All Forum Posts by: Paul Gilo

@Curtis Yoder

Since your from the area, I know you have things in perspective. Even the SFH we considered were just about in that price range with HOA being 400-500 per quarter (We were looking at Stonebrook West and Westyn Bay), not quite the 350/mo as it would be in Windermere. To get into a home that my wife would be good with is still putting us into high 200s and ultimately monthly costs would be higher than the quoted rent. Not to mention the cost to buy and sell.

You make a valid point about looking every day and especially about buying it right. I check the MLS listing within our criteria almost daily.. very few properties that come through are appealing for the price they are asking. The ones that we did consider sold at or very close to their asking price. So it seems to be very difficult to pick something up at a discount.

Thank you for your comments and time.

@Curtis Yoder- how much of a correction do you think is forthcoming?

Great topic, as I am in Orlando and was considering purchasing a home. 

After viewing a bunch, making some offers and not getting them. I'm kind of coming to a conclusion that is cheaper to rent than to won. Looking at a 1600 rental in Windermere, similar property selling for 290k. How does that make sense?

Here is my post, if you guys care to chime in. :)
https://www.biggerpockets.com/forums/56/topics/278...

@Logan Allec

thats some good number crunching... CPA i see :) 

I guess our markets may be a bit different, but maybe not so much. We are in similar tax brackets... so we probably roughly make about same money at our day job. Where I'm going with this is, is it worth it? Is all the headache worth the few grand you get out of the deal? I am asking this because I would love to do the same thing. If not house hack, because my wife wont want to do that in a 600 dollar unit, but to get a 4 plex and get it to cashflow.  I was going to buy a house for 250k+ but then did the numbers and it looks like renting is cheaper.... so I would like to stick my deposit money into something that will bring me a good return. 

Your thoughts welcome. :) 

Thanks.

Cant you take out a loan on the property at lets say 4% and then carry his note at 6%?

That way you get 80% of the value out, and his 20%, which basically gives you even more funds to flip and he is paying off your loan. 

Just a thought... or am I being too creative? :)

Resurrecting this thread, because I'm in limbo right now... doing the numbers, rent vs buy...

@David Burg- I would love to have break down for me the benefits of buying vs renting, considering my situation.  Here is my breakdown. https://www.biggerpockets.com/forums/56/topics/278...

Thanks!

Thank you.

From what I have seen its all but mortgage expense. I suppose it would vary from property, but taxes, insurance, maintenance, repairs, etc...

@Erin Legler

Baldwing Park looks very nice on google maps. I'm now to Orlando, so I will have to check it out. Any specific streets areas you think I would enjoy? I like walking around and exploring, it seems to be that kind of place.  

What kind of investment/cash flow rentals would you recommend in the Orlando area? Would something that rents for 2-3k per month be just as marketable as something that rents for 1k per month? From what I have seen, the cheaper places are usually easier to cash flow. 

... but yeah... it does seem like everyone is making a compelling argument to rent, instead of buying. I guess my math makes sense. 

Thank you!

dont overextend your self. there is a right time for everything. 

if you dont have money, take the time to learn as much as you can.