All Forum Posts by: Tyler Gibson

Hello all! 

I am back here searching for a new CPA in the Orlando or central Florida area. I am a real estate agent, real estate investor, and also work in television production. I would need a CPA with experience handling filing for multiple businesses and one who can offer tax planning and strategies. It's a huge plus if they have also worked with clients in the broadcast television industry - not every accountant is familiar with that field and how to strategize write-offs, etc. 

My current CPA got a promotion and is no longer serving in the same role. :( I'm not happy with the new structure that the company has - they are growing to be a big firm giving me less and less access to direct communication with their accounting team. I'm looking to build a business relationship with my CPA, one who I can trust and work well with as I grow my businesses. I'm not opposed to a bigger company but I would like to be able to communicate directly with my CPA and not have a middle man. 

(A few of you have DM'd in the past - I'll be reaching out to you as well!)

Thank you in advance for your recommendations!

-Abby

Thank you Zane for the reply! I've owned my rental SFH for 1.5 years, and noticed my property tax is significantly higher than my neighbors' properties with similar square footage and conditions. I understand they purchased their property bit earlier at a lower price, but the difference shouldn't be so significant. Any recommendations for me with the property tax appeal?

Hi All,

My name is Jesus and I’m eager to get into the real estate realm. I have lived in Orlando, Florida for over a decade. I look forward to network, learn and help as much as possible. 

Respectfully,

Jesus Rodriguez

Hi everyone! I'm looking for a reliable title company/attourney that has experience in assigning contracts or completing double closings in the Central Florida area. Any help with this would be greatly appreciated! 

I have no properties yet - just working a regular job and doing some freelance work on the side. I'd like to start earning some "unearned income" and building wealth. I've read quite a bit and I've watched a ton of videos. I'd like to check and make sure I'm on the right track.

BTW: I make around 80k per year and I live in central Florida.

Here's my strategy:

- I'm currently living with family and reducing spending. Looking to save for a year or two. That should give me about $15k-$25k.

- Buy a multi-family home - I've seen some for as low as $250k, but I'm sure there will be different deals by the time I'm ready to pull the trigger.

- Take out an FHA loan for 3.5%. That's $7,500 on a $250k home which should be much less than my savings. That means I can either have a cash cushion for any renovations or covering some of my mortgage until I get a tenant or get into a property quicker.

- That puts my mortgage at around $1,500. Looking at the comps, I think I can rent it out for $750 - $1,000. That would put me at negative cashflow of -$750. Maybe call it -$1,000 to cover upkeep. Also, even though this is a negative cashflow it's basically what my rent would be. So, I guess I'm paying $1,000 to live in my home to earn equity in my duplex. 

- According to an amortization schedule, it'll take about 10 years to get 20% of equity in the property. Ideally, I'd put more towards my principle faster if I have the cash.

- Once I get 20% equity in the property, use another FHA loan to buy and live in another multi-family property then rent out both sides of my first duplex leading that to positive cash flow.

- Repeat..

Am I on the right track? Basically, take out an FHA loan for a multi-family, get 20% equity as fast as I can, and then do it again.

Hi all! My name is Richard and I'm a new investor located in the Orlando, FL area. Really looking forward to getting to know as many people as I can and growing together. Would love to connect with people from my area if there's anyone on here who's from around me! 

I was wondering what is everyone's set up.

We have the basic things set up such as having a LLC, realtor, and a broker. We went under contract twice but we haven't bought anything yet. Plan is to start with a multifamily house, or a single family with an in-law suite in the back. The challenges we run into is trusting the realtor and the realtor's inspector to fully disclose all the problems with the property...to basically be our eyes and ears. We noticed there were some major problems not brought to our attention until towards the end of the contract where we were under pressure to make a decision.

Since this is all done remotely, how did you set up a reliable system or team to be your eyes and ears from start (property search) to finish (to closing on a deal) and who are they? OR do you actually take a trip to visit all properties then decide? 

We're thinking we'll need a buyer's agent, a lawyer in Tampa, and a inspector to do pre-inspections before we ever decide to put in an offer. What are your thoughts? 

Ideally, we'd like to buy multiple properties this year and do minor cosmetic work if needed but since we're all remote, we can't do any flips. So strategy is buy, rent out rent it out, and sell 3-5 years down the line.

Hey all,

Just got my first house hack in Orlando. I downloaded the FL lease agreements from BP but I am still a little confused and could use some help.

I see a Residential lease agreement Florida containing fee in lieu of security deposit. I see it has an area for fees in lieu and an area for security deposits. Do I just enter N/A the fee section?

Thanks!

Hello everyone,

I hope you're all doing well. I'm reaching out to this community because I find it to be a valuable source of knowledge and insights, especially when it comes to real estate investing.

I've come across a potential real estate investment opportunity recently, and I'm eager to gather some feedback and insights from fellow enthusiasts and professionals in the field.

The property in question is located in Central Florida, in an area that I believe holds significant promise for future growth and appreciation. It's situated on the most prestigious lake in the county, and what's particularly noteworthy is that there are currently no other waterfront properties available on this lake.

As someone with a background in real estate and a passion for investing, I'm excited about the potential of this opportunity. However, I also recognize the value of seeking advice and perspectives from others who may have more experience or different insights to offer.

I'm particularly interested in hearing from individuals who have experience with waterfront properties, investments in the Central Florida region, or any insights on factors that contribute to property appreciation and long-term value.

Additionally, if anyone has tips on structuring partnerships or attracting potential investors for such opportunities, I would greatly appreciate your input.

Please feel free to share your thoughts, experiences, or any advice you may have. I'm grateful for any insights that can help me make a well-informed decision about this potential investment.

Thank you in advance for your time and contributions to the discussion.

Property Key Features:

NO HOA

11%-14% ROI (via Airbnb)

Class B+/A+ Lakefront 

Sits on a double lot 

Immense appreciation growth expected in next 5 years. 

Hello, my spouse and I are looking into new constructions in the Orlando area. We’re first time home buyers and debating on whether to get a realtor or represent ourselves. Figured we could try to negotiate lot premiums, design incentives and closing cost incentives ourself. 

Given FL dual agency laws and the recent NAR, what would this mean as far as commissions? Would we be able to pocket the buyer commission to remedy the final sales price or closing costs?