All Forum Posts by: Shawn McCormick

Hi @Kristi Troy, there are many out there and they don't keep them secret. A few wholesalers do their own as well as some flippers, check FB groups and meetup.com. If you are ready to really dive in and network with more people, I would suggest joining CFRI.net It is the local chapter of the National REIA, a non profit organization that educates, promotes local investing with local-like minded people that really want to help each other. Great place to meet all types of investors from tax deeds, flippers, wholesalers, property managers and so much more. It's only $175 a year and they have about 20+ meetings a month all over Central Florida. Some meeting are still on Zoom right now, but some are still in person.

Welcome to BP and good luck!

Hi @Eric Starks, There are a couple REIA groups in Orlando. I am a member of CFRI and really recommend it for networking, education events, access to all types of trades, mentors, PM's, and so much more. It's $175/yr and there are about 20 meetings a month. They cover Orange, Seminole, Lake Osceola, Volusia and Brevard..so there is always something going on.

In addition to that, many of the members have formed their own meetup.com or facebook groups that meet in person too and have a wide range of topics covered.

Hope this helps. 

@David Kr Welcome to BP and the Florida market. Orlando has been experiencing double digit appreciation for many years. The appetite for investors and the public in general has fueled our growth for many reasons. Our tourism has grown, we've attracted higher paying jobs, an aging population and now work from home continues to make it an attractive destination. 

If you plan to use the property as an airbnb, there are many factors to consider. 

Good Luck!

Hi @Trae Roy. Here is a very over simplified youtube video from my mentor. You don't have to find million/gazillionaires, just people that have some money sitting around in an IRA, solo 401k, Health Saving Plan or just cash that want to put it to work. You won't need millions (yet!), just enough to do the deal. Hope this helps. Lets connect.

Hi @Titus Hill I'll send you a message and see if I can help you with both of your questions.

1. @Trae Roy. There is so much private money out there, you have to network and ask people you know. 

How much are you looking for? 

How much interest are you offering? Are you paying that monthly or at payoff?

Will you pay points?

How long will the money be out? 

Do you have someone to draw up the note and mortgage?

What position will this person be in, what is their risk/reward if not 1st position

Is the money you are looking to fund the purchase? If so, where is the money for the rehab, holding costs and overruns coming from? What is the ARV (what is rehab takes 3 months longer, will you still make money

Do you have a prospectus to provide to lender to show your experience, the details of the flip, references. Are you doing the work or hiring a GC or subs, how are they being paid. Is the hard money person doing draws. Who's the insured on the property, what type of insurance do you have? I would have another 20 questions for you if you were to come to me for private money, so be prepared for these and much tougher questions if you want someone to trust you with their money. Not trying to say you haven't thought of all this, but your post is somewhat vague. As I mentioned, there is money everywhere, but you have to have the answers so that the people that have it can vet you and the deal.

Best of luck, hope this helps.

Hey @Matthew Raby look at meetup.com for Brevard REIA and others in that area. Also CFRI.net is a great resource and covers 6 counties in Central Florida. Most meetings are still, or going back to zoom meetings due to the pandemic still, but a great place to start and get connected so that you will have some valuable information and names of who you want to connect with when they go back to in person meetings.

Welcome back to Florida and good luck!

@Joseph Pack Jr..Tyler is correct, we are not allowed to 'self promote'. but if you look at our profiles or in the vendors list, you will be able to find some. I do have access to a global referral network that I can vet agents in any market to make sure they are a good fit for you. Hope this helps.

Hi @Easton Curtis congrats on doing your homework on the market. I would advise that the market could be much different when you are ready to purchase in a year. Although Orlando continues to be a great rental market and that won't go away, but any deal you are looking at now will not be around when you are looking in 2022. 

There are some variables that would help give some insight into what neighborhoods you are looking into. How long do you plan to live there, can you 'put up with' a C or D neighborhood for a year? Where will you go after? What loan type are you looking at and will you couple that with a Homestyle or 203k? Are you looking strictly for cash flow or appreciation or both. Who is your ideal tenant...college students, theme park employees, families etc, will you rent by the room? The College Park, Baldwin Park will likely be out of the purchase price range to cash flow efficiently, but there are plenty of other areas that could serve you well.

You say you are looking at MLS listings, are you working with an agent that understands your needs and investments in general. If they are no able to provide good insight to your questions, perhaps seek out someone that can better serve you.

Best of Luck!!

@Tyree Etheridge I'm in Orlando and can help with a couple great lender suggestions. Sending you a message.