Real Estate Investor · Seminole, FL · Member since 2015 · 11 posts · 17 votes
Hello All,
My name is Tim, I am a 26 year old Real Estate Investor living in Pinellas County, Florida. I buy and hold Multi-Family properties on the outskirts of Tampa Bay (Brooksville, New Port Richey, Sarasota, Plant City). I currently have 96 units and am about to close on an additional 78 units. I am a Licensed Agent in Florida and also like to do fix and flips with houses and smaller multi-family when time allows. I have grown up doing every aspect of this industry from maintenance to management and feel Real Estate is in my blood. I am very hands on in my projects and would not hire anyone to do a job I have not done before. Luckily, I have had a good set of mentors in real estate and I am hoping I can pass on my knowledge to anyone else that may need help or have questions. I look forward to becoming an active member of the site and learning more tips and tricks from others in the industry!
Thanks for all the good posts and podcasts that I have read/heard so far!
@Troy NorwoodI love that strategy and wish I knew about it when I started out. @Brandon Turneris a pro at this. Read his book, his blog posts, and the podcasts and I think you'll be convinced to do it. Once you've gathered some knowledge on here I recommend getting out to some REIA meet ups. We have a lot in Tampa Bay. I look forward to seeing you around BP and meet ups.
@Timothy DeCarlowelcome to BP! You're ahead of most with such a large portfolio and experience level at such a young age! I love it! I'm in Plant City, I'd love to meet up next time you come out this way. Keep up the great investing!
Like @Adrian Smude@Jeff Leach said congratulations on your success at such a young age. We are the same age, but I am a newbie to REI game!! I am looking to purchase a multi-family as my first investment. My wife and I are hoping to use the FHA 203k process to "house hack" a multi-family in Pinellas County. Live in and rent for a year and then repeat. What do you think about this strategy to get started? Any advice would be much appreciate. Thank you for the post it's good to hear about local success!
@Troy NorwoodI love that strategy and wish I knew about it when I started out. @Brandon Turneris a pro at this. Read his book, his blog posts, and the podcasts and I think you'll be convinced to do it. Once you've gathered some knowledge on here I recommend getting out to some REIA meet ups. We have a lot in Tampa Bay. I look forward to seeing you around BP and meet ups.
Welcome to Bigger Pockets. BP is full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members which is my favorite part of the website.
I think that is a great strategy. Living for free will help free up a lot of money to start saving for another property. If you can get a Triplex or even a Quad there is good possibility you can even make money on it while living for free. I would strongly suggest looking at Homepath Firstlook properties as only owner occupants can make offers during the first Thirty Days. They only have a few multi-unit properties, but the advantage of being somewhere investors cant, makes it worth it. There are too many investors throwing cash offers out now a days to really be able to find a true deal on the MLS. I would also suggest taking advantage of the property appraisers website, you can do a quick search of any multi-unit properties that have not been sold in the last 20 years and send out letters to the owners, don't expect many replies, but its paid off for me before.
Timothy DeCarlo Hello and welcome!
I just read your tip about using the assessors website to search for multifamily properties that have not sold in 20 years or so. I'm going to do that.
I would love to hear more of your story so far and I'm sure others will too!
@Adrian Smude Thank you, I have been listening to the podcast for a few months now and I am going to buy his book on audible right now. I have learned an incredible amount from the BP podcast. Speaking of REIA meetings I plan on going to a one meeting or another every other week. Do you ever attend the Larry Harbolt Monday nights in PInellas Park or the St. Peach Beach weekly meetings?
@Timothy DeCarlo Wow, great tip on looking at the appraiser site. I hadn't thought of looking there, but I was surprised to find out that on the Hillsborough site you can actually search through certain filters to find tax deliquent owners, mortgage/deed dates etc. I have been sending letters to some of these people. Thanks for planting that seed in my head!! It is funny you mention the homepath site, because I have been looking there. I'm hoping there won't be a problem buying one of those first look properties with a 203k
Thank you for the warm welcome everyone. I always thought of sharing stories as bragging so I have never thought to post anything. When I have some time I may try to type out some of my deal and how I came across them. As far as REIA clubs in the area, I have not been to any. Are there any good ones in the area? I never really looked into it but I am all for networking.
@Troy NorwoodI try and go to Larry's meet up once a month or so. It's basically a pitch and wants session. It's great for networking or if you have a property/need one. I mainly go for networking. I plan to go a week from tomorrow.
I am in Valrico and I am just now learning about the possibilities in Real Estate. It is cool to hear about such early success and I do not look at it as bragging, but instead motivation for the rest of us. It's easy to accept that the guys on TV and in the "free" seminars made a killing in Real Estate and YOU CAN TOO for just $29k, which only serves to discourage people from actually getting started and learning the business. Guys like you help us see past that. I plan on going to the REIA meetings in St. Pete - it is a bit of a trip for me but well worth it. I hope to see you there!
That's an amazing story. I had not thought about investing in Brooksville, mostly because of the sinkhole issues. However you must feel confident in the area. Sarasota - are there deals to be found that cash flow It has gotten so pricey there. Would LOVE to hear some of your deals - please share. Not at all bragging. And since you're a realtor maybe you can help out some of us who are looking for deals. I just followed you and would love to connect.
Welcome to BP and congrats on your success! Very inspiring! I'm a newbie in Sarasota, FL with an unrelated full time job, and look forward to your contributions on the forum!
I'm not sure how far outside the area you are in, but the Sarasota REIA meets weekly on Wednesdays at noon. They're a great group, have been very inviting, and very knowledgeable. Let me know if you're interested.