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Updated over 8 years ago, 08/01/2016
New investor - CT & FL - many questions
Hi all!
I currently reside in CT and am anticipating a move to the Orlando, FL.
I have two 3-family rentals in CT and trying to decide where I will settle. Been in CT all my life but wanting to head to FL (specifically Orlando).
Moving forward, I don't know if I should build my portfolio in CT or FL. I am jealous when I read so many having so much financial freedom. Basically, I have been saving money to purchase the property and renting an apartment myself.
I've been really disappointed with the guidance I've received from the realtors in Orlando. They can't provide the numbers in terms of what rents go for, let alone know what to "suggest". Some say vacation rentals, some day long term, yet none can back up with property managements, returns, etc. I always feel like I'm being upsold or just given bad info. It's been a struggle.
I wish I had the funds to just say "buy it all!" but I don't, and frankly don't understand how people have the money (or work with lenders) to get their portfolios moving forward. My personal comfort level is buy and hold rather than flipping.
If anyone wouldn't mind sharing some tips, advice, or just general steer me into the right direction, I would love it. I have a ton of questions but it's been hard to find reliable information for me so I'm all ears and thank this community for existing.
I don't come from money at all and didn't study business, so I'm trying to continue working towards my goals (basically having a decent income to live off without the need of working full time).
Thanks in advance!