Out of state investor looking to network with investors familiar with the Kissimee Florida market.
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Why did you choose Kissimmee? I am living here again and I'm just curious what made you decide on here... it has a pretty good market for both rentals and flips... but it's a competitive market right now. What are you interested in doing exactly? Let me know how I can be of service.
@Nathan G. Thank you!
Thank you for reaching out! I came across the Kissimee market when I was scrolling through comments on a YouTube video researching what markets to look deeper into. After just looking at some properties, I noticed some properties exceed the 1% rule by a lot which peaked my interest even more. Properties selling for $60,0000 and renting for $1,500 (too good to be true?). I’m still doing more research into the market in terms of growth.
I would really appreciate your opinion on which areas you think are good investments for long term holds, and which areas to avoid. What are some things to look out for being an out of state investor. Any factors that could greatly affect cashflow. I’m looking to buy and hold for passive income as well as slowly build some equity.
I’d love to hear some personal or non personal investing experiences in this market. Experiences with property managers, realtors, wholesalers, and contractors.
I appreciate you reaching out again! If there’s anyway I can help you, I’d love to return the favor.
I really appreciate you reaching out! I haven’t don’t much research on the market in Tampa Bay, but I’m definitely not opposed to learning more about it. The reason I chose Kissimee is because I’m assuming the properties are cheaper.
I'm looking for buy and hold rental properties. I don't have much personal capital to invest, which is why I was so interested in Kissimee assuming its a cheaper market. I found some properties on the MLS in Kissimee that were around $60,0000 and renting for around $1,500. In terms of cashflow and the 1% rule, that sounds like an amazing deal. I know that's just part of the picture, so I'd like your input. Are there more any large expenses I should be concerned about? Can you share some markets that either you, or someone you know, is having success in? And which markets to avoid. What are some major headaches and conflicts investors in the area face.
I thank you for reaching out again! If there’s anyway I can help you and accomplish your goals, I’d love to return the favor.
@Chris Diaz If your finding $60,000 deals in Kissimmee, just beware the neighborhood that those properties are in. Also when you say you don't have much capital, if your an OOS investor then it is even more highly recommended that you reach out to a local property manager to inquire about the area your looking into and how they manage their properties. I have several capital investors from CA that tried to invest in rentals in Jacksonville, because the prices were like what you described... they almost lost their shirt because the area was rampant with crime. Had their condenser stolen three times, (twice during renovation, and once AFTER a tenant moved in LOL), windows broken through the renovation and appliances stolen. And at the end of the day while they were in a neighborhood that showed avg rentals within .5 mile radius their house was only two blocks on the wrong side of a major highway... and rents on THAT side were about $300 less. Needless to say they firesold that property to a local investor barely able to cover their expenses. Now they just invest with me, haha. But to each his own and pain is an excellent teacher.
Dont mean to throw shade on your plans just do a much better job of due diligence, and listen to the local experts, your not smarter than they are, and they know their market. Best wishes
Thank you for your input! I definitely plan on reaching out to property managers to get more information on neighborhoods I plan on investing in before making any offers. Being an OOS investor I definitely understand the importance in the input of locals and property managers in the area thank you.
You mentioned that investors invest with you now after those horrific experiences you shared with me. What services do you provide?
What @Edwin Epperson said.