Updated over 5 years ago on . Most recent reply
Buying a home in Greater Tampa/St Pete.
I am in the process of learning how to invest in real estate, now that I am mostly an empty nester. I was taking it slow at first, so I didn't make big mistakes. I was looking for a multi family home or one with a mother in law suite. In the past two months I have been forced to move sooner than later. I do not have enough liquidity to use cash, so I am using a VA loan.
Are there preferred areas and neighborhoods to buy a starter home? Areas that will also have a better chance at being a good investment with sweat equity? I would do most of the work myself with the help of my friend that is a GC.
I was looking in the greater St Pete area, since its near my aging mother. I am not finding much and totally disappointed in the realtors I am coming across. Most say a home is always a good investment, want me to move in an area that would be unsafe for my daughters, don't understand VA loans, or want me to find a home that "speaks to your heart".
From what I've read, it seems like buying a starter home and leaving the rest of my approval income to do a traditional or FHA loan to buy an investment home out of state in a less expensive state/area.
Do you have any advice, suggestions, words of wisdom, or constructive criticism?
Most Popular Reply
Unfortunately, you're coming into the Pinellas County high point for Real Estate value. What I do personally -- and what I suggest to anyone else -- is drive around nice neighborhoods and find the nastiest house. Find the owners info and make them an offer. Of course, your mortgage will influence the condition the property can be in.
Feel free to connect via PM to talk more! Happy to help.
Jared