All Forum Posts by: Shawn McCormick

@Aaron Washington Most of the resort style communities in and around Disney/Davenport are going to have a spa, they are all built that way. They will absolutely increase bookings (for all of those commenting that don't live here) I wouldn't rely to heavily on awning or other data sites as they are just that, data, not taking into account all the nuances of a particular home or community, proximity to the theme parks or clubhouse etc. Choosing to be in the right community here matters too, I have a top ten list of the ones you should consider first.

What many seem to not realize is this is a vacation spot geared towards kids....and it's a Global attraction..meaning that the majority of visitors have probably never been in a hot tub so it is a big deal. And, again, for those commenting, the hot tubs/spas here are built in with the pool, not a freestanding one on a deck, so maintenance is much easier as it is part of the pool. 

As for your other question on earnings potential. You must stand out, theme the bedrooms in a big way, not just stickers and bed sheets. Convert the garage and do it right, not just ping pong and a pool table. Create a desire to choose your home over the other 10's of thousands and you won't be fighting (as hard) to get your unit booked and noticed. Automate the home, give outstanding service and communication...offer a better mouse trap and you'll do fine.

Best of luck!

@Kristina Rogers What are are you in. Property manager tend to stick to geograpical boundaries like Counties so they can effectively manage them. I have a few I could recommend based on your location.

 Yes, CFRI.net. We don't have too many national speakers. Our goal is to provide information, education and networking opportunities. It is non profit, and we don't allow coaching etc. We cover six counties and have meetings in Brevard and Volusia so those should be more convenient for you. I would give it another chance. 

@Matthew Raby congrats on sticking with it and finding a way! I'm in Orlando and would love to hear more about your property, guessing its a condo or maybe a townhouse for that price, but could run comps for you if you need. 

I am on the board of CFRI, the local REIA here in Orlando and we have many private lenders that I could introduce you to, everyone wants their money working for them. CFRI is a great place to meet and network with other local investors, trades and also get some education along the way. There are lots of meetings every month and some geared toward flipping, new investors, multi family etc. So it may be a great place for you to get connected to.

Best of luck, keep us posted on your flip.

Hi and welcome @Joanna David Dishart. There is plenty of info right here on Bigger Pockets forums and podcasts about BRRR. Another great resource is joining your local REIA. I have been a member of mine for 10 years and am now on the board and it has proved invaluable in my business. I've made many great connections, educated myself on topics I didn't know existed before and have taken actionable steps in my personal investing business that I wouldn't have done otherwise.

I'm in Orlando and if I can be of any help, please feel free to reach out. 

Best of luck!

@Klejdi Banka Welcome and congrats on getting started!

I'm not sure where you are getting your information, but I can speak to Florida. In general, we no longer have 'lower prices' or the '1% rule', so those two things you should research more. Orlando and Tampa are consistantly on almost every list of best places to live and invest. Florida in general has a higher appreciation rate than many other states and a great net migration along with the other things you mentioned. So It is still a great place to be looking.

I'd be happy to dive deeper on the greater Orlando market if that is of interest. reach out anytime.

Best of luck!

Hey @Colin Miner congrats and welcome to BIgger Pockets, you'll find plenty of great resources and information here. I would also recommend that you find your local REIA and also attend as many meet ups that revolve around real estate investing and network to build your buyers list and make connections for down the road.

Best of luck

@Patricia Prudencio If you are looking for STR's already in operation to arbitrage, get your 'team' to hunt out properties that have been on the market for 6 months or more. That is where you are likely to find some opportunities. Too many bought at the height of the market and didn't know what they are doing, so they are ones that would be open to creative options that could keep them above water until the market comes back around.

With Universal opening up EPIC next year, the timing is good to get in and up and running. I'm personally not a big fan of arbitrage as it seems too many take advantage of the owner and don't create a win win. 

Best of luck to you.

@Priscilla Rodriguez what are you trying to accomplish? Negotiate directly with sellers, are you using an agent, let them do that for you. If you are working directly with sellers, my best piece of advise would be to find out what they need, generally there is a pain point or some sort of distress either in the sellers personal life or with the house itself. If you ask questions and have a genuine interest in helping them solve the problem, the negotiations can almost take care of themselves. You solve the issue and in return you get your terms. 

If I'm off base here, let me know and perhaps I can look at this another way. 

Best of luck

@Uzziel Cortez Welcome and congrats on getting started.  I would caution you on doing your first deal OOS. Especially if you don't know the nuances of the particular area. You may be lured in by a cheap price or a pushy agent trying to sell you on a deal. 

Putting together a team out of state is hard enough as it is, but learning REI and building a team from a distance at the same time could be a recipe for disaster. I personally live in Orlando too and invest in Ohio, but I grew up in the town I invest in and have trusted people there.

I'm not talking you out of it, but perhaps try to find something around here, maybe in a area that still has homes that are reasonable like deep in Polk County or Volusia like Deltona, Haines City areas. 

Let me know if I can help, best of luck!