All Forum Posts by: Erika Vargas

Hi @James Miley

Hope you are enjoying your new home in Ocala! Yes the market is crazy even in a "small" town like Ocala. Anything good or with potential on the MLS will get snatched up very quickly, nevertheless there are always deals to be found! Good luck on your sale in Georgia! I look forward to hearing from you!

Hi @Michael Mims I am glad to finally say that we successfully flipped it! We officially closed this week and my investors and I were very happy with the profits. We even sold 15k over what we originally thought. Overall, great experience. I am now in the process of buying 2 rentals and build that real estate portfolio!

@Rafael W. I closed on a new construction in April of 2020, just the beginning of COVID. The house cost was143k and now the same model is selling 164k . The housing market is hot and I feel that a lot of people are relocating here. I have also worked with a lot of buyers and by the time their house is completed (new constructions ) they have already gained equity. I put my fix and flip on the market last week and received 10 offers in a week... all asking and over asking.

@Rafael W. I own my primary and just did and fix and flip. I love living here. I also leased 2 homes for investors a few months ago. I received a ton of applications so finding a good tenant wasn’t hard. There are a lot of multi families being built now. If you have any other questions about the area let me know !

@Natalie Schanne Build multi-families in Ocala,FL or any other market with a shortage for rentals.

@Zak Nichols Hi Zak, I would also suggest looking in Orlando and Kissimmee . I live in Ocala and it takes me an hour to go to Orlando. Short term rental in Orlando are also very in demand.

Yes, many! 
1. Make sure your numbers are correct and plan for extra expenses. 
2. Work with dependable people, make sure whoever is managing your property (if it’s not you) is dependable and commutative. 
3. Send offers, I sent so many offers I lost count until finally I found a deal I couldn’t pass up. 

These are only a few, but I would say once you have a deal on your hands , go for it! 

I love Ocala. I actually started in Miami, but ended buying a new construction in Ocala and decided to move. Best decision I ever made for my career. When I saw the home prices, market rents, and property taxes I was SOLD. 

Investment Info:

Single-family residence fix & flip investment in Ocala.

Purchase price: $70,000

This was my first real estate flip. I was scared to make the jump and did not have enough cash. I actually partnered up with investors who had the cash and I did all the leg work.

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

I love real estate! I live, eat, and breathe real estate. I was so excited when I knew I had a deal.

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

The deal was on the MLS. I was the first one to see it and I offered the agent my commission.

How did you finance this deal?

Partners!

How did you add value to the deal?

I did all the leg work. Found the deal, and managed the rehab.

What was the outcome?

The rehab came out amazing. We did a short term lease and now we are getting ready to list it!

Lessons learned? Challenges?

Be very clear with your contractor, and also buy all the materials ahead of time! I was going to Home Depot and Lowe's daily. I could have been better prepared.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, my partner is a real estate lawyer.

Hello! I am an agent and investor in Ocala. I agree the area has grown a ton. The World Equestrian Center recently opened and they are still building. Amazon also opened up it's warehouse and it looks they they will be buying 49 acres in Marion Oaks.