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Updated 5 days ago on . Most recent reply
Hello from Pensacola, FL
We live in Pensacola and are just starting on this journey of rental investments. We are excited to soak up as much knowledge as we can from everyone that has been in our shoes. Our goal is to get proficient at finding the best bang for our buck on our first rental, which is why we are looking to purchase sometime next year. Since we are familiar with our area and market our thoughts are to start in our own backward, investing in a single family home. We would appreciate any and all advice! I think for us, our main question would be, when did you know you had found the right "first one".
Most Popular Reply
Love seeing your excitement, Jay — we were in the exact same shoes a few years ago.
Honestly, we analyzed properties for almost a full year before finally pulling the trigger on our first duplex. We were terrified of making a mistake. In hindsight, it wasn’t as big of a deal as we made it out to be — we bought in a neighborhood we felt good about long term. It ended up being the right call — that property has gained over $400K in equity, and the rents have doubled over the last couple years, and we’ve bought several more since.
My biggest advice? Take action & get a team.
Work with an agent who invests in real estate — they’ll catch red flags and help you think like an investor. Same goes for your lender — someone who understands investing can be a game changer when it comes to financing strategy and avoiding pitfalls.
Wishing you all the best in Pensacola! Happy to share any insights if you ever want to connect. As mentioned, I invest and also am a mortgage broker specializing in working with investors. :)