All Forum Posts by: Shawn McCormick

@Petronella Kerssens. You've gotten some good info so far. I would caution on thinking Orlando is only about tourism though(the whole state is really). There is much more going on here than that steryotype. The hedge funds and International investors have been pouring into both metros and both are consistently on every list as growth hubs.

As was mentioned, the Brightline will only enhance access to other major metros like Miami and Tampa, we are going to see much more growth in the space industry (again), not landlocked and not as vulnerable to hurricanes. One of the busiest airports in the country and it just expanded. Theme parks are still expanding and don't buy into the gloom about Disney and the political noise, that is a small bump. Clermont (just West of Orlando) is building a $2 billion athletic health and wellness community  (Olympus) with over 4,000 homes and retail to match. Lots going on here! Not downplaying Tampa, but I'm just more familiar with Orlando. 

All of this info is predicated on what you want out of your investments, cash flow is tight statewide, so we've counted on appreciation for the last few years, which is down this year, but still well above the national average. I can pluck out a few areas that I would recommend specifically if you have an interest.

Let me know if you want to dive a little deeper. 

Best of luck to you!

@Dillon O'Connell Welcome to BP and congrats on your upcoming graduation. I am on the board of the local chapter of the National REIA, called CFRI. We have about 2 dozen meetings a month all geared around education and networking. Membership is only $175 a year to get access to all of those meetings. There are focus group meetings that are geared toward specific niches/education like creative financed deals, landlording, flippers, STR, advanced investors, commercial/multi-family etc.

Everyone that attends is local and there is no selling, so you just get to meet and learn from local investors that are eager to help. You can attend your first meeting free and then decide if you think it would be what you are looking for. 

Hope this helps, best of luck to you!

Thank you @Michael Baum!

Hi Michael, I would be happy to have a conversation and get some more details, especially which community it's in. This is my market, so not just speculating with advice. I just did a really quick search for townhomes near Disney and couldn't find any 5 beds for that price. This concerns me as it is likely not in any of the top 10-15 communities that I would normally advise to start your search. If it is out of this area, you are likely too far from the parks. 

Reach out so we can go over some of the details. 

Welcome to BP @Travis Feldman. I'm in Orlando and always available to have a conversation just to see what we can learn from each other. I'm a full time Realtor and also do several forms of investing, both passive and active. My advice would be to try and choose one or two of those niches you mentioned, they will all get you there, but find one that you like, your good at, have the time for. 

I would also suggest going to your local REIA. I am on the board at CFRI, Orlando's chapter of the National REIA and the connections you make there will go a long way.

Best of luck!

@Chase Freund you can look into becoming a featured agent here on BP. Depending on how big and desireable your market is, you could benefit from that. Finding investors via your local REIA would also be a place to start. Meet and network with the wholesalers, they will have buyers lists that include OOS buyers/investors.

If you ever lived or have family in another state, join FB groups in that area. I invest in Ohio as I grew up there, but have lived in Florida for over 20 years. Best of luck.

I don't have much to add here that hasn't already been said. I have always gone by 1 ton for every 500sqft, so 4-4.5 ton should help here. I can absolutely attest to the fact that you should consider some type of alarm or auto close doors to the garage and the sliders to the pool area. guests notoriously will leave these wide open which will kill your a/c trying to keep up. I have some clients that have effectively done this.

Another thing to check would be that 'some' units have a filter at the unit and a filter at the return, eliminate one of them and as mentioned above, use a lower MERV filter and make sure your cleaning crew is changing it often. I just experienced this at my latest flip, froze up and couldn't figure it out, my contractor put a filter at the return! One other thing is to have them check the duct work, it is often pinched or chocked somewhere along the line where it is tied to the rafters. I see this all the time in home inspection reports..it usually goes without anyone fixing it..out of sight, out of mind.

As @Michael Baum mentioned, mini splits are very popular here too, one for the garage and maybe one in the bonus room if you have one upstairs. 

@Dustin Chamness Welcome to BP. I live in Clermont too, we should grab a coffee sometime. I am a full time Realtor and also flip, have rentals, lend money and always looking for the next deal. I've been a member of our bigh REAI here called CFRI. There are a couple dozen meeting all over Orlando and the Lake county chapter meets in Clermont on the 3rd Tuesday at the Fairfiel Inn. 

There a lots of great wholesalers locally that do it on a large scale and some workshops you can attend to network and help you get back in the game. I have a few great title companies too that really focus on investors (not just 'investor friendly') They will do double closes, assignments, close in land trusts, split HUDs etc. 

Best of luck!

@Shira Ellsworth Welcome to BP. You can utilize the 'find an agent' at the very top of the page and/or search members by location too. I would recommend joining one of our local REIA's to meet and network with local investors/trades etc. I am a long time member of CFRI and have found it very helpful.

Best of luck, let me know if you need anything else!

@Christine Callaghan

Reach out to Colleen Pacheco with Secured Insurance, she is in Orlando and is an expert dealing with trusts, LLC, flips, rentals and hard to place. 407-725-3413

Property appraisers website is all you need.