Willing to learn in Tampa Bay, Florida

New Member Introductions

Willing to learn in Tampa Bay, Florida

Amelia Bartlett

Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes

Hi there! I'm new to BiggerPockets and I'm sure glad I found you guys. I'm Amelia. I'm almost 21 and real estate investment has been on my mind for years, since someone explained to me the concept of OPM.

On the forefront, I'm a broke college student who (thankfully) works for herself as an eBay contractor in the antiques and collectibles business. However, the money just isn't enough and I want a means to live rent & bill free on the dime of rental properties and saved "flipped" profits.

As for me, I'm a gardener with chickens and a small collection of organic plants. I am a retired racing greyhound momma and keeper of 2 rescue cats. I enjoy yoga and hope to teach this summer, and I also enjoy circus arts, dance, cooking, technology & computers, and exploring!

I hope to meet as many local and global people in this community along my journey to becoming a young & successful real estate investor. This is a really great community and I can't wait to be apart of it.

If you are in the Tampa Bay area and would like to meet up for coffee sometime, contact me! If you're outside the area, I'd love to "virtually" meet you and gather a fine circle of friends here.

Nice to meet you! (:

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Most Popular Reply

Albany, NY · Member since 2013 · 28 posts · 2 votes

12y

Hi Amelia Welcome to bigger pockets. There is a ton of good info on here as you'll see. I also am a part time ebayer! I live in NY currently but hope to be in Florida by 2014.

See this reply in the discussion

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Justin R.
Albany, NY · Member since 2013 · 28 posts · 2 votes
12y
Hi Amelia Welcome to bigger pockets. There is a ton of good info on here as you'll see. I also am a part time ebayer! I live in NY currently but hope to be in Florida by 2014.
1 Reply
Doug Merriott
Residential Real Estate Agent · Tierra Verde, FL · Member since 2013 · 276 posts · 130 votes
12y
Hi Ameilia,

Welcome to Bigger Pockets.

My wife and I have our first rental property in St Petersburg and we live in Clearwater. We would love to have coffee and get to know you. Already we seem to share some interests. I will send you a colleague request.

Have you attended any REIA meetings?

Doug
0 Reply
Amelia Bartlett
OP
Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes
12y
Nice to meet both of you!

Justin: When you get here, let's grab coffee!

Doug: I would love to meet you guys. I haven't attended any REIA meetings, probably because I'm not sure what that is. Are they open to regular people like me or do they require membership?
0 Reply
Doug Merriott
Residential Real Estate Agent · Tierra Verde, FL · Member since 2013 · 276 posts · 130 votes
12y
most will let you try a meeting or be someone's guest.
0 Reply
Ali Boone
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
12y
Welcome Amelia!
0 Reply
Ryan Doyle
Spring Hill, FL · Member since 2013 · 23 posts · 3 votes
12y
Welcome,

I'm in the Tampa area as well. Although, I have yet to finish my first deal. I've been trying to learn as much as possible, and get things in line before getting in too deep.

As far as the REIAs go, there are a couple in the Tampa area, and one that have been to in Pinellas. The Pinellas one is free and meets on Mondays, good crowd and lots of experience there.

Have you narrowed down what areas of RE you're interested in getting into?

Ryan
0 Reply
Brandon TurnerPro Member
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
12y
Hey @Amelia Bartlett Welcome! You've definitely come to the right place to learn more about investing. If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast. They are both great at learning the fundamentals.

Also - here's a couple articles you might enjoy:

The 21 Best Real Estate Investing Books Ever

How to Rent Your House: The Definitive Step by Step Guide

Oh - and don't forget to set up your Keyword Alerts!

See you around the site!
Podcast Guest on Show #92
0 Reply
Amelia Bartlett
OP
Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes
12y
So, I'm going to keep my little beginner thread alive to see if anyone passes through with some personal advice or experience that they think can help out someone in my position.

I'm (almost) 21, have pretty lame credit, very little capital, but a LOT of motivation. This year, I've decided mostly to focus on flipping houses because I don't think I'm ready to get involved with landlording or hiring property managers, etc.

I just joined my local REIA Tampa Bay chapter and will begin attending meetings, but I'm hoping to learn more about certain things online as well, things I've been having trouble narrowing down in the forums.

I'm wondering about:

•How hard money lenders work, and how you communicate with/propose deals that a person in that position.

•The actual process of purchasing a house, what goes into it, what legal concerns the buyer should have.

•How to decide what should and shouldn't be renovated in a future flip house, like say "How do I decide if needs new flooring, or a better kitchen?"

Just a few questions, and of course, if you have ever been, or are currently in my position, I'd love to hear your story and how you're doing!
0 Reply
Doug Merriott
Residential Real Estate Agent · Tierra Verde, FL · Member since 2013 · 276 posts · 130 votes
12y
hey Amelia,

I have been listening to the podcasts while I work for the past couple of weeks. One you may find to be interesting is:

http://www.biggerpockets.com/renewsblog/2013/12/26/bp-podcast-050-getting-started-setting-partnerships-flipping-mike-simmons/

Definitely read the Ultimate Beginners Guide

http://www.biggerpockets.com/renewsblog/2013/02/19/ultimate-beginners-guide-to-real-estate-investing/

Our library system has most of the books on Brandon Turner's list as well.
0 Reply
Brandon TurnerPro Member
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
12y
Hey @Amelia Bartlett - also - since you are interested in Flipping, check out the post I put out this morning:

Flipping Houses: The Ultimate Step by Step Guide

Again, welcome!
Podcast Guest on Show #92
0 Reply
Amelia Bartlett
OP
Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes
12y
Originally posted by @Ryan Doyle:
Welcome,

I'm in the Tampa area as well. Although, I have yet to finish my first deal. I've been trying to learn as much as possible, and get things in line before getting in too deep.

As far as the REIAs go, there are a couple in the Tampa area, and one that have been to in Pinellas. The Pinellas one is free and meets on Mondays, good crowd and lots of experience there.

Have you narrowed down what areas of RE you're interested in getting into?

Ryan

Is this the meetup at the Hibachi restaurant in Pinellas Park? I saw that one on MeetUp but I wasn't sure if I had to be a member of TBREIA to attend.
0 Reply
Lenny LongoPro Member
Real Estate Broker · Ellenton, FL · Member since 2010 · 101 posts · 23 votes
12y
The Hibachi Grille Meeting is a very informative meeting where you can learn a lot and meet a lot of people. You don't need to be a member. You walk in, pay $2 at the door which is a cover charge but also gets you a free drink. (You can even eat dinner there through the meeting) I don't go any more as my market is south of there.
0 Reply
Paul Timmins
Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
12y
@Amelia Bartlett

Welcome. Pics look great.

Check out the Start Here page http://www.biggerpockets.com/starthere

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Good Luck

Paul
0 Reply
Amelia Bartlett
OP
Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes
12y
Originally posted by @Paul Timmins:
@Amelia Bartlett

Welcome. Pics look great.

Check out the Start Here page http://www.biggerpockets.com/starthere

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Good Luck

Paul

Woah, Paul! That was a lot of great info at once. I just purchased the flipping book and my first Tampa Bay REIA meeting is tomorrow night, which I'm excited about. However, you sparked my interest with three things:

•How do I check out HUD homes?

•Could you give me a little more info on the niche of Student Housing (or point me in the direction of a post or forum)?

•And "You don't have to own a property to control it." - huh? That sounds cool, and profitable, but I don't quite see where the angle is.

Thanks for the great responses!
0 Reply
Steve Smith
Beverly Hills, FL · Member since 2013 · 388 posts · 62 votes
12y
@Amelia Bartlett Welcome to the bigger pockets web site, I think you have seen just how friendly the People on this site are. If you have any questions just ask and you should have it answered Correctly.
0 Reply
Paul Timmins
Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
12y
@Amelia Bartlett

Hud.gov

Student Housing they rent per bed instead of per unit. They include utilities cable and internet. If a 3 bed is going for 1,000 a month they would rent each bed at 550 a month.

If you connect with a tired landlord and offer to fill the vacant units with per bed rental you take a piece off the top. A buddy filled a 10 bed 3 family for an out of state owner she takes 100 a month off the top for each bed, makes 1,000 a month on a property she doesn't own or manage just fills.

Paul
0 Reply
Amelia Bartlett
OP
Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes
12y
@Paul Timmins That sounds like a FANTASTIC idea! What a great place to start - not even owning, but filling. I will definitely look into both of those suggestions. Thanks so much!
0 Reply
Daniel Miller
St. Petersburg, FL · Member since 2012 · 173 posts · 44 votes
12y
Hey Amelia!

Congrats on getting started...I saw your name popping up on my e-mail alerts the past few days and thought I would say hi. Look forward to seeing you around the forums

Dan
0 Reply
Jackie Lange
Investor · Central America, Panama · Member since 2010 · 423 posts · 293 votes
12y
Flipping Houses.. as in buying then fixing then selling... is not such a good idea for a new investor. There is a lot of risks because you don't know how to evaluate a deal, how to negotiate a good price, how to estimate repairs, etc. PLus, with the interest rates increase and the new credit requirements for buyers, it will be harder to sell your houses.

It is much better to start with Flip Deals... as in wholesaling.. because you can learn all the things I mentioned above without actually buying the house and you often make as much or more than a rehabber does and get paid faster without risks. You are selling to other investors, not an end user so it is much easier.

Peter Fortunato has FREE Monday meetings and is always ready to help you with your deals. He has no courses to sell. Ask any experienced investor in Tampa how to get in touch with him and they will know. Unfortunately, I'm not allowed to post his web site or contact information because they think it is a sales pitch ( WHICH IT IS NOT) Peter has 50 years of experience.
0 Reply
Amelia Bartlett
OP
Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes
12y
@Daniel Miller Thanks for the welcome! I see you're local to me - if you ever want to meet up, network a little, get coffee - let me know. I'm on the prowl for team building at this point and I love making new friends!
0 Reply
Amelia Bartlett
OP
Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes
12y
@Jackie Lange I really appreciate the suggestion, and that Monday meeting keeps coming up, I'm going to have to check it out next week!

As for wholesaling, I get a LOT of mixed reviews on whether it's a good start for a new investor, and I'm open to both opinions. What I can't seem to grasp is how a new investor gets STARTED in wholesaling. With flipping, it seems like you get an agent, get a property, get a contractor, sell it, get a check, with lots of little steps and possible headaches in between.

However, with wholesaling, I'm not even sure where I would start with that - or what I could actually do.

Could you offer any suggestions for a newbie with little cash and credit?
0 Reply
Renee Stewart
Real Estate Investor · Houston, TX · Member since 2013 · 88 posts · 24 votes
12y
@amelia Bartlett,

Connect with an experienced wholesaler in your area. Ask him/her to mentor you on the process, they will be flattered. You can find these folks at REIA meetings and you could check craigslist for their ads.

Tell them that you're interested in learning about wholesaling and would appreciate any help they could provide.

On another note, you will want to start building your buyer's list. You must know what your buyer's are looking for. Try bandit signs (purchase corrugated board at the Dollar Store and hand write 'we buy houses cash'. Place in your area of interest.

If you have access to MLS, look for the cheaper houses in that area and submit offers 50% of the price. You will be turned down often but you will also get a few bites. Also, this allows you to connect with realtors and let them know what type of houses you're looking for that they could provide you in the future. Make sure you let them know that they would collect a 6% commission when working with you because you're an investor.

You will also want to send out yellow letters to one or more of the following lists:

- Probate, Out-of-State owners, Expired Listings, Tax Suits etc.

I can send you a template that I use that will cut your time in half. Eventually when you get more marketing dollars you can send this task out to a Virtual Assistant or Service.

I hope this information helps you get started.

Wholesaling is about marketing to generate leads, having cash buyers, and getting properties under contract yourself, or partnering with other wholesalers on properties they have under contract.

Good luck and Happy Investing!
0 Reply
Daniel Miller
St. Petersburg, FL · Member since 2012 · 173 posts · 44 votes
12y
Amelia,

Yea that sounds cool. The Monday night meeting is pretty cool. A lot of experience in that meeting. The format is casual and everyone is friendly. You just need to throw yourself in.

Coffee is always cool!
0 Reply
Amelia Bartlett
OP
Saint Petersburg, FL · Member since 2013 · 21 posts · 5 votes
12y
@Renee Stewart I just now read your reply! For some reason, I wasn't notified that you posted here. If you could send me that template, that would be fantastic! And I really appreciate the wholesaling suggestions - that's definitely a route I'm looking into but making offers at 50%? Awesome! It's something I wouldn't think to do unless someone actually told me I could, which you just did...

I'm going to get my real estate license so that I can make offers and do some extra MLS searching myself, but I will definitely be in touch with you, you seem like you really know your stuff. Could we email sometime?

And as for reviving this forum, I wanted to keep updating with the progress I'm making so I don't get too discouraged - which I'm kind of getting now. I got so much support and information from my local REIA and the fantastic community here that I'm kind of stuck; I don't know which route to take. There is so much merit to each avenue but I feel like if I chose one, I could be wrong or fail or... I feel a bit paralyzed. Can anyone out there offer beginner tips to jumping into their own personal field? Say, if you're a wholesaler, could you post a quick tip about how you did your first deal? Or, if you're a flipper, could you tell me how you finally took the plunge and offered & bought your first flip?

Thanks guys!
0 Reply
Account Closed
Orlando, FL · Member since 2013 · 165 posts · 62 votes
12y
Amelia

Someone above mentioned Pete Fortunato has meeting in your area. I attended one of his seminars in the early 80's. I learned plenty of stuff there that has made me a lot of $$$$$$$$. If you are considering getting your Florida real estate license, that is an excellent idea. The more you learn the more you earn. Read my blogpost here on Bigger Pockets about getting your real estate license.

http://www.biggerpockets.com/blogs/3840/blog_posts/33599-why-you-want-a-real-estate-license

Good luck in your wholesaling adventures.
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