All Forum Posts by: Josh Green

Hey @Josh Green, can you assist @Austin Fultz?

I'm based in Miami, FL and currently rent, though I've been saving up to purchase a home. Home prices are high here so I'm really leaning towards investing out of state or in a different part of Florida to create cash flow vs. buying a personal residence and starting my savings over from scratch to invest.

Don't get me wrong, I really want to buy a place of my own that I can live in but the math is making a bit more sense to me if I invest first. At least that way I can use some of the cash flow to save for a personal residence.

Any advice/perspectives on how I should approach this?

Hello,

I purchased an investment property in Largo, Florida about two years ago.

My tenant called me a few days ago and noted she heard a cracking sound and the tile's in the entry way started to lift.

I got a foundation contractor to come out to the house and he noted I have raveling soils as well as many other houses in my area and that my foundation is slightly compromised. He gave me the following options:

OPTION 1: $20,000 - Rip up the floor and pour chemical grout in that one area and retile the floor. He noted I may have issues in other areas of the house later on and need to do the same process.

OPTION 2: $55,000 - Lift the foundation of the house and do a new foundation around the perimeter of the whole parcel. He noted this is likely the best long term option as I should have no other issues moving forward.

I am confused and a little shocked as the inspection report from two years ago came back as structurally sound. The only comment from the inspector was one of the rooms had a floor that was slightly slanted but he said that is normal as the house was built in 1954 and that's normal in older houses.

Any advice would be greatly appreciated.

Hi all! I have an opportunity to jump into a turn key triplex in a nice part of town in a high appreciation market (St Pete FL!). This property should cashflow anywhere from $200-800 (net) depending on what I can rent it for/how accurate the comps I've found are. The catch is, it would cost us ALL of our savings... (but we would still have about 10k in our biz account). Is this too risky? We are very good at saving so can prob build it back up fast. My aunt (who is not a successful real estate investor, but has some experience with flipping) says I shouldn't jump into a triplex because I'm too new. She says I should start with a duplex and work my way up. There is also a nice duplex which wouldn't be ALL of my savings that I have my eye on but it would not cashflow as much. I kind of feel like it's more risky for that reason. I am a brand new investor with one other property which I have been STRing for 2 years. I feel ready to jump in to my next deal and love the thought of a triplex, but I know there are risks involved; especially since I don't know what I don't know. Would love to hear from some more seasoned investors. Thanks so much for your thoughts!

Hey everyone, I will be moving to tampa in a few short weeks and still haven't found a place!! My job will be transferring me onto the macdill afb (I'm not military) in a few short weeks. I've been looking on zillow, redfin, rently and Facebook. The ones on zillow and redfin ask for more than I can afford and credit won't qualify me. Rently and Facebook shows some potential but still looking.( BTW, How do I know Facebook listing's aren't scams??) I'm just looking for someone to give my family a chance. My current living situation is very stressful but keeping positive. I do want to get into real estate very soon so I do know some of the process so i know we'll be excellent tenants.

Hi everyone - My husband and I reside in CA and looking to purchase our first STR.
Any tips/pros and cons on where to invest which will provide good cashflow? We will hire a property manager so that will be 20% commission. We qualify for $1M but not sure if it makes sense to invest that high for one STR. Our goal is to have multiple properties with positive cash flow over the next couple of years. 
thanks in advance!

Anyone with experience of success in Clearwater with STR? I'm interested to invest in the area, my husband and I are exploring all different options!
I appreciate any insight! 😊

Family owns a property in NYC. We are thinking about selling it and investing in Tampa through a 1031 Exchange. What areas in Tampa do you recommend for a decent cash flow. We want to buy single family homes for rent.

If Tampa isn’t a good idea, please feel free to recommend areas in Florida.

Thanks in advance

Hello everyone. I'm brand new to Bigger Pockets but not so brand new to the real estate game. To give a brief background, I've flipped 2 properties and am now looking to venture into rentals. I know of FHA loans and that seemed enticing, but in my area (St. Petersburg FL) with the "low income" I'm making (around $4,200 per month) at my job, it's proving difficult to find a multi family property that I can afford with month to month tenants or with 1 vacant unit. I'm very very handy, jack of all trades if you will, so I can renovate properties without breaking the bank in labor costs. My question to everyone is this. With just under $100k in the bank to invest, how would you make your next move? Flip a few more properties? Dive into rentals to get more monthly income coming in? Wait for the intrest rates to drop a little? Move somewhere that isn't so expensive? I'm at the point where there are too many options for me and I can't decide which is the best course of action. I appreciate any thoughts and comments.

Hi all, I recently posted about buying a rental in Tampa and got a lot of good replies. Since then I figured out since I meet the income threshold I could consider it a "second home" vs. rental investment so I could put 10% down, which has me even more interested. I wanted to do a follow up post to get everyone's thoughts on the other things I am thinking about currently as I crunch my numbers and look for properties:

-Trying to decide on whether I would want to rent on a short term or a long term basis. Leaning toward a turn-key property and renting it out long term - easier to manage, don't have to furnish, reasonable property management fees (~10% of monthly rent income from what I've read), and more stable income. Seems like short term would likely generate more revenue but not really sure about profit when you consider vacancy and property management fees of ~30% (I would consider remote management but I would think cleaning fees would still be ~$400/mo. which is high). Thoughts?

-On that point, what are the best areas/neighborhoods for short term rentals and the best areas/neighborhoods for long term rentals in the Tampa metro (willing to go outside of Tampa city limits to areas like St Pete/Clearwater/etc.)?

-Touched on it a bit above but what are everyone's thoughts on hiring a property manager for a long term rental? And for a short term rental? 

-Lastly, any areas I should avoid that have had flooding issues in the past? I have heard the St Pete area can be bad...

-Any other specific tips for the Tampa market would be welcomed!

Thanks!

Trace Adams