HOUSINGNEWS REPORT
ORLANDO REAL ESTATE RECOVERS ITS MAGIC
SINGLE FAMILY RENTAL RETURNS BY COUNTY: 2018 2018 ANNUAL GROSS RENTAL YIELD 28.6% 2.3%
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targeted certain market like Orlando, performing cosmetic work and then flipping the properties. “You have to be a marketer. The buy- and-hold property deals, or the flips that don’t need a lot of work, when they’re listed on the MLS there are so many people looking for them,” said Robin Daniels, president of the Central Florida Realty Investors Association. “It’s hard to find them. You have to find the deals nobody else knows about. It’s doing the marketing that’s not on the computer. It’s talking to people and sending out direct mail.” With the popularity of all the flipping shows on television these days, Daniels said people are still doing flipping, but even the rehabbers and landlords themselves who find properties are having a difficult time finding good people to do the repair work.
Daniels’ investment portfolio breaks down to 60 percent rental properties that she manages herself, and 40 percent real estate notes. She’s especially fond of seller financing when it comes to note investing. “I feel so bad for anybody who needs to rent a place. I literally get 100 responses in days of advertising a place for rent. We literally rent things so fast because there’s not enough rentals out there and the rents are going up significantly,” she said. Nimkoff noted that rents in Orlando continue to outpace inflation, with the average market rent at around $1,264 for all rental types, an 8 percent increase over the prior year. Potential gross annual rental yields for single family rentals increased or stayed flat in 2018 compared to 2017 in all four counties analyzed in the Orlando metro area, according to the ATTOM Data Solutions Q1 2018 Single Family Rental Market Report.
Daniels, whose real estate investors club boasts 1,400 members, said that she is not seeing the speculation that occurred back in 2005 and 2006. Her focus with the association is to bring to the membership people with skill sets that other investors may not have in order to make sure her members stay as safe as possible in the deals they make. When it comes to investing in the Orlando market, Daniels’ advice is to remain patient. “Do not get discouraged, because there are deals out there. It’s just different ways of finding them. We’ve gone through these cycles before. It’s just harder to do it but they are definitely out there. You need a lot less than 100 homes to be rich. It’s buying them smart and with the right terms,” she noted.
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SEP 2018 | ATTOM DATA SOLUTIONS
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