Mid term in DFW Texas & Tampa Forida

[Alon A.]

Hey guys 

I want to build my portfolio , get as much property possible that I’ll sell them in 7-10 years or keep them, depends on the future & the equity.

I don’t want only equity, I want to build a really big rental empire with high cash flow, since I really like to do it.

I have 2 single in DFW and 1 single in Tampa Florida
each of them cash flow between 300-500 per month .

I have teams of contractors, lawyers, realtors, handyman, agents.... in both of this markets , my price point is between 200-350K purchase price for homes with 3bed /2bath and around 1500-3000sqft.

Question 1:
you think this both areas are good for mid term travel nurses, insurance.... ?  How many miles away from hospitals are you looking for ?
i didn’t do mid term rentals ever but I want to increase my cash flow . so I will appreciate any tips 

what I usually do is: I buy houses with Hard money loan and renovate it then I rent it
in this case I’ll need to furnish it as well and then start with mid term

I found out that I can do Subject to and seller finance and get already a remodeled property with 10% down payment , in that case I save the remodel work , but I’ll not have alot of equity and monthly expanses for rent will be super high

Question 2:
Regarding to purchase method, what you will recommended ? you buy already remodeled property ? or you buy distress , renovate them and get also equity along the way

[Joseph Stern]

I can only speak to Tampa but I have no problem finding nurses for my properties. I would stick 5-7 min from the hospitals. Tampa has plenty of health care opportunities and if you're close by the hospital you will be able to source a tenant.

This just depends on your bandwith, I have done both. Like you I have took on very heavy rehabs and purchased via hard money. I personally am licensed so sometimes I buy a stable property on the market that is furnished, but I get a 3% commission and 2% seller credit at closing, so this cuts my closing costs by 20-25k sometimes. That way I can buy something more stable if I don't have the time to commit to a rehab, you can negotiate a seller credit and do the same. Otherwise I would go based on the deal, if you come across the lead thats worth the rehab go for it, if you come across something that has less forced equity upside but is in a fantastic growing location next to a hospital, I'd jump on that as well.