All Forum Posts by: Aryelle Collins

I'm looking to start investing by living in a duplex and renting the other part out. This duplex is located in Tampa and the owner is willing to owner finance. The terms she offered me are:

Down payment- 15k

Loan amt- 100k

Interest rate- 5% for 10 yrs.

I will owner occupy the 1/1 but it's currently renting for 550 and the 2/1 is currently renting for 850 bringing in 1400 per month. The taxes are 923.14 and there are separate meters for utilities paid by the tenants. 

This will be my first deal and I am trying to limit as many mistakes as possible. Please give me your advice and remember I will be taking over the 1/1 after the purchase.

If you are an investor who started your journey through real estate by house hacking without much money of your own, what tips can you give to an aspiring house hacker that is currently looking for a multi family home in Tampa preferably a fourplex, duplex, or triplex with a detattched bungalow or Inlaw suit to owner occupy. How did you find your first property to house hack? How did you get the down payment or cash to construct the deal? How did you negotiate the deal? 

Any advice would great from an experienced house hacker.

Thank you!

@David Dey On the county property appraiser site it allows you to do an advanced search and input the zip code of the area you are targeting and the amount of units, but does not allow me to go deeper to target a specific group, such as tax delinquent absentee owner. Can you explain how you are able to successfully access that information when you do your search please?

@David Dey Great I look forward to hearing from you!

Wow @David Dey you are AWESOME!!! That is great advice, 20 deals sound compared to 2 sounds Amazing! I really appreciate your help.

@David Zheng I totally disagree with you. If a new investor brings a lender an amazing deal that will guarantee a profit why wouldn't they fund the deal regardless of experience?! We all have to start somewhere! Don't assume their an idiot because they don't have a property, mabey you should see what they have to offer first and give that person a chance to get their first deal, instead of turning them away because they don't have experience.

@Luka Milicevic I'm on it, Thanks for your help! 

@Luka Milicevic Thanks for the clarification that this would be the most efficient route for me to take to start out! I would rather pull the records for myself anyway. Do you think writing 200 letters to send out is an adequate number to start with since I'm doing everything myself?

@David Dey Wow that seems like a much easier way to put together my list together by just using the local property appraiser! I only want duplexes, triplexes, and fourplexes focusing in the Seminole heights area, so do I just go on the county appraiser site and input that information to get the list of properties?

@Michael Nicholson I will definitely look into listsource thabk you for the recommendation!