All Forum Posts by: Charlie Cameron

Meetup for real estate investors, professionals, and newbies alike! This will be a great opportunity to teach, learn, and network.

This will also be an opportunity to learn about becoming a real estate agent and about eXp Realty, the fastest growing brokerage in the nation. Come learn about the unique benefits of this game changing company.

This will be a low key event - Order yourself some food/drinks, and come & go as you please.

Please RSVP, so we are able to reserve enough space for our group.

Meetup for real estate investors, professionals, and newbies alike! This will be a great opportunity to teach, learn, and network.

This will also be an opportunity to learn about becoming a real estate agent and about eXp Realty, the fastest growing brokerage in the nation. Come learn about the unique benefits of this game changing company.

This will be a low key event - Order yourself some food/drinks, and come & go as you please.  

Location: URBAN BBQ & Brew, 2601 Central Ave, St. Petersburg, FL 33713

Please RSVP, so we are able to reserve enough space for our group.

Extra comment: use tools and tenant training to help you out. I used a property management tool that put everything (leases, applications, listings, rent payments) all online and automated. Set up bills on autopay/draft (but do track them). I used a google voice number to keep tenants a layer removed and forward calls as emails in case of emergencies. And I had all current tenants text as primary communication.

The fun thing is, you’ll find many PM’s DONT do all these things which blows my mind.

@Jared Conway definitely what @David Pere said. I’ve been cell phoneless for 4

+ years straight (I’m at a class this week!). During that time I bought and managed 8 apartments, then turned them over to management after a year, and bought 16 more in a partnership.

Limitations are imagination!

If you need any help with anything, feel free to reach out. I’m active duty as well.

Welcome @Anthony Lilley!  First of all, you have to come out to a local investor meetup.  There are Fort Walton and Niceville versions.  Unfortunately I probably won't see you there until April (temporary reassignment), but you'll meet great folks who can answer these questions.

You could look at Crestview as well.  Might better support your numbers.  I was able to by a 3/2 in Niceville that even during a recession should at least break even as a rental (that was my biggest requirement), but I did put some money down and renovate the master bath.  A 4/2 might be more difficult to get a deal on that makes sense without needing some rehab.  

You might consider an FHA 203K renovation loan. I was going to use one but for the level of renovation we just didn't end up needing it. But you could easily use that to perform the work before you move in but not have the interest rate of a hard money loan. A hard money lender is another option you could use to fund a rehab and then refinance it to a VA loan for yourself. For both the 203K and the hard money, you'd likely have to have a general contractor do the work (I know a few). There are limitless possibilities! You don't HAVE to live in a BRRRR. I'm with you, I wouldn't put my little one in a construction zone either!

When are you thinking of buying? If it is after April, I'd love to help you out. I'm active duty, have used the VA loan, and I'm an investor, so I think I can help you with the right deal. If it is more near term, then you should definitely talk to @Matt "Roar" Gardner.  He also fits all those criteria (and then some!).  

@David Maldonado Makes sense to me. I got started in REI when I realized how slow mutual fund investing was. I don't subscribe to the "work until 67" model - seems pointless to me. Index funds were not going to get me there. Real estate will enable me to, at the very LEAST, replace the active duty portion of my income when I hit military retirement. Then in my forties, I can decide what I want to do each and every day (probably start a new business). My plans are much grander, but that's the fall back.

Yeah those numbers may not be worth the effort then of filling each room instead of the entire property.  

Shoot me a message if you'd like to chat sometime!

@David Maldonado For whatever my advice is worth... let me start with my own experience so you know where I'm coming from: I'm active duty, with a degree in engineering, doing program management.  I purchased 24 multifamily units thus far with no formal real estate education.  Oh and I'm a licensed agent in Florida as well.  

I've networked with a LOT of real estate investors and agents.  I don't know a single one with a degree in real estate.  I don't know what that indicates or means, but it's my own data point.  

But if I were you, I wouldn't spend time and money (or GI Bill entitlement) on a degree program you don't enjoy or don't think you'll enjoy.  

Contrarily, almost any skills you learn in any degree program or career field can apply to real estate.  My experience has translated to excellent networking, management, and analysis skills.  But don't ask me to be handy... that I am not!  For you, I presume social work involves a lot of interacting with people; a PERFECT skill to master for real estate investing!  So I wouldn't say it's a loss to start there, just a different path.  

I tell this to every vet and single active duty person I meet: I love the VA loan house hack idea. This will put you on a fantastic path by reducing the biggest expense most people have. I wish I'd known about real estate 8 years ago, but here we are. I didn't discover REI until just over two years ago.

Have you thought about renting to college students?  If you rent by the room, you may be able to push up your rents in Fresno.  I'm not at all familiar with the market, but worth looking at!  

Best of luck to you!

Hey @Jordan Garcia.  I'm an agent and investor in the FWB area, I live on the Niceville side of the Destin bridge.  Me and the team are happy to help.  Let's get in touch!  

@Kristopher Kyzar Welcome brother!  I'm sure a hustling agent in the Charleston area will respond shortly, but if not let me know and I'll find you one that suits your needs.

Sounds like you plan to do real estate full time after active duty?  My plan as well!  Have you considered that you don't necessarily have to start with flips to get into apartments?  I started with a package of two fourplexes and just closed another 16 units as a 50/50 partnership.  

Have you also considered getting your real estate license if you want to invest exclusively in SC?  There are benefits for active duty military, and depending on the state, for a few years after that (waived application fees, lessened continuing education requirements, etc.).  With your license, you can make some extra cash on every transaction you do.  Maybe do some sales for others on the side to boost your income, only if you want another hustle (again, sounds like you may not).  

One more thought: if you are already investing out of area and putting management in place, why limit your area?  You can invest ANYWHERE.  I'm in florida, my apartments are in ohio.  Let's just say with management in place, the money I make per hour of work on those investments is about 5X my military pay!

I'll send you a connection request.  I'm also trying to not have a "real job" again after the military, so I'd love to share ideas!

Best of luck to you man.  Let me know how I can help.  

@John Ballard Have you thought about house hacking a single family or a townhome with multiple bedrooms?  You could perhaps get one of those for a lower price but still rent the rooms out for 500+.  Now maybe the numbers close.  You'd have to be good with having roommates.  You could even airbnb the rooms, which might net higher per month in Tampa.  There is an AirBnB calucator here on BP which might be useful.  

For your math, look at the payment (including taxes/insurance), repairs (short term), capital expenditures (long term), and utilities.  If you aren't sure about insurance, take an example property and plop it in to a free quote calculator (USAA does that if you use them).  You can always get free quotes.  

Yeah some areas have TONS of multifamily, and some have zero.  I just moved from one market type to another.  Vastly different.  Just learn, pivot, and crush it, sir!