All Forum Posts by: Easton Curtis
Easton Curtis has started 4 posts and replied 16 times.
These responses are very helpful. I wasn't aware that they wouldn't be considered real estate, but that makes a lot of sense. I greatly appreciate you both taking the time to thoroughly answer and explain. Thank you, @Shawn McCormick and @Jeff Copeland !
Hey everyone! I've been saving up to put a down payment on a home with a 3.5% FHA loan. My wife and I are full-time performers in Orlando so we'd love to start getting into the real estate game for some stability. We've been looking for a home to house hack with airbnb, move to another home after a year (per the FHA loan requirement) and find long-term renters for the first home, and repeat. We've been waiting for a good deal and for our savings to grow, as we don't have a lot to start with as far as down payment goes. But I just found this listing on Zillow. Based on the Investment Calculator template I've been using, this is ideal for our situation. Is this listing too good to be true?? I feel like it MUST be. But I don't know how or why. I'd love anyone's thoughts on this! https://www.zillow.com/homedet...
Post: Orlando Neighborhoods for small MFH
- Posts 16
- Votes 8
Originally posted by @Mike Shulman:
Multi-family is a tight market in the central Florida area. I currently own three and they were like looking for a needle in a haystack. You may want to consider doing a house hack and adding an ADU or convert the garage into a living space as the rental. This is a great way to add value and offset living expenses through a house sack without the expense of finding the multifamily property. If you want multi-family I suggest finding someone that is good at off market acquisition. Once they hit the MLS it's almost too late with something like multifamily.
Great idea! Thank you for this tip.
Post: Orlando Neighborhoods for small MFH
- Posts 16
- Votes 8
Originally posted by @Joseph Velez:
Hi Easton,
If your Goal is to maximize the rental income, based on all the rentals we manage some of the best areas I would recommend would be Winter Garden, Windermere, Oviedo, Clermont, Lake Nona, Altamonte Springs, Winter park, Colonial Town and Apopka. your welcome to reach out for free rental analysis if you find some properties you like.
I'll add those to my list. Thanks so much!
Post: Orlando Neighborhoods for small MFH
- Posts 16
- Votes 8
Originally posted by @Shawn McCormick:
Hi @Easton Curtis congrats on doing your homework on the market. I would advise that the market could be much different when you are ready to purchase in a year. Although Orlando continues to be a great rental market and that won't go away, but any deal you are looking at now will not be around when you are looking in 2022.
There are some variables that would help give some insight into what neighborhoods you are looking into. How long do you plan to live there, can you 'put up with' a C or D neighborhood for a year? Where will you go after? What loan type are you looking at and will you couple that with a Homestyle or 203k? Are you looking strictly for cash flow or appreciation or both. Who is your ideal tenant...college students, theme park employees, families etc, will you rent by the room? The College Park, Baldwin Park will likely be out of the purchase price range to cash flow efficiently, but there are plenty of other areas that could serve you well.
You say you are looking at MLS listings, are you working with an agent that understands your needs and investments in general. If they are no able to provide good insight to your questions, perhaps seek out someone that can better serve you.
Best of Luck!!
These are some great questions to mull over. I haven't found an agent just yet; I'm researching on my own until I'm ready to move and start scoping the area in person. Thanks for all of your advice!
Post: Orlando Neighborhoods for small MFH
- Posts 16
- Votes 8
Originally posted by @Account Closed:
Hey Easton! Local REALTOR and investor in Orlando myself. I noticed you said Plain Hills, and I think you meant pine hills perhaps? I just bought a duplex in the Colonialtown South Neighborhood, I would recommend that area - as well as Lake Eola Heights, Winter Park possibly, Lake Cherokee, Delaney Park but yes College Park area is good too.
Let me know if there is anything I can do for you though!
Yes, Pine Hills! I met with a realtor over the phone and must have misheard him. Thanks for all of your recommendations!
Post: Orlando Neighborhoods for small MFH
- Posts 16
- Votes 8
Hello BP Community. I'll be moving to Orlando in about a year. Once there, I plan to make my first investment by purchasing a small MFH that could use some TLC, complete some cosmetic repairs, and house hack. I'm currently checking MLS listings each day and crunching the numbers in order to develop my analyzation skills.
I was curious to see what any current Orlando investors would advise in regards to specific neighborhoods. I've been told that most of College Park (sans the south end), Baldwin Park, and Valencia are good areas for what I'm looking for, and to avoid Plain Hills and certain areas of Kissimmee. Does anyone have any recommendations on areas that I should avoid or should look into?
For example, I found a good deal for a triplex that needs some minor cosmetic repair on the edge Timberleaf, just off of 526. From what I could tell, it seems like a relatively good area and it's right across from Valencia College so demand isn't an issue. I'd be curious as to what locals thought about the area.
Post: Just starting out! Rental Property Invester
- Posts 16
- Votes 8
Hello Aaron, and welcome to the BP community! I'll be moving to Orlando with my wife as well in about a year, so I've been researching the market and connecting with others based near Orlando. We plan to house-hack a duplex. I'd love to connect!
Post: Coming in brand new and a little clueless on where to begin.
- Posts 16
- Votes 8
@Easton Curtis edit: income from the other *units* to pay the mortgage
Post: Coming in brand new and a little clueless on where to begin.
- Posts 16
- Votes 8
Hi Martin! I am a newbie as well and have been a part of the BiggerPockets community for a few months. I would recommend starting a habit of spending a certain amount of time every day on REI study (for me, it's 30 minutes every morning before I really start my day to read an REI book and check my BiggerPockets account).
Like you, I also have very little cash reserves. A book I'm currently reading that I would suggest to you is "The Book on Investing in Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money" by Brandon Turner.
A great way in for beginners that I plan on employing is the "house-hacking" strategy. Purchasing a MFP (multi-family property) of 2-4 units, and living in one unit while renting out the others. If you find a good enough deal, you can use the income from the other properties to pay the mortgage, other property expenses, and maybe even some cash flow--all while living for free!
I hope this information is useful to you. Best wishes for your REI journey. And welcome to the community!