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All Forum Posts by: Tyler Gibson

Tyler Gibson has started 28 posts and replied 1227 times.

Post: Looking to connect with professionals

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Alex Pivchin:

Hello. New in the business. Looking for same active and goal oriented people. Wisdom sharing is highly appreciated. Would love to team up and increase value of such cooperation. One head is good, more heads is a considerable force :) thank you 

What part of the business are you in? How can we help?

Post: How many lenders(brokers) do you contact?

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Sejin Kim:

Hello, my husband and I are considering buying our 2nd property as 2nd house or vacation home in Orland, Florida.

We are currently in CA.  For our first step, we are trying to find good lenders. I contacted several but not everyone didn't answer the phone.

So, my question is, how many lenders do you contact? Maybe 3 lenders will be enough? One of the brokers whom I spoke with today recommended not to contact other lenders, because it will affect our credit and anyways everyone will do the same job but he will do better.-.- 

I have one lender in CA which is my primary residency and I contacted several in Orland,FL since we are buying property in Fl. 

Do you think it is a good idea to have a lender from the state you want to purchase? 

I will really appreciate any advice! Thank you :)


 I don't think you necessarily need to have a lender in the state we are going to be buying, but you do need to have a lender that is familiar with that state and what financing options are going to be available as well as what things may affect their loan like the cost of insurance. I have some great lenders here in Florida that I would be happy to get you connected with. One of them in particular has access to all of the conventional loan products you would expect as well as non-conventional and hard money.

Post: New Investor seeking to educate myself, build a strong network and invest in real est

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Andrew Wilson:

Hello everyone I'm a new investor I am educating myself, I will build a great network and take progressive action to be very successful in real estate investing.

Welcome! This post is a great way to start. I would highly suggest that you also get involved in local real estate meetups. Building relationships and getting connected to the local investor Network will help you grow.

Post: Canadians investing in US - Toronto

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Alejandro Martinez:

Hello community! I'm Alejandro and me and my wife are doing our research to start investing in the US. So far, we have shortlisted Columbus, Orlando, Indiana, Vegas and Rochester.

we live in Toronto and we really would like to connect with people like us who already started their journey to know about their experiences and insights of investing in the US! 

We are open to meeting over a coffee, DMs, etc.

Have a great day!


I'm not a Canadian. But I live and work here in Orlando. I have helped Canadians purchase real estate here in the past. I also own some long-term rentals and a short-term rental. What questions can I help answer for you?

Post: need guidance please help

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Dre Renfroe:

What is the best strategy to use in Orlando when first starting out? Fix and flip, wholesale, buy and hold? Looking to build a portfolio and need someone I can trust/partner up with

I don't know that there's one size fits all best way to start. It really depends on a number of factors. You essentially have three things around real estate investing; Knowledge, money, and time. In most cases you need two out of three of these in order to start investing in real estate. If you have knowledge and time, you can use your time and knowledge to go find deals. If you have knowledge and money you can oftentimes leverage somebody else's time to go find deals. If you have money and time well then you can really pour gasoline on your portfolio. Most people when first starting out only have one of the three. You'll want to find a partner that has one or both of the other components that you're looking for.

The other things you can do to get started right away is get involved in the local Real Estate investor community. Here in Orlando, there are multiple Real Estate investor meetups that happen on a monthly basis. Consider joining one of these groups or attending these meetings so that you can get to know other people and potentially find a future business partner if you need one.

Post: Urgent Help Needed: Turning Around a Struggling Disney Area Investment Property

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Maxwell Banton:

Hello everyone, I'm in need of some guidance. I bought a 5-bedroom, 3-bathroom property in Orlando near Disney World for short-term rentals. It's been a year, and contrary to my initial profit projections, I've been consistently losing money. Considering long-term rental as a better option, I listed the property, but after three months on the market and only receiving low offers, I'm reevaluating. This investment has increasingly felt like a financial burden. I'm contemplating making updates to the property but am uncertain about the return on investment (ROI) I would receive. I'd greatly appreciate any advice or insights from anyone who has navigated a similar situation. Below is my Airbnb link I am open to all recommendations!

https://www.airbnb.com.sg/rooms/792049658049677604?guests=1&...


 If you want this property to perform at a higher level, you will need to definitely update the property. I don't know if the juice would be worth the squeeze. What community is this property located in? As somebody that has helped multiple investors purchase here in the Disney area, I always suggest that that investors buy in the top-tier resort style communities. The amenities that these communities have is additional marketing material for your listing and it can help drive a higher average nightly rate. You likely need to replace much of the furniture in the home to give it more of a modern feel. I always suggest to investors that they need to have consistent design throughout the home. Think Marriott hotel. In addition to That, a few of the bedrooms need to be themed out with some sort of theme from the local attractions. It's not enough just to put a Mickey mouse sticker on the wall or a frozen duvet on the single bed. Hosts need to do something more unique. Some people have custom-built bunk, bunk beds or LED track lighting or combination of all these things. You could spend upwards to $60,000 just on the theming and depending on what the highest nightly rate is for your neighborhood, it might not be worth it.

Post: New Investors Interested in the Tampa FL Market

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Savannah Walbert:

Hello! My fiancée and I recently made our first post here and after gaining some great advice we have refined our goals and our now looking for more specific guidance. 
We are aspiring investors looking to start our real estate journey in 2024. We live in Los Angeles, both are self employed 1099 independent contractors, combined annual income roughly 250k pre-tax. About 100k cash saved in the bank.

We have a job opportunity that would put us in Tampa, FL about 4 months out of the year total (non-consecutively), and we are curious as to whether the Tampa market or nearby markets could be a good fit for us.

We initially have been looking at out of state options (MI, OH, NC, etc) since our local market in Los Angeles is so ridiculously expensive. However, with this opportunity to actually be in Tampa in person we are hoping we can find a market near there that we can make work for us, since being able to visit the home in person will give us an advantage over trying to set up a team and systems without ever really spending time in the market we are investing in.

For us, long term equity growth and appreciation are top priorities, since we don’t really need a few hundred a month in cash flow with our current income. Eventually yes of course we want to use our real estate investments to retire as young as possible, but what I’m saying is we don’t need immediate huge cashflows in the first few years, and we will happily sacrifice short term cash flow for long term appreciation.

All that said, is Tampa FL or any surrounding area a good market for our budget and goals? Hoping to put no more than 60k cash into the first deal (ideally less), and looking for the strongest appreciating market possible.

Thanks in advance!

Tampa and the surrounding area may be a fine market for you. Larger cities like Tampa and Orlando are more equity markets now so investor who are purchasing off the MLS should not expect to find cash flow in the first year or two but based off of historical performances of property value growth in these two cities should have decent equity growth. With $60,000 for a down payment and closing costs that puts you at a purchase price around $250,000 which may be challenging to find in the Tampa area. Are you looking to buy a single family or A multifamily? If looking for a multifamily, you will need to increase your budget to at least 300 to $350,000. Areas not far away from Tampa like Ocala or Lakeland might be other areas of interest, although it would result in a decent commute if you had to be in Tampa for meetings.

Post: any good "secondary" real estate rental markets to look at in FL?

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Allen Zhu:

most people love the south Florida  area most investors and realtors always recommend jax , mia , tampa. any other smaller non saturated markets?

Thanks , 

Allen. 


 Our team has been focused on areas that are developing, such as Lake County, Florida, which is within an hour of Orlando and is a growing family area where commuters to Orlando live. Lots of new construction that, if trends continue, should appreciate well. The main issue is that rental rates on the new construction make it challenging to cash flow much, if any, in the first 3 years. New construction has the benefit of having very low cap ex, if any, in the first 10 years. Here is a link to a data site that shows a 5% population growth in 2021. https://datausa.io/profile/geo/lake-county-fl

I am a big fan of Polk County, FL, between Tampa and Orlando.  This county has seen huge population growth in the last four years. It is almost smack dab in the middle of Florida and has access to two major airports within an hour's drive (On a good day in light traffic. Expect slowdowns every day around Disney between 8:00 am and 11:00 pm). The Brightline project may provide a commuter option in the future (https://www.fox13news.com/news/sun-rail-florida-transportati...). The Central Location of Lakeland makes it ideal for shipping logistics, and the local airport expanded the runway to allow larger cargo aircraft. This will bring more logistical operations to the area. With the future plans of vertical takeoff personal aircraft taxis, coming to Central Florida (https://tavistockdevelopment.com/project/lilium-lake-nona-ve...) would further expand growth. I believe that with recent advances in AI, computing, and drone technology, Polk County will continue to grow as a logistical hub and will need staff to support that effort. That staff will need housing. Communities need a strong healthcare system to grow, and Polk County has a level 1 trauma center. Check out some data about Polk County here https://datausa.io/profile/geo/polk-county-fl you can see it's position on the map. I believe there are more areas in Florida that have opportunities, but these are the ones I am aware of. 

Marion County has similar characteristics to Polk but is slightly farther away. Check out the data here https://datausa.io/profile/geo/marion-county-fl.

Post: Has Anyone Recently Purchased/Started an AIRBNB in Kissimmee, Florida

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Kenneth Linkous:

If so, were there any resources you found useful with respect to zoning, permitting, licensing in Kissimmee?  Including transfering of permitting or licensing from current owner to prospective owner?

Best thing to do is get connected with a local short-term rental property manager. They're going to be able to answer all the questions that you have. I see that you're a real estate agent, so if you're inquiring on behalf of your clients, you'll want to build a partnership with somebody that's doing short-term rental property management to provide them as a resource to your clients. I have a couple of great references I can get you connected with if that would be helpful.

Post: Looking for a property manager

Tyler Gibson
Posted
  • Real Estate Agent
  • Orlando, FL
  • Posts 1,349
  • Votes 2,114
Quote from @Brandon Cochran:

I'm closing on a property that I'm going to refinance into a buy and hold after some repairs in the Melbourne/Palm Bay area. Not too far from Orlando. 

I'm looking for any recommendations for a property manager who serves that area. 

Thank you in advance!


 I know a great property manager that covers the area. I'll shoot you a DM so that I can get you connected with them.