How To Find Real Estate Deals | Orlando Market

When you think of Orlando Do you just think about theme parks and tourism?

I need you to think again. In today’s deal finding Friday, we’re going to be uncovering the hidden gems of the Orlando real estate market. Whether you’re a local or looking to invest from afar.

This is an insider scoop you can’t afford to miss. Welcome back, everybody. I’m Nathan Payne, your guide to navigating the landscape of Real Estate. Today, we’re going to be zooming in on Orlando, a market that has a ton of opportunities for real estate investors.

Join me as we explore these things. We’re going to explore the trends that are shaping the real estate market in Orlando, we’re going to be exploring undervalued areas in Orlando that are ripe for a real estate investing, and I’m going to give you tips for finding deals in a market known for its competitiveness. But before we dive in, if you’re watching from Orlando or any other state, do me a favor, drop a comment below. I really want to know where you’re watching this from because as we know, you can invest in wholesale from anywhere in the United States.

Let’s see how many of you that are watching this video, no matter where you’re from, are eyeing this hotspot of Orlando. All right, everybody. So join me as we explore today how to get a deal in Orlando and exactly what steps to take, I’m actually going to take you through a live call a live walkthrough video of how to use privy to find a deal and get a deal done in Orlando. So let’s check it out. But before we dive into this video on this live call, do me a favor and go join my free Facebook group called painless flipping.

It’s a community of investors where you guys can network and do deals together. So go ahead and join the Facebook group right now. So let’s dive into this live call and let me show you exactly how I’m able to get deals in Orlando using privy so right now guys, I’m focusing in the Orlando market out Ocala that is outside of Orlando is a really good area. So all I did is I typed in Ocala and then I went to deals right here and I filtered it for deals that were 50% of ARV according to the system, so it’s super easy.

It just finds the opportunities according to what you have filtered. Okay, I didn’t really put any crazy filters other than 50%. I want to see what was available. So right here we have two opportunities and we can take a look at these opportunities and say okay, what would the ARV be what comps do we have? Investor comps? 299.

Let’s take we can take a look at this one and see what it looks like rehabbed you can see this isn’t completely flipped, but it’s a good comparable and shows you other comparable. Other sold in the area. Okay, so 299 As you guys can see right here, so guys, we’re just taking a look, it looks like 299 is a little on the high side, according to this like 272 73 So we’re looking at the property I have, I’m gonna make a call, we’re gonna inquire about it. I’m just gonna let them know, Hey, I’m an investor out of Utah. kind of figure out what we can do with this deal. Okay, that’s the goal here. We want to call guys it’s all about conversations.

It’s all about how many people you can talk to you haven’t done a deal. You’ve got to like look yourself in the mirror and say okay, how many people have I really talked to oh my gosh, this house needs quite a bit of work. That’s the thing we can come in there and talk to them. Let’s see what I’m curious to see what they say in the description just just to learn this home offers endless potential of course it does this fixer upper contact your trustworthy realtor.

Okay, so it’s Daniel. Okay, usually they have the I like to look up the the phone number of the agent itself, not the office, because then you usually get someone and it just takes a little bit longer. So I just go type in the name. That might be his phone number. Let’s just double check that it’s not three to two. Okay, let’s call. Let’s see if this is our guy right here. Hey, Daniel, how you doing? My name is Nathan and I was calling about your property that I see they have listed on 3116 thing southeast Eighth Street in Ocala. Yeah. Is it still available?

Yeah, we’ve got we’re negotiating a contract right now. Okay. Yeah, we got quite a few offers on the property. And so we’re negotiating.
Got it. Okay. Well, do you have a couple of minutes we could chat about it. I’d like to ask you some information about it. All right, well, just to kind of let you know I’m actually I live in Salt Lake City, Utah, I’m an investor and right now the markets a little stagnant.

So I’m Florida’s is a good place that I’ve relocated to. So I’m investing in this area just to let you know, be aware, like where I’m at, but you know, I’m taking a look at this property. It looks like it needs like, like a complete rehab, like roof. Pretty much everything is Is there anything that I’m missing on like what needs to be done other than like, maybe even potentially a good job?

I mean, it’s a it’s a pretty major rehab, all the big ticket items. I mean, it’s got multiple holes in the ceilings. A tree King died, you know, a while back and waters gotten in there and ceilings have fallen and all that kind of stuff. So it’s it’s a pretty major rehab.
Yeah. Do you have an idea with all the people that have come in already kind of made offers? You kind of didn’t have an idea of like the the estimate on the rehab budget?

I don’t know. I mean, nobody’s given me an estimate at this point in time. You know, what I told them at the very beginning, you know, when I was kind of talking to sellers, about all their different options, you guys could rehab that. And, you know, I think on the low side of things, I don’t I don’t even know this is realistic, right? You know, those kind of things? I would say 60,000. But I would probably play more than 100,000 Yeah, 60,000 it probably won’t go that far. Especially if you have to do roof you’re gonna have to take care of like all the flooding, or not the flooding, but the water damage. One thing that really all I do is I see if the numbers if it pencils out if it makes sense. And there’s enough profit in there for me, I looked and I think like 299 was like on the high end of what a like ARV or what properties could sell for after they were fixed. Is that accurate? Or is that little low? A little high? In your opinion?

Yeah. You know, like, depending on the quality that you put into it, depending on what you do, how you do it, all that kind of stuff. You know, on bare bones side of things, you can bring it back up to livable standards, and you can sell it for 220 or something like yeah, you put a lot of work into it, you know, and make it really high and a lot more.

Yeah, that’s what I’m kind of seeing by looking at the comparable right now. Like two to 20 is like livable, maybe like 250 to 70 seems to be but these are the ones that are gone for like 270 seem to be like Ranch, that Rambler style, this one’s got a little different kind of layout, it seems like around here, we kind of go by square footage, okay. Versus style. Yeah. And so people aren’t super picky on styles, a lot of times, that’s good, like the interior finishes is really what people go for.

That’s kind of that’s exactly how it is here in Utah. Like it doesn’t really matter if it’s, you know, multiple stories or one story. Okay, so just taking a look at I’ll run my numbers, but just kind of from my experience on like, the numbers, if I were to buy it at the asking price of 140. It seems really tight, especially if you’re supposed to like if you get it for 140 and put 100k, for example, then like obviously, there’s no margin. So without offending the seller with like an offer that they’ve already received. And they’ve said no, like, where are they kind of open to where I run my numbers, I put it in and see if it works for me. You don’t have to tell me what other offers are. But just kind of curious.

So we do have a full price offer that we’re working on right now. Take a look at the house today is someone who is a contractor and they’re not looking to flip it. They’re looking to buy it and fix it up and live in it. Wow. That’s the best buyer. Yeah, yeah.

So it’s like they’re willing to pay a little bit more for it, of course, but the average, I would say the average offers that we’ve gotten the 110 to one. Right.

Okay, it sounds a little bit more what I was thinking, Is there anything like if that 140 buyer, the full price offer doesn’t go through? Is there anything that like would stand out to them and make them feel like it’s more beneficial to go with me versus others? Is it like speed?

Is it cash? Is it Is there anything specific everything and gotten? Actually not like theirs? So they have a family member? That’s actually still living in the house?

Got it? Yeah, it looks lived in right there. Yeah. And so like, we need about 30 days to close on it. And other than that, I mean, that’s, I mean, it’s kind of pretty standard. Everybody’s done that everybody’s offered to pay title. And so it’s yeah, I’m not sure. Other than price, I’m not sure what really could stand out.

Have they considered I’m sure you’ve been approached by this by many other investors, but like, do they own the house outright or have a mortgage? And if we could pay, pay out their equity, they would leave the note in place? And we could just take that over? They’ve been talked to you about that? Yeah, there’s no note in place, it’s paid off? Do you think they’d be open to something like that if I get paid, because I’m gonna get hard money on this.

So if I don’t have to pay 12%, two points over the time period that I flipped this and I can pay like less of interest? They could potentially, you know, I could pay them, they could make a little bit more. But again, I don’t know if that’s something that they’ve already considered or been approached about. It enables me to pay a little bit more. Yeah, they have not been open to that scenario is it was a mom and the Husband, husband still living in the house.

He’s the family member the facility and she was talking about it, she passed away. And the husband continue to live there because he inherited a house when he wasn’t paying taxes. And so the sons came along, basically, when he was basically about to get kicked out. And they said, Okay, we’re paying the taxes on the house, but you’re assigning over, like, all the rights to sell the house. Make sense?

Yeah. And so we’re gonna sell it. And so that’s kind of what they are as they just want to sell it a ton without a doubt and move
on. Yeah, so getting an extra five or 10 isn’t worth the hassle of being, you know, for them if they can just get it done.
That’s correct. Well, is there a time by like, if I make my offer to you? Is there a time that you’d let me and the other buyers like know that they’ve made a decision? Like is it the end of the day? Is it next week?

I’m hoping by the end of the day today. The buyers are going to see it

Okay, well, I’ll run I’ll look at my numbers again and see if it makes sense. I got like I’m putting the rehab not like the 272 Nine and putting it like after I fix it like 250 to be conservative, but I’ll look at it and I’ll make you my offer and but by the way, do you now that I’m more active in this area instead of like folks Sandy, Utah, do you come across a lot of opportunities like this that don’t really work for a conventional buyer but potentially work for a flipper? Yeah, I mean, I do periodically.

I’m more specialized in sales of, you know, different different styles of homes. That contacted me, but I do I come across them periodically. Yeah. Okay. I’m more than happy to take a look at. Yeah. So if you’re looking for something in the area, I’m more than happy to help you out with that. Yeah,

I’d love that. Because, for me, like the benefit that I give, I work when I work with agencies, like I’m very quick to give you an offer, like I know, sometimes, like sellers want, like, hey, what would a cash offer look like? And it’s beneficial for you as an agent just to be like, well, it’s a lot lower than what you probably think and and I can at least give you like a good good idea of what I could pay.

So either they accept it, and I can pay your commission, you can take whatever, both sides of the commission or whatever, or I just get you an offer, and then that helps the seller, you know, know what’s, what’s out there. Well, I’ll text you right now, this is my cell phone, but I’ll text you for my work phone, and I’ll give you all my contact info. And then let’s keep in touch because I’m aggressively looking for something you know how it is right now?

Other video on the property I can send over to you if that’s helpful.

Yeah, that would be extremely helpful. So I’ll text you for my work number, and I’ll send you my email. And if you just send me anything over and let’s call it connect on like some social just so you know who I am and everything. Yeah, sounds great. Okay, thanks so much. But all right, everybody, bam. So we are looking, I’ll run you through this property, what it looks like. So this house, a 140, is cheap, really distressed, very, very, very, very distressed. And we’re seeing some comparable, but majority of them, that’s like the investor comp is like the highest one. So we’re looking at this deal at the 110 range.

So according to this, according to my numbers, everybody, there’s a 13% margin and there’s a flipper, that potentially would do it. Because there’s enough margin, my flippers want to be around like 10% higher, so I could come in there, get it for 110 and wholesale to them for like 117. And there’s still a 10%. Most people to be honest, that I know won’t do such a big rehab and make such a little margin some flippers will make they’ll want to be about 10% or above of the ARV price. If they can make 10% of the resale value.

They’ll do it some want to be a 10% of the amount of money that they put into the rehab. So it really depends what kind of buyer you have. So that’s it for today’s live call and look into the Orlando market. Thank you for joining me. Remember every market has its secrets and it’s all about finding them. All you got to do is take action and you’ll do deals I promise. See on the next one