Travel nurses ready to invest in Florida

Travel nurses ready to invest in Florida

Rental Property Investor · Vacaville, CA · Member since 2016 · 12 posts · 15 votes

Hey everyone. My girlfriend and I are new to BP and have a unique situation. We have been travel nurses the past few years and are looking to start investing in some properties. We are originally from Kentucky, but have no intentions of settling there. We are looking to start investing in the Florida market and have been analyzing the markets of Jacksonville, Orlando, Tampa and St. Petersburg. We are currently in San Francisco and will continue to work out here for the next few months. We plan on continuing to do travel nursing for another year or two, both for the income and adventure of it. We are trying to learn as much as possible before settling on an area that we want to develop and eventually live in. Looking for some feedback about how everyone feels about the Florida markets. Obviously the best thing we could do is take some time off and spend some time in each area, but that may not happen until we actually buy something. Sounds a little crazy, but we enjoy the adventure. We have always wanted to settle somewhere on the East Coast and California housing prices are a bit steep to just play around with. My girlfriend's mother and step father live near Orlando and would be able to help out until we physically move down there to settle in. He has rental/contractor experience and she is retired. We have considered property management, but first we need to find a market. Ideally, we would like to start off with a nice quad, off street parking that has a good cash flow, even if the cost is higher. We would consider duplex/triplex as well. Prefer to stay away from condos due to HOA fees. I would like to get into single families once we are in the area. Obviously a lot up in the air with the new Trump presidency coming up, but we plan on holding these properties. Any inputs? We will be flying to Orlando/Tampa area this coming week and will have a few days to look around and are interested in finding investor friendly realtors to pair up with. Thanks for the advice and inputs!

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Wholesaler · Tampa, FL · Member since 2016 · 53 posts · 27 votes
9y

I have a lot of flips under my belt and cover the entire Tampa Bay Area. I also do public bank foreclosures, and tax deeds.

I can give you complete access to the MLS covering Hillsborough, Pinellas, and Pasco Counties.

I can set up an automatic MLS feed for you too, based on your parameters, and provide CMA's on properties of interest.

I use detailed investment analysis programs that you can be tweaked with different costs, growth rates, % financing, interest rates, etc. it gives you not only Cash on Cash Cap Rates but also true Internal Rates of Return IRR%.

I do REO's including HUD and Fannie Mae. I'm a Realtor with Coldwell Banker and have CCIM and RESSI certifications.

PM me.

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  • Wholesaler · Tampa, FL · Member since 2016 · 53 posts · 27 votes
    9y

    I have a lot of flips under my belt and cover the entire Tampa Bay Area. I also do public bank foreclosures, and tax deeds.

    I can give you complete access to the MLS covering Hillsborough, Pinellas, and Pasco Counties.

    I can set up an automatic MLS feed for you too, based on your parameters, and provide CMA's on properties of interest.

    I use detailed investment analysis programs that you can be tweaked with different costs, growth rates, % financing, interest rates, etc. it gives you not only Cash on Cash Cap Rates but also true Internal Rates of Return IRR%.

    I do REO's including HUD and Fannie Mae. I'm a Realtor with Coldwell Banker and have CCIM and RESSI certifications.

    PM me.

  • Property Manager · Palmetto, FL · Member since 2015 · 15 posts · 11 votes
    9y

    Hi Jason.

    The Florida markets are very competitive, but also provide good opportunity. You probably are already aware of the opportunity as you have focused your search in Florida. Properties are selling quickly. Two of my friends recently had offers on their properties within 48 hours of being listed. Those offers from other investors led to closings on their properties. I know people making offers on homes without seeing the properties. Investors and home owners alike need to act quickly on new listings. The good news is properties are appreciating well and there is strong rental demand. I hear from people from St. Pete to Sarasota constantly complaining how hard it is to find a house to rent. There are hundreds of houses being built in the area I live. If you come across a quad that provides a decent IRR, jump on it. They are rare.

    I’m interested in discussing a few questions with you. What kind of price range are you looking for? Are you planning on working in the area and living in the property part of the year? Have you considered a seasonal rental? Have you considered building? What are your long term goals? I normally recommend professional PM for out of state owners, but the hospitals communities are pretty close-knit. If you advertise your rental within the hospital community, you are likely to rent to a fellow hospital worker and have good results without property management. My wife works at a hospital and there are always people with good income looking to rent. It’s also possible to find property for sell before it’s listed within the hospital community. If you manage the property yourself, you will need to be familiar with Florida tenant-landlord laws.

    PM me if you want to discuss anything. I think I can give you a few ideas to think about.

  • Investor · Tampa, FL · Member since 2016 · 679 posts · 288 votes
    9y

    @Jason Hatcher, Hello from Tampa, Welcome to BP. Take some time and get familiar with the site as I too am a new member who has not had the time to go through all the lessons yet. There are many ways to make Money with Real Estate Investing. There is a time to Buy and a time to Sell. My friend lives in Safety Harbor and his wife is a Nurse, ready to retire. They know a young couple who are also Travel Nurses and they are making $15,000 a month. Why would you give that up? I had my Rentals for 30 years here in S. Tampa and the sale prices have leveled off. The Flippers are having problems finding Deals as the Market is at a High and my lawyer says that some of the Flippers he talks with, are not able to Sell. He just put the new home he built in S. Tampa, up for sale for $485,000. He just spent $80,000 rehabbing another home down there near MacDill AFBase and is asking $232,000. For some reason everyone wants to invest in multi-family units. Maybe its because SFHomes are hard to make positive rents with? That is why I see so many Flippers going to the War Zone areas to find something "cheap" to fix up to Sell. They can gut them and put in marble top sinks and fancy tiles in the bath and new floors, but, I would not spend $200,000 plus to have neighbors like they have. Important for me is, no more Flood Zone property. Got to have a view of something more than a junk truck and trailer in front and dead lawns. Don't want the areas with mosquitoes. You want to move to Florida and live near a swamp? I grew up in Palo Alto. My sister has a small, million dollar home on one of those hills in San Francisco. How are you going to charge enough rent to make that one produce positive income, even if it has a zero percent mortgage? My brother has a Town Home in Campbell, near San Jose where all the Asians have continually been buying up everything in sight, for years, causing the asking prices to be bid up two and three times the first morning the property goes on the MLS For Sale. You won't find many of those properties here in Tampa. The President Elect will have 100 days to make some changes. Builders are looking forward to the promise of removing rules and regulations that stifle the Economy. The problem is that the Millenials don't have any JOB's that produce enough Money, to pay off their Student Loans or save up for a Down Payment on any kind of a Mortgage for a New Home. Shovel Ready, Infrastructure Construction JOB's are mostly paid for with Taxes and that is just taking from Peter to pay Paul and not providing Stimulation for a Deflationary Economy. One of the only things that D. Trump could do to Stimulate the failing Economy, is to eliminate the IRS and just have a Consumption Tax. That means that when anyone Buys something, they have to pay the Tax. That's why it is called The Fair Tax. That way all the drug dealers, illegals, prostitutes and people of all kinds that don't pay Income Taxes, will end up paying. Rich or Poor, you all have to pay. Then, the IRS will downsize to the maximum and just have the JOB of making sure that all the Businesses declare those Taxes that were collected. You will no longer have to waste any Time at all in preparing an Individual Tax Form, longer than a postcard. If you want Equality, move to France. If you want Freedom, invest your Time and Labor in the USA.

  • Rental Property Investor · Vacaville, CA · Member since 2016 · 12 posts · 15 votes
    9y

    Hey guys.  Thanks for the responses.  David and Brad, I sent you PMs.  Michael, travel nursing is a blast, but we do want to settle down in an area eventually and have been debating on where.  We have the luxury of choosing anywhere, but if we want to invest in real estate, we have to consider the market, especially in the long term aspects.  The Bay area has crazy housing prices, but also looking at severe drought problems with no current solutions.  If I was to invest that much into my houses, I would want a better guarantee for long term stability than what California has to offer right now.  Looking at long term weather and drought models just makes us too scared to invest out West.  I have noticed a flips on the market for months with decreasing prices and we aren't planning on trying to flip in this market.  As for Trump, who knows what will happen.  It's an uncertain time for everyone, but somehow the stocks have been rallying.  We are definitely not investing into stocks right now, thus looking to real estate as an alternative.  

  • Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    9y

    @Jason Hatcher

    The Florida market CAN be a great place to invest. That doesn't mean paying retail. That doesn't mean getting into bidding wars and paying too much. As an investor you must get a decent discount when purchasing. I like Florida in general. The demographics are definitely +++ Florida. If you haven't looked, you might want to consider SW Florida. Feel free to PM me or ask anything in the forums. 

  • Virtual Assistant · Hollywood, FL · Member since 2016 · 60 posts · 11 votes
    9y

    Hi Jason,

    I’m Jerry. My mom and Terry, my wife, have just started a new company "Home Too Community". We have been rental residents of South East Florida for about a decade. I know I hear the groans from DP member’s rental? Decade?

    Since we all start out at the make connections stage. I would be happy to trade some info for info. You get the real time info about what Broward, Dade and WPB are like.

    For example living 8 miles from the beach but it takes 40 minutes to drive there, and then the same to drive back. Having been a Chef where to eat and more importantly where not to! We would get some info on buying investment housing real time. We are also looking to build up contacts of contractors.

    PM us and best of luck.

  • Dave FosterBusiness Member
    Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
    9y

    @Jason Hatcher, You've landed in a very interesting niche for real estate investing.  Travel Nursing is a huge industry that is not going away and will be growing for years to come as  You could land on some very unique ways to take advantage of your unique situation.  Would love to hear more of your thought processing.

    The 1031 Investor5137 Reviews
  • Investor · Safety Harbor, FL · Member since 2016 · 83 posts · 42 votes
    9y

    @Jason Hatcher, I am originally from Lousiville.  I currently live in Safety Harbor, FL and am a new real estate investor. My strategy is buy and hold. I found my first sfh in Clearwater through a wholesaler. I'm looking for my next one now. It is not easy to find deals in this market, but with patience, persistence and dedication it can be done. There are lots of opportunities in St. Pete and Tampa, which are both growing areas with promising city growth plans. Feel free to PM me directly if you want to connect and I am happy to share information from a fellow new investor's perspective.

  • Investor · Tampa, FL · Member since 2016 · 679 posts · 288 votes
    9y

    @Jason Hatcher, Hello, BP is not the place to discuss the Stock Market, but, I ended up trading Futures after making money with Stocks and Options for ten years, which I used to buy my Rental portfolio. The reason the Markets have gone up for 9 years is because the Fed guaranteed the Banks would survive with Zero Interest loans and printing endless amounts of Money to Buy all of the excess Government Bonds or our Debt. Fiscal and Monetary Stimulus. The European Union and Japan have followed along with this game plan which cannot continue to kick the can down that road, forever. That is why intelligent traders are saying that we are overdue for another slowdown. Now, the Fed raises the interest a quarter point and says that they want to raise it three more times in 2017. The Fed knows that any increase in interest has the consequence of increasing our Debt payments and slowing down the Real Estate Market as the cost of Mortgages will increase. Does anyone know at what point the increasing cost of mortgages will kill this Market? The Builders have already spoken as new home starts and applications for new construction slowed this quarter. The Builders have rushed to complete current homes under construction and get them sold. The price of properties and rents cannot go up forever. But, the cost for Lights, Water, Cable and Telephone is killing some of my tenants in Tampa. The other reason that the Markets have gone up is because Companies like Google, Microsoft, IBM etc. are buying back their own Stock, which lowers the amount of Shares outstanding and that raises the Value of the Stock. This also is used by the CEO's to award themselves bigger Stock Option packages. So, when they Buy Back more of the companies Stock, they can Sell what they have at higher values or just retire with those hundred million dollar retirement packages. This is likely to continue even if D. Trump lowers Corporate rates and gets the companies to bring back some of the Trillion point 2 Dollars that they have in foreign profits. Its the same thing that members of BP are looking for...a place to park their money, where they will get more Return on Investment, than the one percent that the Banks will give them. Why are you guys looking to Buy Multi-family units? Because they pay more rents than SFH's. Why would you take on the Risk to Buy and Hold for the long term? Because you Hope to Create Wealth while you sleep, if and when the Value of the Property increases. The Rents pay for your Business and the increase in Value of the Property can be your long term Wealth. The problem with Real Estate is that it is Illiquid. The advantage with Stocks and ETF's etc. is that you can push the button on your laptop and it is Sold. The Market that has been going up for 9 years just got a "Trump Bounce." We are enthused with the idea that Taxes will be lowered. The Tax Form for most will be reduced to a Post Card. The new Rules and Regulations of the past 8 years that are strangling Small Businesses, may be reduced or eliminated. Something will be done to control our Open Borders. This does not mean that the value of Stocks and Real Estate will continue to go up. That is why I say that I do not want to be caught with a bunch of Rentals and Tenants losing their JOB's like the 2008 Crash. I am Selling what I have. There are some properties that I would like to Buy, but, my idea is one House at a time and make sure it is something that I would want to live in.

  • Saint Petersburg, FL · Member since 2016 · 54 posts · 20 votes
    9y

    @Jason Hatcher Welcome to BP! As you can see from this post Florida, and the Tampa Bay area is a very popular place for investing in real estate. Not to mention, Who wouldn't want to live is such an awesome state with water all around you. I work for an investment real estate firm in St. Pete so I have been involved in many investment transactions all over the Bay Area. If you ever have any questions about the area, current market trends, or even what neighborhoods are best suited for your family I would love to chat. Hope you see you choose the Tampa Bay area to move to and invest. 

  • Orlando, FL · Member since 2016 · 3 posts · 0 votes
    9y
    @Jason_Hatcher I would be interested to learn more about this as well. I'm a home health PT working here in Orlando which has given me a great opportunity to learn about all the neighborhoods and what the inside of people's homes really looks like! I'm looking into buying some rentals as well. Would be curious if anyone is looking for partners in Orlando?
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