All Forum Posts by: Chris Romany

Sylvia,

Opening a business is not difficult; you just go to the Sunbiz website and you can open it as fast as you can type in the information. However, I would encourage you to talk to a CPA so you can get some guidance to what kind of business entity is most suitable for your plans.

@Mike Collier,

Welcome to BP. This is a great online resource to improve your education and network as well. I would recommend the podcasts in particular, as I found them most beneficial.

Best of luck to you.

I am based herein Orlando, but never heard of this company.

David,

5% is actually close to the current vacancy rate in Orlando, as there is a shortage of inventory.  However,  I always have my clients budget for 10%; same goes for management expenses at 10%.

@Jason Roberts,

I agree with the numbers quoted by David Roque earlier are pretty consistent as what is applied here in Central Florida. As a full time renovator/rehabber here in Orlando (and Realtor as well), I currently offer investors 40-50% profit, or 8% interest (six months minimum) for SFHs. The investor's appetite for risk will determine which route they choose.

Camille,

One quick piece of advice. When you join our local REIAs, make sure you leave your credit card at home the first several months,  as you will be confronted with a lot of information and training for sale,  much of which you can learn as you go along for free.

To your success. 

Max,

Welcome to BP, you could not have chosen a better online resource for education and networking. I found the Podcasts to be the most helpful for me.

Best of luck to you! 

The current medium sale price of a house in Orlando is $182K.

Camille,

Welcome back. I can reiterate that the Podcasts are a fantastic way to re-educate yourself. You can also join one of our local REIAs as well, as their cost of membership is low compared to the education and networking opportunities.

Are you talking about property prices?