All Forum Posts by: Edgar Rodriguez

Hey @Yanis Ropalo

What kind of duplex deal are you looking for? Condition/price/etc

If the plan is to rent them out after, I would suggest looking in the suburbs at homes under 200k. They are in, mostly, safe areas and have a consistent tenant base. They are not the sexiest or splashiest but will definitely cash flow better than the units you are currently looking at. 

If you wanted to be closer to the action and maybe break even on rent, you would want to stay below 400k and in the downtown Tampa or possibly St. Pete area. 

Besides that, you would want to buy a fixer upper as mentioned by the others above. 

Hey @Joseph Peck !

Welcome to the party sir. Do not forget your hard hat! You also picked a heck of a time to start with this low inventory situation we have. Haha. 

Hey @Jordan Diaz

What property class are you looking into? Meaning multi, condo, single family, etc

Most single families that are built within the last 30 years and do not have major 4 point issues will probably run you around $1500 a month. That obviously depends on location and price as well but that is a good baseline. 

Once you get into different situations, it varies a lot.  

Hey @Jesse Bibbee

I think that there's good reason to wait a little while before purchasing something to live in. You obviously do not know the area so things like traffic patterns, restaurants, points of attraction, etc will be very difficult to figure out. There is also the question of how long you will be living there. 

I usually recommend to most of my clients to either get a short lease (7 months) when they first move here or live with family or friends if they have any in the area. That will give you time to learn and also flexibility if you do find a property. 

Hey Weng,

I would personally do it! If I may ask, where is this property being built? Seems like a pretty good deal especially for someone looking for something that will be low maintenance on the capex front for a while. 

Your best bet on a new build is $110-120 a foot. However, those prices vary a lot especially since the price of lumber has jumped up recently. I actually know a gentleman who finances a lot of new builds who would probably be a great help. 

If you have an agent, you can also ask them what the new build would sell for before splitting them just to make sure it is within your profit range. 

Hey @Holton Irwin 

I am an agent in Tampa area. If you want to send me a message, I would be more than happy to share some insights and knowledge even if you do end up using someone else. 

Hey Shai! I have lived in both Orlando and Tampa. In Orlando, I was a broke college student so I was not able to experience everything in full. However, real estate and life wise, they both are very nice in my opinion. There are still opportunities in both areas to invest. I really think it is important that you come and actually visit the areas and go more in depth maybe in regards to your lifestyle and investing strategies. 

Good luck!

@Marissa Miles Hey Marissa! Welcome!

I think the first step is always education. Browse the blog posts, listen to the podcast, buy some books. Do anything to help you figure out what you want your strategy to be and if it is achievable in your desired area. 

Then, you can start analyzing deals even as practice and see what makes sense and what does not make sense for you. After that, find a good lender that will be able to get you into the right loan to make your goals possible.