All Forum Posts by: Jossalyn Wallace

Hi! It sounds like House Hacking is going to be the way to go. Look into first time home buyers programs or do an FHA loan so you have a low downpayment (maybe put the remainder of the $ towards another property for additional cash Flow down the road). You can maximize your cash flow by renting out by the room or purchasing a multi family. Im not sure you will cash flow 3k but at least live for free + some if you do it right! Good luck!

I don't think it matters much what the sellers have to say. In any deal it boils down to numbers and location. If they can provide previous rental income, awesome. Even then, studying the area and rents is important or finding someone you trust who does; we have many companies in our market that will provide rental projections. Maybe I would be curious why the seller is selling but it ultimately doesn't matter if the deal is good.

Awesome! Reach out if you need any contractor recs etc!

I always think its smart to diversify if you can! I live in a very strong STR market on the Fl Panhandle but we also have a great long term market because of the military bases surrounding us (LOCATION LOCATION LOCATION). It always makes me feel good knowing I can rent my properties out either way if there's ever a shift. Our STR here have very low vacancy so I don't see the demand going away any time soon.

Florida! I like the Panhandle but I am partial because I live here. 

Im not sure if you have Hancock and Whitney in your area but I know by me, they offer some products like that! 

I came from the Raleigh, NC market and I think the opportunity in NC as a whole is pretty good. They have tons of developing tech companies and major businesses and consistent growth in the area. I am now located in the Florida Panhandle and we have a really strong rental market with great appreciation generally speaking. Our economy supports both short term and long term rentals because of the tourism and the military bases in the area. I have also been looking into locations as I don't think the opportunity is limited! 

I'm located in the Florida Panhandle and we have a great cash flowing short term and long term rental market here. You could take either approach because we are a tourist and military town. However, entry price for something that is going to cash flow you well is likely 350k+, not sure of your budget.  Something to consider! Good luck! 

I would say it depends on your goals! Whatever it is, make sure it aligns and do your research. How is your local market? 

Looks like you've gotten some great info already! I definitely wouldn't rule out townhomes. Townhomes off of Front Beach Road tend to gross really well and have lower HOA , I would also consider that!