@Elenis Camargo Agreed, there are many ways you can benefit from REI. Self Storage is a very strong asset class right now, and FL is booming with them! Thanks again for sharing, I love hearing everyones angles on how they scale up!
Congrats, how did you go about finding a qualified agent to help you source "deals"?
What are your requirements that makes a property work for your investing style? What kind of returns do you look for?
@Elenis Camargo congrats! Hard work pays off. What part of Florida do you live in and are your properties mostly single family homes? Im looking at getting a duplex or 4plex in the florida area.
@Elenis Camargo I love your story and it was very motivating! I look forward to connecting with more real estate investors! I’m no longer shy lol thank you!
@Elenis Camargo wow amazing how it all flowed so naturally. You really make it seem easy :). Would love to invest out state especially in a better market than the ones near me but I haven’t gained the confidence to. Good luck!
Im new to bigger pockets, but have done a few flips on my own. I've learned your only as solvent as your last deal. which is what brings me here, to learn more about rentals. Where i can be solvent for long after my last deal. Thanks for sharing your experience , it got me fired up! Are you interested in doing deals in NY/ NJ?
@Erik B. Thanks! We started with a family friend that was an agent in Jacksonville. She switched to doing new construction about a year later. My husband was looking for a commercial agent a few months before that and found one on LinkedIn. The agent he found was the owner of a brokerage in Jacksonville and referred his top property manager because I was looking for a new listing agent. When our agent switched and we needed a new one, I gave this PM a shot as he also did sales. He's been amazing and I recommend him to every investor that wants to acquire in Jacksonville!
As for the requirements, that's a loaded question haha. It depends on what we are trying to do. For rentals sometimes we need something with very minimal work and other times we want something that requires more work. We have also acquired properties that we will be able to flip in the future. You can read about that and our returns here :) https://www.biggerpockets.com/...
@Cecil Valentine Thanks so much! I currently live in Brooklyn NY but will be moving to Jacksonville in 3 months. Yes all 5 of our properties are single family homes. We just haven't found the right multi family deal yet.
@Chyniece Cox That's awesome!! Definitely don't be shy. I have learned that most people on BP are extremely helpful and there is no reason to be shy to ask any questions. What's the worst that can happen? They ignore you? Then you find someone else that will talk REI with you :)
@Elenis Camargo Great post. I'm sure it has motivated many people included myself. It was only last Friday I put in a bid on a HUD home and they counter offered so I hope my offer is accepted tomorrow. I hope to start the journey that you're on. Good luck on your real estate journey.
@Andre Fierro Thank you! It wasn't as easy as it sounded but also not hard! Anyone can do this as long as you invest the time and energy into it. That's all it is. I see you're in NY. We met a couple (now friends) in Queens about a year ago that was in your shoes and now they just got prequalified for their first investment property. They will be purchasing in NC in a couple of months. Maybe you guys are neighbors :) @GLENN SANTOS can tell you all about his journey!
@Bernard Rooney That's great! Congrats on doing flips! We want to do at least one this year. Hopefully we can make it happen. Where did you do your flips? I'm open to NY/NJ probably more as a flip versus a rental.
@Howard Hall I am happy to hear it motivated you! I hope your offer gets accepted!! It's nerve wracking waiting for a counter offer, that's for sure. Let us all know how it turns out tomorrow :)
@Elenis Camargo you’re an inspiration. I sent your post to my wife because we was just talking yesterday about how she’s made over 20 million for her employer and that’s not her company. I’m motivated. Thank you for sharing your story.
@Derek Hamilton Thank you so much! That means a lot to me. Wow $20 million. That's crazy! We work so hard at our jobs too and know once we do this full time that we will be very successful. Your wife as well! Keep us posted on your journey :)
@Elenis Camargo Awesome post! Truly inspiring stuff for someone who is just beginning the saving and researching process!
@Zach Mueller I’m happy to hear that. You’re exactly the investor I write these for. Keep at it!!!
For a brand new investor like myself who is in the analysis phase, your journey and story gives me hope that I too will some day leave the sidelines and jump into the game as an active investor. Thank you for telling your story.
@Andre Fierro hey yea I’m in Elmhurst. I highly highly recommend talking and getting to know @Elenis Camargo learning her strategies. We’ve learned so much from her and her husband. They’ve been so good answering so many of mine and my wife’s question that at times we feel like we’re bothering them, but they've ALWAYS been there for us. It’s been a BLESSING not only knowing but also becoming great friends with her and her husband. Read, listen, and learn from her because she knows what she’s talking gets about! Only thing left for Elenis to do is be a guest on the BP podcast.
Awesome post and super inspirational. It’s always great reading about stories like this because it just goes to show how far hard work and dedication can take you. Congratulations and keep it up!
@GLENN SANTOS hey definitely! Look forward to.
Congrats and you are in perfect position to eventually (5+ years) systematically 1031 Exchange into bigger and better properties. My only caveat is, you cannot change "Entities" during the 1031 Exchange, e.g. you cannot have an AB partnership or LLC and 1031 Exchange into a new property while changing the AB to "A" or "B" or "XYZ". This is important because experience has taught me Partners often have a "Honeymoon" stage that can quickly fade where each partner wants to strike out on his/her own and when the property is sold, each partner directs the Title Company to cut individual checks to individual names.
Great post @Elenis Camargo ! Can I ask, where did you find a lender willing to do 15% down on a rental property? Was this done as an LLC or as yourself? Everyone I've talked to here In Ohio is requiring 25% down which is really slowing me down.
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