All Forum Posts by: Andrew Ashby

@Sam Guarnieri, I opted for the Bob Hogue School of Real Estate online. If you're like me, you hate classrooms and want everything done on your own time. I finished the entire course in a few weeks and passed the exam the first time. 

I agree that one of the main reasons questions go unanswered is if they're posted on the wrong forum topic. As someone who posts more answers than questions myself, I only see the posts triggered by my keyword alerts. I don't browse the forums all day. I use the keyword alerts to prospect for new clients, new partners, and new connections. I don't mind jumping in to answer the same questions over and over again such as "Where in Orlando should I invest?" However, some of the questions are annoying when the poster has obviously done no research on their own whatsoever. 

You have to remember that many of the experts answering the questions are in real estate full time, and our time is valuable. 

As an agent and an investor myself, I'll say that you can't expect the market experts to do all your work for you. Probably for 80% of the newbies who contact me, I never hear from them again after I've answered their initial questions and set up property alerts for them. I won't hold your hand unless you show me that you're serious about this and that you're not one of the thousands of "tire kickers" who want a ton of research done for free. 

@Ian MacLean, welcome to BP! You're in the right place. The Orlando Metro Area is one of the fastest growing in the entire USA. Many of the zip codes here already sit at 0.60-1.1% rent-to-purchase price ratio without even adding distress such as foreclosures and short sales. Specifically, I recommend looking at Apopka, Altamonte Springs, Ocoee, Winter Garden, Clermont, Minneola, Davenport, Kissimmee, Maitland, Lake Mary, Winter Park, and Windermere. 

@William Layne, welcome to BP! You're in the right place! As a local agent and investor myself, I own 4 units (2 SFRs and 1 duplex) and I don't mind telling my story if it helps others find the confidence to pull the trigger. 

@David Smith, I have to disagree with you on the impending doom in Central Florida. Central Florida's population boom (Orlando MSA has added 400,000 in the last 5 years alone) is underwritten by job growth. Orlando is even a serious candidate for Amazon's HQ2 and the northwestern section of the beltway will be completed within the next 2 years--bringing job and population growth to the NW suburbs like Apopka and others. I'll agree that the current retail prices on new home construction will likely see a correction in the near future when builders catch up with demand and saturate the market. However, there's still a ton of opportunity for cash flow in Central Florida in houses priced $100k-$200k. I even have investors that are willing to spend up to $300k for the right SFRs in highly desirable areas which have been desirable for decades and have VERY significant rent premiums attached to their zip codes. I'll also agree that "Multi-family Mania" has driven prices up and CAP rates way down to the 3-5% range in multifamily...but there's still a ton of investment potential in your Orlando Metro home market in SFRs and small multi-family especially.

@Guy Yarkoni, I have property in Jacksonville myself and I was fortunate enough that mine was left untouched and NOT flooded. I used to live in Jacksonville as well, and I can refer you to a Realtor there whose brokerage specializes in investments. 

@Jacob Kelley, welcome to BP! You're in the right place. There's no shame in looking out further from your hometown for better cash flow and CAP rates.

@Josh Calcanis, I see no reason why you wouldn't be able to use the same intermediary. You'll definitely have to identify some of the potential acquisition properties when you start the 1031 process. @Dave Foster (he's in St. Pete) is a local qualified 1031 intermediary and he often jumps in on these discussions. 

@Patrick Philip, I have to agree with others about the relatively high prices and low cap rates on commercial properties in Orlando right now...especially with low risk multi-family trading at 3-5% CAP rates right now. As others have said, you'll need to look further away in the secondary and tertiary markets for better cap rates and lower purchase prices. Polk County is not far from Orlando and may be a good place to look if you don't want to overpay. Publix is headquartered there in Lakeland, and it often gets overlooked.

@Saravanan Varadan, happy to help! I'll send you a PM.