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Young Newbie Investor in Melbourne, FL

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  • Posts 11
  • Votes 6

William Layne
from Port St John, Florida

posted over 3 years ago

I realized after looking around this site today and got the addict badge... That made me realize that I haven't actually really even made an introduction post... Fair warning for anyone that doesn't want an essay:

From: South Florida and Daytona.

Goal: Financial Freedom (more detail below)

Experience: I personally have none except for what I've read. My girlfriend has a bit of interior design.

Looking for: Real Estate Agent suggestions. Meet Ups. Members to network with. Anyone willing to give hands on experience. All resources you think are great!

----------------------------------------------------------

Hey all! I'm William Layne and I'm a software engineer working at the Cape, and newbie investor living in the Brevard county area.

I'll start with a bit of some personal background. I grew up in Lake Worth (FL), went to college in Daytona Beach, lived in Oklahoma City, and have moved to the Port St John area (within the past year). 

I've been researching investing since I first got a "real" job and stumbled upon real estate and bigger pockets when looking up investing podcasts. Ever since then I've been sucked into researching buy-and-hold real estate and focused on the numbers side of things.

Now you may be wondering if the "s" in investors is a typo. But since I've been so engrossed in learning more, I somehow convinced my long-term (8 years) girlfriend (basically fiancee) to start learning as well. She and I are both very very interested in vacation rentals and BRRR strategies (as they can tie together). I'll leave her introduction for if she makes an account :)

My next step is to find anyone willing to mentor or talk with me (or us). I am hoping to find people to network with who I could talk to (about anything at all really!), bounce ideas off of, or possibly get hands on/ride along experience. I believe this will start with any local meet ups, so if you know of any please let me know!

Our goal currently can be summed up as financial freedom. We want to be able to secure our future children's financial future and be able to do something we love because we love it. We believe we can achieve that using rentals and hope to meet many people, investors, and friends along the way.

Thanks and can't wait to start getting more involved!

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  • Posts 37
  • Votes 4

Ken Mazak
from Deland, Florida

replied over 3 years ago

Hey William,

Welcome you and I are in about the same position.

I've been trying to find a meeting in Daytona also . I have found a REI meeting on the last Thursday of the month in Port Orange.

Lakeside Community Center

1999 City Center Circle

Port Orange Fl 32129

Networking at 5:30 meeting at 6pm

If not a member $10

More info at cfri.net

I have not been to this meeting myself yet, I found out to late to attend the September meeting but do plan on attending on October 26

Main Monthly Meeting is held on the 1st Wednesday Of Every Month from 5 PM - 9 PM

in Orlando at

Edgewater High School Performing Arts Center
3100 Edgewater Drive
Orlando, FL 32804

It is $20 if your not a member if you go to the website  cfri.net you can print a free pass for your first meeting

A more experienced colleague is trying to put together a less formal meet-up in Daytona but nothing concrete yet.

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  • Posts 11
  • Votes 6

William Layne
from Port St John, Florida

replied over 3 years ago
@Ken Mazak Awesome! Daytona is a bit of a hike, but I am familiar with the area and definitely willing to meet and network people up there. Also, I completely forgot about the CFRI. I'll go to the Brevard chapter in a few weeks and see how it goes. I think I'd personally enjoy the informal/meet and greet setting a bit more but it could be a good experience. I'll send you a colleague request and we can talk more!
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  • Posts 11
  • Votes 6

William Layne
from Port St John, Florida

replied over 3 years ago
I realized I didn't really ask anything that could start a discussion. If you're looking here, what would you have done different as a newbie? Or what piece of advice would you give yourself?
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  • Posts 7.2K
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Dave Visaya (Moderator) -
Audio Engineer and Investor from Cebu City, Cebu

replied over 3 years ago

Hello @William Layne , welcome to BiggerPockets! It is great to have you and please feel free to jump in the community - there are certainly great people around here!

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  • Posts 11
  • Votes 6

William Layne
from Port St John, Florida

replied over 3 years ago
Originally posted by @Dave Visaya :

Hello @William Layne, welcome to BiggerPockets! It is great to have you and please feel free to jump in the community - there are certainly great people around here!

 Thanks!

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  • Posts 112
  • Votes 37

Bill Walton
Lender from Stuart, FL

replied over 3 years ago

Welcome William! Glad you have here. Just a little south of you for a meet up but if you have any questions as to finance or rehab loans I would be happy to talk. From what I hear the space coast is going to see a ton of growth in the coming years. 

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Check Rosette Top Subjects:
Rentals, Traditional Financing, and Single Family
  • Posts 1.8K
  • Votes 875

Matt Motil
Rental Property Investor from Cleveland, OH

replied over 3 years ago

Welcome to BP William! Great neighborhood here!

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Check Rosette Top Subjects:
Rentals, Team, and Maintenance
  • Posts 2.2K
  • Votes 1.4K

Kerry Baird
Rental Property Investor from Melbourne, FL

replied over 3 years ago

I’m down in Melbourne, and participate somewhat regularly in the meeting that is held every two weeks in Palm Bay.  My hubby and I are working on a beach side renovation that is taking most of our time at the moment.  

I have been renting out single family houses for quite a number of years, and was introduced to the short term rental side of things by an aunt, when I went to visit her in Colorado.  She has had a very good run in the short term space.  

I know very little about that in our local market, except there is a tourist tax from Brevard County on vacation rentals...that’s very little knowledge.  I’m sure others will pipe up and share some local rules and regulations.  

Welcome to the site.  I’m happy to share what we have going on, so feel free to ask.  All the best~

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Check Rosette Top Subject:
Real Estate Finance
  • Posts 138
  • Votes 54

Wendy Vaidic
Real Estate Agent from Indialantic, FL

replied over 3 years ago

Welcome William!  I am a fix and flip investor in Brevard County as well as a Realtor.  I also attend the same meeting Kerry Baird mentioned.  It's a great group of honest investors!  

Short term rentals are not loved by the governments here in general, but there are areas, such as Melbourne Beach, where it is allowed. It's best if you are interested in a place as a vacation rental to call the zoning department for the city it is in. Brevard has a lot of unincorporated areas so in those areas you'd call Brevard County zoning. You can definitely make a good income but you want to make sure you do it in the right area so you don't get shut down. If there is an HOA or Condo Board you'll also want to check if they allow short term rentals.

I'd love to chat anytime.

Take Care,

Wendy

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  • Posts 11
  • Votes 6

William Layne
from Port St John, Florida

replied over 3 years ago
@Bill Walton Awesome, I'll send you a colleague request and be sure to ask you some questions! I agree that we'll see some growth. My SO and I both work for large engineering companies in the area. I know her company is sucking up all available talent in the area which leaves them having to bring in more.
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  • Posts 11
  • Votes 6

William Layne
from Port St John, Florida

replied over 3 years ago
@Kerry Baird Is that beachside reno the one in your blog? Also, I am sort of in the same boat, I am going to take the advice below and call around to see limiting factor :) Can't wait for the meetup
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  • Posts 11
  • Votes 6

William Layne
from Port St John, Florida

replied over 3 years ago
@Wendy Vaidic I'll be sure to call around and see what some limiting factors or rules I need to follow then! We aren't 100% sure on what we are doing to start, but think that is out goal in the end. I can't wait to connect with everyone at the next meetup. It's always much easier to talk in person.
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Check Rosette Top Subjects:
Rentals, Team, and Maintenance
  • Posts 2.2K
  • Votes 1.4K

Kerry Baird
Rental Property Investor from Melbourne, FL

replied over 3 years ago

Yes, it’s the house featured in my blog right now.

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Check Rosette Top Subjects:
Team, Traditional Financing, and Single Family
  • Posts 355
  • Votes 373

Andrew Ashby
Property Manager, Broker, & Investor from Orlando, FL

replied over 3 years ago

@William Layne , welcome to BP! You're in the right place! As a local agent and investor myself, I own 4 units (2 SFRs and 1 duplex) and I don't mind telling my story if it helps others find the confidence to pull the trigger. 

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  • Posts 11
  • Votes 6

William Layne
from Port St John, Florida

replied over 3 years ago
@Andrew A. Awesome, I'll connect with you and we can talk privately!
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  • Posts 13
  • Votes 3

Maurice Remillard
from Edgewater, Florida

replied over 3 years ago

Welcome to the forum. I live in Edgewater, FL and am in the same boat you are. I have bought the Ron LeGrand real estate course many years ago and have been lurking and learning for many months. I just don't know where to begin to find the right deal. I would love to meet up with some of the experienced investors and learn from them.

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Check Rosette Top Subject:
Team
  • Posts 50
  • Votes 20

Darrin Gross
Insurance Agent from Lake Oswego, Oregon

replied over 3 years ago

William, 

We bought an apartment building in the area last December, and I am happy to share what we have learned.  Let me know.

Darrin

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