Want to invest in Orlando FL

4 Replies

Hi,

I am new to this forum and I do believe investing in multi-family to have financial freedom. Currently, I lived in San Francisco which is crazy expensive and no way I want to invest here. I have a rental home in Windermere, FL which covers my payment and little extra I reinvested back into the loan. 

I would appreciated if you can help me answer these questions.

1. Is Orlando a great place to invest in multi-family comparing to the rest of Florida?

2. Which city should I put my money to if I am looking for a nicer or middle class areas or. What you guys think?

3. What is the best place to find great deals. I am currently looking at loopnet.

4. There are few units for sale but in a community properties which consist of association fees and policies. Would you invest in a condominium in a community or private properties?

5. Market is topping as of now, do you still invest in multi-family or wait for pull back?

Thanks in advance,

Sam

How much do you have to invest? What is your experience in managing MF properties? That will determine what you can buy.

Hi Stephen,

Thanks for your feedback. I have like $400k. And I do have a house rented out but managed by someone. I am new to managing MF properties but sure want to invest into it.

Thanks

Sam

Hey Sam 

1) Yes Orlando is a great place to invest, however multi-famlies do not really exist here, single families is the bread & butter for cash flow properties in Central FL

2) Orlando, Sanford, Kissimmee, Apopka, Winter Garden, etc are all good areas for cash flow. Obviously Windermere is very nice and has a lot of curb appear but as I am sure you have noticed, the ROI is quite low there.

3) Best place to find deals?...PM me :) 

4) Yes condos are becoming more & more popular even with the HOA's because the higher rental rates you get for a lower capital outlay washes out the HOA costs from an ROI perspective.

5) The longer you wait, the most it is going to cost you and the lower your ROI will be. The simple fact is prices have been climbing at an average of about 0.75% a month for 3 years now.

There are small MF (duplexes, triplexes, quads) you can buy for that price. You may even buy larger ones if you can negotiate a deal with a small MF owner (less than 30 units). 

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.