Briarcliff Manor, NY · Member since 2015 · 8 posts · 5 votes
Hello BP Community
I am a newbie moving to the Orlando area (Lee Vista area) from NYC in January, seeking to connect with wholesalers, investors, and hard money lenders.
So far, my partner and I have one cash flowing property in Winter Park and are about to close on another SFR this week. I wanted to find out from the group, where do you think is the best place to look in Central Florida for multi family units? There doesn't seem to be a good inventory of them.
Thank you all for taking the time to read this. Looking forward to meeting the members of the Orlando REI community upon my relocation!
- Stephen O. Perez
Welcome to the site! I'm not from Orlando or NYC, but I'm sure someone will chime in soon.
In the meantime be sure to check out the education tab above and consider getting the PLUS or PRO membership. The calculators are pretty sweet and you get unlimited access to them. Makes things go A TON faster.
Investor · Orlando, FL · Member since 2012 · 822 posts · 303 votes
9y
@Stephen Perez welcome. Orlando does not have a great multi family market. If that is your investing strategy you might as well give up now.
But if you want get our wholesale RE deals when they pop up PM me your email addy.... also if you need any form of real estate help whether it be listing,buying,selling, or just a good realtor to help you out, let me know or drop by the blueprint office or website. we are investors helping other investors.
Investor · Bushnell, FL · Member since 2016 · 456 posts · 224 votes
9y
Stephen and orther Orlando BP members.
We are having a first ever meeting of BP Members just to meet and find out what everybody is doing in Real Estate. The meeting will be at Creegan Property Group at 439 Lake Howell Road, Maitland, FL 32751 at 6:30 PM on Sept 28!!
Please let Stephen Anderson know if you plan to attend so he knows how many to expect.
Briarcliff Manor, NY · Member since 2015 · 8 posts · 5 votes
9y
Thank you all for the input. Eddie T. My first rental, we picked it up for 98k, it appraised for 104k. We negotiated 3k at closing from the seller to do some repairs so the house value should be around 107-108k now. We are getting 1150/mo. Our cap rate is at 9%.
We bought the 2nd SFR property in Deltona for 99k, it appraised for 123k. It needs about 12k in repairs. ARV should be about 135k. We are projected to get 1150/mo in rent which put us at 9-10 % cap rate.
@Stephen Perez welcome. Orlando does not have a great multi family market. If that is your investing strategy you might as well give up now.
But if you want get our wholesale RE deals when they pop up PM me your email addy.... also if you need any form of real estate help whether it be listing,buying,selling, or just a good realtor to help you out, let me know or drop by the blueprint office or website. we are investors helping other investors.
Hi Justin I have noticed this about Multi-family in my search for my first Property. Before Orlando I lived in Nashville and there was so much Multi family inventory! This was before I was serious as I am now about REI. In our Market here in Orlando do you recommend to focus on SFR especially for the newbie?