Newbie in San Francisco, investing in Pinellas County, FL

[Carole D.]

Hi Everyone,

I've been researching real estate investing for the last 6 months and my husband and I are finally going to make some offers on properties this week. I am very excited but also a little nervous to see how it goes. We live in San Francisco and are looking to invest in Pinellas County, FL for our first investment because of our familiarity with the area and many "boots on the ground" contacts here. 

Our goal is to create a buy and hold portfolio starting with SFH and maybe a duplex or triplex in the coming year. I was a little worried the market here was to high for a buy and hold deal but I think we have found some solid properties, nothing is a steal but I think that is ok. This week we will find out if any of our offers will be accepted. :)

Wish us luck!

Thanks,

Carole

[Phil Bach]

@Jaime Penix

Right now it's nearly impossible to win any bids on REO's without grossly overpaying above asking price. There is an influx of new wholesalers and investors driving up the initial purchase prices but the retail ARV (the ceiling) is staying stagnant.