New member from Orlando Florida area!

New Member Introductions
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New member from Orlando Florida area!

Zachary Waterman
Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes

Hey all! I am 22 years old and currently working as a firefighter. I live in the suburbs of Orlando, FL (Lake Mary) and I can’t wait to begin my journey investing in real estate. Currently own no property’s but have around 25k saved up. Everyone has to start somewhere!

I have joined this community to learn as much as I can about real estate and investing. I also hope to meet new people and build a network in the central Florida area. Anyone feel free to add me and I would love to learn and/or work with you.

Currently my goal is to build a passive cash flow eventually, but I am open to any strategies at the moment.

As of right now I am looking for my first home that I can eventually turn into my first rental property. Any help on finding or advice would be greatly appreciated! (Somewhere in the suburbs of Orlando would be preferred)

Thanks for taking the time to read my bio!

Hope you all have a great day.

-Zachary Waterman

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Kelly Iannone
Rental Property Investor · Orlando, FL · Member since 2018 · 301 posts · 354 votes
5y

Welcome Zachary! Definitely check out our local real estate meet up @Bernadeau C. and @Shawn G. run; meets on Saturdays with virtual and in-person opportunities. 

In regards to strategies, if I was in your shoes I’d look for a duplex-quadplex to acquire with 3.5% down and house hack it. Get that 30-year financing at today’s cheap rates and go for it! Then start saving to do it again in a year or two. 

Looking forward to seeing you in one of our meet ups! 

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  • Shawn G.
    Rental Property Investor · Orlando, FL · Member since 2017 · 207 posts · 125 votes
    5y

    @Zachary Waterman Welcome! Networking locally is a great place to start. 

    4Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Shawn G. Thanks I will work on that!

    2Reply
  • Steven Torres
    Real Estate Agent · Orlando, FL · Member since 2020 · 42 posts · 25 votes
    5y

    Hey, @Zachary Waterman Welcome to BP!

    I would become familiar with the acquisition process and learn about the monthly expenses in your target markets - utilities property taxes, maintenance, etc.

    House-hacking is a solid strategy and it's my favorite strategy for getting into the game. It gives you acquisition, project management, and property management experience.

    Best of luck!

    Steven

    1Reply
  • Kelly Iannone
    Rental Property Investor · Orlando, FL · Member since 2018 · 301 posts · 354 votes
    5y

    Welcome Zachary! Definitely check out our local real estate meet up @Bernadeau C. and @Shawn G. run; meets on Saturdays with virtual and in-person opportunities. 

    In regards to strategies, if I was in your shoes I’d look for a duplex-quadplex to acquire with 3.5% down and house hack it. Get that 30-year financing at today’s cheap rates and go for it! Then start saving to do it again in a year or two. 

    Looking forward to seeing you in one of our meet ups! 

    5Reply
  • Valentina Naumenko
    Property Manager · Orlando Kissimmee, Daytona Beach & Cocoa Beach · Member since 2016 · 331 posts · 166 votes
    5y

    Welcome to BP! I can help with analyzing a pontoon rental you may be an interested. I manager rental homes in Orlando area. 

    1Reply
  • Tyler GibsonBusiness Member
    Real Estate Agent · Orlando, FL · Member since 2017 · 1k+ posts · 2k+ votes
    5y

    Welcome, @Zachary Waterman several local folks have already chimed in like Shawn and Kelly they are good people. The meetup Kelly was talking about is a great place to learn ask questions and get to know people. @Kelly Iannone is right in that the best strategy would be to find a small multi-family property live in half and rent out the other half. If your half has another room then get a roommate too and see if you can have other people pay for your living expenses. It is the best way to learn about what it takes to be a landlord first hand. Feel free to ask questions to me or any other folks here on this thread. I am a realtor here in the area and would be happy to help in any way I can. 

    [email protected]407-590-9858
    GPG Team 597 Reviews
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    4Reply
  • Alberto Nikodimov
    Property Manager · Orlando, FL · Member since 2020 · 200 posts · 194 votes
    5y

    Hi @Zachary Waterman, I definitely agree with @Kelly Iannone and @Steven Torres! House hacking is the way to go! I'm also in a similar situation and I'm looking for a MFH in the area for a house hack! Let's connect!

    3Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    5y

    @Zachary Waterman

    Welcome to the BP family! Glad you joined the best real estate investing website!

    Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users

    Lots of luck.

    1Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Steven Torres thanks for the advice I have been looking into house hacking all day!

    0Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Kelly I. Thanks for the advice! I will also try to start attending these meeting. What normally takes place during these meetings?

    0Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Valentina Naumenko nice to meet you, and thanks for the reply!

    1Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Tyler Gibson Thanks for the reply! I am glad to hear that these people are credible. Yes, I am currently looking into multifamily homes In my area. Hopefully I will find something decent! Also I can’t wait to get some land lording experience. Just so much I need to learn. I can’t wait!

    0Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Alberto Nikodimov yes! I believe that would be fantastic!

    0Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Dmitriy Fomichenko I appreciate the advice. I will check that out. Thanks!

    0Reply
  • Kelly Iannone
    Rental Property Investor · Orlando, FL · Member since 2018 · 301 posts · 354 votes
    5y
    Originally posted by @Zachary Waterman:

    @Kelly I. Thanks for the advice! I will also try to start attending these meeting. What normally takes place during these meetings?

    Pre-COVID we met monthly in-person the first Saturday of each month. Currently we meet via zoom once a month and in-person (if comfortable) once a month. The virtual meeting has a main topic (varies: finding deals without breaking the banks, analyzing properties, local STR property manager speaker, etc) and time to analyze deals. The in-person meeting which has just started up is more networking focused and an opportunity to create partnerships/JVs if you'd interested in that sort of thing.

    The group is super supportive of each other and very open to sharing information. 

    @Shawn G. do you still post these on the BP Events page?

    3Reply
  • Marlen Weber
    Specialist · Plano, TX · Member since 2020 · 2k+ posts · 861 votes
    5y

    Very cool, @Zachary Gwin. My dad also leaves in Orlando (Winter Garden), and began his investing career in SFHs just a couple of years ago. Your goal of becoming a passive investor is totally doable. You'll be there in no time. In fact, the amount of money you have saved up allows you to become a limited partner in apartment syndication deals already. Best of luck on your journey. 

    3Reply
  • Matt Engle
    Investor · Columbus, OH · Member since 2016 · 144 posts · 100 votes
    5y

    @Zachary Waterman Welcome to BiggerPockets! You're in a great place filled with an abundance of real estate knowledge. I am a multifamily syndicator and passive investor in apartment communities. If there is anything I can do to help, feel free to reach out.

    2Reply
  • Cheryl Vargas
    Rental Property Investor · Rohnert Park, CA · Member since 2014 · 307 posts · 160 votes
    5y

    @Kelly I.

    I second your compliments of the group, as I have been recently welcomed to the meetup group, as also.

    @Zachary Waterman- I encourage you to attend the next group meeting, as they are super informative. Last meeting was from a wholesaler explaining his process for finding houses, and he gave some great insights! At a previous meeting, someone brought a property that they were looking at buying, and the group helped to analyze it for cash flow potential.

    1Reply
  • Shawn G.
    Rental Property Investor · Orlando, FL · Member since 2017 · 207 posts · 125 votes
    5y

    @Kelly Iannone Yes I will be posting it under the events tab either today or tomorrow for this Saturday's meeting.

    @Cheryl Vargas @Zachary Waterman @Bernadeau C.

    2Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Kelly I. Yes, that sounds great! How would I be able to get the address or zoom link?

    0Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Marlen Weber Thanks! I never thought about getting into apartment syndication, but it’s a interesting idea.

    1Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Matt Engle I will be sure to! Thanks

    0Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Cheryl Vargas that’s awesome! I will definitely start attending.

    1Reply
  • Nate Patrick
    Real Estate Agent · Greeley, CO · Member since 2019 · 6 posts · 5 votes
    5y

    Welcome @Zachary Waterman, I am also new(ish) here and am in the Orlando, FL area (Winter Garden).

    0Reply
  • Zachary Waterman
    OP
    Rental Property Investor · Orlando, FL · Member since 2020 · 18 posts · 13 votes
    5y

    @Nate Patrick nice to meet you Nate!

    0Reply
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