Best investment strategy / financing for central Florida

[Luis Gallo]

Hi! Need some wisdom from seasoned investors. I have a rental property I purchased 2019 currently renting and cashflowing pretty well at $1,500 monthly. I did pull a heloc out of this property. Fast forward I got married and just had a baby so we purchased our primary home back in November. Looking now to get into a BRRRR or flip to recycle my money (this would be my first one). I would be using a hard money lender if I go this route. Currently have a W2 job and wife is not working though I do have 16 week paternity leave (free time on my hands). Any guidance on these strategies or would a conventional 20% down rental be a smarter play in this market? Goal is to do RE investing full time. Thank you

[Adrian Lammersdorf-Scioll]

Hey Luis I do have to agree with others here that flipping and BRRRR is a much tougher strategy here in Orlando. A lot of the investors I've been working with have been doing Pad Splits where you rent out the rooms individually, and even add rooms in some cases (there is even a company that helps you), or going the house hack route with living on one side of a small multifamily to get decent cash flow with the lower rate. Midwest is another great option if you're open to getting outside of Florida, Ohio I've heard has been good to a few investors I know. I have seen or helped work with opportunities with BRRRR in some of the outskirts of Orlando such as Deltona, or Lakeland too.