Newbie, thinking to start rental business with current home

Newbie, thinking to start rental business with current home

Central Florida 路 Member since 2019 路 88 posts 路 10 votes

Greetings from Kissimmee, Florida. The name is Deb and I am thinking about becoming a RE investor by way of rentals maybe wholesaling. I'm looking at all things, but my husband and I are looking to move soon and are considering putting up the current home as a rental so that seems like a good place to start. When we purchased the current house, the market was crazy for the size we wanted which got us to looking at larger homes that needed more TLC, then in about ten years we could sell and use the profits to buy something that fit us better. Now we are thinking that we might try renting it, but it is in a HOA, even though I know others have rentals in the neighborhood it worries me. A Real Estate agent told me that we could try it for a while then sell in three years and not have to pay the higher capital gains, so that might be a nice trial but still I worry. I'm a worrier. Anyway, I've been doing a lot of reading about all the ways to invest in RE which brought me to BiggerPockets.com. Unfortunately, I not only have more worries but more questions, thankfully with a large dose of excitement. I am in search of any tips, tricks, and connections that this site may bring my way that might help to ease my worry and lessen my questions by increasing my knowledge 馃槉. I don't know what I have to offer at this time other than sandals on the ground for anyone looking to invest in the central Florida area, but let me know. Thanks for your time and I wish you all a happy day.

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  • Justin WindhamPro Member
    Banker 路 Nationwide 路 Member since 2015 路 4k+ posts 路 1k+ votes
    7y

    @Deb R.

    Welcome to Bigger Pockets!

    This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

  • Real Estate Broker 路 Kissimmee, FL 路 Member since 2016 路 35 posts 路 25 votes
    7y

    Where in Kissimmee are you Deb? HOAs are not really an issue for STRs as the county is totally pro STRs themselves. There probably isn't anywhere else in the world with so many STRs in such a small area. :)

  • Central Florida 路 Member since 2019 路 88 posts 路 10 votes
    7y

    Good to know @Michael Peach thanks

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