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Updated 2 days ago on . Most recent reply

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12
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4
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Seth Excellent
  • New to Real Estate
  • Port St Lucie
4
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12
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Looking for advice as a beginner & mentorship

Seth Excellent
  • New to Real Estate
  • Port St Lucie
Posted

Hey everyone! A week ago i shared a post about a potential build to rent project in Lehigh Acres on land gifted to me by my father. After diving deeper into the local rental market and hearing from experienced investors, i have decided to pause that project due to concerns around declining rental demand in that area. So i am back to the drawing board, and looking for help on where to get started. A little about myself for context, I just turned 21 last month. i have been working as a registered nurse for the past 8-9 month, and i currently live at home with my parents in Port St Lucie, FL. I have no student loans or personal debt and very minimal monthly costs (gas, food, etc.). I have been studying real estate since i was 15, having a basic knowledge of underwriting single family and small multifamily properties, and more. I plan to invest with my older brother who lives in orlando and works in a warehouse. I have saved about $15,000, and while im unsure of my brothers current savings, we know we will need more capital to make the first deal happen. Im actively working on increasjng my income by switching to a different nursing role, and possibly picking up a second job. I am now considering out of state investing and would love any feedback back on whether thats a smart move for a beginner, or what i should do to start out in general.  I am also actively looking for a mentor someone in the Port st lucie, FL area (or nearby i am more than willing to travel) who would be open to letting me shadow, assist , or help out in anyway possible to gain hands on experience.  Im ready to put in the work. I appreciate any advice, resources or connections you're willing to share, thank you!

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724
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338
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Aaron Zimmerman
  • Accountant
  • Chicago, IL
338
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724
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Aaron Zimmerman
  • Accountant
  • Chicago, IL
Replied

Get the fundamentals of personal finance down before you invest in property. You're wise to know $15k isn't enough in your market but pooling resources will help you. 

after that, go ahead and house hack in the best area you can that you can reasonably afford. Orlando is a great area to start investing and there's likely still upside potential. House hacking has so many benefits such as learning markets, landlording, understanding building structures and mechanicals, etc. it will Set yourself up for well into the future on other properties 

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