First-Time Buyer in Florida Seeking Advice & Potential Lending Connection for Rentals

[Gevonne Doiron]

Hi everyone,

I’m a first-time homebuyer and aspiring investor based in Lakeland, FL. I’m currently exploring options to acquire my first rental property—ideally through owner financing, a rent-to-own model, or a creative partnership. My goal is to get started with minimal out-of-pocket cost by leveraging value-add strategies like BRRRR or house hacking.

I’m still learning the ropes and would really appreciate any insight or connections, especially from:

• Private/hard money lenders open to working with first-time investors
• Investors who’ve done no-money-down deals and can offer guidance
• Anyone familiar with Polk County/Lakeland rental markets or down payment assistance programs

I’m committed, hands-on, and actively scouting properties right now. If you’re open to chatting, sharing a resource, or possibly partnering, please feel free to reach out or comment below.

Thanks in advance—excited to learn from this community and take the next step forward!

Best,
Gevonne

[Doug Smith]

Hey Gevonne, You gotta start somewhere and sometime. We've all had to start, we've all needed guidance, and we've all made mistakes. Get ready for the ride. We're based in Tampa and I've got a loan officer in Lakeland. We know the community well. I've been investing in the Tampa Bay area for about 17 years and I've been a lender for nearly 35 years. 

The only question I would have for you is that you mention the term "first time homebuyer". Do you currently own your residence or any home? Many of the institutional lenders can only lend if the investor currently owns a home. The reason for this is, as a part of 2010's Dodd Frank legislation, residential borrowers are required to prove income in a residential transaction. A lot of borrowers that could not prove their income would say "oh, it's an investment property" (wink wink) when they intended to live there the whole time. The regulators quickly figured that out and make lenders put that stipulation in there. 

Let me know if you have any questions of ever want to grab coffee. I'm always happy to meet up with an investor. Thanks, Doug