Lessons Learned in Flipping a Home in Orlando
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- Опубліковано 30 вер 2024
- It's been a year since I purchased an investment property in greater Orlando. Winter Park to be specific. It needed a TON of work..but it's completed! Here's the before/after, plus what we ended up doing with the home.
Thinking of selling a home in greater Orlando? We'd love to help! Visit TheOrlandoReal.com/youtube to get started
#movingtoorlando #winterpark #florida
Ken Pozek is a licensed real estate agent with the Pozek Group at Keller Williams Elite Partners. License number BK3313335
Fantastic honest vid , thats is why people like you and what you have built in Orlando. Keep it going man.
Thanks! This one was a hard one for me to shoot. If would’ve taken the advice that I give my clients, I would’ve been much better off. Still had to show the good, the bad, and the ugly. Hopefully it’s helpful to show the harsh reality that comes in real estate sometime
Excellent honest video. Not everything is sunshine and rainbows and it's good to see the good and bad. Glad you were able to find a good path forward with the rental.
Rented it because no idiot would ever buy it
dude the permitting system is a fucking nightmare here in orange county... they wanted all this weird shit to patch concrete from a job i paid $9000 and had the company pull permits for. but i'm thinking: isn't patching the concrete part of the initial job for running sewage lines??? wtf. They also don't even know answers to questions then put you through to someone else and that person doesn't answer... i just gave up and patched it myself after literally talking to a code enforcement guy who was like "yeah man we're understaffed just do it and nobody will know"
$3,700 a month in rent?! WOW - can't believe people would throw money away like that. You're lucky.
Wait until you look at what 2-3 bed apartments get in WP… 😳🤯
The house looks great! 🙂
The finished product was really great! No doubt about it
Best real estate youtuber in Central Florida!
Super kind! Thank you 🙏🏼
Thanks for such a candid, honest video, Ken! You rock!
Holy cow, that house for 700-750k? It's becoming Long Island house market.
Yea, beautiful house, but definitely not worth 700k. Real estate is taking advantage of money coming from up north and Cali
@julioinfanteramos6535 at least two buyers would disagree with you and would’ve paid over :)
@@kenpozek , has some of Orlando house markets started to burst bubble yet or is it still sellers market ?
@kenpozek Ken, but were they locals is my question. If so, it is really an overblown market. I know is Winter Park but not all Winter Park is nice🤷🏽♂️
@@julioinfanteramos6535750k for any house in this market is insane. Housing prices are going to fall hard. Realtors will continue to lie to us. Don’t fall for it. The time to buy was in 2020-2021 when rates were 3 percent. If you buy a house now expect to lose your tail.
Looks like a big job, sometimes it better if you can find a cosemtic flip so you dont run into permit and contractor issues if your able. When I am lucky I find them with low ball offers and can make decent profit or keep as rental. This is not advice just what I have found. Less time and hold cost and same profit if lucky
Totally agree. My original timeframe from the contractor was 100 days. If it would’ve stuck, it would’ve been a slam dunk.
Live and learn. Also my first full rehab in Winter Park. Learning the new city was educational. Other areas of town are a bit easier.
@@kenpozek I am sure you get a slam dunk on the next one I hope I can get a few soon too.
Can’t believe how much a house cost in Florida. Not even on the beach 🤷🏻♂️ I live on the South shore 45 min from Cape cod. It’s even crazier than Florida. Your house in Winter Garden would cost over a million here. Crazy world we live in 😜
Winter park is a smart safe place to invest.
Also, you simply can't count on any estimated timeframe from ANY contractor(s) to be met. They are terrible.
I really appreciate the transparency!
I love seeing real videos. Not every investment turns out the way we hope, but we adjust and move on!
Analyze and improve! That’s my motto
really like this deep dive into the process!
Labor of love haha! Thanks for watching
Turned out great. The house now elevates the neighborhood in terms of value and curb appeal instead of dragging it down.
Yessss I’ve been itching for an update on this house! I am in no financial position to be buying and selling real estate but I think it’s so interesting. The final result looks amazing, well done Ken!
Thank you Ken for posting such amazing content! It is inspiring what you are doing! Good job
👏👏👏Sir, you and your team did a brilliant job on an increasingly difficult job... You built back better a beautiful home... Your to honest to cut costs, but did you get quotes from 3 different Contractors before work started ❓
Beautiful house but that price!! Wow!
Finally yes. BINGE watching 🔥
Fantastic Landscaping….front yard and backyard would have been the draw, imo. First impression is always king. Let it stand out…it should set the bar…….for the entire neighborhood and match/exceed that beautiful inside renovation 🎉….That will make an unimaginable sell…bet.✨🌞😁
No, with taxes and insurance you are gonna be closer to 3800-3900 a month. Taxes will be close to 800 a month. You can't get the homestead exemption and insurance on a 600+ assessed house will be close to 4000 a year. You will get the principal payment benefit on this but otherwise it will be a loss. Honestly you should have dumped it. Lesson learned.
you can make more money, with less risk, and have less headaches putting that money into Fixed Income Investments... housing is way too overpriced, and remember most wages don't increase meaning less buyers
How you can start with 0 money?
Thank you for being honest and not just saying that everything was great
Who's the animal that hung the toilet paper like that? 3:12
Really enjoyed seeing the breakdown and details!
Hey Ken! your New office backdrop is so dope ☕️☕️ 🎉
Thanks man! Finally got some shelves to show off some of our stuff
Glad you were able to get it all worked out 👍
Greetings. Do you partner or JV
Really weird to see sod all the way up against the exterior walls. That's a bad idea - should have had at least a 1' wide separation with mulch or, better yet, river rock. Landscapers will do nothing but damage the exterior, and it's also inviting bugs/insects to enter much more easily. Also, I can't believe you didn't do a complete and thorough inspection first - bad move. Whether the previous owner knew it or not, that was not good.
Thank you! You do good work and are a honest guy. Renovation costs have gone through the roof, your numbers don't surprise me at all in Florida
Thanks for the vid and the honest self review. Considering that you did put all that time and effort, and yes that much money up front. I see what you mean about throwing more money into it. And I see the reasoning behind renting it. But I would have sold. Getting that 40K or so profit, would have still been ok. Not knowing, though what the future value of this home will be as well. All in all, thanks for the video. 😊
Wow great job both the work and the configuration of the house
What the heck is a primary?
Main bedroom?
Love the end product, I own some land in college pack if you want to partner on building it out and splitting it 50/50
Shoot me a message. Happy to chat
love the honesty
Splendid video on the realities of renovations.
I wont spend money on that especially septic tank.
Everyone wants to kick the can.
Love your honesty Ken. Looking to move there soon and keeping you in mind.
Hey thank you!!
@@kenpozek you're welcome.
This house was truly impressive, and the final product was outstanding. Thank you for providing such amazing content. Starting a list of Pozek approved vendors would be incredibly helpful for the community. Winter Park one of best communities in central Florida but right behind Hunter creek 😂 jk jk
😂😂😂