New investor looking for financing in New Orleans, FL, TX

New investor looking for financing in New Orleans, FL, TX

Investor · Buffalo, NY · Member since 2017 · 2 posts · 0 votes

Hey BP - been listening for years but it's time to get involved!  Smart, creative, ambitious guy here.  Went to college for architecture and have worked in my professional life as a building inspector, insurance underwriter, and actuary, and I lived in a 2-fam and had two more 2-fams in my hometown of Buffalo, NY, and sold those when I got a job offer and moved to New Orleans, LA.  I put my proceeds in the stock market for now but am looking to invest in a 3-fam, 4-fam, more-than-4-fam, or mixed-use bldg.  Nola is beautiful but also a stepping stone and it looks like the next promotion at my company would be to Tamp Bay / St Pete, Florida area, in 18 - 24 months, so that's where I'm more likely to invest.

What I'm interested in:

(1)  buying and living in a 3- or 4-family bldg
(2)  buying and living in a 5- or more fam bldg - but what sort of creative financing would I need to make that happen?
(3)  Rehabbing and getting into flipping (my parents were contractors and I had a painting company in Buffalo - closed it to go back to the corporate world but have the time, interest, equipment, and know-how to do most if not all of the drywall / painting work on a flip)
(4)  Being an assistant or intern for a house flipper (I'll work for free - teach me and let me see the process from the inside!)
(5) Investing / hard money lending to a house flipper (teach me and let me see the process from the inside!)

I grew up watching my parents pour love into their big old Victorian.  I've been around houses/building/construction my entire life and a weekend of painting and polishing floors sounds relaxing to me.  The idea of having houses and building ownership turn enough of a profit to live off of, sounds too good to be true.  I am hard-wired for a career in this industry.  Just looking for the first door to open :)

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  • Gerald JordanPro Member
    Investor · Columbia, MD · Member since 2014 · 35 posts · 7 votes
    8y

    Greg you have some good experience with the business of rehabbing or refurbishing living spaces. I like the process of having a person allowing you to do the work while learning .....good idea. I am about to purchase my first property and have been working 7 days a week in order to simply increase my investment energy. I want to house hack as Brandon often speaks of and have looked to go through NACA as a first time buyer in order to get the perks of what they offer. I too look to do as much as possible of my rehabbing and more than likely shall work with a friend of mine who has a small crew, he is a contractor from back in the day when we first met. I may be joining that crew! I shall keep an eye out for what develops with your plan. Stay well.

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