First Buy and Hold in Ocala, Florida

[Michael Hopkins]

Hello Bigger Pockets members,

My name is Michael Hopkins. I am 24 years old.I am a new investor in the Ocala, FL (Central Florida) area. I Have listened to almost every podcast and read many of the Bigger Pockets books. I first was introduced to real estate when a family friend asked me to property manage his rentals. I had and still have a full time job in construction, so this was just something I did on the side. He didn't really have much structure and i was kind of just thrown into it. I slowly got the hang of things and then ran into Bigger Pockets to answer many of my questions. I got the "real estate bug" after I started listening to Bigger Pockets podcasts.

I am happy to say that I have closed on my first buy and hold SFR. Probably not the best time to be involved in your first deal while dealing with a global epidemic (Covid-19.) I closed on February 7th and I am currently about to finish my rehab. I hope this virus will not affect getting a renter in the home. Ocala is a hot rental market so i don't think it will affect it too much.

My goal is to grow a real estate portfolio large enough to match my current income. I am in search to find another deal before the end of the year. I have a private lender that is ready to do another deal with me. If anyone in the Ocala area has has any SFR they are looking to sell feel free to send them my way. I would love to connect with more investors in the area.

[Clay Lehman]

Good afternoon @Michael Hopkins!!  Congratulations on your closing.  I am also a real estate investor in Ocala.  I don't think it is a bad time to get into real estate investing as long as you do so in a cautious and disciplined manner.  There is never a perfect time to do any type of investing, but taking a measured approach, you can protect your self from risk.  

In terms of the rental market in Ocala, it is definitely still extremely active, even with all of this going on.  We have had more showings and applications in the last 2 weeks than I can remember having in a long time.  I was concerned that the bad news and social distancing that renting would slow down, but so far that has not been the case.  If you price your rental right, you should have no problem getting it rented.  We have a whole set of tools we use to make it easier for the tenant to rent the home without violating the rules of social distancing.

I agree with what others have said, read books and listen to podcasts.  I will tell you, you have taken the biggest step, which is executing on your first purchase.  Congratulations!!  Let me know if you ever want to connect directly, there is so much value in networking with other investors locally.

Sincerely,

Clay