All Forum Posts by: Adam Poshka

I would start setting a cashflow, CoC, ROA goal and running the numbers in different areas from Tampa to Orlando to see what is feasable/obtainable. Then from there you should be able to narrow your search down to a smaller target area and be ready to buy when something meets your qualifications.

Multi Family in the Tampa area is pretty scarce compared to a lot of other city's. I would say they are much more prevalent in Pinellas county . Cash flowing in the area can be difficult, but definitely a possibility in C properties. It sounds like you would have a distinct advantage as you would be the property manager. 
Clearwater is definitely different, however I do see multi family pop up there. I know a lot of people focus on Short Term Rentals over when you get closer to the water, but you need to be careful about what city you're in as STR are a very touchy subject.

Everyone ones investments needs are different, so interviewing several Realtors, several contractors, several lender, ect. Is always important. But Tony has a great point that I would like to emphasize, it is your investment and only YOU can determine a "good" or "bad" deal

Hey Brian, That sounds like a good birthday present! haha

As for your results. The market in the Tampa Bay Area is incredibly competitive right now, absolutely a sellers market. We have such a large influx of people moving to the area right now. You are looking in highly sought out areas as they are all withing a close drive to Tampa, a lot of new construction in the are, ect. I would be interested in seeing what #'s you are using to compute your COC, ROI, Cashflow and how your are finding rents.

Congrats!  When you get time tell us  what you estimated in repairs vs actual cost, how you found it ect.

I think its great that you have a BIG long term goal. My advise to you would be to not let the end goal define how you need to get there. Make sure you break down that goal into  the short term. What do you think is obtainable for year 2 and 5? I think a great thing to do is to partner with your friend ( make sure to treat it like a business and have proper documentation/ written agreements) and see how it goes for the first year. You may love it or hate it and may need to come up with another solution to your long term goal. The best way to learn is to jump in. Listen to the podcasts, read articles, analyse a bunch of properties, figure out what type of investing interests you most and then take the plunge and buy. You have a great job and your young, use these too your advantage!

Seems like a great find! Where was the location? Did you finance or pay Cash? I Currently have a client under contract for a Duplex near the Downtown area.
Id be happy to connect, I am always on the lookout!

if you are buying a townhome you should be to do a lower downpayment than 15%. Ask your brother if he like living there, why he likes living there. It is always good to think from a Renter's perspective! Also, remember to look into the association its in, HOA fees and special assessments can be killer

I would be happy to join anytime!

Congrats, on your first step! One of the podcast has a guests that says he buys a property for each child he has and does a 15 yr loan on it. He then plans on giving it to them @ 18 when they can decide to sell it for college funds/ keep it and cash flow. I love the idea and plan on doing this myself!  Keep gaining knowledge and asking questions!