All Forum Posts by: Chris Romany

The final numbers are in, and the Orlando Real Estate Market thrived in 2015, with:

• 15% increase in home sales
• 9% increase in the Median Home Sale Price
• 8% decrease in Inventory

Full official report and statistics can be reviewed here. 

All of the above are indicative of an active market that should have investors drooling.

BP members, what do you think? Are you ready to jump in?

Michelle,

I became a Realtor here in Orlando as soon as I realized the breadth of tools that were available to agents to do research. As an investor, a lot of your money you make is before you buy, when you do your due diligence. The fact that you get to keep commissions on your own transactions is also a bonus. If you plan on being in real estate long term, I would recommend you get your license. 

One thing to note is that there is a cost not only to getting your license, but also an annual cost of operating as a realtor as well. Make sure you budget for this, and if you are fully committed, you will succeed.

@Andrew Thorell , you could not have chosen a better online resource to both educate yourself and network with others. I highly recommend the podcasts, as they provide a wealth of information in a condensed (audio) format. I am a full time Investor and a Realtor as well based in Orlando. If you are ever in the area, I would love to meet up with you.

To your success. 

Nada,

I specialize in helping Investors locate buy/hold properties in Central Florida, and am based in Orlando, Fl. Orlando is much more than a tourist destination. I recently prepared a brief summary report ("Orlando: You Don't know the Half of It") for a foreign investor; if you like, message me separately and I can send it to you.

Look forward to seeing you visit the fastest growing Metropolitan area in the state.

Chris

Bernie,

I am a Realtor as well as an Investor based right here in Orlando. I just wanted to underscore Leslie's comments made earlier; she is right on the money! Short term rentals are not approved for many areas of Orlando (including some of those near Disney); further, for some of the gated communities that are approved, the HOA fees and property taxes can be onerous, so make sure you check over all your numbers prior to investing in one of these units.

As far as an environment for vacation rentals, you probably can't beat the Orlando market. We had over 62 million visitors in 2014, and it may be even higher in 2015.

Best of luck to you.

Alec,

They will take everything into consideration. The two years of continuous employment is in your favor. If you have worked in the same field even longer,  that would help as well. 

If you like,  i can send you the name of an excellent mortgage broker here in Orlando who can answer your questions pretty quickly. 

Chris

Michael, 

Welcome to BP. Lots of great resources here, particularly the podcasts.

When you are ready to invest in Orlando and Central Florida,  let me know. I am a full time Rehabber and a Realtor as well,  and I routinely come across good buy/hold investments which I provide other investors with. 

Best of luck to you. 

There are conventional loan programs now with very low down down payments as well. Again, let the broker guide you on this.

There are a number of good mortgage brokers that I can refer you to, to get a loan to purchase the home.

Can I ask why you decided on an FHA loan?

My suggestion would be that you speak with an experienced mortgage broker,  describe your situation,  and let them help you choose the best financing for you. 

The purchase of your home also should begin with a written contract. If you don't have one yet,  I would HIGHLY recommend that you put one in place. I cannot overstate the importance of this point. If you need help with this, please feel free to reach out to me. 

As far as your Mom's role goes,  the answer to that question depends on her credit score, her employment status,  her savings status etc. Again,  a good mortgage broker will ask the right questions and set you up for success. After that,  it is all paperwork and lots of it. 

Hi @Lara Krakowiecki

Welcome to BP. You could not have chosen a better online research to both educate yourself and network as well. Would recommend you check out the podcasts, I found them really helpful. Central Florida is a great market to invest in, so you have lots of work to do.

To your success!