Military veteran looking to invest in north FL

[Michael A Johnson]

Hey all,

Nice to virtually meet everyone!  I have been known for blabbing on and on, so I am going to try to make this intro short and sweet.  

I have been genuinely interested in real estate investing since I was a youngster but my life circumstances(some out of my control and some, not so much) never afforded me the opportunity to make the jump. It hasn't helped that my wife of 10 years, is not very sweet on the idea of risk. None the less, I kept secretly obsessing, wishing I could find a way to make it work. Well, it finally did...sorta. After years of looking and multiple failed attempts to purchase a home though traditional/VA financing, I was finally able to convince an elderly neighbor to owner finance his badly neglected 2/1 home to us for $60,000 at 6% over 10 years. I have been renovating this 1000sqft home as quickly as 3 kids and my budget would allow. It has not been easy but we are just about there. With an ARV of $135,000 - $150,000, we are looking to do pretty well on this home. Pat myself on the back...PAT PAT.

Now, how do I make this investment work for me?  That's what I'm here to figure out.  I finally managed to fit myself into the required guidelines for traditional financing but as history and experience has taught me:  It is wise to step back, evaluate, and explore all options.

Regards,

Mike