Updated about 5 years ago on . Most recent reply
Newbie: 1st Investment Property
Resident of the Tampa, Florida area and looking to begin investing in real estate. You gotta start somewhere, right ? Would like to invest anywhere between $10k-15k more or less. As my title states, i'm a newbie and very eager to learn the ropes. I'm still doing my research on the many avenues someone can take in real estate investing. Not sure wether to purchase a property fix it up and sell OR purchase a rental property (word has it, if i can get my hands on a 2-4 family home that would be great). I'm full of questions with some obvious questions regarding financing; FHA 203(K) or 203 (B) among others. This is something that i'd like to do MUCH sooner than later, just don't know what my first step should be. Also, is $10k-$15k a decent amount to put into a property, do i need more, can i use less... Anyone out there with tid bits of information, i would so greatly appreciate it ! I'm sure at one point someone reading this was in my shoes as well, so let me know ! Thanks ~ Elvis
Most Popular Reply
@Elvis Albarracin, welcome!
I ran into the same problem of finding multi-family in Tampa. I just moved to the area about a year and a half ago, and stayed with family in South Tampa for a while. There's nothing there. Tons of luxury single-family going up, but very little zoned for multi and the prices are insane. I didn't look at very much north of Gandy. No specific reason why, just didn't.
St Pete is loaded with multi-family and the prices are a lot more reasonable. I bought a duplex to hack back in April, and I'm slowly building my team on this side of the bridge.
I always recommend the book, "Millionaire Real Estate Investor," by Gary Keller, to people just getting into real estate investing. It's a good "wave top" of the different methods of investing (i.e. buy-and-hold, flipping, wholesaling, etc). It's not very deep on any one method, but it'll give you an idea of which one you want to persue.