rentals in Orlando. The cons of this are that many residential neighborhoods don't allow for rentals, so if we tried these areas and decided it wasn't for us, we would then sell as a traditional home as opposed to a renting it as long term rental or vacation home. I also realize I could rent for a period of time and evaluate but again, then I'm paying someone else's mortgage that could ultimately working towards my own. Any suggestions? PS - the jobs that my girlfriend would be offered would be at the parks, while I have the flexibility of working from anywhere, which is why I wanted something close to the parks (for her commute). Thanks! Marty

Hi group, Here's a question I'm posing to the group. Currently looking to relocate to Orlando area. I have a few 3 families that are in my home of CT. Here's the dilemma. Since I don't know the area in Orlando very well, I have a job that allows me to call anywhere home and the Orlando area is a place that I'd like to invest in due to its proximity to parks and a potential job offer for my significant other. What I was wondering is, does it make fiscal sense to perhaps buy a house in a vacation area, use it as my own house? During this time we can decide if we like the area, while searching for other areas (perhaps less touristy) and if so, purchase an additional home in a traditional residential area and use the "vacation" home as a rental? My rationale is that if we don't like the area/job/etc, I still have a vacation rental I can use to generate some income while we decide the next area to claim as the primary residence. I also have the flexibility of purchasing more properties in CT, which I know better, and skipping the vacation market altogether in FL and sticking to just residential non vacation rentals in Orlando. The cons of this are that many residential neighborhoods don't allow for rentals, so if we tried these areas and decided it wasn't for us, we would then sell as a traditional home as opposed to a renting it as long term rental or vacation home. I also realize I could rent for a period of time and evaluate but again, then I'm paying someone else's mortgage that could ultimately working towards my own. Any suggestions? PS - the jobs that my girlfriend would be offered would be at the parks, while I have the flexibility of working from anywhere, which is why I wanted something close to the parks (for her commute). Thanks! Marty

Jacob Reilly would love to go but will be out of town. In the shoreline area but would love to network and help build a team. Just followed the discussion .. Thanks! (I'm new here)

Hey Keith.. Sounds good!  Do you have other recommendations aside from vacation rentals?  

Hi all! I currently reside in CT and am anticipating a move to the Orlando, FL. I have two 3-family rentals in CT and trying to decide where I will settle. Been in CT all my life but wanting to head to FL (specifically Orlando). Moving forward, I don't know if I should build my portfolio in CT or FL. I am jealous when I read so many having so much financial freedom. Basically, I have been saving money to purchase the property and renting an apartment myself. I've been really disappointed with the guidance I've received from the realtors in Orlando. They can't provide the numbers in terms of what rents go for, let alone know what to "suggest". Some say vacation rentals, some day long term, yet none can back up with property managements, returns, etc. I always feel like I'm being upsold or just given bad info. It's been a struggle. I wish I had the funds to just say "buy it all!" but I don't, and frankly don't understand how people have the money (or work with lenders) to get their portfolios moving forward. My personal comfort level is buy and hold rather than flipping. If anyone wouldn't mind sharing some tips, advice, or just general steer me into the right direction, I would love it. I have a ton of questions but it's been hard to find reliable information for me so I'm all ears and thank this community for existing. I don't come from money at all and didn't study business, so I'm trying to continue working towards my goals (basically having a decent income to live off without the need of working full time). Thanks in advance!