Opinions on Duplex Flip to Rent in Florida!

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Opinions on Duplex Flip to Rent in Florida!

Valentina Calla
Real Estate Agent · Orlando, FL · Member since 2021 · 65 posts · 53 votes

Hello everyone! I recently got into real estate investing and after some research, I found this duplex in Orlando, FL that my partner and I want to rehab and rent out! I analyzed the property using the handy dandy rental property calculator on this site and came up with a monthly cash flow of $226.15 and cash on cash ROI of 6.39%. I am not sure how accurate my numbers are so feel free to correct any mistakes I have made or give me any suggestions/opinions on the property! Thank you :) https://www.realtor.com/reales...

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Tyler GibsonBusiness Member
Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
5y

@Valentina Calla Do you know Orlando? DO you know this neighborhood? The only way you are going to get market rent here is if you do section 8. This is not the best neighborhood. I am not saying this doesn't have the opportunity but know the area you are investing in. This is one block from the road where you routinely see prostitutes walking up and down. If this is the type if investing you are into then Go for it. Everyone has a strategy and risk tolerance.

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  • Matthew CrivelliBusiness Member
    Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
    5y

    You're sitting on 150k in profit a cash flow of $245 a month, I think you're best to sell, take the cash and start a new project or invest else where. In this market you might get 400k lol 

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  • Alberto Nikodimov
    Property Manager · Orlando, FL · Member since 2020 · 200 posts · 194 votes
    5y

    Hi @Valentina Calla, I saw this property when it first came on the market. I haven't seen it in person but from my experience you should be able to get slightly more in rental income. $1,100+ per unit is very realistic! Than your cashflow goes up to $400+. However, I agree with your approach, it's always better to be conservative when doing your numbers and get more than what you expected. In regards to the ARV, I looked at some comparable properties and I think $350,000 is slightly higher than what I would say. Overall, great rental property! The only thing I would advice is consider hiring a property management company in order to increase rental rates and get qualified tenant. If not for management, at least use a management company for tenant placement and this will increase your cashflow and prevent potential future problems with tenants which haven't been professionally qualified for the home.

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  • Tyler GibsonBusiness Member
    Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
    5y

    @Valentina Calla Do you know Orlando? DO you know this neighborhood? The only way you are going to get market rent here is if you do section 8. This is not the best neighborhood. I am not saying this doesn't have the opportunity but know the area you are investing in. This is one block from the road where you routinely see prostitutes walking up and down. If this is the type if investing you are into then Go for it. Everyone has a strategy and risk tolerance.

    [email protected]407-590-9858
    GPG Team 596 Reviews
    WebsiteView Page
    4Reply
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