New Member in Pasco county FL (near Tampa)
Hi all, I have hovered around the BP site reading the newsletters on and off about a year now. I just started listening to the podcasts in the last 2 months, and found them to be a lot more interesting than I had expected, so I am hooked! So I'm trying to take the next step and spend some times in the forums.
Like the subject says I'm in the Tampa, Fl area. I work a full time job and have dabbled (Couple of flips, and for some reason buy and hold vacant lots, haha) in RE for about 8 years now, and in the last year decided to make a strong push to get some sustainable rental income, and move on from the cubicle. So far I have bought 2 duplexes, and 2 SFRs in the last 13 months.
I'm trying to follow a loose criteria of: 1 only buying things that I would be personally willing to live in, 2. in areas that I'd be willing to live in, 3. dont need too much money to have a nice refresh so they look more up to date 4. are close to my home so I can keep an eye on them, and maintain them as needed. 5. Can give at least $400 cash flow per door with at most 20% down.
I have purchased all with HELOC on my primary home, I was able to refi the SFR's into 15 year mortgages, but have not been able to cash out the duplexes yet, so they are both sitting on my heloc, and my cash offer strategy is stuck right now. It is a fabulous deal, at only 2% interest, but I really rather use it for making more deals.
Anyway, enough about me for now, hope to talk to you all more.