All Forum Posts by: Edgar Rodriguez

Hey @Said Manar 

I would suggest looking into areas in Polk County such as Auburndale and Winter Haven. The market in the Orlando area is very strong, as mentioned above. 

There are also a decent amount of multifamily properties available in the Lakeland area. 

That is probably your best bet to be close to the Orlando area without going towards the condo/townhome route. You could also maybe connect with some local wholesalers and get a fixer upper but that would still be limited with the budget. 

Good luck on your journey!

@David Tsedaka

Hey David,

The highest probable reason is that your property is settling more than expected.

Most new builds move during the first two years since technically we are building on sand. Builders treat the concrete for this cracking along with sometimes using a thing coat of sheeting to prevent the cracking from hitting the tile.

It could also be faulty tile or bad installation.

I honestly have no idea what you can do to remedy it at this point. I’m sorry to hear that happened to you.

Hey @Heidi Smith !

Congratulations! I would consider maybe purchasing a duplex or a triplex like you talked about. Possibly find something with value-add opportunity so you can BRRR it and get your money out and repeat the process.

You can also look to start flipping some homes with a partner to start building your capital. 

Good luck! I am local to the area as well so feel free to ask questions!

Hey @Jason L.

You are probably correct about your options. Tampa has appreciated extensively recently and buying a home for $95000 is really difficult.

The only possible alternative is buying a distressed home and BRRRing it. I have some connections with some local wholesalers that could find something like that. It depends on what you can deploy in terms of capital besides the $95k for rehab. Hard money loans are also an option but they are costly.

You can also look at ancillary markets like New Port Richey, Brooksville, or even Lakeland.

Hey @Jesse Blaine

I am in the Tampa/St.Pete area. Most builders here are quoting between $90 a foot at the lowest to about $125 a foot with most most being at about the $100 a foot range. 

Hey @Cara Kennedy !

PM me and I will share a contact of mine's , Brandon Shaw's, information. He has many Air BnBs under management and has great data and systems to get you in good position. He operates here locally in the Tampa area but has done some out of state as well. 

@David Esteban

You’re very welcome!

Like everyone has said above, do your research. Turnkey companies exist for a reason but you have to find the right one.

You could also do the David Greene model of finding your all star team (Core Four) that can find deals, fix them up, get you the loan, and manage it for you.

Hey @Ashton Avari-Cooper!

Welcome to BP! I am on the same journey with you and I have also helped some of my clients house hack their first homes. Please feel free to reach out if you have any questions. 

Some quick tips:

-Do not rush yourself. Be patient in your search and make sure you establish very clear parameters with yourself as well as the realtor you decide to help you on this journey. 

-Understand what you want. What are you prioritizing? Location? Cash flow? Future growth? Is this a long term or short term play? This will help with the point above but also let you decide quickly when something you want does come on the market. 

-Do not underestimate the single family home. My best friend purchased a single family home that pays his mortgage and then some. With the correct configuration, you can make the single family home as well when house hacking.

-This should be first but get PREAPPROVED with a lender. One of my preferred lenders has a 15 day loan close guarantee if you let them underwrite you before you go out looking. This will give you an amazing advantage over your competition especially in a multiple offer situation. 

Please feel free to contact me and use me as a resource. Good luck!

@David Esteban Hey David!

I think turnkey exists because of your very situations. It is created for long distance investors who cannot buy and manage properties on their own.

However, I would do as much research as possible on the company as well as the property you are purchasing. Check out their reviews online. See what other similar homes are selling for in the area. Are their expenses and expected rent realistic?

@Alan M. I agree that there will be a large influx of homes. In regards to the Greater Tampa area and a majority of its suburbs, apart from those with an overwhelming population of retirees, I do not see it having much of a lasting effect. It is not like all boomers will list their homes at the same exact time. I have a feeling this will be a positive long term as there is a very low supply of quality housing in the Tamp area.

For other areas such as Manatee and Sarasota counties, I could see it having a much bigger effect as the areas are predominantly populated by the older generations. That could lead to a dip in pricing there as the demand for those properties is lower than that of the Tampa area.

Overall, I think it is a net positive for the area as the boomers selling their homes allows for more Millenials and Gen Xers to be able to purchase a home in the area and establish roots.