I just joined Bigger Pockets and wanted to introduce myself and connect with other investors, agents and wholesalers in the Orlando area! My goal is to purchase at least 10 SFR properties a month in Central FL to flip. What is everyone's favorite areas and neighborhoods?! Let's connect :)
Happy Friday everyone!
- Katie Smucker
Wow @Katie Smucker those are some massive goals. 10 properties a month is huge! If In month 3-4 capital gets tight with some of the earlier flips taking a long time to sell etc, private fix and flip funds may be a good thing to have a pre approval for.
Best of luck with your flips,
Hi @Katie Smucker I have connections with a few of the big wholesalers in the area that do the majority of deals as well as many smaller ones too. Many of the deals coming thru are small homes in rural areas pretty far from the city. Some great areas to keep an eye out for would be Winter Park, Winter Garden, Sodo/Conway(Orlando), anything near downtown (Milk district, Lake Eola, Mills/50 all do fantastic if you can find them.
There really aren't too many areas that I would stay away from within 45 minutes of Orlando, some are a bit riskier in regards to safety, ARV, contractors availability etc. However the way values are rising, those risks get weighted differently. My thought would be turnaround time in those areas, if you are looking at a 4-5 month project and the market shifts or interest rates go up even 1/2 point, those areas will be more likely to be affected. Permitting is taking forever too, so consider that when looking at larger projects to build in money/holding costs.
Consider joining CFRI, the local chapter of the National REIA. It is a great resource for networking with wholesalers, contractors, hard money, title and some pretty great agents too ;)! Let me know if I can help in any way.
I am also looking for flips in that area. Send me a DM for us to connect.