Build-to-Rent Residential in Central Florida – Affordable and New

Many people ask us what the best way is to get started in long distance landlording.

THE ANSWER … buy an affordable, brand new property in one of the best markets in the country. 

We’re taking a deeper look into how one innovative developer is building new residential properties especially for investors like YOU. 

In this episode of The Real Estate Guys™ show, hear from:

  • Your good as new host, Robert Helms
  • His very affordable co-host, Russell Gray
  • Veteran Central Florida real estate broker, Jean Gillen
  • Build-to-Rent real estate developer, Wagner Nolasco

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Sunny Central Florida

All real estate markets are not created equal. With the current COVID-19 crisis, there are markets that have weathered the storm pretty well while others are in complete disarray. 

The thing is … people and money and business don’t just go away. They do, however, move around. The key is to see where they are going. 

When you can see that, you see that there is going to be an opportunity on the opposite side of a problem. 

Today, we’re taking a look at a market that’s cheap, cheerful, and affordable … Central Florida. 

As more people are realizing that they can work from anywhere, they are asking themselves where they would like to live. 

Central Florida has great weather, sunshine, and things to do. It has been one of our favorite markets for many years … and it’s not really one market. 

It’s a huge area with multiple exciting markets within it. 

Today we’re learning why it is that Central Florida continues to do well in spite of COVID-19 from two people who really know this market well … Jean Gillen and Wagner Nolasco. 

People want cheap and cheerful

Jean Gillen has been in this business for a long time as a realtor … and her specialty is helping investors. 

As a realtor, Jean understands that the investment market is kind of unique. She knows what investors are looking for and what they need to make a great deal happen. 

“The biggest thing we have found out through this pandemic is that one of the places a lot of people want to move to is Florida,” Jean says. “We’re cheap, and we’re cheerful.”

For example, someone moving from California and buying a $200,000 house is getting a home that is equivalent to a $1.5 million house on the West Coast. 

If you look at a Central Florida parking lot and take a look at the license plates, you can see where folks are moving from … Illinois, New York, Arkansas, Missouri. 

Central Florida has tons of new jobs in growing industries like space and tech … with over 400 new employers on the “space coast.”

And don’t forget about those lovely retirement communities and the fact that there is no state income tax. 

One thing that is important for investors to know and remember is that only 60% of the land in Florida is built on. 

Jean and her team target homes on infill lots at about a quarter of an acre with amenities and neighbors already in place. 

But what about hurricanes?

“We do not worry so much about hurricanes. We do have hurricanes, but we are able to prepare. And, with 2020 construction, the homes really can withstand a lot,” Jean says. 

In Florida, investors will want to purchase a cement block house. The facade can be different, but the cement block structure means you’re ready to weather any storm … and the resell value will be higher. 

Standards for 2020 construction reduce the amount of insurance you have to have on your home. The average insurance for a $215,000 home is about $49 a month. 

Why brand new?

A couple of years ago, Jean introduced us to Wagner Nolasco. Wagner is a home builder who has teamed up with Jean to provide the type of housing that is in demand for investors today. 

They’re building single family homes … ground up construction, brand new … but literally in the path of progress and growth in these Central Floridian communities. 

There are many advantages to an investor buying a brand new house. 

“I’ve done over 400 turnkey properties in my career, and from that experience, I tell my friends that are doctors and investors, ‘You can put a brand new heart into a person, but you can’t guarantee that the arteries are going to be unobstructed,’” Wagner says. 

When you buy a 40 or 50 year old house and fix it up, there are always going to be more problems down the line. 

When you buy brand new construction, you can safely bet that your capital expenditure is going to be minimal over the next several years.

Florida has one of the toughest building construction codes in the country … concrete block construction, brand new hip roofing, energy efficient air conditioning, windows that can withstand 140 mph winds, tile floors throughout, and the like. 

“It’s more bang for your buck,” Wagner says. 

Together Jean and Wagner have re-engineered what the typical individual moving to Central Florida will be looking to pay for housing and determined what they can build brand new to offer a win for both investor and tenant. 

By building the same model house on infill lots in various communities, their team can buy in volume and lower costs while creating a better product than a turnkey property. 

And, 80% of tenants that rent a new house will stay for three or more years. Less turnover means more money in your pocket, fewer repairs, and better quality tenants. 

To learn more about investing in brand new construction in Central Florida … listen to the full episode!


More From The Real Estate Guys™…

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.


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Podcast: Build-to-Rent Residential in Central Florida – Affordable and New

One of the best ways to get started in long-distance landlording is to buy an affordable brand new property in one of the best markets in the country.

In this episode, we look at how one innovative developer is building new residential properties, especially for investors.


More From The Real Estate Guys™…

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.


Love the show?  Tell the world!  When you promote the show, you help us attract more great guests for your listening pleasure!

Winners, losers, also-rans, and the clueless …

If you’ve ever been in a crowd when something surprising happened … or even in a game of musical chairs, you know …

… people respond VERY differently when stressed.

Some think, decide and act very quickly. Experience, confidence, coaching, and maturity are all factors.

Then there are those who act quickly … without thinking. It doesn’t always end badly, but it often does.

With the shoot-first-ask-questions-later group, it’s usually immaturity, inexperience, lack of training, arrogance … even desperation … that gets them in trouble.

Others take way too much time to think … and then act too slowly. They often miss the best opportunities or fail to avoid rapidly approaching danger.

This quintessential “paralysis of analysis” is usually rooted in inexperience and lack of training. But pride and extreme fear of failure is often the biggie.

And of course, they’re the folks who completely freeze under pressure.

They can neither think nor act … they’re the proverbial deer in the headlights … suffering emotional and intellectual overload.

These folks are often in denial … using avoidance and reliance purely on hope as their primary strategy … and abdicating personal responsibility for their results.

Which are YOU?

It’s a hard question. We all want to be Joe Cool … calm, confident, collected, decisive … taking effective action under pressure.

Yet we all have our limits. And sadly, we don’t often discover them or work at expanding them until we fail under fire. Not good.

This is a VERY timely topic because in case you hadn’t heard … the world’s economy and financial system is under EXTREME stress right now.

Some of it is likely to roll downhill onto Main Street real estate investors. So if you’re not stressed yet … get ready.

NOW is a really good time to look honestly at your own investing and emotional IQ …

… not based on your goals, aspirations, ideals, or vision … but rather on your actual history of performance under pressure.

If you’re younger, you may not yet have a resume of stressful investing or business experiences to reflect on.

So use what you have … experience in school, sports, games, and even relationships (they’re stressful!) … to find clues into your psychology.

It can be humbling. But it’s an important exercise.

It’s well known by those who study the emotional side of investing … the art of managing fear, greed, procrastination, and arrogance …

… successful investors are able to act decisively and diligently in times of extreme stress.

That’s because they’ve learned to stay level-headed, think clearly, rely on data and expert advice.

Those who FAIL to keep their cool under pressure usually only win small (if at all) … often lose (often big) …

… and sometimes aren’t even in the game at all … missing opportunities like a little-leaguer swinging against a big league pitcher.

There’s a lot of shift happening right now.

And with a polarized election season now added to the mix, it’s about to get a whole lot shiftier … and emotional.

Our friend Blair Singer says …

“When emotions run high, intelligence runs low.”

Your mission is to remain aware, prepared and rational … so when threats and opportunities pop up, you’re able to act wisely and decisively.

Easy to say. Sometimes hard to do. Yet VERY important to work at nonetheless.

In tumultuous circumstances, it’s natural to want to stop, sit down, or cling to anything or anyone familiar in search of stability.

Sometimes that’s smart. After all, there’s a reason money is moving into real assets like metals and real estate.

But it’s not smart to cling on to obsolete strategies, paradigms, or methods. As things change, you might need to change also.

How do you know what to think and do?

One of our strategies is to watch experienced investors … especially those with access to great advisors and quality research.

That’s why we noted billionaire Sam Zell’s and Warren Buffett’s moves into gold.

You may or may not be interested in gold … but the overt and implied reasons behind big money moves contain clues …

… about the economy, financial system, currency, and interest rates.

All investors, real estate and otherwise, are wise to pay attention to those things.

But while gold and real estate are both considered “real assets” … they are also very different.

Real estate is the opposite of a commodity or an asset class. It’s not uniform in all places. Every property is unique right down to the address.

Yet even seasoned real estate investors tend to think about real estate only in the context of their niche and markets.

If you’re into apartments, that’s what real estate is to you.

Or if you’re into office buildings … or retail … or farmland … or single-family residences … that’s what real estate is to you.

Of course, real estate is also more than a niche …

If you’re into residential real estate in New York, you’re having a certain kind of experience right now.

But if you’re investing in residential real estate in JacksonvilleCentral Florida or Phoenix, you’re having a VERY different experience than those in New York.

Overall, residential real estate … especially housing … is red hot. Housing starts are upHomeownership in the US soars to its highest level since 2008.

But that doesn’t mean every house in every market is on fire. Some are. Some aren’t. Some for good reason. Others … not so much.

It’s the ambiguity of real estate which creates the opportunity. And when shift happens, pockets of opportunity and disaster open up.

The important point here is real estate is NOT an asset class … and as things shift, there will be winners and losers.

So back to billionaire watching …

Reuters reports … sovereign wealth funds are re-thinking once-reliable real estate.

“The COVID-19 pandemic has forced sovereign wealth funds to think the previously unthinkable.”

Perhaps the same thing that happened to Warren Buffett and his position on gold.

“ … the funds are retreating from many of the real estate investments that have long been a mainstay of their strategies.”

“… shifting … funds increasingly investing in logistics space, such as warehousing, amid a boom in online commerce during the pandemic, while cutting back on deals for offices and retail buildings.”

Such shifts in behavior can have seismic effects on the global real estate market …”

Of course, if you’re investing in Main Street self-storage centers or mobile-home parks … you’re likely well-insulated from the “seismic effects” created by the equity repositioning of these behemoths.

But while their moves might not affect you … and you may not emulate WHAT they do … you can still learn from WHY they’re doing it.

They’re responding to the STRESS of COVID-19.

Do you think these behemoths think COVID-19 and its ramifications will pass quickly and the world will soon be back to business as usual? Or not?

After all, Buffett backtracked on one of his most outspoken positions and pulled a page out of Peter Schiff’s playbook … dumping dollars and buying gold.

Similarly, these sovereign funds are shifting HUGE long-term holdings from certain real estate niches (the projected “losers”) into others (the projected “winners”).

As shift happens bigger and faster, winning will require more intelligence and greater emotional control.

If you’re not already diligently developing those things … it’s probably a REALLY good idea to get started soon.

Notice that the big boys aren’t taking a Wait and See approach, but rather they Think and Do. That’s a clue.

Meanwhile … what’s clear is the world is changing quickly … the big boys are making their moves … and old paradigms are being re-evaluated.

Our experience, both good and bad, tells us the informed, level-headed, rational, decisive investors will most likely be the biggest winners.

Think and Do is better than Wait and See.

Boots-on-the-Ground Market Insights: Central Florida

Boots-on-the-Ground Market Insights: Central Florida

August 2020

 

Central Florida … a safe bet?

 

Russell Gray, Co-host of The Real Estate Guys™  Radio Show, and Wagner Nolasco,  investment property specialist of The Realty Doctors discuss how investors are taking advantage of a variety of strategically picked real estate investments in the growing Central Florida markets.

During this interview, Russ and Wagner discuss …  

  • Production vs Demand
  • Refinancing and Allocation
  • Location Migration
  • Economic Timing
  • And Much More!

Listeners receive important insights into what issues to be watching for as the effects of the Coronavirus unfold. 

Simply fill out the form below to access this edition of Boots-on-the-Ground Market Insights: Central Florida … 


Lifestyle Investing for Family, Fun and Profit

You invest your money to make more money … but there is so much more to life than cash. 

Still, you have to have a way to fund your fun. Some say invest now and play later … but why not invest now AND play now, too?

We’re talking about lifestyle investing. 

Beautiful properties are available for you to live in … part of the time … and rent out for the rest. 

In this episode of The Real Estate Guys™ show, hear from:

  • Your playmaker host, Robert Helms
  • His playful co-host, Russell Gray 
  • The Grove Resort’s Nick Rohrbach

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Lifestyle investing is in style

You can find an investment property that pays you to own it … a place where you can spend time and enjoy yourself. 

It’s called lifestyle investing. 

When most people invest in real estate, they don’t think about living in the house that they choose as a rental. 

But so many people own a house that they USED to live in … but now rent out. 

Lifestyle investing turns this idea on its head and blurs the lines to bridge the gap. 

You find a property that you would love to spend time in occasionally … and in the meantime, it creates income. 

Most of us invest in rental properties to create wealth so that we spend that money somewhere that we enjoy. 

With lifestyle investing, you buy and asset what you want to enjoy yourself and organize it so that it pays YOU to own it. 

A unique rental niche

In a typical rental property, your tenant normally moves once a year. But a lifestyle property is usually rented by the night … which makes management more expensive. 

On the other hand, while a monthly tenant might be paying the equivalent of $20 a day … a nightly vacation renter could pay several hundred dollars. 

You’re paying to have a hands-off experience … and you want to deliver an exceptional service level. 

One of the beautiful things about this niche is that you’re marketing to affluent people. You have customers who aren’t necessarily as burdened when economic times turn backward. 

Another great thing about resort properties … renters are typically tourists from out of town … which means you aren’t as reliant on ups and downs in the local economy. 

And when you have a really unique property, you can attract people from all over the world. 

Don’t get us wrong … it’s not just the world’s most wealthy we’re talking about. 

Some people save all year long for their vacation. They are frugal the rest of the year … but when it is time for vacation, they want to have a good time. 

Let’s be clear … lifestyle investments are NOT timeshares. 

A timeshare isn’t really real estate. It’s more like a prepaid vacation. You don’t have equity ownership. Lifestyle investments CREATE CASH FLOW. 

If you don’t have enough cash to get started, resort properties can be the perfect opportunity for simple syndication. 

With a few owners, you can all use the property for a certain amount of time each year … and share the profits the rest of the time. 

Factors to consider

When selecting a resort property, you need to decide how the seasonal market is. 

It’s like being in retail. If you have a strip mall, you know your tenants lose money during the off season … but they make it all up during the holidays. 

If your property is a prime skiing location … think about what happens to it during the summer. 

You need to look at the property as a totality of ownership … and then you have to be really good at managing cash flow. 

The good news is that you don’t need to go in blind. It’s like we always say … if you’re going into a market you’re not familiar with … BUILD RELATIONSHIPS. 

In this case, you really want to build relationships with property managers

They know the demographic. They know the trends. They know the inventory … and they really know the income. 

It is so important with any deal … and especially with lifestyle investments … to do your due diligence. 

But once you do … if you choose your market correctly … you’ll discover a market that is robust and not hung up in too much seasonality …. and then you choose a product that makes sense for you. 

Rentals at The Grove Resort

We caught up with our friend Nick Rohrbach at The Grove Resort to learn more about a really interesting lifestyle investment opportunity. 

The Grove is an amazing resort property in Orlando … amazing facilities, a 7-acre water park, a four-star spa, and a stone’s throw from the Disney theme parks.

The people who visit here are all about the lifestyle. 

And for investors, it means owning a beautiful, professionally managed resort property in one of the hottest markets in the USA. 

Nick says that many tourists come to spend their days at theme parks … but then they want somewhere comfortable and luxurious to come back. 

What makes The Grove a unique opportunity is that the big ticket amenities … including the water park … are included in the rate. 

“That’s what makes our occupancy higher than average, and average occupancies in the area are already fairly high at 77.5% in Orlando,” Nick says.

The Grove caters toward a wide variety of guests … there are spaces for weddings, family reunions, and small conventions. 

The suites at The Grove are all two and three bedroom condos … perfect for families or employees. 

Units are completely turnkey … and managed by a team that has been in business in the area for over 40 years. 

“And Orlando really is a year round destination,” Nick says. 

Ultimately … like any investment opportunity … you need to find a deal that works with your personal investment philosophy. 

Interested in learning more about The Grove? “Come on-site and stay with us,” Nick says. 

To learn more about lifestyle investing and opportunities at The Grove Resort, listen in to the full episode. 


More From The Real Estate Guys™…

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.


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Cashing In On the Space Race – New Homes in a Market Ready for Lift-Off

The space race is on!

No … we’re not talking about the great cosmos overhead. We’re talking about a race for space in a thriving market. 

Central Florida is thriving thanks to international tourism, low taxes, strong population growth, and great infrastructure. 

Billions of public and private dollars are making their way into this market … We’ve liked it for a long time … and it’s getting even better. 

Discover how YOU can cash in on this space race as we hear tips from an on-the-ground expert. 

In this episode of The Real Estate Guys™ show, hear from:

  • Your out-of-this-world host, Robert Helms
  • His out-of-the-way co-host, Russell Gray 
  • Central Florida investment property specialist, Jean Gillen

Listen

 


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Welcome to the “space coast”

Today we’re talking about a market that is well-positioned for growth and equity … it’s the “space coast” in Florida!

Central Florida is one of the markets we’ve loved for a long time … every time we visit we see cranes helping build new projects. 

When we analyze a market, we look at the dynamics in supply and demand, capacity to pay, and what’s going on in mortgage rates and demographics … and don’t forget taxes and incentives!

There are so many things happening right now in this particular market that create an environment where equity can really POP. 

One big story of this area is … the space coast. 

For many years, the space industry was 100 percent a government entity. You had NASA … and that was it. 

But when the shuttle program stopped … everything changed. 

Individual businesses and entrepreneurs came in to fill the void and pick up the slack … and things really blasted off!

We see a lot of similarities between what is happening in Central Florida now and what happened several years ago in Silicon Valley. 

These organizations are growing and bringing in a new workforce to fill jobs … but there aren’t enough houses. It’s a great opportunity as an investor to help find a solution. 

Growth and opportunity in Central Florida

Our good friend Jean Gillen and her team at Gillen & Associates are Central Florida investment property specialists. 

For nearly 30 years, Jean has been actively helping investors cash in on opportunities in this marketplace … she knows this place like the back of her hand. 

For Jean and the investors she helps every day, the space race is real. 

The Central Florida market is uniquely nestled within an hour of three international airports … Orlando, Orlando Melbourne, and Orlando Sanford. 

It’s the number one visited place in the world … 75 million people come through each year. 

Some are passing through to other connections. Others come for theme parks and to hop on cruises. And the rest … it seems … come for NASA.

And so many of those people come to stay. 

Over 350 space industry companies have moved to the market … after all, it’s the only place in the United States from which you can put a man in orbit. 

A huge amount of millennials have followed those companies for job opportunities … but baby boomers are moving in as well. 

With no intention of retiring any time soon, baby boomers want to live around other baby boomers. The 55+ communities come calling … and they are cheap and cheerful. 

But it’s not just the space industry that has come to town. Infrastructure has to grow to serve all those new residents … like doctors, retail, and restaurants.

Florida is also a prime spot for tax incentives … and there’s no state income tax. 

“I don’t think there is a better economy in the United States right now,” Jean says. “Oh, and the weather’s good.”

Another important thing to note, Jean says, it that many of the people coming to the area aren’t necessarily coming for a full-time gig. 

Many of the workers in these industries come on a one or two year contract … which means that these folks will always be tenants … and you can plan on a steady flow of tenants for rentals.

Properties with potential

Most of the houses Jean and her investors work with are new builds that come in at around $210,000. Insurance … including hurricane insurance … comes out to about $600 a year. 

“The hurricane risk in the area is very low. That’s why the insurance rates are so low. It should make you feel fairly safe on that front,” Jean says. 

Another unique factor in the Central Florida market … it’s actually a better deal most of the time to buy a new build over a resale house. 

And tenants are definitely attracted to new … and all the amenities that come with them … granite countertops and stainless steel appliances anyone?

Jean also feels it’s important to keep most of the homes owner occupied. 

“It keeps the neighborhood up, so we usually keep the amount of houses owned by investors in a development at 10 percent. It works out so much better that way for everyone,” Jean says. 

But as with any market, there are unique considerations to keep in mind. 

Jean says she never helps investors buy lots that are in flood zones. The properties have to be turnkey … and a good school district is always a plus. 

Many of the tenants in the area work several days a week from home … so extra bedrooms that can function as a home office space are a must. 

And Jean is all about beautiful backyards … most lots are a quarter of an acre … and there is no HOA. 

Typically, tenants stay for three years … and tenant-landlord laws are very landlord friendly. 

Joining the space race 

Jean and her team work exclusively with investors … but those investors come from a variety of situations and backgrounds. 

Some are 30 years old … others are 70 … but they’re all looking for a profitable deal. 

We’ve said it before … and we’ll say it again … the key to a great deal is finding a market that makes sense, finding the right team, and THEN finding the right property. 

To learn more about Central Florida … and to find out if this it the right deal for you … listen in to the full episode. 


More From The Real Estate Guys™…

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.


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2020 Central Florida Market Update

2020 Central Florida Market Update

 

The Sunshine State is HOT.  High demand, impressive infrastructure, and unbeatable amenities draw millions of people to Central Florida … creating HUGE opportunities for investors.

Jean Gillen has spent over 30 years learning and living the real estate business in Central Florida. She specializes in connecting investors with all this growing market has to offer … and now she is sharing her insights with you!

The key to a successful real estate investment is demand … something Central Florida has in spades. It’s the prime target for Baby Boomers migrating to sunnier shores AND hosts one of the largest shares of the nation’s millennial population.

It’s easy to see why Central Florida is the place to be. Lifestyle amenities abound. Cost of living is low, and state income tax is non-existent.

Dive into this webinar to discover:

  • Why Central Florida is a cheap and cheerful place to live and invest
  • How job growth and impressive infrastructure are creating an economic boom in the Central Florida market
  • Which up-and-coming communities could be a promising start for investors

See strong monthly profits, take advantage of high demand, and secure cash flow with a stable tenant base in Central Florida.

Get access now to Jean Gillen’s Central Florida Market Update. Simply fill out the form below.

This webinar also contains information from the 2019 Central Florida Market … The good news is it still provides insightful information for today! To stay on top of the latest updates, be sure to contact Jean’s team here


Central Florida Market Update Webinar

Central Florida Market Update Webinar

 

Presented by
Investment Property Specialist, Jean Gillen

Orlando and Central Florida are one of the best real estate markets for rental property investingJean Gillen and her team are experts in the Central Florida market.  After all, they’ve been active in the market … focusing on serving the unique needs of real estate investors … for three decades.

And as Jean explains in her 20 minute market briefing, there are lots of reasons to like Orlando and the surrounding communities for residential rental real estate investing!

So for a first hand report from your boots-on-the ground market expert …

 

Simply complete the form below and order immediate access to Jean Gillen’s Central Florida Market Update …

 

The Realty Doctors – Gillen & Associates – Jean Gillen & Wagner Nolasco

The Realty Doctors – Gillen & Associates – Jean Gillen & Wagner Nolasco

 

Investment property specialists who KNOW the Central Florida market … and want to share their expertise with you!

For nearly 30 years, Jean Gillen has been helping investors cash in on Central Florida!  She knows this market like the back of her hand.   

In partnership with Wagner Nolasco, who has over 18 years of experience in hospitality, commercial construction, and development … This dynamic team is a must-know in your power-Rolodex (Who even knows what a Rolodex is anymore?

The Real Estate Guys™ Radio Show listeners are taking advantage of a variety of strategically picked real estate investments in stable, growing Central Florida markets… 

From turnkey homes to huge development projects designed for syndicators to step in and take-on … Jean and Wagner have the knowledge and connections! 

This team works ONLY with investors … so they know the challenges you face and the deals you’re looking for.

And pssst … They’re open to exploring joint ventures with syndicators!

Plug into their vast network of property managers, insurance companies, lenders, builders … and more! 

They’ll help you find the right product or project for you … Whether rent-ready and turnkey single family rentals, apartments, build-to-rent homes, and/or development projects

Talk with the experts who have decades of experience in this market!

 

Simply fill out the form below to contact The Realty Doctors’ team …


Here's what your fellow listeners are saying …

"I am very impressed with the Onboarding processes and their people.

Great group to recommend." - Dave., 

Profitable Niches – Single Family Rentals

In our final episode of our Profitable Niches series, we’re ending where many folks probably thought we would start … with single family rentals.

It’s no mystery why this is the most popular way for new investors to enter into real estate investing. Home ownership and single family homes are something that everyone knows well, and it makes sense to start with what you know.

When it comes to investing in single-family rentals, our guest this week knows her market inside and out and has some tips for picking the best deals that you’ll definitely want to hear.

In this episode of The Real Estate Guys™ show you’ll hear from:

  • Your singular host, Robert Helms
  • His family-friendly co-host, Russell Gray
  • Guest, Jean Gillen, real estate agent in Central Florida

Listen

 


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Broadcasting since 1997 with over 300 episodes on iTunes!

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Why single family rentals make sense

It’s impossible to not interact with the real estate economy in some way. Whether you own your own home, rent, or have investment properties already, you’re participating in the real estate economy.

Single family rentals are a great way to enter into the market and interact as a beneficiary. So, rather than just paying rent or a mortgage, you can collect money from tenants. You’ll get cash flow AND build equity over time.

In the US economy especially, the single family market is given high priority by the government. There are incredible tax benefits and incentives given to people who own housing, even if they are renting it out.

After all, having affordable, accessible housing is an essential need and a key part of the nation’s economy.

But, single family rentals are also accessible to small-time investors or folks just starting out. They aren’t very efficient, so larger investors don’t have the ability to cherry pick individual listings. That’s how smaller investors can do the research to find great deals and still enter the market.

One of the first things we talk about with any kind of investment is understanding your investing philosophy. Then, build a top-notch team … a realtor, lender, and other experts. Finally, find the right property to buy.

Our guest this week is a realtor who specializes in investment properties. She knows all about the importance of building a team and finding investments that make sense.

The secrets of successful single-family rentals

Jean Gillen is a realtor in the Central Florida market. She helps investors get good deals. And, when you’re looking to build an all-star team to help with your investments, you want a realtor like Jean who knows what investors are looking for in a rental.

“The wonderful thing about selling to investors is that it’s all on a piece of paper,” Jean says. “If it doesn’t work out on a piece of paper, don’t buy it.”

One of the pitfalls some new investors and certainly new homeowners make is getting too emotionally attached to a kitchen or other part of a house. It can lead to decisions that don’t make sense on paper.

That’s why Jean works with the types of clients that she does.

“I like working with investors because I don’t have to please the woman or the man,” she says. “It’s more fun to find that great investment for people.”

In fact, Jean says she has clients she has never met, and they’ve purchased properties they’ve never seen in person. While this may be a paradigm shift, it goes to show that taking the emotion out of purchasing a property and seeing it as the investment vehicle it is can be a good philosophy.

One of the other things Jean sees as key to a successful investment is a good property manager. Jean has several management companies she works within her market and suggests her clients interview all of them.

“If you feel you can get along with the manager, then it’s going to make your life much easier,” Jean says. In many cases, your property manager will pay the taxes and HOA fees for you.

And, of course, finding a realtor who understands investment property is worth their weight in gold. They’ll be a valuable resource to find additional properties and even to manage current ones and solve problems with property managers.

Single family rentals in Central Florida

Single family rentals are all about the market. Find a strong market and the right realtor to guide you through, and you can capitalize on what single family rentals have to offer.

Jean specializes in the Central Florida market. She knows the streets and neighborhoods where clients can find the best deals. AND she knows the tenant demographics.

Even though Florida is known as being the place for retirees, she says, the average age of residents in Central Florida is 37. Many tenants today were homeowners before the economic downturn in 2008 and have decided they’d rather rent.

“These are just normal people. They could be school teachers or work in hospitals,” Jean says. “I rented a house to a doctor because he worked at a new hospital and didn’t want to buy for the first two years.”

Jean also prefers Central Florida because it’s landlord friendly. Thanks to Florida’s governor, more businesses are coming to the state and drawing in a larger workforce. It’s a hotbed of activity for aerospace, university students, and many other industries.

In fact, Jean says that home values in Florida are expected to rise 35 percent by 2021, meaning now is a good time to consider looking at the market. With new homes coming into the market by the end of summer, Jean is excited about the new opportunities available.

At the end of the day, Jean believes that the deals worth doing are the ones that make sense on paper. She’s put together a presentation on the Central Florida market including who is renting and how to find properties that will cash flow well. We’d love to send it to you!

Send an email to centralflorida [at] realestateguysradio [dot] com and you’ll receive it right away along with Jean’s contact information to learn more.


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The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to help real estate investors succeed.

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