A roundup of Joe LaFleur’s insights from the recent Greater Orlando Multi-Family Meetup
100Units.com multifamily investment advisor Joe LaFleur was recently invited as the guest speaker at the Greater Orlando Multi-Family Meetup.
During this virtual session, Joe shared his insights into the health of the local market, the important lessons he’s learned from past experiences, his top tips for any multifamily investor, and much more.
Join us as we cover Joe’s key takeaways about the current state of the Central Florida multifamily market. You can find the link to watch the session in full below.
Right now, the number of banks who are lending is down. The most active lenders you’ll find out there are going to be Freddie Mac and small community banks, or places like BankFinancial, MIDFLORIDA Credit Union, and United Southern Bank.
As the pandemic began to take hold across the United States, multifamily deals took a nosedive. What we’ve observed locally is that activity began coming back again in May.
Across the board in Central Florida, most owners are seeing rent collection percentages in the high 80s or low 90s. There has not been the massive drop that was anticipated and, because of this, multifamily property values have not been dramatically impacted.
To put things in perspective, collections at the end of 2019 were within 1–1.5% of where they are right now.
For the last three months, we’ve had more deals listed and more deals under contract than at any other point within the last 4 years. It’s truly astonishing to see the market come back so strongly — and it’s a great sign of ongoing recovery for the Central Florida multifamily market.
You can watch the virtual meetup in full here.
Many thanks to Bailey Kramer and the Greater Orlando Multi-Family Meetup for inviting Joe to participate in the session.
Joe says: “It was awesome to meet with investors from around the world and to share my insights about the local multifamily market! I hope everyone who attended found it valuable.”
Are you thinking of buying or selling an Orlando multifamily investment?