Orlando area investing

13 Replies

just want to start out saying sorry if this is the wrong forum but I'm looking to buy my first rental here shortly but being new to the area I had question for one of the local orlando investors. I know the John young oak ridge area of orlando is a bit seedy but as a first time low cost purchase and if the numbers make sense would you consider it? What rating would you give this area a C or D or F ? Any advice would be helpful thank you in advance

@James Roux  My investors love that area for the low purchase price and excellent returns.  Something to remember is you are not living there, you are only collecting the rent, watching the equity grow, and still have money in your pocket to buy more.  They sell fast and rent even faster.  Best of Luck!

@James Roux

Hey James! Very exciting yet scary thing buying your first rental. I am with an investor friendly title company here in central Florida and can introduce you to some awesome people that can help guide you or answer questions that you have for that area. Shoot me an email if you want to talk.

Good luck!

@Dan Oliver thank you for that perspective. I was just over in that area yesterday and I need to remember exactly what you said. I'm in that phase as a new investor of removing myself from the equation (me not living there) and doing what makes sense from an investment perspective.

@James Roux I'm new too. Welcome to Team Newbie. :) Seriously, I am always looking to get acquainted with others as I move ahead in my real estate investing journey. I'd love to get together and chat some time.  

@Ryan Kopczyk while I've already found one, you can't have too many. I'd love that information too. And also to know when you guys are doing the next meetup.

@Adrienne G. That information is also useful when you are doing your rehab.  Rehab it only to rent it for top dollar or rehab for flips in the same fashion.  Don't over rehab to meet your style or taste.  A great meetup that I and my company attend is GOREIA.  It meets once a month.  Check it out.  I hope to see you there!

@James Roux

Hi, James. I work for a local real estate company that manages over 700 properites. The main areas that we have properties are the pine hills area, deltona, and poinciana. Your low end areas are going to give you the best returns but maybe hard sometimes to chase down rent. If you like the price and return, look into doing a section 8 tenant. It can be a pain but at least you are getting a majority of the money if not all every month. We also have turn key rentals for sale if you want instant cash flow. Good luck!

@Dan Oliver thanks for the reply dan but I am actually looking to live there that's why I was concerned about how decent the area was I am willing to take a temporary hit in my living standards to start investing in myself. 

@James Roux and @Ryan Kopczyk ,

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Raymond

@Dan Oliver I plan on attending the next GOREIA meeting so we will definitely meet. And yes, I'm learning that. The tv shows make it glitzy and glamorous, but what I'm learning is function and form for rehabs and rentals. It's OK to make changes but not to get crazy or over improve the property. I'm learning. :)

@Ryan Kopczyk  a title company I'm considering using. Absolute Title.

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@Adrienne G  I see will you on the 25th at the meeting!

@James Roux If you're going to live there, you might want to take another look at it.  I'm not saying anything negative about the area, but if YOU want to live anywhere, just scope out the area really well.  Pull up crime statistics, etc

Originally posted by @Dan Oliver :

@James Roux  My investors love that area for the low purchase price and excellent returns.  Something to remember is you are not living there, you are only collecting the rent, watching the equity grow, and still have money in your pocket to buy more.  They sell fast and rent even faster.  Best of Luck!

 Hi Dan, I am just starting to invest in Real Estate in the Orlando area, and plan to do a few wholesale deals to start. Do you have any closing companies or title companies to suggest?

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