All Forum Posts by: Mya Toohey

Welcome to Bigger Pockets~!

@Sameer Deshmukh

Hi Sameer, I am a Real estate agent, investor, property manager and run short term rentals here in the Tampa, Florida area. I actually represent clients from San Diego who bought their first rental investment property in New Port Richey 3 months ago. We are on our third property now. It just depend on what kind of market you want and how hands on you want to be. If it's just a numbers game and you will be hiring a property manager, then I would buy B/C neighborhoods that need work, use the BRRRR method and rent section 8. There is a lengthy waiting list here. Florida is a huge market for out of state, even out of country investors. You just have to find a good agent and people you trust. Those things are the most important and I would work on those relationships first! All the Best!

@Cade Armstrong

I Cade, I am a Realtor here in Tampa, Florida....Leverage your money. You can purchase a multi-family home for you to live in with an FHA loan. You will need to be employed with a consistent paycheck. Secondly, you could, if you have enough cash in your investment accounts, use those to fund your down payment without tax penalty. You can then use sweat equity to rehab property and after 2 years of ownership, Refi out the cash you gained in equity. Then use the cash to invest into your next house hack. That's what I would do. Best of Luck!!!!

@David Duquette

Hey David, I am a Realtor in the Tampa Bay, Florida area. I have two clients that are Realtors themselves. While yes, it does save you some money but it does open you up to OWNER/SELLER liability. It is a very hard thing to manage. Also, if you really want to be a full-time investor, you won't have the time to mess with handling setting up showings, inspections and all of the paperwork that goes with it. You will find yourself not having anytime to look for deals and spending all of your time on the deals you are trying to sell/rent. You can make it worth the agents time to have them assist you on a limited agency. Only helping with certain parts of the deals. You just need to see if your state allows you to an agent but not be part of the MLS. Florida allows you to do that. All the Best to you!!!

   Welcome to Bigger Pockets!

@Kevin Freeman 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $240,000
Sale price: $379,000

Home totally gutted when purchased. Needs all finishes, kitchen and two bathrooms. SOLD 15k over asking!

TO ALL INVESTORS, REALTORS, VACATION RENTAL OWNERS, HOME STAGERS, CONTRACTORS, any 1099 employee, BUSINESS OWNER and everyone in between, IF YOU ARE IN NEED OF FUNDING because of Covid 19 losses.  You can still sign up for your forgivable PPP loans until August 8th.  Also, if you haven't signed up for EIDL loans, they are still open as well.  I hope this helps!  Stay safe out there!!!!!

@Cameron Chambers

Before I became Realtor I was on Bigger Pockets and followed their BRRRR strategy. I am now a Realtor, investor, Short and Long Term Property Manager and AirBNB Host/Owner in Tampa, Florida. I started in my hometown Louisville, KY by buying a home in an up and coming neighborhood that needed some work but not too much (before I was a Realtor). I bought it for $79,000 put $10,000 into and got it rented for $1000 a month. We put 20% down and held it for 2 yrs. Paid the mortgage and took the profit and saved it for our next project. After that time, we refinanced it at the appraised value of $119,000. At that time we then took that profit and invested in a flip with another experienced investor. We put $15,000 in on the deal and made $25,000 back in 4 months while doing nothing. It's the best way to slowly gain capital with minimal risk. We learned every inch of how to rehab while working with this other investor. So, for passive income this strategy worked great for us. I of course went on to rehabbing, got my real estate license in Kentucky, and doing real estate full time and sold over $6 million dollars of Real Estate in the two years after that. Everyone has a story, good or bad with Real Estate. You just have to make sure you do your research and get a good Agent to help you with your purchase (trust me, you will be glad to have someone on your side!). Best of Luck!

@Account Closed

I agree with the above. I'm am a Realtor in Florida and have a lot of clients that make off market purchases. Wholesaling, FSBO and Auctions. They use me to be the intermediary and I don't always take a percentage but a flat fee for the transaction. Also, the seller pays the agent at closing for their work. Most people understand they have to pay an agent to buy their home, they just want to get of the listing fees.

I have worked with Keystone Title.  They have helped me with questions and lien searches for my investors prior to buying.  I work in Pinellas, Hillsborough and Pasco, I use them for all my closings.