I'm a buy and hold investor from Portland, Oregon. I'm looking for my first rental and one of the markets I'm looking to target is the Orlando area for buy and hold properties. My first few properties would ideally need light cosmetic rehab as I'm not looking to take on large rehab projects while I'm out of state and still building my team.
I'm interested in SFR's and Small Multifamily 2-4 units under 200k. Primarily Lower crime areas with decent demand for rentals, ideally C+ and above neighborhoods with no HOA fees. I'll be financing the first few properties with Conventional mortgages. I'm interested in Orlando for the appreciation aspect but I mostly care about Cash Flow.
I'm currently doing a lot of research about the areas but would like to network with people who have boots on the ground. Just looking to learn as much as possible about the local area and what areas to avoid etc.
@Stephen Burden your buy box is extremely challenging and very competitive. I would not expect to find any 2-4 unit properties under 200k in a C+ neighborhood. This criteria may be found in Lakeland which is about an hour to an hour and 15 minutes from Orlando.
Lakeland is a great place to invest for cash flow. I know. We live here. The market is presently pretty tight. You just need to be ready to jump in fast when you find a deal you like. I just spoke with an investor this morning who wants us to list her rental. If you're more so looking for appreciation, then you may want to think about another location. For us, Buy and Hold is more about cash flow. :-)
Good luck! OOS investing is awesome. I'm in Tualatin and I agree, the returns are too great not to. You'll want to lean on your agent and PM for advice on specific neighborhoods.