Hello from South Florida!!!

[Rhonda Greenhaw]

Hello,

My name is Rhonda and I live in West Park, Florida. I am just entering Real Estate because I am burned OUT from my current work! I am a Board Certified Behavior Analyst (BCBA) and I work with people with significant cognitive disabilities or mental health challenges. I recently treated the children at a maximum secure facility for youth, which was gut-wrenching and really overwhelming. In addition, therapists do not get rich - although I make a decent living, I also have a daughter with a disability (it takes a lot of resources to raise a child with disabilities), so there was never any money left over to save for retirement. 

Finding Bigger Pockets opened my eyes and has me convinced that things can improve for me financially with a sound plan. So, what I am going to be doing is converting our single family home into a STR using a HELOC to add in an extra bedroom and bathroom and to put a down payment on a new place that I am going to rehab and then LTR, and then my plan is to get an FHA loan for a fourplex.

Fingers crossed it all works out!!! I think it is a good plan - I am right between Miami & Ft. Lauderdale right by the main expressway on a cul-de-sac on the lake - that is the place I am fixing up to STR - I think it will rent out pretty regularly, I hope!

Then, my sister-in-law lost her husband last year and has a house that it too much for her to take care of so we are going to move in with her and help her. Then, I am going to get my real estate license and help her find a condo and buy her house and have her do seller financing (she has a small mortgage that I will take over plus pay her payments on the full fair market value of the home) and I will give her a down payment that she can use on her condo. Her house is in need of a lot of work and I will take that on too and then LTR that and try and get a cash-out refi to use to purchase the fourplex. My plan is to find a fourplex that I can add value to with a reno and then live there for a year and then refinance to a conventional, rent that out and buy a 20 unit apartment building. 

Whew! Wish me luck!!!

I welcome any feedback on my plans and look forward to meeting you all!