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Just starting out... In Saint Petersburg Florida.
Hello all,
I'm Joel Di Piazza, I live in Clearwater Florida.
My goal is to house hack my first home purchase. I am looking for a duplex or maybe even a single-family home with a in law suite. I am undecided on if I long, medium-, or short-term rental is the best for me. I am also curious about tax liens.
I hope to make enough cash flow subsidize my mortgage payments. Then a year later I plan to purchase another property with a goal to make me 5k a month in cash flow. And then hopefully leave my W2 job.
I am doing this because I want financial independence to be able to do traveling with my fiance. And enjoy life to the fullest.
Any and all help is welcome and appreciated. In any way shape or form. I am currently looking for a realtor and lender that is well versed with investing.
Thank you,
Joel Di Piazza
@Joel Di Piazza Hey Joel, that is great to hear you have a well thought out plan. I'm a broker in Tampa and I currently house hack myself and primarily work with other investors and individuals looking to house hack. I have a background with owning rental properties, managing STR, MTR, and LTR tenants, and flipping all in the area. I would love to connect further to discuss your search.
Hi @Joel Di Piazza,
I have some great resources for learning about tax liens. That can be a great business on it's own. I also have some strategies involving house hacking that you may not have considered. It may be more profitable in the short and long term than a duplex.
As far as STR, there is a lot of debate right now as to if there is a STR bubble, or if it has already burst. Also depending on if you want to stay in Clearwater or not there are also some local restrictions on STR. That being said STR is still a great investment vehicle, but more stringent and conservative underwriting should be adhered to. Personally, I would only purchase for STR right now on either very unique/special properties or on those that also work out as LTR.
I am a licensed REALTOR who is investor focused. I've been involved in the construction field for over 30 years and started my own construction company in 2008 when I also started flipping houses. 8 years ago I sold the construction company and began buying and holding long term rentals. By the end of this year I should have around 12-15 SFH doors and I have started looking for my first 20 unit multifamily deal.
Most of us do this to have more free time to do the things in life we enjoy. As a member of GoBundance we focus on different pillars of life to find balance between age defying health, authentic relationships, horizontal income, extreme accountability, bucket list adventures, and genuine contribution. It's not just about making more money, it's about living a life that's long and full with those you love.
One of the above pillars is giving back and one way I do that is to help people just getting started find, not just the next property and get them to sign a contract, but to also get people set on a path of success and show them the things that I wish someone had shown me when I started out years ago.
I would be glad to have a 30-60 minute call with you to discuss your vision and your goals further, feel free to reach out. Also check out the book Tribe of Millionaires: What If One Choice Could Change Everything? Or remind me when we talk and I will tell you how to get it for free. It's not necessarily about real estate but it's a fun and fast read that may help your guide your journey.
Have a great day!
Hi @Joel Di Piazza, exactly what you’re looking for can be found when working with @Josh Green as your realtor. He has helped many first time and repeat investors clients of mine, in your area, successfully invest in real estate. Reach out to him if you’re looking to take immediate action!
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@Ryan Halford Hi Ryan. I'm just starting my journey in tax liens and would love to have access to your helpful resources. Can you please share? Thanks.
Hey @Joel Di Piazza,
I would be happy to connect. I also spent time in the St. Pete/Clearwater area so I know right where you're investing. Feel free to reach out.
- Rental Property Investor
- New Orleans, LA
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@Joel Di Piazza there are some great REIAs around there so get so get to those. Do your self a favor and figure out which McDonalds Pete Fortunato meets at every day. Lots of knowledge and deal making at that Mickey D's.
@Stephen Keighery, I will have to look into those REIAs. I am not familiar with any at this time. But I am doing my best to network with local real estate people here on BP.
I will do what I can to find out the location of the Investors McDonald's. Any clues? Satellite images? :D...
Quote from @Anneta Adams Heyliger:
@Ryan Halford Hi Ryan. I'm just starting my journey in tax liens and would love to have access to your helpful resources. Can you please share? Thanks.
I'll message you in a moment.
- Rental Property Investor
- New Orleans, LA
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@Joel Di Piazza. @Courtney Fricke may have some intel
Quote from @Stephen Keighery:
@Joel Di Piazza there are some great REIAs around there so get so get to those. Do your self a favor and figure out which McDonalds Pete Fortunato meets at every day. Lots of knowledge and deal making at that Mickey D's.
Joel you are in an old school real estate mecca. Many don't know it. Go to the McDonald's at 8am M-F on 150th Ave in Madeira Beach. Pete Fortunato, one of the most prolific investors in the country, has coffee there every weekday morning. You'll usually find a table full of gray haired guys talking shop with him.
Also, plenty of meetups in your region. Check out Frank Everheart's roundtable at the IHOP in the Westshore area. I think it is on a Wednesday night each month but I can't recall which.
Sarasota has a decent REIA and Frank ^ is on the board of it. J. Scott from Bigger Pockets speaks there regularly.
Best of luck!
Hello everyone,
First of all thank you all in advance for sharing your knowledge and wisdom.
Like Joel, I too am looking at my first house hack. I've been concentrated in Pinellas County, but open to areas of Tampa if wise.
Searching for a house hack that would be a long term rental. Either a single family primary home on a double lot for us to build an ADU or a multifamily property consisting of a duplex or triplex. I'm not sure which of those would be best.
I am preferring St Pete but open to Tampa as well. Would you suggest Tampa or St Pete having the most upside for both/separately rental potential and also appreciation?
I was thinking St Pete because there's no more land to build, it also seems the city is up and coming(The approved Tropicana Project), and the proximity to the beaches. Although, Tampa is larger with the universities and jobs... So, I am somewhat torn. Which areas would you suggest in St. Pete and which would you suggest in Tampa? Would buying a BRRR south of Tropicana just a few blocks south of the development projected to be completed by 2027? It could be considered a rougher area right now, but would that change quickly after the new development?
Also, I am not sure how flood zones will be affected with the new insurance requirements. I am thinking to steer clear of any flood zones unless they already have an ADU on the property, because it would be very difficult to get one approved on a flood zoned property. This is all of course contingent on ADU's being a good idea in the first place.
Please let me know what you think about ADU's. It looks like we can do a 2/1 ADU for $130-140k and have it built on an eligible primary home's property in 6-8 months ($1200 mortgage) to return in rent anywhere from $1600-2200 depending on location.
Thank you!
Hello everyone!
How do you feel about the area just south of downtown Saint Pete now that the Tropicana project has been approved? Think it’s good area to buy for a LTR house hack? Do you foresee those older areas having high possibility of excellent appreciation over the next 5-15 years?