Where to start-Moving to Tampa

[Daniel Sherman]

Greetings all,

My wife, daughter and I are moving to Tampa in July from Northern Virginia. We’re selling our home and will have over $300k in equity to use. We’re very new to RE and could use some advice.

We rehabbed our home, top to bottom, and did 99% of the work ourselves. This had a substantial impact on the value of the home while limiting the amount we spent. Bottom line, we’re willing and able to improve a home without needing to drop a ton of cash.

We’re debating on a few options in Tampa and would like to hear from you all.

1. Get a single family fixer-upper and finance with VA loan. Buy a multi-unit that needs work (preferably 4+units) with the equity.

2. Buy a 4+ unit and live in one while fixing the others.

3. Buy multiple single family homes to rehab and BRRRR/vacation rental.

Ultimately, I know the right thing depends on the numbers, but we’re looking for a focus more than a hard line plan.

So, what would you do?

Dan