All Forum Posts by: Claudio Trevisan

@Julie Sisnroy

Hi Julie, prices have risen in Alafaya woods, but they are not unreasonable. They are still around the $300k mark. 

There are new builds throughout Orlando, but most are going to be well above the median price of $300k. 

I am not an expert in Poinciana, so I’m not much help there. 

But if there are any other questions I can help with, let me know. 

@Loman Joseph Hi Loman. I am excited to hear that you plan to start your real estate investing journey! Are you looking to buy as a straight up rental or as an owner occupied property?

Also, if you need help narrowing down which county and area you prefer to invest in, i would be happy to help.

I like seminole county for the great schools/family oriented life style.

Orange county is huge! But this gives you a wide array of markets from cheap homes with more cashflow to luxury neighborhoods with high appreciation.

If there is anything real estate related that I can help you with, let me know.

Best of luck!

Hi Wade

Those are great areas you mentioned. 
As Jay mentioned, the cash flow will also be a little low in this area due to the home prices. 

However, there is an alternative approach. My goal is also cash flow. But I prefer to actually invest in really well established areas like Dr Phillips. I realize, I won’t have as much cash flow right away. But I have a greater opportunity to grow my wealth which I can then convert into cash flow down the road. Plus, you will likely have a better pool of Tennant quality to choose from when you buy in a well established neighborhood. 
The key is to buy something that needs work. If you are able to buy it below marker value, and then fix it up. You will have instant equity and higher cash flow. You can than leverage that equity to buy more real estate. 

@Ricardo Loredo hi Ricardo. 
There’s lots of areas that you can house hack in, but if you want to rent the rooms to students, I would stay close by UCF. 
Oviedo and Avalon Park are both great options. 
but if you’re looking to get a good deal, you will have a better chance of finding something in Oviedo since most of the homes in Avalon are newer and you don’t see many fixer uppers come on the market. 

Yeah I think student rentals by UCF would be a good option to consider then. 

There are other areas that may provide good cash flow as well, but the areas aren’t as well established yet. 

Let me know if you have any other questions. 

Hi Wade, 

Check at Oviedo

Specifically Alafaya Woods (a subdivision in Oviedo). 

You can kind of get the best of both worlds in that neighborhood. You can still get homes for under $300k. It’s in a great area. All schools are highly rated so you will have no problem attracting quality family tenants who will take good care of your property. And Oviedo is growing so you will see appreciation. I also often see good deals pop up in the neighborhood that can be bought below market value if you are fast and willing to buy an ugly house. 

You also have the flexibility of renting out to students for a higher cash flow since you are so close to UCF. 

Hope that helps!

Hi @Arturo Pena Miranda

There is plenty of demand for student rentals near UCF.

I personally ended up investing in the suburbs away from student rentals.It has less cash flow, but also will be less management Intensive.

What are your goals? Are you looking to build your wealth or increase your cash flow first?

If you want cash flow, renting out each room to students will definitely bring in more money.

Investment Info:

Single-family residence buy & hold investment in Longwood.

Purchase price: $277,500

Purchased for $277,500 and ARV is $340,000.
Buy and hold single family
4/2 2000 square feet

The property needed work cosmetically but had good systems (new roof, 2016 water heater, 2013 AC). This allowed me to get the property at a good discount and renovate it for less.

What made you interested in investing in this type of deal?

Build long term wealth

How did you find this deal and how did you negotiate it?

MLS- estate sale

Represented myself. Asking price was $296, got it for $277,500.

How did you finance this deal?

Conventional 3% down

How did you add value to the deal?

Remove wall paper
Paint
Replace carpet with vinyl plank
Remove popcorn ceiling
Reglaze bathroom tiles white
Paint kitchen cabinets white
New modern fixtures and hardware

What was the outcome?

Increased value by $60k

Lessons learned? Challenges?

Wall paper is very tough and time consuming to remove

@Erin Legler

Hi Erin, thank you for sharing. That’s a good thing to consider. 
Would you mind sharing your CPAs info? I don’t need to reach out at the moment, but I may in the future. 

Update: I spoke to the city of Orlando and confirmed that there are no restrictions for renting out a room if it’s 30days or more