New to investing and eager to get going! :)

[Will Pigg]

Hello All! Hope you’re doing well!
Will and Rachel here from the Orlando, FL area (Lake Mary)
We’ve been following and watching BP for a long time (and the awesome Rookie podcast as well). We adore all the info and resources this entire community has put together!

Even though we have been actively following BP stuff for years there wasn’t much we could pull the trigger on (married very young, raised three kids and were always working multiple jobs to pay for life. It simply left no time, room, or capital to do what we always wanted…) - BUT now my (Will’s) company sold! - it’s a mid-size contract manufacturing company for supplements based in Utah. We close on the sale in the next few weeks - which brings me and Rachel to the doorstep of our next and final careers; Real Estate Investing!

We’re now empty-nesters in our mid 40’s and we finally have some capital and we’re psyched to jump full bore into this!

We have some hurdles though (owning 7 businesses over the last 15yrs and the debt that came with those, covid wrecked us… along with a mountain of college student loan debt for us and our kids), our credit is… rough, to say the least lol… we really have no idea how to begin. We assumed we would have to put up almost full cash buys or extremely high down-payments at this point.

We know how important mentors are and are very eager to learn. We’ve watched soooo many different people on youtube, however, we figure going to local RE investor meet-ups is really the way to go. We absolutely love the Central Florida area and want to stay settled here (we’ve been here for 30 years). But we do realize that investments can be nationwide when the deals are right.

To be honest, recently we've recently become disheartened looking at properties - we finally sold the company, after a couple years of trying, and it seems our timing is just horrible :( it’s just so expensive now… and our initial expectations of picking up a plex and a single family or two to start just seems so out of reach.

We are actively looking for any help, guidance, and overall mentorship. We are incredibly easy to get along with! :)

We have a few different areas we would like to pursue:
- Small Multi-Family (duplex, tri, and quads), for cashflow
- Single Family 3/2’s (trying to stay under the median price-wise) for appreciation and longer holds
- We’re very open to other revenue streams as well (Investing groups, passive income streams etc…)
- We also discussed potentially buying some lots and just building multi-families because the small multi-family stuff feel so dry in Central Florida, and getting into large multi-family with investor groups just seems out of reach.

Well, looks like I'v e written way more than I thought I would as an intro! Sorry about that!
If you made it this far, thanks a ton! hahaha

“Autobots, roll out!”
-Will

[Melissa Justice]

@Will Pigg,

Hey Will and Rachel! Welcome and huge congrats on the sale of your company! That’s no small feat, especially after such a long grind through multiple businesses and raising a family. You’ve clearly earned this next chapter and it’s awesome to hear how fired up you are to dive into real estate investing together.

Here's the Good News First:
You're not late to the party! You're arriving with capital, experience, and drive, which puts you ahead of most. The market may feel hot and expensive now, but strategic investing still works, especially for folks like you who are ready to take action and stay flexible.

Based on Your Goals & Situation, Here’s a Roadmap to Launch:

1. Start With Buy & Hold in Landlord-Friendly Markets
You’re right--small multis in Central Florida are tight. The spreads are thinner, and the appreciation play feels risky unless you’re inside a true growth corridor (think Winter Haven, Ocala, or outskirts of Orlando).

If you're open to investing out of state:
Look at cash-flowing markets in the Midwest and Southeast:

Birmingham, AL
Columbia, SC
Cleveland, OH
Indianapolis, IN

These offer solid cash flow, low entry costs, and pro-landlord legislation. Perfect for rebuilding credit while putting your capital to work with modest risk.

Leverage: Yes, Even With Rough Credit
You mentioned your credit is currently rough. That’s okay--if you’ve got capital:

Start with all-cash or high-down-payment deals for your first 1–2 properties.
Then, refi later using DSCR loans or asset-based loans once you've stabilized the asset.
These loans use the property's income, not your personal credit or DTI.

2. Consider Turnkey Properties for Momentum
Since you're looking for a passive(ish) start while navigating credit rebuilding:

Turnkey rental properties can offer:
* Immediate cash flow
* Tenants and property managers in place
* Fewer headaches while you build your portfolio
* Ability to scale out-of-state without being hands-on

3. The Build-to-Rent Angle

Yes--buying lots and building your own duplexes/quads is a legit strategy. Especially in markets like:
* Ocala, FL
* Lakeland
* Palm Coast
* North Port

However:
You’ll need to align with a trusted builder/developer.
Expect 12–18 months minimum from land close to keys-in-hand.
Use it as a mid-term strategy, not your immediate cash flow play.

4. Connect With Local REIAs and Mentors
You're 100% right about meetups. Florida has a strong investor network.

A few ideas:
Orlando REIA
Central Florida Realty Investors (CFRI)
Join local BP meetups (check the forums or events tab)
Connect with local agents who specialize in investor clients (not retail agents!)

Your background in business and entrepreneurship is gold and there are plenty of local groups would welcome that insight and could trade experience for deal flow, analysis help, etc.

5. Suggested First Moves (Next 30–60 Days)
a. Identify 2–3 out-of-state markets with affordable small multis or SFH rentals.
b. Talk to 2–3 turnkey providers or investor-friendly agents to see what’s available.
c. Assess how far your capital can go with cash or DSCR terms.
d. Buy 1 SFH or duplex with solid property management, even just to learn the ropes and start getting monthly income.
e. Join 1–2 investor meetups monthly in Central Florida and network your way into deals or partnerships.

Will and Rachel, you’ve navigated far harder challenges than a tight housing market. You’re bringing grit, real-world experience, and the right attitude to the game. You don’t need 10 doors overnight. You just need that first intentional property to learn, cash flow, and build momentum.

If you want help reviewing actual deals, comparing markets, or figuring out financing pathways I'm always here to help!

Best,

Melissa