All Forum Posts by: Doug Merriott

@Travis R. Welcome to Bigger Pockets. There is a lot of great information here. A lot of stuff they don't teach us in Real Estate school or at the Brokerage. Have a lot of fun, check out the podcasts, blogs and Ultimate Beginners Guide.

@Anibal BourdierdI fully agree with everything Shawn and Patrick posted. I love this area. Tampa Bay is where I will invest and where I will live for a good long time. I would also look at a longer term goal of transferring some of your 401k in to a Self Directed IRA. I believe there are seasoning periods, but it may help minimize taxes and penalties (ask how I know about taxes and penalties when investing with your 401k). Definitely get your CPA or other tax strategist involved in that decision.

There are a good number of houses on both sides of the bay that can be had for lower prices.If you are willing to let $200 or more a month in condo fees eat in to your profit then the additional maintenance on a similarly priced SFR does not seem so back as you will likely rent the property for a much higher rate.

I am a Realtor and would love to have a coffee with you to discuss your plans when you are here. Please do let me know. I would also be happy to bring you to our local REIAs I am sure there will be one happening when you are down.

Hi Jon,

Welcome to Bigger Pockets!

I live in Clearwater, Pinellas County, Florida. I am a Realtor and active in local REIAs. Let me know how I can help.

Doug

@Jay Kiehn I go to quite a few. I'll send you a message.

I hear you. I go to mine while my wife is at home and we do our monthly meeting together and get a sitter.

Money is out there, I was at a REIA last week and there were two hard money lenders at least.

Hi @Vanessa Blais Welcome to Bigger Pockets (BP). There are some other great REIA in Pinellas County. Check out www.meetup.com to find more.

@Mark Pritchard thanks for the shout out. I do love this area!

welcome to Bigger Pockets! I am interested in that Rotary Club.

@Chase Spitzer contact me when you are ready to come down to Tampa Bay area. I love this area and I am very excited to share it with people. It may just be the fact that I choose to live here, but I don't think there is any place better than Clearwater. However your needs may be different. If you like to get out and party it up then Tampa or St. Pete might be better for you.

Let's talk.

@Karina Ramos I think a better way of looking at it is that if you were to put $10k down on a $50k house and rented that house for $850 you would be receiving 1.7% of the purchase price each month. This example house could easily turn out to be 16% cash-on-cash returns, meaning you put in $10k and will receive about $1600 in free and clear income throughout the year, $1600/$10000=16% or a return on your down payment in a little over 6 years.

Now, if you are as broke as I am you could put even less down and perhaps, if you qualify, receive down payment assistance, you could buy a duplex, triplex or quad and watch the cash flow roll in. FHA will give you a subsidized interest rate but you will have to pay mortgage insurance so that would be a wash. You would also have to be willing to live in the place for a year so take that in to consideration.