All Forum Posts by: Ian McKeown

Talis Management and Charleston Management are very good for townhome communities.  You may want to call local real estate agents in your markets who can recommend smaller property managers if your doing single family deals.  Your costs may be a little higher with a small shop.

I'm looking for HVAC, plumbing and electrical contractors who can bid on new single family construction in the Vero / Ft Pierce market.  I have shell, truss and roof bids.  Permits are approved and the project will start ASAP. 

The question's too broad.  Permitting costs are at the City/County level.  Building costs are tied to sales price, selections/options, labor & materials, design and contractor fees.  Where's the land that you already own?

How much cost inflation from 2013 to 2016?  How much squeeze on your margins from 2013 to 2016?  Still finding great deals?  Feel like a bubble?  Used to be fish in a barrel; now it's needle in a haystack?

Here's some quick CMA figures from the neighborhood. Boundaries are Hiawasee W; Chantry N; Powers E; Carter S.

@Mark Yaffe; Miami, Tampa, Orlando and Jacksonville are your big FL markets.  They each have smaller sub-markets that are very good.  Miami is generally overpriced now because of foreign investment.  Tampa and Jacksonville are very good for MF.  

Again, though, you have to set up your individual "program" first.  What do you want to invest upfront, how many units, size of units, what kind of tenant do you want?  

Multifamily is great for transient markets and sub-markets where people come and go a lot.  You can also look at it demographically and target millenials, student housing, low income, seniors, etc.  

Get that stuff set up first, then go look in your markets and find the deals that suit your investment criteria.

Mark, there's plenty of SFR deals to wholesale, fix/flip or invest. The MF inventory is light in Orlando but you can great MF deals in other FL markets. You'll be very successful if you set your targets ahead of time (capital going in, hold period, leverage, demographic, equity multiple and/or IRR).

You can also search for judgments against the GC and complaints on the license.  Trust but verify.

All great points. Go Orlando! Expect RE taxes to generally be between 1.5% to 2% of value. Be wary of CDD's which is like an HOA but you pay it in the RE taxes. You'll see them in communities with a lot of extra amenities.

Short term rentals are great but it's a boom/bust market.  Concentrate on paths of growth.  Orlando is moving NW towards Clermont, SW away from Disney, SE towards Lake Nona.

Rental markets are very diverse including service workers, Millenials, college students, traveling professionals and various immigrants.

Multifamily properties are very hot but mostly at the investment level (200+ units).  Smaller units are tough to come by.

You'll find great deals in Orlando and many of the surrounding communities including Clermont, Apopka, Maitland, Altamonte Springs, Winter Springs, St. Cloud, Kissimmee and Championsgate along the outer beltways (SR417/SR429).

Happy Hunting.

@Bobby Musser I have one coming up for auction soon.  Inspection scheduled in the next few days.  Let's talk if you want to take a look at it.