All Forum Posts by: Samuel Leatherwood

Hello @Fallon Gilbert! What areas of Orlando have you been looking at so far? STRs and LTRs are both great and it ultimately depends on your own personal philosophy and goals. I also lean more toward the LTRs as I prefer to be less involved and more insulated from recessions and discretionary spending. Nonetheless, there are many investors who are doing well with STRs. 

What are your goals? What sort of portfolio do you see yourself having in 5 years? 

I am happy to help and provide any information I can to help with your analysis.

Hello @Huso Akaratovic! I am excited for you to make the potential move to Central Fl. I love it here!

If you want to move and are ready to make that change, I wouldn’t wait around for better times. Economists and realtors can make educated predictions but we never know what’s around the corner. Time in the market is usually better than timing the market. 

As you mentioned, home prices have come off their peak yet current predictions for Central Fl looking more or less flat. Also, there are many institutions predicting rates coming down to the low 5% range by Q4 2023 but there are just as many predicting rates staying more or less flat. Date the rate and marry the house. Programs such as the 2-1 and 3-2-1 buydown can also make housing more affordable by lowering your effective interest rate for the first 2-3 years. 

What neighborhoods are you looking into? 

Samuel Leatherwood

REALTOR

@Mickael Castillo It can be of use to look at these sorts of websites to get a starting point but as someone who lives in Orlando, FL, I can tell you that each neighborhood is different with its own character, vibe, types of houses, and proximity to retail, public spaces, events, restaurants, etc. Many cities in Florida will likely fit your needs as long as you choose a neighborhood that fits your criteria and lifestyle.

It's good to hear about some job growth in the Cape. The largest employers with high paying jobs in SWFL seem to be more in the South Fort Myers & Estero area. Lee Health, Arthrex, Gartner, Hertz, & Chicos. 

Always great insights from @Shawn McCormick!

As @Bob Stevens said, there are some good deals in Cape Coral, depending on the location. Many sections of the Cape Coral metro area (near the River & SW Cape) have had really high appreciation which is great because they returned some of the highest returns out of all US metro areas in 2022. The high appreciation, however, has priced out some investors. North Cape has a much more reasonable price point. 

The other question is whether job growth and migration will be able to sustain Cape Coral's growth over the long run. Something to consider: Cape Coral was one of the hardest hit cities in the 2009 housing crash.

Cape Coral is my hometown <3! Currently living and working in Orlando. 

I am in Orlando and the market for LTRs can be good if you are looking in the right areas. What brings you to FL from Ontario? Safe travels!

Hello @Dominique Rucker, it looks like you received some really great advice. As others said, a small multi-family and/or residential with a detached additional dwelling unit/mother in-law suite could be a great route because that would enable you to scale faster by saving on your mortgage. A single-family home can also be a great investment so long as you are buying a property with a good rent to debt-servicing spread as @Drew C Grossman mentioned. You could also "buy" equity by purchasing a property that needs 20-30k in improvements with an ARV increase of 40-60k.

I find and analyze solid deals every week in Orlando. 

Send me a message anytime if you would like to chat more!

@Melissa Deacon I think it really depends on what your goals are for the next 3-5 or even possibly 10 years. Are you looking for an equity play that will, over time, result in cashflow? Are you looking to add to your cash flow in the near term with less concern over equity/net worth? 

If I had a better sense of your goals, I could provide better guidance. 

Message me anytime if you would like to chat!

Hello @Kim Stricker I am a Realtor in Orlando, Florida. As many people already commented, the MLS is an excellent resource that we use on a daily basis to check comps. What sort of deal are you looking at?

If you are currently using Zillow, the sold price is not always populated and you may want to check the Property Appraiser website, which will give you the recorded sales price and also give you a snapshot of land size, permitted work, permitted square footage, and more. If you are looking in Orange County that site is https://ocpaweb.ocpafl.org/das... 

Send me a message anytime if you have future questions!