Getting started in real estate

[Michael Bowen]

I had a horrible experience with a forced rental many years ago. I bought a house hack in 2005, then forced to move due to a job relocation in 2008. Horribly upside down and after a good first renter, I was had to evict the second renter only to find that she destroyed the house and stole all of the appliances. Still feel the pain from that situation but I don't blame real estate, I blame Mike. Now I'm looking to invest in the greater Jacksonville market. SFH using the BRRR method: Working class neighborhood (B-, C+) and improve it 1/2 a grade higher thru a modest rehab, around $200k all in. Looking for meet the 50% rule, 1% rent rule, 75% ARV, cash flowing $150+/mo after all expenses. I think Aug-Sept will show a spike in short sales/foreclosures as people get snowballed by the forbearance option and want to be ready to jump in by that time. My goal is to add a house a year over the next five years and have this as a side hustle while keeping my W2 job, which I enjoy. I've been reading books, articles, and listening to BP podcasts obsessively since the beginning of the year and have analyzed about dozen properties but haven't found any that met my criteria listed above. Thanks for taking the time to read thru my introduction and look forward to becoming more involved with this community.

MB