All Forum Posts by: Brent Reynolds

Hi Collin - 
Assuming that its the down payment requirements that are the challenge, here's a few thoughts on this...

Can you house hack this property (live in part and rent the other)?  If you can, you may be eligible for low down payment loan options that your banker can help you with.  There are also companies who will buy the house on your behalf and finance it on a rent-to-own model.

Ask friends and family to partner with you on the purchase and share the net income.

If you haven't, consider joining your local real estate investment group/club/association.  My experience is that these communities are very supportive of newbies and may be willing to partner with you to share the risk and reward. 

Brandon Turner's book on low-or-no-down payment investing is a must read: https://store.biggerpockets.co...

Good luck!  Let us know how you tackle this challenge!

Hi Pamela - 

Couple of thoughts here..

Send a letter to the address on file. Mail may be forwarded at the post office.

Now that you have the name, use your county appraiser's office website to search for other properties owned by the same name.  This may surface other properties owned and some new contact information.

Search the county's online tax records for tax or other liens which may bare more contact information

In Florida, we can contact a title search company directly and pay for an O&E title search (around $100) that essentially does this work noted above and a little more.  You may consider talking to a real estate attorney in your area for advice on how to do something similar and get their help interpreting the results.

Hope that helps!

 Hi Guang - 

The general term "Orlando" is a big market that includes five counties.  There are numerous property managers who specialize in some, but not all parts of Orlando.  If you can narrow down the specific communities you are looking to solve for, we may be able to help you better.

Hope that helps!

Hi Sendil

I’ll send you a DM on this. 

@Stephanie Romo - what types of assets are you looking to buy (SFH, MFH, STR)?

On the long-term rental front - cash flow is challenging, but not impossible.  Growing your search range is key this market - Ocala, Leesburg, Winter Haven, Lakeland, etc are all hot rental markets and typically more affordable than what you will find in "Orlando" and immediate surrounding areas.  Also, being willing to take on distressed properties and muscle out the rehab will help you filter out some of the competition from the hedge-fund investors who are willing to pay top dollar (typically above asking price) for rent-ready properties in these markets.

Rents are growing at 8% or more YOY in these markets.  So, while it might not cash-flow today, the marginal deals may start looking good in year three.  In short, if you set your expectations to buying properties that cover their mortgages, you may find cash-flow in the near future.  Use your BP calculator and look out over time.  Your mileage my vary.

Hope that helps!

Hello @Al Caan

The great news is that demand for STR is very healthy, especially within 15 miles of Disney, for obvious reasons. While traditional hotels took a beating for a year or more during the pandemic, STR (and timeshares) returned to healthy occupancies very quickly once the parks reopened as families realized that they could venture out on vacation in the comforts and relative safety of a fully-equipped home vs perceived risky hotel interactions. And of course, our business-friendly political environment helped spur occupancy in the pandemic. Not saying that they are recession-proof or pandemic-proof, but more resilient in these environments.

Many of our clients have purchased and operate their STR from out-of-state. There are many STR management companies in the area. Expect to pay 15-25% in management fees.

The challenge is that there is also a lot of competition in the market.  Those who are most successful keep their product up-to-date, do some level of theming in design, and are experts at online marketing of their home.

Hope that helps!

Seeking a pro to appraise a commercial property in Winter Park and estimate rehab costs for a medical practice. Any referrals?

Congrats, Murali - please keep sharing your successes.  I'm and investor looking to Ocala as well and would love to learn from you and support you in your growth there.  Mostly interested in small multifamily.

Scouting the Ocala market this week by car... seeking to understand best opportunity markets to explore and which to stay away from.

Fewer will loan on manufactured homes, but they are out there.  Center state/Southstate bank will.