Aspiring Real Estate Investor - NJ to FL

[Mark Laskey]

Quick Note: This post is an introduction to who I am, what I do, my current situation and what my plans are in the near future.

Hello everybody and I'm glad to have stumbled upon the BiggerPockets community!

Background
My name is Mark and I'm a single 29yr old male currently living in New Jersey. I work as a Remote Software Developer (even before the pandemic) for a company in Ohio and make a decent salary of $90k + bonus. My financial situation is pretty stellar (not trying to brag). I'm debt free. No student loans, no car payment. Just a credit card I pay off in full every month, a car insurance payment (2006 Honda Civic 150k miles), rent & sitting on a 800 credit score.

I've pretty much rented my whole life. Growing up, I watched my parents move place to place and rent each property. For the last 3 years I've been renting around the area, but living with at the time a girlfriend & now with roommates to minimize my expenses. Over those 3 years, I started developing the financial education around how to put my money to work. I currently have $45k saved up between savings, stocks & crypto. I've been contributing 10% of my pay to my 401k with a 5% employer match at 100% matched. The 401k is worth about $20k currently. I want to put my money to work to make more money!

As for my background in REI, it's still at the beginner level. I started diving deep into REI about 4 months ago by purchasing Meet Kevin's REI course and I'm currently 36% of the way through. I stumbled upon BP about a week ago and have been binging podcasts as much as I can. There is a gold mind of knowledge in these podcasts and I've been using them to supplement what I'm learning in the course. I don't have a circle yet, but I'm going to start taking steps towards building these connections.

What is the future plan?
My lease is up at the end of May. I'm packing my bags, moving out of NJ and my eyes are currently set on FL. Why?

1) I've lived in NJ my whole life.
* I want to experience what the rest of the country/world has to offer. Working remotely will allow me to do this. I love NJ and everything it has to offer, but I would feel unfulfilled if I never lived outside of the Tri-State area.

2) Stepping outside my comfort zone
* This is similar to the above bullet point. When I think about leaving my family & friends behind, I get this feeling of uneasiness in the pit of my stomach. I know I can always return home, but I want to capitalize on this uneasiness. I've heard Brandon say before that we can't grow complacent and that taking risks such as these is what opens the door to financial wealth.

3) Take action!
* Between now and May I plan to gain as much knowledge as I possibly can. I can plan all I want, but we all know that things don't always go the way we want. The best education & experience you can gain is by doing and I'm ready to take that step!

Where in Florida?
My key points of interest are currently Kissimmee/Orlando, Lakeland, St. Petersburg (and the surrounding area - Clearwater, Dunedin, ect), & Ocala.

Top 3: Kissimmee, Lakeland & Ocala
They are located near major cities and attractions (Kissimmee -> Orlando/Disney).

What property types & strategies?
Ideally, I'm looking to house hack an undervalued duplex/triplex with a 5% FHA 203k loan most likely in Kissimmee that will generate net worth + modest rental income. I don't want to overthink past that, but I believe this will be a good way to dip my toes into the market. BRRR's have caught my attention as well.

Conclusion
If you've made it this far, thanks for taking the time to read my post, I appreciate it!

I'm excited to start my REI journey, learn & share as much knowledge with like-minded individuals! I'm determined to start building my circle, put in the work and bring value any way I can.

If you're in Florida, mainly around the cities mentioned above, I would love to get in contact with you and just chat!  Also, I know there are forums dedicated to the surrounding major cities which I will be cross posting in :)

[Tyler Gibson]

Originally posted by @Mark Laskey:

Quick Note: This post is an introduction to who I am, what I do, my current situation and what my plans are in the near future.

Hello everybody and I'm glad to have stumbled upon the BiggerPockets community!

Background
My name is Mark and I'm a single 29yr old male currently living in New Jersey. I work as a Remote Software Developer (even before the pandemic) for a company in Ohio and make a decent salary of $90k + bonus. My financial situation is pretty stellar (not trying to brag). I'm debt free. No student loans, no car payment. Just a credit card I pay off in full every month, a car insurance payment (2006 Honda Civic 150k miles), rent & sitting on a 800 credit score.

I've pretty much rented my whole life. Growing up, I watched my parents move place to place and rent each property. For the last 3 years I've been renting around the area, but living with at the time a girlfriend & now with roommates to minimize my expenses. Over those 3 years, I started developing the financial education around how to put my money to work. I currently have $45k saved up between savings, stocks & crypto. I've been contributing 10% of my pay to my 401k with a 5% employer match at 100% matched. The 401k is worth about $20k currently. I want to put my money to work to make more money!

As for my background in REI, it's still at the beginner level. I started diving deep into REI about 4 months ago by purchasing Meet Kevin's REI course and I'm currently 36% of the way through. I stumbled upon BP about a week ago and have been binging podcasts as much as I can. There is a gold mind of knowledge in these podcasts and I've been using them to supplement what I'm learning in the course. I don't have a circle yet, but I'm going to start taking steps towards building these connections.

What is the future plan?
My lease is up at the end of May. I'm packing my bags, moving out of NJ and my eyes are currently set on FL. Why?

1) I've lived in NJ my whole life.
* I want to experience what the rest of the country/world has to offer. Working remotely will allow me to do this. I love NJ and everything it has to offer, but I would feel unfulfilled if I never lived outside of the Tri-State area.

2) Stepping outside my comfort zone
* This is similar to the above bullet point. When I think about leaving my family & friends behind, I get this feeling of uneasiness in the pit of my stomach. I know I can always return home, but I want to capitalize on this uneasiness. I've heard Brandon say before that we can't grow complacent and that taking risks such as these is what opens the door to financial wealth.

3) Take action!
* Between now and May I plan to gain as much knowledge as I possibly can. I can plan all I want, but we all know that things don't always go the way we want. The best education & experience you can gain is by doing and I'm ready to take that step!

Where in Florida?
My key points of interest are currently Kissimmee/Orlando, Lakeland, St. Petersburg (and the surrounding area - Clearwater, Dunedin, ect), & Ocala.

Top 3: Kissimmee, Lakeland & Ocala
They are located near major cities and attractions (Kissimmee -> Orlando/Disney).

What property types & strategies?
Ideally, I'm looking to house hack an undervalued duplex/triplex with a 5% FHA 203k loan most likely in Kissimmee that will generate net worth + modest rental income. I don't want to overthink past that, but I believe this will be a good way to dip my toes into the market. BRRR's have caught my attention as well.

Conclusion
If you've made it this far, thanks for taking the time to read my post, I appreciate it!

I'm excited to start my REI journey, learn & share as much knowledge with like-minded individuals! I'm determined to start building my circle, put in the work and bring value any way I can.

If you're in Florida, mainly around the cities mentioned above, I would love to get in contact with you and just chat!  Also, I know there are forums dedicated to the surrounding major cities which I will be cross posting in :)

What a great introduction! Thanks for sharing. If you have questions or need help don't hesitate to ask!