All Forum Posts by: Andrew Davis

Right?!  They generally want you to open an account with him, which is definitely reasonable.

@Dwayne Byrd, local banks are the way to go!  I'd go visit all the local institutions in your county/area, share your plan with them and ask what programs they have in place.

The great thing about portfolio lenders/local banks is that they're very relationship oriented, and their guidelines aren't nearly as strict as a big institution.  I have an investor friend who has an awesome relationship with a local bank, and they actually created a loan product just for him!

It definitely takes time, but once you find the right lender, and demonstrate your credibility, you can really streamline the process.

Hey @Vanesa Gonzalez, welcome to BP!

I'd recommend a couple books first:

'Landlording on Autopilot' - Mike Butler

'The Book on Rental Property Investing' - @Brandon Turner

These should give you a good starting point.

Hey @Patrick Philip, 

How many mailings have you sent out?  How many doors have you knocked on?  Have you split tested your campaigns to see which are most effective?  Tweaked your criteria?  Drove for dollars?

There are deals out there, don't get discouraged, just keep at it.

Hey @Neil Whomsley,

Firstly, so sorry to hear you're going through that.  You are definitely not alone, I've had my share of issues with contractors and have lost money on a couple projects as result of poor workmanship and outright dishonesty.

You may be able to get some help here:  http://www.myfloridalicense.com/dbpr/pro/cilb/docu...

It's the Florida Homeowners Construction Recovery Fund, and was created for people in your situation (and my previous one).

Hopefully that helps!

Hey @Dwayne Byrd, welcome to BP!

It sounds like you've already got some great experience, and have a solid plan in place. I'm currently doing BRRR with an investor partner in Orlando, and it's working out very well so far. We're currently in the refi process, and will be able to pull all of our cash back out (plus $10k or so) for the next one!

I'm an active investor/agent based in Winter Park, so feel free to reach out anytime.

I wish you all the best Dwayne!

@Jon Huber, this sounds awesome, wish I lived closer!

Hey @Sabrina Hill,

Just wanted to say welcome to BP!  You've already received some great advice, so I'll just encourage you to keep asking questions, reading, learning and seeking out mentors to help you along the way.

I'm an active investor/agent here based in Winter Park, so feel free to reach out anytime.

I wish you all the best on your goals!

Hey @Ryan McPherson, welcome to BP!

A good investor friend of mine is from Eustis and owns about 20 units in the area.

Congratulations on getting started in your investing career!  

I'm an active investor/agent in the Orlando area, so reach out anytime.

Hey @Greg Nydick, I definitely agree with that assessment of Orlando.  We've seen solid YOY property value appreciation and rental price increases.  Tourism and hospitality ensure a large, stable pool of renters for the foreseeable future.

There's a lot of growth and development in the health care industry as well.