Looking for 3 bed 2 bath SFR or Condo in Orlando/Davenport Florida area

1 Reply

Looking to purchase soon.

Have renters (friends of the family) moving to FL and are in need of a rental.

I am looking to purchase my first investment property---Timing seems right.

Seems to be a TON of short sales and foreclosures....not sure if that is a wise move on the first deal or not.....

Any advice, leads, ideas, etc are most welcome!!

Originally posted by @Michael Roberts :

Looking to purchase soon.

Have renters (friends of the family) moving to FL and are in need of a rental.

I am looking to purchase my first investment property---Timing seems right.

Seems to be a TON of short sales and foreclosures....not sure if that is a wise move on the first deal or not.....

Any advice, leads, ideas, etc are most welcome!!

Short sales are ok if you aren't on a specific timeframe. You can get good deals on short sales if the negotiator is skilled. 

Foreclosures can produce good deals as well. The best deals on foreclosures require some renovation. 

Davenport is quite a bit South of Orlando proper and has different market characteristics. If you are purchasing rental in Davenport make sure the property can support the rental rate that you need to be cashflow positive. If you have to get a new tenant this is important. There are many nice homes for sale that would earn a well as short term rentals but have a harder time maintaining a good return as a long term rental.

Lastly, when looking at condos and townhomes pay close attention to the condo fees and the financial status of the condo association.

There is a rental analysis sheet in the Bigger Pockets file download section http://www.biggerpockets.com/files that would a good start with analysing the numbers on target properties. 

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