All Forum Posts by: Andrew Ashby

Orlando is indeed a hot market for second homes and short term rentals. We're definitely not seeing a slow down in new construction yet. The short term rental market is heavily influenced by cash buyers from Brazil and China who are snapping up new construction "McMansions" to offshore some cash. The short term rental market is duly saturated and extremely competitive. It is for that reason I've chosen to stay out of that game personally and focus on long term value add opportunities and flips. Disney and Universal are continuing their expansion which helps further drive construction and economic growth here. 

@Tyler McCullough. Look at the periphery of these two cities for 1% deals on small multifamily. They tend to get snapped up pretty quickly though. Let me know how I can help.

I agree with @Tyler Gibson. Seems a little too good to be true...

@Marielle Walter, 1% deals can be found on the fringes of Metro Orlando. Recommended areas include, but are not limited to: Davenport, Kissimmee, Sanford, Clermont, and many more. 

@Caileen Gonzalez, it all depends on what you are looking to achieve here. If you’re looking at single-family and small multi family, I recommend looking at the fringes of Metro Orlando for 1% deals (for my purposes, I define Metro Orlando as a one hour driving radius to downtown which can be as much as 40 to 50 miles depending on which direction you’re coming from). When considering the city of Orlando and Metro Orlando, it’s important to understand that the city limits of Orlando are still quite small and you’re talking about roughly 240,000 people within the city limits while the greater metro area is in excess of 2.5 million people.

I recently completed a cash-out refi of my triplex in Jacksonville with a 10/1 ARM, 30 year amortization at a reasonable rate with Lima One Capital. The property is held by my LLC. I highly recommend Lima One.

Property Value-Land value=Building (improvement) value. Building value / depreciation term (27.5 years for residential, 39 years for commercial) = annual depreciation

This is a good discussion to have and it's one most of us have probably been through. Spouses seem to have trouble getting into the investor frame of mind with real estate--that you're buying property for the sole purpose of producing income...not making an emotional connection with a place you're going to live in. My wife was extremely wary and discouraging when I got into this game, but she came around when she could clearly see that we're on a path to financial freedom.

I've never provided laundry machines for my tenants unless the machines were already present...in which case I always include a clause saying that I won't repair them if they break. I can't envision ever providing them.

This is a great discussion to have and it's one we've all been through at Thanksgiving, lol. This is one of the many things where it's best to take advice from those who have done those things--which for most of us excludes our family members. Most people simply don't have the courage to encourage their loved ones to do extraordinary things they've never believed themselves personally capable of. I went through exactly the same thing when I was I new to the game, but I didn't let it dissuade me from my goals. I'm sure most of them still think I'm crazy and still fully expect me to fall flat on my face, but others are warming up and looking to lend me capital. I've proven myself time and time again and will continue to do so. Stay the course.