Beginner Real Estate Advice

[Jason Foley]

Hello Bigger Pockets. My name is Jason Foley and I am a 25 year old professional athlete with the Detroit Tigers. I have recently gotten extremely interested in real estate investing, particularly in the Florida area. I am interested in buy and hold investing, probably with SFH or multi family. My knowledge of real estate thus far is pretty elementary, the totality coming from "Rich Dad Poor Dad", Brandons book on RE investing and reading or watching blogs or YouTube videos.

I am interested in the Florida market simply because it is very affordable and if things go south (they wont with the help of this forum) I wouldn’t mind living there as a primary residence, as a lot of my training is done in FL.

This post is to simply welcome beginner real estate advice and if anyone has experience in the Florida area and is willing to give any specifics on places to look into/avoid or really any potential helpful info into the FL market. 

Any help is much appreciated and hope to hear from you guys!

Jason 

[Travis Biziorek]

Originally posted by @Lamar Lee:

@Jason Foley

I've purchased over 30 SFH rentals in Detroit over the last 6 years, most of which I own free and clear. Some of them I've bought tenant occupied. Most of them I bought distressed, rehabbed, and rented. I've helped a dozen or so other investors get started in the market, as well. We have a full-service team in place to help investors (in-state and out of state) earn passive income investing in Detroit.

As I’m writing this, most of the properties we are purchasing right now are in the $40k-45K (purchase and rehab) range and rent for $800/month. After PM, taxes, insurance, and maintenance, we typically bring home $500/month on average, per property.

Its still tough to get mortgages in Detroit, especially if you're trying to capitlize on properties in neighborhoods that are undervalued (which is our strategy).

We're not a turnkey company. We are investors who were In the market before 2008, stayed in during the crash of 2008, and now have a strong position in the market today.

We’ve literally built our wealth investing when there’s blood in the streets. That’s not the mindset of most investors. We are perfectly fine holding our properties forever and cash flowing them to the grave, which is also unlike most investors.

By the way, despite all the madness of COVID, eviction memorandums etc. we had our best year of rental income, in 2020!

If this sounds like something you'd be interested in or if you have general question, let's connect.

 Dude, you keep copying/pasting this in all these Detroit threads. I get you're fishing for clients but try actually providing value and interacting with people. 

This gets old.