All Forum Posts by: Shawn McCormick

Hi @Steven Vargas. I have two close colleagues that are in that space and others that own many manufactured homes in this area. One is a dealer that buys land and places homes on them once entitled. covering all of Central Florida, the other does mostly the same, but is not a dealer.

Let me know more about your strategy, are you looking for land and then hoping to go to a dealer and do it all yourself, buy old homes already on land and place new ones..?  

I would check out CFRI..net. This is the local chapter of the National REIA and we have plenty of people with great knowledge that could help you out.

Best of luck

Good morning @Kevin R Thompson

This is something that I've personally helped my clients that self manage with. As their Realtor, I have assumed the role of the local contact. I get the notifications and invoices from the County. So far it has been no issue at all for me and it keeps me in contact with my clients.

If you utilized a Realtor to help with your purchase, reach out to them to see if they will help. 

Best of luck

 Hey @David Brown. Just replied to another post you had ;) and also accepted your request. Happy to have a call or meet up sometime to see if I can be of any help. STR is a tough game in Orlando, but it sounds like both you and your wife are all in on real estate here, so that makes it easier. Cost segregation and the bonus depreciation could be a great way for you to offset your W2, I have a great guy to do that, but making sure it makes sense would need to come from your CPA.

@David Brown, welcome and congrats having agressive goals. Would need to know some more about the roadblocks you are facing. Is it financing, availability of affordable homes, time etc. Scaling can have many obstacles, but nothing that others haven't faced.

Are you willing/able to house hack? Orlando doesn't have much in the way of small multifamily. Especially in good areas that you would want to live in ...and that will make sense on paper to be profitable (affordability). But that can acelerate your plan by getting two doors at once. An FHA loan would get you in pretty cheap and you could value add to the property then hopefully either do a cost seg study or do a HELOC to pull out cash to repeat for the next doors.

You should look into joining CFRI (Central Florida Realty Investors), the local chapter of the national REIA. We have over a dozen meeting a month with focus groups for multi family, landlording, real estate 101, flipping etc, so you could meet and network with other local investors who share experiences and provide contacts and advice on just what you need. I can get you a guest pass to come out to our general meeting coming up on Sept. 9th if you like.

Best of luck

Hey @Andy Verge I do quite a bit of business with STR's in Orlando as an agent and have helped a couple dozen BP members purchase/sell. Like @Ryan Moyer mentioned, this is a busy and tough market, but does have advantages. 

One big thing that has come back as part of Trumps OBBB is bonus depreciation and short term rentals have a big advantage right now due to how much of the items within the home have a relatively short shelf life. That alone may be worth a look into if you need the write offs or just want to use what is given (that could go away in the future).

Happy to have a call sometime to discuss what communities do well, including Windsor Hills (still one of my top 3) and what else you may want to consider. You can schedule a call with a link in my bio and visit my Youtube channel to get some info on other things to consider.

Best of luck!

@Clark Thornton Welcome. I'm in Orlando too, happy to help in any way. 

I would suggest looking into CFRI, the local chapter of the National REIA. We have quite a few meet ups every month all over Central Florida.

Best of Luck!

Hey @Javier Meza Welcome to Orlando. I live in Clermont, happy to meet up sometime. I am on the board of CFRI The local chapter of the National REIA, you should come to some of the meetings.

Tons of opportunities to network and meet other local investors, trades, wholesalers etc. We have about over a dozen meetings a month all over Central Florida. Our General meeting is coming up on the 12th and we have our Lake County meeting in Clermont the following week. 

I can get a free pass for your first meeting, PM me and I can get it to you. 

Best of luck!

 Hey Bill,

Is someone within your PM company licensed, they should have access to all the stats from the MLS, Florida Realtors, and a host of other places to dial in on DOM within zip codes, cities or MSA.

As a Realtor, I service the entire Orlando area. I do a lot of relocation clients and that helps me buy/sell in markets that I'm not always in and out of often. As an investor, there are many other factors, but proximity is one of my key focuses to not have to travel too far. The best deals tend to be in the outlying areas as there isn't as much competition from wholesalers and the like. Margins are thin here on rentals, rehab budgets and profits for flips. Insurance, taxes, HOA and tightening county rules/permit times etc eat into everything.

You should check out CFRI, the local chapter for the National REIA. They have lots of meet ups every month and also focus groups (like landlording, women investors, advanced investors, multi family, flipping etc).

Best of luck

Hey @Bill Cole What data are you looking for...what the average days on market are? That can be quite different not just city to city, but one area of one city to another. School zones, busy roads and how much new construction there is in the area, etc can split an area in half where one does well and the other is slower. 

From 30,000 feet. Oviedo, Lake Nona, Windermere and the UCF area all still move pretty quickly. Areas saturated with new construction or poorly performing schools are slower..like Davenport, Apopka and a few others. With so much inventory, the data is changing every month where traditionally an area did very well is no slowing to 50-65 DOM. 

Happy to dive a little deeper depending on what exactly you are looking for.

Colleen Pacheco with Secured 407-725-3413