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Updated almost 8 years ago,
Ready to roll on first deal
I am a real estate broker in NC (originally from Florida). A bit of background...Usually having a regular J.O.B as backup, I have tried a few different ventures when I saw a need. One was new construction cleaning business. I saw booming neighborhoods near me and figured it was low overhead to start making side money. I ended up so busy, so fast, I quit my banking job. I brought home 4X what I was making in my than 9-5, I hired people, it grew, etc. Many people told me how stupid it was until they saw it work, etc. Fast forward to Moving from Fl to NC 4 years ago. My husband pushed me to real estate. He said he knew I'd be successful. Again everyone else said how much $ I'd spend and make nothing because I didn't have family, friends, connections, etc. Well, I did it and I have fun and am very successful. I can't stand when others nay-say that it can't be done. Hold my beer and watch this! LOL! I have secretly always read books, articles, blogs, even BP (without being signed up) hoping that one day I could go this route. With husband, kids,bills,etc it just seemed a bit out of reach. I'm willing to sacrifice, but the rest of the family is tougher. Now my husband is taking a job out of the country for 2 years. Practically bills free! Nothing but income. My oldest joined the military and heck, I'm letting the one at home do online school so I can move back to Florida and get started with investing.
My plan is to buy a 4 unit property and house hack it. I can live in one so that it will be a regular FHA and rent the others until I move forward. Not sure what my next move should be. We have perfect credit and my hubby will only let me play with about $25k until he feels more comfortable.
SO...any smart tips or ideas for me as possible step I should take after that? How long do I have to "season" living there until the bank will take it as income and I can move to the next deal? I'm shooting for the West coast Fl (Clearwater, Dunedin but open to anywhere in 50 mile radius) but open to other ideas. I guess my main question is, if you were me, what would you do? Thank you!