All Forum Posts by: Stewart Vargas-Sosa

Hi Manjunath, A couple things to consider is whether the provider is reputable, has a good track record, and has professional property management teams in place for you. While I do not personally own a vacation rental, I do know of a great project that is currently being finished just two exits away from Disney. PM if interested. Good luck! Stewart

Hi Bryan,

Welcome to BP! Good job on doing your research, if you are going to invest it is critical that you do it right and be informed. As an agent, every day I search for multi-family properties here in Orlando. Good deals are becoming harder to find, however there are still some out there. If you would like I can add you to my multi-family watch list. There is one duplex that I know of right now that looks promising. 

Good luck on your journey!

Stewart

I think it depends on how good the deal is. If it's still a good deal at 11k more than anticipated then why not stay in it. If 11k more really throws off your numbers then obviously walk away. Ideally though, you would ask the seller to bring down the price or try to negotiate the 11k in some way. As to how to avoid in the future, your agent should make sure that what you are buying is properly priced according to the market and area. 

Solid, congrats!

Don Nardone I know of an almost 1% duplex deal in a central area of Orlando if you are interested! It's in good shape too.

Originally posted by @Peter Amico:

@Stewart Vargas-Sosa thanks for the thoughts. Very helpful.

No problem, glad to help. If you are interested in seeing what kind of multi-family deals are listed in the Central Florida area just let me know, I can easily add you to my list. Good luck! 

Hi Peter, 

Welcome to BP! 

I think that the answer to your question depends on what direction you are comfortable going in and where your risk tolerance is at. 

You mention that you want to scale up to 100k quickly, so to me it sounds like slowly growing your 3/2 SFR portfolio's in Orlando may not be the most direct way to achieving this goal. That's not to say that SFR's won't get you there, because they eventually will. But if you want to get there faster you may want to consider those multi-family opportunities that you say you are also interested in, as those will likely get you a better return because of the increase in units. The con here would be that you are not as familiar with multi's as you are with SFR's, and management may or may not be more of a challenge than your SFRs. Again this all goes back to your comfort level and risk tolerance.

Personally, I would probably acquire one or two SFR here in Orlando and then be on the lookout for any good mutli-family opportunities. I think this would be a good way to diversify and slowly get into the multi-family game while at the same time acquiring more units than if you only were to get 5 SFRs. This would probably put you on a faster track to your 100k goal.

This is all just my opinion of course! 

Hello Niieman Arnold You have a contact here in Orlando if you ever need one! Good luck on your journey!

I have three words for you: podcasts, podcasts, podcasts!

A defeasible fee is not likely to show up on a traditional sale because a buyer wouldn't want the seller to retain a future interest in the property. It's more used for conveyances within family or to charitable organizations, etc., so as to preserve the grantor's intent of what the property is to be used for. So, for example, if you want to donate land to a church you can do so on the condition that the church will only use the land for religious purposes, and if they don't then the land goes back to you. More or less, of course. There's also different kinds of defeasible fees but that goes beyond the scope of this post.