All Forum Posts by: Shawn McCormick

@Zackery Lucas welcome! I'm in Clermont, but do some business up your way fairly often. My brokerage has an office in Leesburg and Mount Dora too. 

I'm an active Realtor and investor and on the board of our local REIA. We have a Lake county meeting on the 3rd Tuesday in Clermont and many others throughout the month all over Central Florida. I would be happy to send a guest pass to come out and meet/network with other local investors. Its all non profit/volunteers so just other people trying to figure it all out.

Let me know if I can be resource for you at all. 

Best of luck

Hi @Shane O'Neill sorry you left Orlando, but yes, it is a great place to invest. I would caution against getting in around the stadium. Although commendable for those willing to risk and have the wherewithal to pull of 'gentrifying' an area, IMO, I would not be up for that. Unless the city was offering grants or something to incentivize it, it is a risky proposition. 

There are plenty of areas that would offer great appreciation and some good ones for cash flow if you structure the deal correctly. Depending on your budget and threshold for risk, I could certainly suggest some growth areas for you. One in particular that might fit in with your athletic lifestyle would be the Olympus project in Clermont. It is a $2 Billion sports wellness and training area just getting started.https://www.olympusorlando.com/

Let me know if you would like to have a call sometime. PM me

Best of luck!

@Sushree Mohanty, yes our market has over 40,000 STR units plus hotels. But we are around 70 Million visitors a year. Just like any vacation spot, some are looking for deals, some want an experience and some want location..Just think Vegas, you can stay off strip and Uber in or stay at the Bellagio and be in the middle of it all with high end everything. So if you buy in the right community and have a home that offers an experience that the kids and parents will creat memories, there are plenty of opportunities for you to capture business.

Some other benefits are having a great airport, quick access to 2 cruise ports a high speed train to Miami and East or West coast beaches within an hour. So not everyone comes for Disney. If you just have a 'house' without having it highly themed, you'll fall into the thousands of them doing just that and won't do that well. I would suggest you go on airbnb and look at homes that sleep 15 or more and look at some of what people have done with these homes to get an idea of what it takes, then look at their calendar, you'll see that they do well. 

@Sushree Mohanty in the Orlando area now, $1M will go a long way. You could purchase a property with 9 beds that is fully themed out that is grossing $150/year or so. I'm not sure if you are financing, but if you are consider multiple units. You could start with one and if you like it and it performs well, scale into another unit. 

Our market is literally built for STR as the communities are zoned and built specifically to be short term rentals. So no need to check into regulations or having the city or HOA change the rules on you. All of the best communities have resort amenities like guard gated entrances, clublhouses with gyms, restaurants, game rooms, movie theaters, volleyball, lazy rivers, tiki bars etc. The homes come fully furnished, they all have pools/spas and will be rent ready from the day you close and often will convey with future bookings in place.

I'm happy to discuss in further detail if you want to learn more. Best of luck

Thank you @Michael Baum!

Message sent.

 Hi @Shakeera Nelson I am available for you immediately. I have helped dozens of other BP members buy and sell. Please reach out anytime. You can PM me or go to my profile and get a link. I can be at the home Thursday to preview and go over any questions for you. 

@Richard Scott Dinnan Thank you for you and your spouse for your service, very commendable! Also congrats on building your real estate portfolio while keeping others in mind, too much greed in this business sometimes!

I do a lot of relocation business with Lockheed as a Realtor®, lots of transfers in and out! I see you mentioned Orlando, I would invite you to come to CFRI (Central Florida Realty Investors), we are the local chapter of the national REIA and cover 6 counties. Its non profit and all volunteers, we have about 20 meet ups a month covering many niches of real estate. You may make some great connections!

Let me know if I can be of any value to you. Best of luck! 

@Jonathan Krystinak Welcome to the forums. I would be happy to talk to you about some Florida markets. I would personally stay away from coastal cities with insurance costs and weather risks. I'm in Orlando and lots of opportunity exists here. It is very competative in both flipping and wholesaling as the eyes of the entire globe are looking at Florida and there are lots of really big players in this sandbox already. You just have to do what other won't do.

We have an immense STR community here, so you could legitimately do a second/vacation home here and possibly use it as a write off while using it while you're here.

Best of luck

@Alex Na Welcome Alex! Not sure why you want to automatically pair the FHA with the 203k. You might find a property that has value add without having the headaches that come along with 203k. I would dive deeper (maybe right here in the forums) to find some people who have been on that side of a 203k and see what their experience was. Not from an agent perspective, but from the buy side, it sounds good in theory, but comes with challenges.

If you make it over to Orlando, I'd be happy to meet up with you. You might want to look into going to the Brevard County meeting for CFRI, (Central Florida Realty Investors), it's the biggest REIA out there and Brevard has a county meeting, I believe the 3rd Tuesday of the month. You might get some great contacts there and networking opportunities.

Best of luck!

Hey @Yona Ganz I'm in Orlando and can help give you some guidance on multi family here. It's a very competative segment as it is highly sought after for the same reasons you are looking at it. Appreciation has been very strong due to that and often the ones that are on market don't meet the criteria for experienced investors looking for high returns. 

If you can afford to hang on to it, do some value add and be okay with less than ideal cash flow for the first few years, you should still do fine, but most people want that instant cash flow. So you may find some deals that others pass up. The bulk of what comes on market is well outside of Orlando. Most of the stuff closest to the city is just too pricey. 

Happy to jump on a call to dive a little deeper, you can also check out CFRI. net. It is the local REIA and there is a multi-family meet up once a month (in addition to other niche meetings). You'll meet up with other local investors and be able to get good info and network.

Best of luck