All Forum Posts by: Josh Green

@Taylor Lyons don't hesitate to reach out/connect! I'm a local investor and realtor and I specialize in 2-4 unit properties, house hacking and short term rentals. There's a local REI meetup coming up in the next week too and I can send you the details 👍🏼

Quote from @Juan González:

Hi everyone!

First time posting in the forums after I decided to take action and start my real state journey! 

I wanted to ask the BP community for recommendations on good areas to House Hack in Central Florida. It would be my first time buying a primary residence and I would like to have some insights before deciding on any specific area. 

I’m looking to move to Florida (i.e. Orlando, Kissimmee, Tampa, or surroundings) for new opportunities and I don’t know much about the area, so I was hoping to get some information on good residential areas to House Hack a Duplex or Triplex with a budget of ~$500K. Is this a reasonable price range and is House Hacking in the area a good idea for starting a family?


I really appreciate all your help and thoughts on this! Looking forward to hearing from the BP community.

Thanks,

Juan

Hey Juan,

I'm an investor and investor realtor in the greater Tampa/Clearwater/St Pete area.  I've house hacked several times myself and am actively helping clients with househacks.  I can't speak to other areas on your list, but moving from the Mountain West there is definitely a lower standard of living in FL in general than I was used to.  This can make house-hacking more challenging because there are more variables at play.  One of the great benefits to buying here in the Tampa/Clearwater/StPete area is you get world-class amenities/beaches, lots of market opportunities and good rent:price ratios, and a healthy outlook on future appreciation as well.  You have two cities in close proximity to each other, with so many ways to invest in real estate.  It was a no-brainer for me when I was choosing where I wanted to live and invest when looking into FL.  If you have any questions and are interested in this area, I can definitely help you get a good house-hack in your budget.  You'll be 20 min away from multiple world-class beaches, 20 min from 2 metros, and 1.5-2 hrs away from the Orlando Theme parks!  Then, to expand your portfolio, I can help you get a solid LTR or higher cash flowing STR that you could be minutes from.  That's what I'm doing here for me, for other clients, and that's what I can definitely help you with.

Hey Willie,

I'll echo what others said - I would start by looking into what it would take to get into a great house-hack in your area. For me, back when I first started, the goal of the house hack was to eliminate my entire PITI so I could instead use those savings toward the next one and the next. You got this - keep learning, listening to the BP podcasts, asking questions, live intentionally and within a short number of years you'll see your net worth and opportunities exponentially grow. You'll get more out of real estate than you ever put in.

Generally speaking, you're looking at 20-25% downpayment programs and rates around 1-3% of the par rate you'd get with a conventional loan. You're going to want to talk to a mortgage broker - keep in mind that for example a DSCR you are not supposed to be intending to occupy, that doesn't mean you could never occupy it. If that's a route you choose, for example, you could hypothetically never have the intention to occupy but say after closing plans changed and you need/want to occupy the property. As far as I'm aware, this is fine as long as you're paying your debt obligations on time.

@Christian Jimenez I would do a monitor or two, a desk, office chair, and that's it mainly!

Make a data driven decision!  I would use Airdna and also reach out to the top few PM companies in the area for STRs and get their input as well.  If the numbers work, send it! 

^This is good.  Another suggestion is I would reach out to the top few PM companies in that area. They should be able to provide data on the viability/occupancy of the 30+ night rentals and issues they have come across.

@Michael Harris

I got a great one for you - give him a call and let him know josh sent ya! +1 (813) 406-3846

@Samantha Milford I helped my client get a quad in Brandon. Quite nice over there and I was shocked the rents are basically the same (for mid tier rentals) as Pinellas county. $1600/mo for a 2bd unit and so that property cash flows quite nicely

One thing is a feature I'd find to be a good return on investment is an office setup.  That could be say $500 all-in and if featured, could attract longer term digital nomads who will pay up for that convenience/feature.  I wouldn't be surprised, for example, a small investment like this could return 10x annually.