Advice on Investing in Orlando

[Ebony Smith]

BP family, 

I'm considering investing in small multifamily in Orlando 3 to 4 units. What are your thoughts on the market? Can you refer turnkey providers?

Thanks!

[Christian Paez]

Hi Ebony, I know from experience, my niece has been trying to find a deal in Orlando, it is very difficult, there is a lot of competition, you are hard pressed to find something lower than $120 sq ft. which makes it difficult to meet the 2% rule. I would suggest checking some surrounding areas, such as Kissimmee, Poinciana.

2% rule = you should be able to rent the property for 2% of the total cost to purchase and make the property rent ready

Purchase = 80k

Rehab = 15k

Overhead cost = 5k

total investment = 100k

2% of 100k = $2000 mo. or close