New in Pensacola FL and Eager to Start Investing

[Josh Hitt]

Hey all!

I'm fresh out of college and just got down to beautiful Pensacola to start training with the Navy. I've always loved the idea of REI but always figured it was either too difficult to compete or only for the rich. Have had a lot of time on my hands lately and have been using that to absolutely soak up as much information as possible through books, podcasts, and the BP forum. My mentality has completely changed and I can't wait to make my first purchase and begin the real estate journey.

I'm already grateful that I've come across this forum and all this information at a relatively young age and I'm ready to jump in and start learning from hands-on mistakes. I can't wait to get to know you guys and maybe start connecting with locals in Pensacola and doing meet-ups once things start opening back up. 

Right now I'm definitely most interested in House Hacking but unfortunately it looks like there's not many Multi-Families to chose from (at least on Realtor, Zillow, Trulia) here in Pensacola. It's looking like I might have to instead resort to a SFH and rent out the other rooms for the time being. I'd say my next step is to start getting in contact with local wholesalers or realtors to see if the MLS has any available that I don't have access to or to try some off-market lead acquiring techniques. Either way just trying to analyze as many deals as possible to get in the practice for when a good one hits.

Look forward to hearing from you guys!

[Joshua Ferrari]

@Josh Hitt

Hey Josh! Welcome to BP & to the beginning of your investing journey into financial freedom.

House Hacking for your first deal is a great idea, and is the exact route I decided to take.

I’m just 45 minutes West of you, in Mobile, AL. I’m not super familiar with the Pensacola market, but I would definitely recommend P.I.G. (Professional Investors Guild) 

Begin networking with like-minded individuals and try to avoid a lot of those costly mistakes on the front end. Trust me, it’ll be worth it to wait and learn those.

If there’s anyway you could find a mentor or someone you could work for, that’s doing what you want to do, and is where you want to be in life, then it would seriously catapult your success exponentially. 

I’m a multifamily syndicator & if you ever have any desire to learn about syndications or, one day, passively invest in one, you’re welcome to check out our website where you can find TONS of different resources, including a podcast, all about how to invest in one, what they are, typical returns, market analytics, COVID-19 and its affect to real estate, how to vet a syndicator, etc. 

Whatever you do, be vigilant, be persistent, & be consistent. Best of luck to you in your investing journey!